Latest news with #ArabWorld
Washington Post
4 hours ago
- Business
- Washington Post
Syria and Saudi Arabia agree to boost economic cooperation after Western sanctions eased
DAMASCUS, Syria — Syria and Saudi Arabia said Saturday they aim to boost economic cooperation to for their mutual benefit and create jobs for Syrians after Western sanctions imposed on the war-torn country were eased earlier this month. The announcement was made during a visit to Damascus by Saudi Foreign Minister Prince Faisal bin Farhan, who met Syrian President Ahmad al-Sharaa and other Syrian officials.
The National
6 hours ago
- Business
- The National
Saudi Arabia's foreign minister arrives in Syria to discuss boosting economic ties
Saudi Arabia's Foreign Minister Prince Faisal bin Farhan arrived in Syria on Saturday, leading a high-level delegation that aims to strengthen ties as the war-torn nation prepares for an economic opening on the expected lifting of years-long sanctions. Prince Faisal is due to meet Syrian President Ahmed Al Sharaa, and is expected to hold economic talks between the two sides as an economic delegation is accompanying the Saudi official, the Saudi foreign ministry said in a statement. The talks will focus on ways the two sides can work together "to support Syria's economy, strengthen the development of government institutions, and achieve the aspirations of the Syrian people", the ministry said. In February, Saudi Crown Prince Mohammed bin Salman met Mr Al Sharaa in Riyadh during the latter's first trip in the region as president. Mr Al Sharaa said the meeting with Prince Mohammed has shown that Saudi Arabia had 'a genuine desire to support Syria in building its future'. The Syrian president added that his meetings in Riyadh had included plans for co-operation in the fields of energy, technology, education and health. The Syrian economy has been devastated by the civil war, which began in 2011. The UN's Development Programme estimates cumulative losses – including physical damage and economic deprivation – of $923 billion at the end of last year. The estimated cost of reconstruction has varied from $250 billion and $500 billion. The national economy, which had been maintaining a brisk pace of growth before the protests against the regime of deposed president Bashar Al Assad, has struggled since: gross domestic product plunged 6.4 per cent in 2016 before gradually recovering, government data shows. But the situation has been improving: in March, Syrian President Ahmad Al Shara announced new members in his government, appointing 23 ministers in a broadened cabinet, a move seen as an important milestone in the transition from decades of Al Assad family rule and the improvement of ties with the West. It further accelerated after US President Donald Trump, during his Gulf tour this week, announced the lifting of sanctions on Syria, drawing cheers from its citizens and optimism from analysts. He also met Mr Al Shara in Riyadh. On May 16, the World Bank cleared Syria of its $15.5 million outstanding debt after Saudi Arabia and Qatar paid for it, in another positive sign for the nation's damaged economy. The clearing of the arrears, made effective on May 12, reinstates Syria's eligibility to receive World Bank support and operations after a 14-year hiatus, the Washington-based institution said. Saudi Arabia and Qatar announced their plans to settle Syria's outstanding debts on April 27, in "support of and to accelerate the recovery" of Syria, following discussions at the World Bank and International Monetary Fund 's spring meetings in Washington. Support from Syria's Gulf neighbours will be key to its recovery: financial deposits from Gulf allies will support Syria's monetary stability and rebuild confidence in its commercial banking system as the country grapples with near-depleted foreign exchange reserves, analysts have said. Also in May, Damascus and DP World, the Dubai-based global ports operator, signed an initial agreement worth $800 million to develop Syria's port of Tartus, aimed at strengthening port infrastructure and logistics services in the country.
