Syrian Finance Minister to Asharq Al-Awsat: Syrian-Saudi Investment Forum Will Be Held Soon

Syrian Minister of Finance Mohammed Yisr Barnieh poses for a picture ahead of the opening of the stock market in the Yafur area near Damascus on June 2, 2025. (AFP)
Syrian Minister of Finance Mohammed Yisr Barnieh poses for a picture ahead of the opening of the stock market in the Yafur area near Damascus on June 2, 2025. (AFP)
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Syrian Finance Minister to Asharq Al-Awsat: Syrian-Saudi Investment Forum Will Be Held Soon

Syrian Minister of Finance Mohammed Yisr Barnieh poses for a picture ahead of the opening of the stock market in the Yafur area near Damascus on June 2, 2025. (AFP)
Syrian Minister of Finance Mohammed Yisr Barnieh poses for a picture ahead of the opening of the stock market in the Yafur area near Damascus on June 2, 2025. (AFP)

Syrian ministers praised on Monday the ongoing support Saudi Arabia is providing to the “new Syria.”

Speaking to Asharq Al-Awsat on the sidelines of the reopening of the Damascus Securities Exchange, Finance Minister Mohammed Yisr Barnieh stressed: “We appreciate Saudi Arabia’s support.”

“Our brothers in Saudi Arabia have backed us in full at the international level and in returning Syria to international financial institutions,” he added, while hailing it for supporting lifting sanctions off the country.

He highlighted Saudi Foreign Minister Prince Faisal bin Farhan bin Abdullah’s visit to Syria last week at the head of a large economic delegation.

Saudi investments are on their way to Syria, Barnieh remarked, revealing that a Saudi-Syrian investment forum will be held on June 18 and 19.

Major Saudi companies will take part in the forum to explore promising investment opportunities in various fields, added the minister.

Syrian Economy and Industry Minister Mohammed Nidal al-Shaar echoed the praise for Saudi Arabia, saying it was “natural, inevitable and destined.”

He expressed his joy “at the excitement and determination we sensed from the Saudi delegation in helping Syria along its long path of reconstruction.”

Joint teams have started work on agreements reached with the Saudi delegation, he revealed, expecting tangible results to be reached within a few weeks.

Prince Faisal met during his visit with interim President Ahmed al-Sharaa and Foreign Minister Asaad al-Shaibani.

Trading resumed on the Damascus Securities Exchange on Monday after a six-month closure, as Syria's new leaders attempt to shore up the country's battered economy and begin rebuilding after nearly 14 years of civil war.



Saudi E-Commerce Hits Record Monthly Sales over SAR30.7 Billion in October

A view of Riyadh, Saudi Arabia. (SPA file)
A view of Riyadh, Saudi Arabia. (SPA file)
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Saudi E-Commerce Hits Record Monthly Sales over SAR30.7 Billion in October

A view of Riyadh, Saudi Arabia. (SPA file)
A view of Riyadh, Saudi Arabia. (SPA file)

E-commerce sales in Saudi Arabia via "mada" cards soared to an all-time monthly high in October 2025, surpassing SAR30.7 billion.

The surge in sales represents a 68% year-on-year increase, totaling about SAR12.4 billion more than the SAR18.3 billion recorded in October 2024, according to the Saudi Central Bank (SAMA) statistical bulletin on Wednesday.

E-commerce sales for the third quarter (Q3) of 2025 hit SAR88.3 billion, up 15.2% from the previous quarter, representing an increase of about SAR11.6 billion over the SAR76.6 billion recorded in Q2.

On a monthly basis, e-commerce sales in October rose 6%, gaining approximately SAR1.6 billion over September’s total of SAR29.1 billion.

From January to October, "mada" data showed e-commerce sales grew 47.3%, rising by around SAR9.9 billion over the SAR20.9 billion recorded in January.

These figures cover transactions made via "mada" cards on e-commerce websites, apps, and digital wallets, and do not include credit-card payments.


Jeddah's King Abdulaziz Airport Launches First Direct Flight to Moscow

The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)
The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)
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Jeddah's King Abdulaziz Airport Launches First Direct Flight to Moscow

The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)
The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)

Jeddah's King Abdulaziz International Airport (KAIA) celebrated the launch of its first direct flynas flight to Moscow, operating three weekly flights between Jeddah and Vnukovo International Airport.

This initiative, in partnership with the Saudi Tourism Authority and the Air Connectivity Program, boosts air links between Saudi Arabia and Russia.

It marks KAIA's third direct Russian destination, following Makhachkala and Mineralnye Vody, which were inaugurated earlier this month by Azimuth Airlines.

The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location.


China Widens Foreign Investment Incentive List to Stem Falling Inflows

People visit a shopping center in Beijing on December 20, 2025. (AFP)
People visit a shopping center in Beijing on December 20, 2025. (AFP)
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China Widens Foreign Investment Incentive List to Stem Falling Inflows

People visit a shopping center in Beijing on December 20, 2025. (AFP)
People visit a shopping center in Beijing on December 20, 2025. (AFP)

China on Wednesday listed more sectors eligible for foreign investment incentives, from tax breaks to preferential ​land use, in its latest effort to stem a prolonged decline in overseas capital inflows.

Under the 2025 edition of the catalogue of industries for encouraging foreign investment, China added more than 200 and revised about 300, with a ‌focus on ‌advanced manufacturing, modern services and ‌green ⁠and ​high-tech ‌sectors, the list jointly issued by the National Development and Reform Commission and the commerce ministry showed.

The new catalogue, which takes effect on February 1, 2026, replaces the 2022 version and continues a policy framework ⁠that offers foreign-invested enterprises tariff exemptions on imported equipment, preferential ‌land pricing, reduced corporate income ‍tax rates in ‍designated regions and tax credits for reinvestment ‍of profits.

The catalogue also extends incentives to central and western regions, as well as the northeast and Hainan, as Beijing seeks to attract ​more foreign investment into less developed areas.

China has in recent months ⁠taken a raft of measures to boost foreign investment, including pilot programs in Beijing, Shanghai and other regions to expand market access in services such as telecoms, healthcare and education, amid trade tensions with the United States.

Foreign direct investment in China totaled 693.2 billion yuan ($98.84 billion) from January to November this year, down 7.5% from the ‌same period last year, data from the commerce ministry showed.