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Int’l Exhibition in Riyadh for Construction, Building Solutions

Riyadh hosts the “Big Five Saudi” exhibition for building industry sustainability (Asharq Al-Awsat)
Riyadh hosts the “Big Five Saudi” exhibition for building industry sustainability (Asharq Al-Awsat)
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Int’l Exhibition in Riyadh for Construction, Building Solutions

Riyadh hosts the “Big Five Saudi” exhibition for building industry sustainability (Asharq Al-Awsat)
Riyadh hosts the “Big Five Saudi” exhibition for building industry sustainability (Asharq Al-Awsat)

In a step that enhances Saudi Arabia's economic, commercial and investment activities, Riyadh is preparing to host the “Big Five Saudi” exhibition for reviewing the latest technologies, innovations and sustainable solutions for construction and leading long-term partnerships.

The Big 5 Saudi exhibition will be opened by Deputy Minister of Industry and Mineral Resources Eng. Osama Al-Zamil.

The exhibition aims to provide a platform for exchanging experiences and providing support to about 400 local and international parties from 35 countries. This is done to enhance cooperation and present more than a thousand solutions and building products to more than 15,000 expected participants who will be attending the exhibition at the Riyadh International Convention and Exhibition Center.

Projects under construction in the Kingdom have a value of over $1.4 trillion, of which the construction and transportation sector account for the lion's share, with a value exceeding $825 billion, according to a report issued by MedProjects.

Muhammad Kazi, vice president of construction at DMG Events, the company organizing the exhibition between March 28 and 31, told Asharq Al-Awsat that it is the first event of its kind in the building materials industry this year.

Kazi noted that the exhibition will feature six sessions with prominent speakers from the Diriyah Gate Development Authority, the Saudi Entertainment Enterprises Company, and the United Nations Global Compact.

The exhibition’s activities, according to Kazi, will deal with sustainable development and leadership in the construction environment in the Kingdom. They will also focus on partnerships to achieve investment in Saudi projects and the adoption of new technologies in the construction industry.

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Syria Says to be Relinked to SWIFT Payment System

A large Syrian flag is raised on a pole at Tishreen Park in Damascus on June 4, 2025. (Photo by LOUAI BESHARA / AFP)
A large Syrian flag is raised on a pole at Tishreen Park in Damascus on June 4, 2025. (Photo by LOUAI BESHARA / AFP)
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Syria Says to be Relinked to SWIFT Payment System

A large Syrian flag is raised on a pole at Tishreen Park in Damascus on June 4, 2025. (Photo by LOUAI BESHARA / AFP)
A large Syrian flag is raised on a pole at Tishreen Park in Damascus on June 4, 2025. (Photo by LOUAI BESHARA / AFP)

Syria will be fully reconnected to the SWIFT international payment system "in a matter of weeks" after more than a decade of sanctions, central bank governor Abdelkader Husrieh told the Financial Times in an interview published on Monday.

We “aim to enhance the brand of the country as a financial hub given the expected foreign direct investment in rebuilding and infrastructure — this is crucial," Husrieh said. “While significant progress has been made, there’s still much work ahead.”

Interim President Ahmed al-Sharaa received a major boost last month when US President Donald Trump unexpectedly lifted sanctions.

While that was a welcome step, “a full policy shift is still needed”, said Husrieh, who began his new job in April. “So far, we’ve only seen license issuance and selective sanctions removal. Implementation must be comprehensive, not ad hoc.”

According to the Financial Times, Husrieh has been working with the finance ministry on “a six to 12 month stabilization plan.” This involves reforming banking laws and the central bank, and overhauling social security and housing financing to encourage Syrians in the diaspora to invest in the country, among other initiatives.

Husrieh wants to end the Assad regime’s interventionist legacy, and restore lending capabilities, transparency and trust.

“The central bank previously micromanaged the financial system, over-regulated lending, and restricted deposit withdrawals,” he said. “We aim to reform the sector through recapitalization, deregulation and by re-establishing their role as financial intermediaries between households and businesses.”

SWIFT’s return will help encourage foreign trade, cut import costs and facilitate exports, he said. It would also bring much-needed foreign currency into the country, strengthen anti-money laundering efforts and ease the dependence on informal financial networks for cross-border trade.

“The plan is for all foreign trade to now be routed through the formal banking sector,” Husrieh said, thereby eradicating the role of money changers who would charge 40 cents of every dollar that came into Syria. He said banks and the central bank have been assigned Swift codes, and the “remaining step is for correspondent banks to resume processing transfers.”

Foreign investment will also be shored up by guarantees, he said. While the public banking sector is already fully backed by the government, Husrieh is looking to establish a state institution to guarantee private banks’ deposits.