Subjects – Syria Report



After a three-year legal battle against the Arab Syrian Company for Touristic Establishments, the Damascus governorate has taken control of the Cham Palace Hotel, a landmark property in central Damascus, according to ASCTE’s disclosure to Syrian Commission of Financial Markets and Securities in June. The ASCTE confirmed that the Damascus Governorate acquired all the shares of the  company that owns the property after it exhausted all legal avenues to contest the arbitration decision.
Following the massive leak of personal data of 3.3 million Syrians living in Turkey on July 4, the U.N. Refugee Agency (UNHCR) has received calls “through its national counselling lines from Syrians expressing concerns that data leak may impact their safety,” Selin Unal, UNHCR Turkey spokesperson told The Syria Report.
The Syrian government is advancing its plan to restructure the subsidies system and shift from subsidising items that can be bought through the Smart Card system, to directly transferring cash subsidies to citizens, according to a statement by the government on June 25. In that statement, the government instructed Syrians who have Smart Cards but no bank accounts to open one within three months in order to receive the cash handouts.
A total of EUR 2.51 billion in loans was pledged by the World Bank, the European Investment Bank and France for 2024 and beyond for countries hosting Syrian refugees at the Brussels VIII Conference held in May. The amount represents a steep decline from the EUR 4 billion loans pledged last year.
As the Syrian Pound is going through its most stable period for six years, the Central Bank of Syria (CBS) has unified the exchange rate for remittances between local banks and money exchange companies in a bid to “streamline banking operations,” according to a CBS statement on June 13.



Hovag is a Damascus-based company that provides electric equipment and machines but also electrical engineering services.
Selling, producing bulk and packaged black Portland cement according to international specifications and importing all equipment, machines and raw materials for the cement industry and its accessories,.
The General Organisation for Land Development, or General Organisation for Land Reclamation, is responsible to conduct the study, design, and execution of irrigation and land reclamation projects within a national plan covering 430,000 hectares, including efforts in Aleppo, Raqqa, and Deir ez-Zor provinces.
Petra Monetics is a provider of electronic payment services and provides a payment gateway system.