Latest economic and financial news about Syria, currency markets, and regional economy updates.
Syrian officials and a Saudi company met in Damascus on 15 June 2026 to implement a memorandum to mine oil shale at Khanasser and produce di-ammonium phosphate (DAP) fertilizer, starting with a geological survey.
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Security forces destroyed makeshift oil burners near a Deir Ezzor village on 15 June 2026 and detained a worker, part of a drive to end informal refining as the state promises subsidized fuel and jobs for displaced laborers.
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Aviation authorities in Damascus and Amman signed a new air transport agreement on June 15, 2026, replacing a 1976 accord and opening the way for more competition, code-sharing and expanded routes between the two countries.
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A new circular reduces the subsidized bread bundle from 10 to eight loaves and trims its weight to 1,000 grams from June 20, 2026, while keeping the price unchanged at 40 new Syrian pounds — the third such cut in 16 months.
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Syria's Buildex construction expo closed in Damascus on 14 June 2026 with 21 contracts signed and 710 companies from 51 countries taking part, as the finance minister cited new foreign entrants, a turn to local manufacturing, and a planned tax overhaul.
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Syria's energy ministry signed a contract with a Saudi firm on 14 June 2026 to supply and install five million prepaid smart water meters over four years, starting with 300,000 units in 2026, to modernize billing and cut water losses.
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The Russian-Syrian Business Council has begun operating a goods hub at the Mediterranean port of Tartus, fed by a direct shipping line from Novorossiysk, to store, clear, and re-export Russian commodities toward Iraq, Jordan, and the Gulf.
Read More →American oil company HKN Energy has begun operating the Rmeilan fields in Hasakah under a 25-year contract that splits output 60-32-8 among the operator, the state Syrian Petroleum Company, and a local services firm.
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Barley prices in Syria's northeast have fallen as much as 50% since planting season to about $200-225 a ton, as Hasakah and Jazira farmers flood the market to raise cash during the June 2026 harvest.
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Residential rents in Damascus are climbing sharply, with landlords increasingly demanding payment in US dollars and yearly hikes of up to 50%, pushing some prices above those in Dubai and Riyadh.
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