Almost all the lending of the Commercial Bank of Syria, Syria’s largest lender, is funding Government food purchases, according to a statement from officials from the bank.
Syrian investors in Jordan led the rankings of foreign investors in the first seven months of this year, according to official statistics.
The Syrian Government will seek new funds from Iran to help it finance its food imports.
The European Union has added new companies and individuals to its sanctions list, including two Lebanese companies and a prominent Syrian businessman.
The Syrian Government increased last week the price of water and electricity supplied to Syrian households following the increases in the prices of basic commodities approved the previous week.
During a speech last week following his re-election, and as the Syrian air force and army continued to bomb various parts of the country, Syrian President Bashar Al-Assad said that the coming period would see his Government focus on rebuilding damaged physical assets.
Syria’s gross domestic product is forecast to grow this year for the first time since the beginning of the uprising in 2011, a Government official said.
The number of companies established by Syrians based in Turkey surged in the first half of this year, putting them again on the top of the list of foreign investors in the country.
The UN Security Council on Monday allowed the supply of humanitarian aid to opposition-held areas without the prior approval of the Syrian authorities.
The National Coalition, Syria’s largest opposition grouping, has elected a new president to succeed Ahmad Jarba.
Three more companies, including one based in the UAE, have been blacklisted by the US for their alleged support of the Syrian regime.
Syria has raised by up to 100 percent the price of bread, sugar and rice, three staple foods for the Syrian population.
The number of investment projects licensed by the Syrian Investment Agency in the first half of this year was equivalent to its level of 2012, confirming the relative increase in private sector investments in some parts of the country.
The European Court of Justice has lifted sanctions imposed by the EU on Syria’s former Minister of Economy.
Russia will provide a grant worth several hundred million dollars to the Syrian Government under an agreement signed last May.
Damascus International Fairground
Dama Rose Damascus Hotel