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Arab News
4 hours ago
- Arab News
Saudi Arabia signs $6.4bn investment deals with Syria to boost reconstruction
RIYADH: Saudi Arabia has signed investment deals worth $6.4 billion with Syria, marking a significant step in the Kingdom's efforts to re-engage economically with the war-ravaged country and support its reconstruction drive. The agreements, spanning sectors such as real estate, telecommunications, and finance, were unveiled by Investment Minister Khalid Al-Falih during the Syrian-Saudi Investment Forum held in Damascus on July 25. The forum highlights Saudi Arabia's strong commitment to strengthening Syria's financial landscape. In April, the Kingdom joined Qatar in settling the country's $15 million debt to the World Bank. 'During this forum, we will witness the signing of 47 agreements and memoranda of understanding with a total value approaching SR24 billion ($6.4 billion), said Al-Falih. The deals include $1.07 billion in the telecommunications sector, with Syria's Ministry of Communications and several Saudi telecom companies aiming to deepen bilateral ties. Companies involved in the plans include Saudi Telecom Co., GO Telecom, digital security firm Elm, cybersecurity company Cipher, and education technology firm Classera. In the real estate and infrastructure sectors, deals worth $2.93 billion were announced, including the construction of three new Saudi-financed cement plants to support Syria's reconstruction efforts. The two nations also agreed to enhance cooperation in agriculture. 'In the agricultural sector, we look forward to collaborating in Syria to develop high-quality joint projects, including model farms and processing industries,' said Al-Falih. In finance, a memorandum of understanding was signed between the Saudi Tadawul Group and the Damascus Securities Exchange to boost cooperation in the fintech sector. Al-Falih also announced the formation of a Saudi-Syrian Business Council, which is expected to further strengthen trade and economic ties between the two countries. Speaking at a separate panel discussion during the forum, Al-Falih said Syria is evolving into a more investment-friendly destination, despite ongoing challenges. 'Syria is leaping forward as an investment-attractive country despite all challenges. Since the beginning of its new era, we have witnessed a genuine desire to provide investment opportunities for Saudi businessmen,' he added.


Al Arabiya
4 hours ago
- Al Arabiya
UN says cannot verify waiting Gaza aid due to lack of access
The United Nations said Thursday it did not know how many truckloads of aid were awaiting distribution inside the Gaza border because Israel has not granted it access. International criticism is growing over the plight of the more than two million Palestinians in Gaza, where more than 100 aid and rights groups have warned that 'mass starvation' is spreading. The Israeli military denied Wednesday that it was blocking humanitarian aid from entering the Palestinian territory, claiming that 950 truckloads of aid were on the Gaza side of the border waiting for international organizations to collect and distribute it. 'Despite our repeated requests, Israel has not allowed the UN to be present at the crossings, which are militarized areas,' said Jens Laerke, spokesman for the UN humanitarian agency OCHA. 'We therefore cannot verify the amount of supplies currently at the crossing,' he told AFP. Laerke explained that the UN needed multiple authorizations from the Israeli authorities: firstly to get aid across the border from Israel into the Gaza Strip, where it is dropped off -- the trucks returning to Israel -- followed by another approval to drive trucks from inside Gaza to the crossing point to pick it up. 'It is very important to stress that it is not just about denials of requests to pick up the cargo,' he added. 'Israel -- as the occupying power and a party to the conflict -- must facilitate humanitarian operations all the way till it reaches people who need it to survive.' This means that, beyond simply authorization, 'they must provide the green light for trucks without unnecessary delays; allow teams to use multiple, safer routes; and order troops to stay away from the convoys, and never shoot at civilians along the allocated routes -- or anywhere else', Laerke explained. 'Without the full set of conditions in place, safe and principled delivery cannot take place at scale. So even when approved, those missions are often impeded on the ground.' After talks to extend a six-week ceasefire broke down, Israel imposed a full blockade on Gaza on March 2, allowing nothing in until trucks were again permitted at a trickle in late May. The October 2023 attack on Israel by Palestinian militant group Hamas triggered war in the Gaza Strip.