Khaleej Times
7 hours ago
- Business
- Khaleej Times
Saudi foreign minister meets Syrian President Al Sharaa during official visit
Saudi Foreign Minister Prince Faisal bin Farhan met Syrian President Ahmed Al Sharaa during an official visit on Saturday, May 31, Al Arabiya reported. Prince Faisal, who arrived in the capital Damascus, is leading a high-level economic delegation aimed at bolstering bilateral cooperation with Syria. The delegation includes Mohammed bin Mazyad Al Tuwaijri, Advisor at the Royal Court, Abdulmohsen bin Saad Al Khalaf, Deputy Minister of Finance, Dr. Abdullah bin Ali Al-Dubaikhi, Assistant Minister of Investment, Abdullah bin Fahd bin Zarah, Undersecretary of the Ministry of Foreign Affairs for Economic and Development Affairs. This visit comes amid ongoing regional efforts to reintegrate Syria into the Arab diplomatic fold and foster long-term stability and development in the region. In April, Al Sharaa had met UAE President Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi. The UAE President reiterated the UAE's firm position towards supporting Syria's unity, sovereignty and territorial integrity. Earlier in May, the United States lifted comprehensive economic sanctions on Syria, marking a dramatic policy shift following the end of Bashar al-Assad's regime and opening the door for new investment in the war-torn country. Saudi Arabia
Gulf Business
a day ago
- Business
- Gulf Business
Spotify's Mark Abou Jaoude on shaping culture and championing regional talent
Image: Gulf Business In a region pulsing with cultural energy and creative momentum, Mark Abou Jaoude is one of the most influential forces shaping the future of music. By day, he leads Spotify's music strategy as Head of Music for MENAP and it's his deep love for the culture that fuels everything he does. With over a decade in the industry, Abou Jaoude's approach is grounded in cultural insight, strategic intuition, and a constant push to break boundaries. 'Being exceptional means creating innovative, authentic, and impactful moves that resonate deeply with artists, fans, and communities,' he shares. His career has been shaped by bold decisions and a deep ear for sounds bubbling just beneath the mainstream a reflection of his ability to spot cultural shifts before they emerge. Abou Jaoude's process blends instinct with experience. He immerses himself in the region's grassroots music scenes, stays connected to youth culture, and has a keen understanding of evolving tastes. Yet his vision extends beyond trends. His mission is to help contribute to a more connected, sustainable music ecosystem across the region. 'Music across the region is evolving and growing quickly, with more people discovering and sharing sounds than ever before,' he says. 'But with that momentum comes a responsibility to build stronger support systems, invest in education, and create pathways that help artists grow long-term.' Abou Jaoude's passion for music remains the driving force behind his creativity, and leadership style. My curiosity about music has really inspired my leadership style,' he shares. It's that curiosity that pushes him to keep learning, seek out working with passionate people, and stay grounded in a mindset of growth and discovery. 'I don't mind getting messy or making mistakes. That's where growth happens,' he says. It's no surprise, that a vehicle like the But the QX80 offers more than just exceptional audio. From its refined interior and intuitive technology to its spacious design, the entire experience aligns with how Abou Jaoude moves through the world. 'It's built with attention to detail, comfortable, thoughtful, and powerful. Whether I'm heading to a strategy session or simply taking a moment to reset, it gives me the space to think and the sound to feel.' As a creative leader at the intersection of culture, innovation, and technology, Abou Jaoude sees a strong alignment between INFINITI's values—human, daring, and forward and the qualities today's creatives need to thrive. 'Staying true to yourself, being brave enough to try something new, and always looking ahead that's what defines both creative impact and strong leadership.' His advice to future industry leaders is direct and empowering: 'Know what you want to achieve. All you need is clarity, consistency, and the courage to take risks.' For Abou Jaoude, success is as much about mindset as it is about talent. He champions a balance between vision and execution, always staying grounded in purpose and committed to work that's both creatively and culturally meaningful. Abou Jaoude continues to drive the region's music industry forward, not by following formulas, but by listening deeply, acting boldly, and always staying in tune with what's possible.
