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Syria, Iraq discuss ways of boosting investment cooperation

Director-General of the Syrian Investment Agency (SIA), Median Dyab, discussed with Chairman of Iraq’s National Investment Commission (NIC), Dr. Haider Makiya ways to enhance investment cooperation and activate agreements signed between the two sides.

During the meeting held in the Investment Agency building in Damascus, Dyab gave a presentation on Investment Law No. 18 and its amendments, the benefits and incentives granted to the investor, as well as tax and customs exemptions that it included.

Dyab underlined the need to develop an integrated plan to activate the bilateral memorandum of understanding that was signed in 2021 in a way that achieves the interest of the two countries by encouraging investment in sectors that add value to the Syrian and Iraqi economies.

In turn, Makiya noted the investment aspect between Syria and Iraq attaches special importance to the industry sectors of textile, glass and agriculture, in addition to communicating with businessmen and investors of both sides to draw features of an investment relationship that benefits both countries.

The Iraqi delegation’s visit to the Syrian Investment Agency is prat of the meetings of the 11th session of the joint Syrian-Iraqi committee, which kicked off at Dama Rose Hotel in Damascus, with the participation of representatives from the concerned bodies of both sides, and will last for two days.

Source: Syrian Arab News Agency

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Market

Dollar rate falls to 80.15 rubles as Moscow Exchange trading opens

The dollar-to-ruble rate fell by 10 kopecks to the closure of previous trading and amounted to 80.15 rubles at the opening of trading on the Moscow Exchange on Tuesday.

There were no deals at the euro exchange rate at the beginning of trading.

In turn, the yuan lost 0.3 kopecks amounted to 11.583 rubles

Source: Syrian Arab News Agency

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Market

Meetings of 11th session of Syrian-Iraqi Joint Committee start in Damascus

The 11th session of the Syrian -Iraqi Joint Committee started its meetings on Monday at the Damascus-based Dama Rose Hotel with the participation of Minister of Economy and Internal Trade, Dr. Mohammad Samer al-Khalil and Iraqi Trade Minister Atheer al-Ghurairy.

The current session aims to discuss bilateral cooperation in the domains of economy, trade, agriculture, investment and education.

Minister al-Khalil underlined the importance of enhancing the volume of intra-trade between Syria and Iraq.

According to al-Khalil, the meetings will deal with the issue of customs duties and would address everything that prevents the flow of Syrian products to Iraqi markets or the entry of Iraqi products into Syria, out of both sides’ keenness on increasing the level of trade exchange.

He stressed the need to develop bilateral economic relations in the domain of investment, and to sign initial documents for cooperation in the sectors of health, trade, education and other fields.

Minister al-Khalil hailed the recent measures taken by the Iraqi side with regard to transit and transportation between the two countries and facilitating the entry of Syrian products through Iraq to the markets of other countries, which greatly contributes to saving time and cost.

In turn, the Iraqi Minister of Trade said that launching the work of the joint Syrian-Iraqi committee is a step towards a better future for the Syrian-Iraqi relations in the best interests of the two countries.

He noted that the work of the committee will deal with all sectors and what resulted from the previous meeting of the committee with regard to signing memos of understanding in the fields of health, trade and education.

Minister al-Ghurairy said that the ambition is great to attract Syrian industrial capabilities and expertise inside Iraq, indicating that the Iraqi market is promising, and the laws and legislations are flexible to open up to all sectors.

The Chairman of the Planning and International Cooperation Commission, Dr. Fadi Salti al-Khalil, considered that the comprehensive representation of the two sides in the committee’s meetings indicates a real determination by both countries to develop bilateral cooperation.

“The participation in the talks aims to establish the mutual economic relationship between the Iraqi and Syrian sides,” Ali Abdul Hadi al-Dakhili, Vice-President of the Federation of Iraqi Industries said.

Al-Dakhili added that there is a real desire of the Syrian investor to make investments in Iraq, and there is an intention to transfer the joint industry between the two sides, in a way that would contribute to strengthening the Syrian-Iraqi economic relations.

Source: Syrian Arab News Agency

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General

Conference of the 1st Scientific Day of the Faculty of Arts and Human Sciences kicks off

Activities of the Conference of the 1st Scientific Day of the Faculty of Arts and Human Sciences, Damascus University, kicked off on Tuesday on the centennial anniversary of the foundation of Damascus University.

SANA reporter said that the activities of the conference will include a scientific competition that is held for the first time at the Syrian universities.

The conference, which was held at the conferences Hall in the faculty, in cooperation with Syrian Publishers Union, Arab Writers Union and General Union of Craftsmen, included opening of three exhibitions.

