Latest news with #Qatari-based
Miami Herald
3 days ago
- Business
- Miami Herald
Giant Construction Projects Boom as U.S. Lifts Syria Sanctions
Syria has signed a $7 billion deal with a consortium of U.S., Qatari, and Turkish energy firms to build new power plants, part of a broader push to revive its energy infrastructure, after President Donald Trump recently announced lifting sanctions on the war-ravaged country. The projects are a sign of Syria's re-emergence after years of conflict and international isolation and of the investment it can potentially attract for infrastructure construction. They also show the way that U.S., Gulf and Turkish administrations and companies seek to take a lead in a country formerly aligned with Iran. Aiming to breathe life into a war-weary Syria and to assist new President Ahmed al-Sharaa, Trump's surprise announcement in Riyadh on lifting sanctions marked a pivotal moment in his Middle East visit-one with significant implications for U.S.-Arab relations. U.S. Special Envoy for Syria Tom Barrack, announced the deal a day after arriving in the country, marking the first official U.S. visit to Syria in 12 years. "Only a week after President Trump's announcement to lift sanctions, we have already unlocked billions of dollars of international investment for Syria," Barrack posted to his X account. Syria signed the memory of understanding with a consortium led by the Qatari-based UCC Holding. The deal includes four gas power plants in Homs, Hama, and Deir-Azzour with a total capacity of 4,000 MW, plus a 1,000 MW solar plant in southern Syria. The breakthrough in U.S.-Syria relations follows the ouster of the Iranian-backed Assad regime. However, there remains skepticism about Syria's stability and continuing violence. Further concerns of renewed ISIS threats persist. ISIS claimed responsibility for its first two attacks in Syria under the new government on Thursday-one hitting seven soldiers in Sweida and another targeting the U.S.-backed Free Syrian Army according to The Associated Press. U.S. Ambassador to the Republic of Türkiye and Special Envoy for Syria Tom Barrack wrote on X: "Thanks to @POTUS, Syria is OPEN FOR BUSINESS, and thanks to Qatar and Türkiye, the old boundaries and borders are collapsing. Commerce not chaos!" Syria's Energy Minister Mohammed Al Bashir, ass quoted by the company's press release: "This agreement marks a crucial step in Syria's infrastructure recovery plan. It will strengthen our national grid, expand access to electricity, and help meet growing demand through partnerships that combine international expertise with local priorities." Construction will start after final agreements, with gas plants completed in three years and the solar plant in under two years, UCC Holding said. Syria can expect to attract significantly more infrastructure investment if the security situation allows. Related Articles Why MBS Is Keeping the Pressure on Iran | OpinionThe Sanctions Era Is Quietly Ending. The West Isn't Ready | OpinionDonald Trump's Middle East Tour: Five Things We LearnedIsrael Issues Warnings to Syria and Turkey as Trump Praises Their Leaders 2025 NEWSWEEK DIGITAL LLC.
Yahoo
3 days ago
- Business
- Yahoo
Amid energy deal, United States reopens Syrian ambassador's residence
May 29 (UPI) -- The United States ambassador's residence in Damascus, Syria, re-opened Thursday after being closed for 13 years, presaging a warming of relations between the two countries. Tom Barrack, the current U.S. ambassador to Turkey, has also been appointed special envoy to Syria, and raised a U.S. flag outside the residence to inaugurate it, according to the Syrian run news agency SANA. "Tom understands there is great potential in working with Syria to stop Radicalism, improve Relations, and secure Peace in the Middle East," a statement from the State Department on X said. "Together, we will make America and the world, SAFE AGAIN!" Barrack met with Syrian President Ahmed al-Sharaa to witness the signing of an agreement with Middle Eastern countries aimed at developing a $7 billion, 5,000 megawatt energy project that would revitalize Syria's aging and worn electricity grid and use it as the backbone of the new power project. The new energy project could supply Syria with 50% of its electricity needs, according to a statement from Qatari-based UCC Holding, which is among the partners in the project. In a further sign of warming relations between the United States and the Middle East, President Donald Trump met earlier this month with al-Sharaa in Riyadh, a move that prompted the United States to begin walking back sanctions imposed on Syria during the repressive regime of Bahsar al-Assad. During the reopening of the ambassador's residence Thursday, Barrack called lifting the sanctions a "bold move," and said it comes with "no conditions, no requirements." Barrack credited Trump for "your bold vision, empowering a historically rich region, long oppressed, to reclaim its destiny through self-determination."
UPI
3 days ago
- Business
- UPI
Amid energy deal, United States reopens Syrian ambassador's residence
Chairman of the Inaugural Committee and real estate investor Thomas J. Barrack Jr. stops to talk to members of the media in the lobby of the Trump Tower in New York, N.Y., in 2017. Barrack was appointed a special envoy to Syria Thursday. File Pool Photo by Anthony Behar/UPI | License Photo May 29 (UPI) -- The United States ambassador's residence in Damascus, Syria, re-opened Thursday after being closed for 13 years, presaging a warming of relations between the two countries. Tom Barrack, the current U.S. ambassador to Turkey, has also been appointed special envoy to Syria, and raised a U.S. flag outside the residence to inaugurate it, according to the Syrian run news agency SANA. "Tom understands there is great potential in working with Syria to stop Radicalism, improve Relations, and secure Peace in the Middle East," a statement from the State Department on X said. "Together, we will make America and the world, SAFE AGAIN!" Barrack met with Syrian President Ahmed al-Sharaa to witness the signing of an agreement with Middle Eastern countries aimed at developing a $7 billion, 5,000 megawatt energy project that would revitalize Syria's aging and worn electricity grid and use it as the backbone of the new power project. The new energy project could supply Syria with 50% of its electricity needs, according to a statement from Qatari-based UCC Holding, which is among the partners in the project. In a further sign of warming relations between the United States and the Middle East, President Donald Trump met earlier this month with al-Sharaa in Riyadh, a move that prompted the United States to begin walking back sanctions imposed on Syria during the repressive regime of Bahsar al-Assad. During the reopening of the ambassador's residence Thursday, Barrack called lifting the sanctions a "bold move," and said it comes with "no conditions, no requirements." Barrack credited Trump for "your bold vision, empowering a historically rich region, long oppressed, to reclaim its destiny through self-determination."
