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Syria to Start Currency Swap on January 1st, Central Bank Governor Says

Syrian pounds are pictured inside an exchange currency shop in Azaz, Syria February 3, 2020. Picture taken February 3, 2020. REUTERS/Khalil Ashawi/File Photo
Syrian pounds are pictured inside an exchange currency shop in Azaz, Syria February 3, 2020. Picture taken February 3, 2020. REUTERS/Khalil Ashawi/File Photo
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Syria to Start Currency Swap on January 1st, Central Bank Governor Says

Syrian pounds are pictured inside an exchange currency shop in Azaz, Syria February 3, 2020. Picture taken February 3, 2020. REUTERS/Khalil Ashawi/File Photo
Syrian pounds are pictured inside an exchange currency shop in Azaz, Syria February 3, 2020. Picture taken February 3, 2020. REUTERS/Khalil Ashawi/File Photo

Syria will start swapping old banknotes for new ones under a ​plan to replace Assad-era notes starting from January 1, 2026, Central Bank Governor Abdelkader Husrieh said on Thursday.

Husrieh announced the introduction of the new Syrian currency, saying the decree "sets January ‌1, 2026, ‌as the start date ‌for ⁠the ​exchange ‌process". Sources familiar with the matter told Reuters in August that the country will issue new banknotes, removing two zeros from its currency in an attempt to restore ⁠public confidence in the severely devalued pound.

The ‌step is intended ‍to strengthen ‍the Syrian pound after its purchasing ‍power collapsed to record lows following a 14-year conflict that ended with President Bashar al-Assad's ouster in December.

Husrieh ​said the operation will take place through a smooth and orderly ⁠swap - a move bankers hope will ease fears that the new currency could fuel inflation and further erode the purchasing power of Syrians already reeling from high prices.

He added that a press conference will soon outline the exact regulations and mechanisms.

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Arab World

Türkiye Begins Black Box Analysis of Jet Crash That Killed Libyan Military Chief and 7 Others

Libyan national flags fly at half-mast in Tripoli on December 24, 2025, after the head of Libya's armed forces and his four aides died in a plane crash in Türkiye. (AFP)
Libyan national flags fly at half-mast in Tripoli on December 24, 2025, after the head of Libya's armed forces and his four aides died in a plane crash in Türkiye. (AFP)
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Türkiye Begins Black Box Analysis of Jet Crash That Killed Libyan Military Chief and 7 Others

Libyan national flags fly at half-mast in Tripoli on December 24, 2025, after the head of Libya's armed forces and his four aides died in a plane crash in Türkiye. (AFP)
Libyan national flags fly at half-mast in Tripoli on December 24, 2025, after the head of Libya's armed forces and his four aides died in a plane crash in Türkiye. (AFP)

The technical analysis of the recovered black boxes from a jet crash that killed eight people, including western Libya’s military chief, began as the investigation proceeded in cooperation with Libyan authorities, the Turkish Ministry of Defense said Thursday.

The private jet with Gen. Muhammad Ali Ahmad al-Haddad, four other military officials and three crew members crashed on Tuesday after taking off from Türkiye’s capital, Ankara, killing everyone on board. Libyan officials said the cause of the crash was a technical malfunction on the plane.

The high-level Libyan delegation was on its way back to Tripoli after holding defense talks in Ankara aimed at boosting military cooperation between the two countries.

The wreckage was scattered across an area covering 3 square kilometers (more than a square mile), complicating recovery efforts, according to the Turkish Interior Minister Ali Yerlikaya.

A 22-person delegation, including five family members, arrived from Libya early on Wednesday to assist in the investigation.

Arab World

Lebanese President: We are Determined to Hold Parliamentary Elections on Time

President Joseph Aoun between Prime Minister Nawaf Salam and Speaker Nabih Berri (Lebanese Presidency file photo)
President Joseph Aoun between Prime Minister Nawaf Salam and Speaker Nabih Berri (Lebanese Presidency file photo)
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Lebanese President: We are Determined to Hold Parliamentary Elections on Time

President Joseph Aoun between Prime Minister Nawaf Salam and Speaker Nabih Berri (Lebanese Presidency file photo)
President Joseph Aoun between Prime Minister Nawaf Salam and Speaker Nabih Berri (Lebanese Presidency file photo)

Lebanese President Joseph Aoun reiterated on Thursday that the country’s parliamentary elections are a constitutional obligation that must be carried out on time.

Lebanon’s state-run National News Agency quoted Aoun as saying that he, alongside Prime Minister Nawaf Salam and Parliament Speaker Nabih Berri, is determined to hold the elections on schedule.

Aoun also emphasized that diplomatic efforts have continued unabated to keep the specter of war at bay, noting that "things are heading in a positive direction".

The agency also cited Berri reaffirming that the elections will take place as planned, with "no delays, no extensions".

The Lebanese parliamentary elections are scheduled for May next year.

Arab World

Israel Calls Countries Condemning New West Bank Settlements ‘Morally Wrong’

Newly constructed buildings are pictured in the Israeli settlement of Givat Zeev near the Palestinian city of Ramallah in the occupied West Bank on October 24, 2025. (AFP)
Newly constructed buildings are pictured in the Israeli settlement of Givat Zeev near the Palestinian city of Ramallah in the occupied West Bank on October 24, 2025. (AFP)
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Israel Calls Countries Condemning New West Bank Settlements ‘Morally Wrong’

Newly constructed buildings are pictured in the Israeli settlement of Givat Zeev near the Palestinian city of Ramallah in the occupied West Bank on October 24, 2025. (AFP)
Newly constructed buildings are pictured in the Israeli settlement of Givat Zeev near the Palestinian city of Ramallah in the occupied West Bank on October 24, 2025. (AFP)

Israel reacted furiously on Thursday to a condemnation by 14 countries including France and Britain of its approval of new settlements in the occupied West Bank, calling the criticism discriminatory against Jews.

"Foreign governments will not restrict the right of Jews to live in the Land of Israel, and any such call is morally wrong and discriminatory against Jews," Foreign Minister Gideon Saar said.

"The cabinet decision to establish 11 new settlements and to formalize eight additional settlements is intended, among other things, to help address the security threats Israel is facing."

On Sunday, Israel's far-right Finance Minister Bezalel Smotrich announced that authorities had greenlit the settlements, saying the move was aimed at preventing the establishment of a Palestinian state.

Fourteen countries, including Britain, France, Germany, Spain and Canada, then issued a statement urging Israel to reverse its decision, "as well as the expansion of settlements".

Such unilateral actions, they said, "violate international law", and risk undermining a fragile ceasefire in Gaza in force since October 10.

They also reaffirmed their "unwavering commitment to a comprehensive, just and lasting peace based on the two-state solution... where two democratic states, Israel and Palestine, live side-by-side in peace and security".

Israel has occupied the West Bank following the 1967 Arab-Israeli war.

Excluding east Jerusalem, which was occupied and annexed by Israel in 1967, more than 500,000 Israelis live in the West Bank, along with about three million Palestinian residents.

Earlier this month, the United Nations said the expansion of Israeli settlements in the West Bank, all of which are illegal under international law, had reached its highest level since at least 2017.