The exhibitions covered posters of scientific theses for postgraduate students ,book exhibition , and the final collection of creation of Syrian craftsmen Union of the ancient heritage crafts, in addition to poems recited by doctorate student at the Arabic Language Department , poet Ghadeer Ismail, University of Damascus, and Faculty of letters and Human Sciences, on the occasion of its 70th anniversary.

Vice-Rector of Damascus university for scientific Affairs, Dr. Mayssa al-Seoufi said in a speech that the university celebrates this year the passing of 100 years of its foundation, and it celebrates the activities of its faculties in different branches that gave this centennial a scientific feature to reflect the accelerated scientific development which the university is witnessing now.

She added that the first scientific day of faculty of letters and human Sciences which is held in close cooperation with governmental and national sides , is an assertion on the importance of preparing scientific competencies, enhancing scientific research, and connecting scientific research to society needs.

Source: Syrian Arab News Agency

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General

Palestinian Embassy in Damascus provides an aid batch for quake victims

Ministry of Local Administration received a batch of humanitarian aid for the earthquake victims on Tuesday provided by the Palestinian Embassy in Damascus.

According to SANA’s reporter the aid includes 9600 food parcels.

Source: Syrian Arab News Agency

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General

Israeli aggression claims life of a soldier, puts Aleppo Airport out of service

A military personnel was martyred and seven others, including two civilians, were injured in Israeli aggression targeting the vicinity of Aleppo city.

The Israeli aggression also put Aleppo International Airport out of service.

A military source told SANA that at about 11:35 PM, the Israeli carried out an aerial aggression using waves of missiles from the direction of southeast Aleppo targeting Its Airport and a number of points in its vicinity.

The source added that the Israeli aggression claimed the life of a military personnel, and the injury of five others and two civilians.

The Israeli aggression also caused material damage and put the Airport out of service.

Source: Syrian Arab News Agency

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Market

Tourism Ministry, BTEA participate in Dubai’s Arabian Travel Market

The Ministry of Tourism and Bahrain Tourism and Exhibitions Authority (BTEA) participated in the 30th edition of the Arabian Travel Market in Dubai, which began on May and runs until May 4.

The event is focused on the theme “Working Towards Net Zero” and brings together global travel industry leaders, decision-makers, and experts from 150 countries. Prominent speakers from the region and the world are also in attendance.

The Ministry of Tourism and BTEA are participating in the exhibition through the Kingdom of Bahrain’s national pavilion, which features 23 Bahraini exhibiting companies including Gulf Air, The Ritz-Carlton Bahrain, Lagoona Beach Resort, Hilton Garden Inn Bahrain Bay, Novotel Al Dana Resort, Four Seasons Hotel Bahrain Bay, The Diplomat Radisson Hotel, Ibn Firnas Travel and Tourism Company, and Visit Bahrain, among others. The pavilion also includes 2,000 exhibiting companies from top hotels, destination management companies, tour operators, and airlines from around the world.

As part of the exhibition’s events, Minister of Tourism, Fatima bint Jaafar Al Sairafi, participated in a ministerial panel discussion under the title of “The Future of Travel for the GCC” where she highlighted the importance of promoting the GCC countries as one destination which in turn will lead to increasing the tourism revenue in the GCC countries as well as increasing the international tourism footfall.

Al-Sairafi also discussed the unprecedented accomplishments of Bahrain’s tourism sector in 2022, noting the Kingdoms major progress and projects, particularly highlighting the new Exhibition World Bahrain.

In addition, she provided some perspective on investment opportunities in the sector and ongoing efforts to promote it both regionally and globally, leaving attendees with a newfound appreciation for Bahrain’s thriving tourism industry.

In a statement, Fatima bint Jaafar Al-Sairafi, emphasised that Bahrain’s participation in the Arabian Travel Market 2023 reflects the Ministry’s and the BTEA’s commitment to investing in major regional and international tourism events to promote the travel and tourism sector in the Kingdom of Bahrain. The goal is to attract more tourists from around the world to Bahrain, particularly from countries that have significant tourism potential, and to continue achieving the strategic goals of Bahrain’s Tourism Strategy 2022 – 2026.

Al-Sairafi added that the Arabian Travel Market is one of the largest tourism and travel exhibitions in the world, showcasing the latest trends and developments in the travel industry and offering favorable opportunities for businesses related to the sector. She emphasized that the Ministry of Tourism and the Bahrain Tourism and Exhibitions Authority have made all necessary preparations to ensure the maximum possible success of Bahrain’s participation in this global event. Moreover, the aim is to forge new partnerships and reach more tourist markets, which will contribute to the development of Bahrain’s tourism industry.

