Syria to expand main airport and build subway in $14 billion deal with foreign partners


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The new Syrian government has announced the country's largest foreign investment deal in years, with $14 billion to modernise infrastructure.

The funding will go towards upgrading Damascus airport and the revival of a long-abandoned plan to construct a metro system in the capital, among other projects.

"We are announcing a group of 12 major strategic projects for a total of $14 billion," Talal Al Hilali, head of the Syrian Investment Authority, said at the ceremony at the presidential palace on Wednesday.

The plans include a $4 billion agreement for Damascus airport with Qatar's UCC Holding; a deal worth more than $2 billion for a mall and two towers, signed with Italy-based construction company Ubako; and $2 billion for a Damascus metro system.

The metro deal follows talks between a delegation from the UAE's National Investment Corporation, Syrian Minister of Transport Yarub Badr and Damascus Governor Maher Marwan.

The projects "will extend across Syria and represent a qualitative shift in infrastructure and economic life", Mr Al Hilali said.

President Ahmad Al Shara and US special envoy for Syria Tom Barrack were at the signing ceremony.

Mr Barrack congratulated Syrian authorities on "another great accomplishment", saying they will witness the rise of a "new hub" in "trade and prosperity".

Foreign investment in Syria was enabled by US President Donald Trump's decision to lift sanctions imposed during Mr Al Assad's rule. The EU followed soon afterwards.

US special envoy for Syria Tom Barrack attends the signing ceremony for investment projects in Syria, in Damascus on Wednesday. Reuters
US special envoy for Syria Tom Barrack attends the signing ceremony for investment projects in Syria, in Damascus on Wednesday. Reuters

"The future of a prosperous and peaceful Syria is in the hands of Syria and its regional partners, like Qatar’s UCC and Turkey’s Cengiz and Kalyon groups who were awarded the Build-Operate-Transfer for the new Damascus International Airport," Mr Barrack said in a post on social media.

"The path to recovery must begin with the fits and starts of building a foundation of security and stability, then followed by government systems and ultimately enterprise and prosperity."

The UN has estimated that Syria's postwar reconstruction will cost more than $400 billion.

Several agreements have already been announced.

Last month, Saudi Arabia signed major investment and partnership deals with Syria, valued at $6.4 billion.

Also in July, Syria signed an $800 million deal with UAE-based company DP World to develop the port of Tartus, state media reported.

In May, Syria signed a $7 billion energy deal with a consortium of Qatari, Turkish and US companies as it seeks to revive its crippled power sector.

Mr Al Hilali said the signing ceremony on Wednesday was "a clear declaration that Syria is open to investment, determined to build a prosperous future, and ready to work side by side with our trusted partners to write a new chapter of progress and development”, Syrian state news agency Sana reported.

The announcement of the new deals came as a Syrian business delegation was visiting Turkey to promote trade ties.

RESULT

Manchester United 2 Burnley 2
Man United:
 Lingard (53', 90' 1)
Burnley: Barnes (3'), Defour (36')

Man of the Match: Jesse Lingard (Manchester United)

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A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation. 

A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.

The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000. 

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Remaining Fixtures

Wednesday: West Indies v Scotland
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Tests 27, Wickets 87, Average 37.59, Best 5-40

ODIs 53, Wickets 75, Average 33.44, Best 6-55

T20Is 10, Wickets 7, Average 41.14, Best 2-12

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Once the domain of newspaper home deliveries, subscription model retailing has combined with e-commerce to permeate myriad products and services.

The concept has grown tremendously around the world and is forecast to thrive further, according to UnivDatos Market Insights’ report on recent and predicted trends in the sector.

The global subscription e-commerce market was valued at $13.2 billion (Dh48.5bn) in 2018. It is forecast to touch $478.2bn in 2025, and include the entertainment, fitness, food, cosmetics, baby care and fashion sectors.

The report says subscription-based services currently constitute “a small trend within e-commerce”. The US hosts almost 70 per cent of recurring plan firms, including leaders Dollar Shave Club, Hello Fresh and Netflix. Walmart and Sephora are among longer established retailers entering the space.

UnivDatos cites younger and affluent urbanites as prime subscription targets, with women currently the largest share of end-users.

That’s expected to remain unchanged until 2025, when women will represent a $246.6bn market share, owing to increasing numbers of start-ups targeting women.

Personal care and beauty occupy the largest chunk of the worldwide subscription e-commerce market, with changing lifestyles, work schedules, customisation and convenience among the chief future drivers.

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MATCH INFO

Manchester City 3 (Silva 8' &15, Foden 33')

Birmginahm City 0

Man of the match Bernado Silva (Manchester City)

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Updated: August 07, 2025, 12:40 PM