The National
2 days ago
- General
- The National
'It's not worth the risk': Middle East students put US dreams on hold amid Trump visa crackdown
Young people in the Middle East have spoken of their fears after the US government decided to freeze overseas student interviews and plan to begin vetting their social media accounts. The directive signed by Secretary of State Marco Rubio and sent to diplomatic and consular posts stops interview appointments at US universities. The move was announced only days after the US took steps to bar foreign students from Harvard University as part of a campaign against some higher education institutions. The Trump administration said Harvard has not done enough to fight anti-Semitism and change its admissions practices – allegations the university has strongly denied. Consular officers have, since March, had to conduct mandatory social media reviews looking for evidence of support for 'terrorist activity or a terrorist organisation', which could be as broad as showing support for the Palestinian cause, according to The Guardian, quoting a State Department message. In 2023-2024, the US hosted an all-time high of 1.1 million international students. About 90,000 are from the Arab World, according to estimates. Students left in limbo For Noor, a 20-year-old Syrian student accepted into a Ivy League university, the moment she received her US visa should have been a triumph. Instead, it has left her sick with anxiety. "I got my visa last week, but what if it gets revoked?' she told The National. " Even if it doesn't, I'm scared I might not be allowed into the States.' The student still believes the US will provide her with the best opportunity to pursue her academic ambitions. "Despite everything, I still believe going to the US is my best option,' said Noor. "As a Syrian, I need a full scholarship – and that's hard to find elsewhere.' She is well aware, however, of the challenges she and fellow students in the region must overcome to study in the US. "There's a real fear among Mena students that their identity could work against them,' she said. "I've even avoided posting anything political, especially about Palestine. Once we're in the US, we won't be able to speak freely. People are being arrested for what they post." Swapping US for Finland Arjun Menon Tiwari, 17, who has lived most of his life in Abu Dhabi, was accepted into US universities including NYU, UNC Chapel Hill and Boston University. But, he has made the difficult decision to walk away. "With the new Trump administration, a lot of student visas are being taken away,' he said. "If I'm not able to stay long enough to complete my degree and find a job, then it's not worth the risk.' Arjun has instead chosen to study computer science at the University of Helsinki in Finland, favouring not only the country's high-quality education but also its reputation for happiness, safety, and long-term opportunity. "It was disappointing to let go of a dream, but in hindsight, it feels like the best decision. "Europe feels more stable. There's less risk, and the opportunities are still world-class. You have to think long term, not just about getting in, but what happens after.' Aisha Almekhlafi, a 21-year-old psychology graduate from UAE University, faces a nerve-racking wait before finding out where her future lies. She was accepted into a master's programme at NYU starting in September, but is still to receive her visa. "It's been really stressful,' she said. "Everything depends on getting that visa – my travel, my housing, even my mental focus. A colleague of mine had her visa rejected and lost an entire term. That fear is always there.' The timing has upset the plans for thousands of students, particularly from those from regions already under tight scrutiny. One parent, with a daughter set to return to study in the US after the summer told The National that she will have to wipe all social media, and WhatsApp before returning, and that her daughter is frequently asked on returning to the US from the UAE why she spends so much time in the Middle East. Anxiety grows with uncertainty At UniHawk, a UAE-based university counselling firm supporting hundred of US-bound application, the mood has darkened. "Even those who've already secured their visas and booked accommodation are now asking if they should proceed,' said Varun Jain, chief executive of UniHawk. "There's considerable anxiety, especially among students with upcoming embassy appointments.' In response, Mr Jain said his team is encouraging students to keep their operations open. "We always advise strong backup plans – the UK, Canada, UAE, Australia or Europe. Even those admitted to their dream universities are now actively considering alternatives, not out of doubt in their choice, but out of precaution.' Mr Jain added that students can still apply to top universities in the UK through UCAS Clearing or directly to institutions in Ireland, Europe, and Australia. Many top-tier Australian universities – often referred to as the Group of Eight – are still accepting applications. For some, enrolling in a university in the UAE for their first year and transferring later to the US when the situation stabilises is a practical strategy.