The Bahraini pavilion at the exhibition witnessed an outstanding and noteworthy presence from the participating entities. Visitors from across the globe were given a comprehensive overview of the latest sustainable developments in Bahrain’s tourism facilities, services, and plans to solidify its position as a prominent global hub for “green tourism” and a sustainable tourist destination. This was achieved through the presentation of innovative projects and plans by tourism sector companies that prioritize the preservation of the environment while maintaining the quality of tourist experiences.

The Bahraini tourism entities in attendance also engaged in productive working meetings with regional and international counterparts, wherein they explored opportunities for collaborative efforts to further advance the travel and tourism industry. They also discussed the practical measures taken by Bahraini tourism towards shaping a sustainable tourism future, along with exchanging insights on best practices in the sector.

Through its participation in the Arabian Travel Market, Bahraini tourism companies are demonstrating their dedication to supporting international initiatives aimed at advancing the global tourism industry and achieving the ambitious goal of net zero emissions. They are also actively seeking to establish and strengthen relationships with countries, organizations, companies, and tourism facilities worldwide, with the aim of enhancing cooperation in the fields of tourism and travel at both regional.

Source: Bahrain News Agency

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Market

Mumtalakat Board of Directors Chaired by HE Minister of Finance and National Economy welcomes Shaikh Abdulla bin Khalifa as CEO

Following the directives of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, the Board of Directors of Bahrain Mumtalakat Holding Company (Mumtalakat) chaired by HE Shaikh Salman bin Khalifa Al Khalifa, the Minister of Finance and National Economy and Chairman of the Board of Directors of Mumtalakat, welcomed Shaikh Abdulla bin Khalifa Al Khalifa as the new Chief Executive Officer of Mumtalakat effective 1st May, 2023.

Shaikh Abdulla bin Khalifa Al Khalifa expressed his gratitude and appreciation of the trust given from the Kingdom’s leadership and Mumtalakat’s Board of Directors, adding, “I look forward to working closely with the executive management, the wider Mumtalakat team and portfolio companies to enhance our contribution to the economy of the Kingdom as part of Team Bahrain.”

Prior to joining Mumtalakat, Shaikh Abdulla bin Khalifa Al Khalifa served as Chief Executive Officer of Osool Asset Management, the investment arm of the Social Insurance Organisation, which manages around USD12 billion across different asset classes globally.

Shaikh Abdulla also serves as the Chairman of the Bahrain Telecommunications Company (BEYON) Board of Directors as a representative of Mumtalakat since 2018. In addition, he serves on the boards of the Supreme Council of Youth and Sports and Hope Fund.

Shaikh Abdulla has previously served as the Chairman of the Board of SICO Investment Bank, Vice Chairman of The Bank of Bahrain and Kuwait (BBK), and on the Boards of both financial and non-financial institutions.

Shaikh Abdulla holds a Bachelor of Science degree in Business Administration from George Washington University, USA, and has more than 22 years of experience in the Banking and Financial Services industry.

Source: Bahrain News Agency

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General

HRH the Crown Prince and Prime Minister issues Edict (39) of 2023

His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, today issued Edict (39) of 2023, transferring a director to the Ministry of Youth Affairs, based on a proposal by the Minister of Youth Affairs.

According to the edict, the Director of Planning, Policies and Follow-up at the Secretariat-General of the Supreme Council for Youth and Sports, Mariam Isa Ali Awadh, shall be transferred as Director of the Youth Empowerment Directorate at the Ministry of Youth Affairs.

The Minister of Youth Affairs shall implement the provisions of this edict, which will come into effect from the date of its issuance, and it shall be published in the Official Gazette.

Source: Bahrain News Agency

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General

HRH the Crown Prince and Prime Minister issues Edict (41) of 2023

His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, today issued Edict (41) of 2023, appointing directors at the Labour Market Regulatory Authority (LMRA), based on a proposal by the Chairman of the Board of Directors of the LMRA.

According to the edict, the following directors were appointed:

1- Essam Mohammed Isa Ramadhan, Director of the Human Resources Directorate

2- Shereen Khalil Al-Saati, Director of the Protection and Grievances Centre

3- Mohammed Abdulla Saleh Al-Ahmadi, Director of the Business Development Directorate

4- Hussain Ali Abdulrasool Mohammed, Director of the Communications Directorate

The Minister of Labour and the Chairman of the LMRA Board of Directors shall implement the provisions of this edict, which shall come into effect upon its issuance, and will be published in the Official Gazette.

Source: Bahrain News Agency