Arab News
5 hours ago
- Arab News
Lost cause? Let the people of Lebanon have their say
There is a strange situation in Lebanon. For decades, politicians and their staff have been permanently present on the media scene — commenting, contesting, making their clan's voice heard, and, in short, occupying space. This was true whether in opposition or government. Today, there is a period of quasi-silence. This silence indicates a loss of direction and an inability to read what is coming next regionally. There is another serious and pressing element that is changing the equation: the erosion of security and the impact of the difficult situation in the Syrian Arab Republic. While the new leadership in Syria faces a lot of challenges and risks, the one that presents the biggest danger for Lebanon is not the military clashes between communities, but the lack of order and security, a threat that can easily spread. Syria's security forces are unprepared to fight crime due to corruption, fragmented control, and, as stated, much bigger issues than public safety. This situation creates great instability for Lebanon, as organized crime does not stay within borders. As the new president, Joseph Aoun, came to power, most Lebanese — some politicians included — hoped he would deliver on his promises to restore sovereignty to the country. Many imagined that a negotiated outcome with Hezbollah was possible and that soon Lebanon would be back to its short-lived 'Switzerland of the Middle East' model. Close to seven months later, the optimists — not to call them naive — agree with the cynics of the first hour that this is just quixotic. There was never going to be, and never will be, a negotiated outcome with Hezbollah. We nevertheless need to put things back into perspective. Aoun came to power after Israel defeated Hezbollah using strikes that brought the Iranian proxy to a level of vulnerability never witnessed before. This extreme weakness, and the shell-shocked status of Hezbollah with the change of regime in Syria, made people believe that this was the perfect time. Is it a lost opportunity, just like what happened in the 2000s, not taking the bold step needed and losing the window to make a real change? No one knows. Perhaps, despite years of US support and financing, the Lebanese armed forces still do not represent the stick that can challenge Hezbollah. Or perhaps the answer is simply closer than people think. There is no doubt that even if negotiated, projecting strength would be a necessity. This does not exist today. Organized crime does not stay within borders Khaled Abou Zahr There is also within Lebanon an echo of what we see in Western capitals. We cannot ignore the protest posters in New York showing an image of Iran's Supreme Leader Ali Khamenei with a slogan telling people to be on the right side of history. Yet, there are, even in Lebanon, people who are puzzled about what comes next. This is why it is time to leave the decision to the people in Lebanon. The electoral system for years has been carved out by politicians to accommodate their deals. They have been, in a sense, accomplices of Hezbollah. It is time to ask the people what they want. It is time to put forward two questions to the people of Lebanon. The first is: Do you back the sovereignty of the country? And the second question: Do you prefer a centralized political system or a federation? There also should be a two-level count — one for the entire nation and one for each community. It is now important to see what each community needs and wants for the future. There is no doubt that, for example, today the Sunni community — to which I belong — expects the change of regime in Syria from a pro-Iran to a Sunni one that is representative of the majority of the Syrian population to work to their advantage in the long term. In my opinion, Lebanon's specificity will clash with the uniformity of the Syrian model. This was true yesterday and will still be true tomorrow. The main objective should be to initiate a dialogue Khaled Abou Zahr Yet, it is this entrenched thinking that needs to be destroyed. This historical clan setup has partially been responsible for the ills of the country. Whether Hezbollah or the groups before it, it is the same cycle. I would like to see this setup and political system obliterated. I believe that federalism will bring stability to Lebanon. Yet, perhaps I am a tiny minority within the country or my community. This is why reverting to the people is important. It is also important to have a view of what each community needs and wants. This should be stated by the people and not the clan leaders who have perpetuated the cycles generation after generation. If we believe in the sovereignty and independence of Lebanon, we cannot be influenced by how the geopolitical shifts affect our community in the balance of power. It is contradictory. We need a system that gives each citizen within each community the capacity to lead a stable life. What would be the outcome of such referendums? How to manage fragmented results where a community or a group of communities vote differently? What happens if people vote against the state? Does this mean that all communities can arm themselves again? What if they vote for sovereignty — who will execute the will of the people? There are many unanswered questions. Yet the main objective should be to initiate a dialogue, or perhaps accept that, for now, Lebanon is still a lost cause. Either way, the people will know. And those who wish to be Don Quixote can still carry on.