Latest economic and financial news about Syria, currency markets, and regional economy updates.
Syria's economy ministry signed a 30-year memorandum with a Saudi holding company to rehabilitate and operate the state-owned Hama iron and steel plant, aiming to lift annual output to at least 350,000 tons within four years.
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Turkey's trade minister visited Aleppo on 27 August 2026, announcing a joint customs committee, expanded border crossings, and a plan to lift bilateral trade to $10 billion after it reached $3.75 billion in 2025.
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Syria is expanding six industrial cities nationwide, including a 10,000-hectare increase at Hasiyah in Homs and a 1.5-million-square-meter development contract at Sheikh Najjar in Aleppo, with near-cost land and five-year payment terms for investors.
Read More →President Ahmad al-Sharaa paid for coffee with a Visa card in Damascus on 27 August 2026, as Visa, Mastercard and QNB Group ran Syria's first live international card transactions in over 15 years.
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A Saudi-led consortium signed a technical services agreement on 27 August 2026 to study an integrated water and desalination system for Syria, targeting capacity of up to 1.2 million cubic meters a day and a 400-kilometer transport network.
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A Turkish firm signed a one-year agreement at the Damascus International Fair on 27 August 2026 to expand the Bab al-Hawa Industrial City, aiming to open some 2,000 industrial investment opportunities and rebuild core infrastructure.
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Syria and Saudi Arabia signed a bilateral air transport agreement in Damascus on 27 August 2026, adopting open-skies principles that let carriers add routes and flights by demand. The accord updates a 2007 framework and awaits legislative ratification in both states.
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The Central Bank of Syria and a Saudi business delegation agreed on 27 August 2026 to create a joint Saudi-Syrian bank and channels to ease cross-border transfers, aiming to unlock investment in tourism and real estate.
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Cross-border transit trucks between Syria and Turkey rose from about 3,500 in 2025 to more than 30,000 in the first seven months of 2026, as the two sides move to expand shared crossings and ease customs.
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Industrial fuel at Hasiyah Industrial City fell from $475 to about $400 per ton, trimming product costs 10 to 15 percent across textile and chemical plants a month after the change took effect.
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