Forbes
14-05-2025
- Business
- Forbes
Trump's Middle East Trip: Here Are All The Major Deals Signed
President Donald Trump announced agreements worth hundreds of billions of dollars during his visit to the Middle East this week, where he was joined by prominent American business executives who penned agreements for projects in defense, aviation and artificial intelligence, among other ventures. Qatar: Trump on Wednesday signed an agreement for investments between the two countries worth more than $243.5 billion and outlined plans to increase the investment to $1.2 trillion, the White House said. Qatar Airways agreed to buy 210 Boeing jets worth $96 billion, representing the largest deal yet facilitated by Trump since he arrived, The New York Times reported. Qatari-based Al Rabban Capital signed an agreement with the Quantinuum computing company to invest $1 billion in quantum technology and workforce development in the U.S. The U.S. also signed several defense-related agreements with Qatar, including a $1 billion deal for Qatar to acquire drone defense technology from Raytheon RTX, and a $2 billion agreement for Qatar to purchase remotely piloted aircraft from General Atomics. Saudi Arabia: The White House said Tuesday Saudi Arabia agreed to $600 billion in investments, though some of the projects listed were already in the works, while an additional 145 deals worth more than $300 billion were reportedly signed at an adjacent investor conference attended by several U.S. billionaires and prominent business executives. A $142 billion agreement for the Saudis to buy military equipment and services from more than a dozen U.S. defense firms is included in the agreement Trump signed, the White House said. The $600 billion investment also includes $20 billion from Saudi firm DataVolt for AI data centers and energy infrastructure in the U.S., and $80 billion in technologies in both countries from Google, DataVolt, Oracle, Salesforce, AMD and Uber. More than $2 billion in work by American firms in Saudi infrastructure projects, including King Salman International Airport and the Qiddiya City entertainment complex, was also part of the agreement. Elon Musk announced Saudi Arabia had agreed to use his Starlink internet satellite services for aviation and maritime shipping. Nvidia will sell 18,000 artificial intelligence chips to the new Saudi-backed company, Humain, debuted Monday and chaired by Saudi Crown Prince Mohammed bin Salman. American-based AMD announced a $10 billion project with Saudi Arabia to provide chips and software for AI data centers 'stretching from the Kingdom of Saudi Arabia to the United States.' Humain also announced deals with Global AI, Cisco and Amazon, which will build an 'AI zone' in Saudi Arabia, including new AI infrastructure and servers, and networks to facilitate more efficient AI training, the company said. Trump will conclude his visit in the Middle East on Thursday in the United Arab Emirates. In addition to Musk, billionaires including OpenAI's Sam Altman, Palantir's Alex Karp BlackRock's Larry Fink, and Blackstone's Steve Schwarzman also attended the U.S.-Saudi Investment Forum. Schwarzman and Musk also sat with Trump and the emir of Qatar at a state dinner. As of Wednesday evening local time, there'd been no mention from Trump or the Qataris of the 747 luxury jet Qatar reportedly plans to gift the Trump administration. Trump's visit to the Middle East, so far, has centered around economic investments, rather than broader geopolitical strategy. The region is home to multiple new projects by Trump's family businesses, including a Trump golf resort in Qatar and Trump residential towers in Dubai and Jeddah, Saudi Arabia. An investment fund backed by the United Arab Emirates, MGX, also used $2 billion in stablecoin issued by the Trump family's World Liberty Financial to invest in Binance earlier this year. Boeing, Tesla, Nvidia And Other Stocks Surge Amid U.S.-Saudi Dealmaking Spree (Forbes) Qatar Airways Will Buy 210 Jets From Boeing — As Trump Awaits Qatar's 747 Gift (Forbes) Trump Middle East Visit (Live Updates): Musk, Altman And Other Billionaires Join Trump In Saudi Arabia, Inking Billions In Deals (Forbes)
Yahoo
14-05-2025
- Politics
- Yahoo
Judge orders release of Georgetown scholar Badar Khan Suri after ICE detention in Texas
A federal district court judge in Virginia ordered the release of Georgetown University scholar Badar Khan Suri on Wednesday, marking at least the third time a detained student or academic targeted by the Trump administration because of their protest activity or affiliation was released from immigration detention. Khan Suri was detained by masked federal officers outside his home in Rosslyn, Virginia, in March. Khan Suri was moved across multiple state lines shortly after his arrest and has been held in custody in a Texas detention center. He is an Indian national postdoctoral fellow and was in the United States on a valid visa before his arrest. He is married to a US citizen. Virginia US District Court Judge Patricia Tolliver Giles ordered Khan Suri's release on the condition that he maintain a residence in Virginia and attend other hearings in the case in person. Khan Suri will also be required to attend his immigration proceedings in Texas virtually. Suri has not been charged with a crime, but the Trump administration revoked his student visa and accused him of having ties to Hamas, a terrorist organization. Khan Suri's attorneys filed multiple motions with the court challenging the legality of his detention, arguing their client was targeted in part because his wife is a Palestinian American. Khan Suri's wife, Mapheze Saleh is also a former employee of the Qatari-based news network Al Jazeera, according to court documents. Saleh said she posted on social media to show her support for the people of Gaza after the start of the Israel-Gaza war, court documents show. This is a developing story and will be updated.
