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Business

HOBALLAH: LEBANON WILL SECURE LIQUIDITY WITHIN 14 DAYS

Business
Minister of Industry, Dr. Imad Hoballah, announced that "the ministers in the government are seeking to exert more efforts, but the Lebanese are well-aware that the regime that has governed over the past years destroyed all the foundations, which makes the process of reform and rescue difficult." Hoballah, whose positions came during an interview with "Al-Manar" TV Station today, said that "the economic, financial and monetary situation is not good, as there are losses and deficits of about one hundred billion dollars." The Minister disclosed that Lebanon" will guarantee liquidity from abroad within about 14 days, which will contribute to reviving the market and moving the economy," without giving further details. Commenting on the economic relations between Lebanon, Syria, and ot

Syrian, Iranian talks to expand economic and investment cooperation

Business
Tehran, Iranian Economy and Finance Minister, Farhad Dejpasand, discussed on Saturday with Syria’s Ambassador in Tehran, Dr. Adnan Mahmoud, means of broadening economic and investment cooperation between Syria and Iran and with friendly states in a way that boosts their resilience in the face of economic war and unjust sanctions targeting the two states. During the meeting, the two sides agreed to continue executive measures to establish a joint free industry zone as to contribute to boosting the industrial and production capabilities of Syria and rebuild infrastructure that was targeted by the terrorist war against the country. They stressed the need for a joint work by the two governments to boost strategic relations on the economic and investment levels and activating the role of

International Business Times: Trump Ordered Syria’s Wheat Crop Burning

Business
Singapore, International Business Times website, of Singapore edition, revealed in a report posted yesterday that the fires which erupted in the wheat fields in Syrian al-Jazeera region were lately carried out by US occupation forces. An American aircraft has reportedly dropped thermal balloons over agricultural lands in Syria’s northeastern province of Hasakah, setting fire to wheat crops in the area. The report titled “Confirmed Trump Ordered Syria’s Wheat Crop Burning During Pandemic” said that the US forces were carrying out the orders of US President Donald Trump. Local and civil sources in Hasaka countryside affirmed that a US Apache aircraft dropped on May 17th thermal balloons on lands near Shaddadi in Hasaka countryside, burning more than 200 Hectares planted with wheat.

HOBALLAH: FOOD SECURITY, SUCCESS OF INDUSTRIALISTS AND FARMERS CAN ONLY BE ACHIEVED THROUGH OPENNESS TO EAST

Business
Minister of Industry Imad Hoballah tweeted this Friday: "The government of Lebanon is in favor of a free economic system, and we will build upon our capabilities. We will not allow anyone to blackmail us. Our food, industrial and social security, and the success of our industrialists, farmers, and merchants, will only be achieved by our openness towards the east. We will not wait for a signal from anyone, as those who are 'waiting for a signal' have already beat us there."   "Let us aim east, through Syria, towards the Gulf countries, Iraq, and the rest of the friendly Arab and eastern countries. Let our products be enjoyed by their natural and historical favorers. Let us go east, beyond Syria, Iraq and the Gulf, to ease the dollar pressure on the lira, and to deal a blow to smu...

Gatilov: Economic sanctions imposed on Syria hinder efforts for combating coronavirus

Business
Moscow, Russia’s Permanent Representative to the UN Office in Geneva Gennady Gatilov has affirmed that the economic sanctions imposed on Syria by the U.S. and EU member states hinder the exerted efforts for fighting the novel coronavirus (Covid-19) and for delivering aid to the needy. During the Valdai International Discussion Club online discussions which were titled “Combating COVID-19 in Conflict: The Syrian Experience”, Gatilov called on Western diplomats to prevent from politicizing this file and to provide support for Syria’s efforts in this domain and not to limit the aid to the areas which are under the control of terrorists. The Russian diplomat hailed the relentless efforts exerted by Syria and its speedy response and serious stances for preventing the outbreak of the pande

Agricultural Development Fund Obtains ISO Business Continuity Certificate

Business
Riyadh, Agricultural Development Fund has obtained ISO 22301:2019 Certificate for business continuity management system. With this, Agricultural Development Fund becomes one of the first institutions in the Kingdom of Saudi Arabia and in the Middle East to obtain ISO 22301 in its latest edition that was released on October, 2019. ISO 22301:2019 standard enables institutions to respond quickly and effectively when facing crisis or threats of external risks. Meeting the standards of the certificate helps the institutions to reduce the possibility of systems hacking, disruption in the workflow or damage to the property of the institution. This certificate is one of the most reliable certifications for information technology. It provides a comprehensive management process to identify potentia...

HOBALLAH, MORTADA VISIT BEKAA

Business
Ministers of Industry and Agriculture, Imad Hoballah and Abbas Mortada, stressed the importance of supporting the productive sectors in the Bekaa, especially those related to the food industries, and the need to combat smuggling and close illegal crossings. The Ministers' words came during a meeting held at the Gardenia Grain D'or Complex in Zahle, at the invitation of the Head of the Industrialists' Gathering in the Bekaa region, Nicolas Abu Faisal, in the presence of MP George Aqais, Anwar Jumaa, Eddy Demerjian and former Minister Elie Marouni. Taking the word, Minister Mortada pointed out that "the government is determined to transform Lebanon's economy from a rentier to a productive one." Mortada dicslosed that "the Ministry of Agriculture is currently surveying lands in Leban...

Valenta: Western coercive economic measures imposed on Syria “inhuman, lack any logic”

Business
Prague, Member of the Czech Parliament Jiří Valenta has condemned the Western unilateral coercive economic measures imposed on Syria, affirming that they are “Inhuman and they lack any logic or sense.” In a statement to SANA correspondent in Prague on Saturday, Valenta noted that the US which seeks to control the world and its resources is the main reason behind those measures which aim at achieving certain agendas. The Czech parliamentarian pointed out that the European states, particularly the Western ones are in a state of subordination to the US. Source: Syrian Arab News Agency

Jazan Provides KSA with 20 per cent of its whole Fish Production

Business
Jizan, The Red Sea coastal Jazan Region plays a major role in securing food security for the Kingdom of Saudi Arabia as it, annually, produces more than 10,460 metric tons of fish, in particular, and seafood, in general. Jazan Region territorial waters lying along over 250 km, from Shaqiq district to the North to Mausam to the South, in addition to a cluster of islands, mainly Farasan archipelago. Fish production, in Jazan, constitutes 35 per cent of the whole Red Sea fisheries output, representing almost 20 per cent of the Kingdom's total fish production. In fact, the production includes other seafood such as shrimps, crustaceans and mollusks, moss or alga, etc. Fishery, in Jazan is a robust industry employing about 6 thousand fisherman, taking advantage of the scale economies, and enabl...

Social Development Bank Earmark over SR9 billion for Micro Enterprises, Self-employed Businesses

Business
Riyadh, The Social Development Bank, recently, launched an array of initiatives aiming at backing up micro-enterprises and establishments, in addition to self-employed entrepreneurs. The appropriations of the bank earmarked to them worth more than SR9 billion, in response to the latest government driven fiscal decisions and procedures to take the side of the citizens, individuals and the private sector establishments, notably those badly affected by the current Coronavirus crisis, to alleviate their financial and economic burdens resulting from the pandemic and in response to the government of the Kingdom of Saudi Arabia strenuous efforts exerted to combat the financial and economic fallout of the crisis. The bank dedicated SR8 billion for the promising and of priority enterprises, among ...