More Companies Shut Down in Syria’s Regime-Run Areas

A general view of Damascus in 2018 (Reuters)
A general view of Damascus in 2018 (Reuters)
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More Companies Shut Down in Syria’s Regime-Run Areas

A general view of Damascus in 2018 (Reuters)
A general view of Damascus in 2018 (Reuters)

Areas controlled by the Syrian regime have witnessed the liquidation of 50 companies in the last three months, reported the government-aligned Al-Watan daily.

This is equivalent to 75% of the total number of companies that have dissolved themselves since the beginning of 2022, which amounted to 79 companies, according to the director of companies at the Ministry of Internal Trade and Consumer Protection of the regime, Zain Safi.

Al-Watan also said that the owners of the dissolved companies refused to comment to the media about the reasons their businesses were shut down.

Hassan Hazouri, a lecturer at the Faculty of Economics at Aleppo University, believes that the regime’s policies have transformed the Syrian economy from a productive economy to a service economy.

It did that by encouraging sectors such as tourism and trade, at the expense of real production sectors such as agriculture and industry.

Hazouri further criticized Damascus’ ill-considered policies when it comes to resolving economic problems. These policies have ruined the economic standing of Syria further, which prompted an exodus of local businesses.

Moreover, many business owners in Syria were forced to either permanently or temporarily shut down their operations. Those who didn’t sell or liquidate their business, left their company working at minimum capacity.

Last September, Syrian businessman Ayman Bergenjiki, owner of Indomie Syria, announced that the factories producing the instant noodles have permanently ceased operations in Syria. He then reversed this declaration by indicating that it could potentially resume work.

Last week, local media also reported the closure of about 25% of dairy and cheese production workshops and facilities. The closure came as the dollar exchange rate exceeded the threshold of SYP 5,000.

The rise in the dollar exchange rate in Syria has produced market turmoil and a hike in production costs.



Israel, Hamas Poised for Third Hostage-prisoner Exchange

An Israeli police officer looks on as a Red Cross vehicle is seen near the Israeli military prison, Ofer, on the day Israel releases Palestinian prisoners as part of a hostages-prisoners swap and a ceasefire deal in Gaza between Hamas and Israel, near Ramallah in the Israeli-occupied West Bank, January 19, 2025. (Reuters)
An Israeli police officer looks on as a Red Cross vehicle is seen near the Israeli military prison, Ofer, on the day Israel releases Palestinian prisoners as part of a hostages-prisoners swap and a ceasefire deal in Gaza between Hamas and Israel, near Ramallah in the Israeli-occupied West Bank, January 19, 2025. (Reuters)
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Israel, Hamas Poised for Third Hostage-prisoner Exchange

An Israeli police officer looks on as a Red Cross vehicle is seen near the Israeli military prison, Ofer, on the day Israel releases Palestinian prisoners as part of a hostages-prisoners swap and a ceasefire deal in Gaza between Hamas and Israel, near Ramallah in the Israeli-occupied West Bank, January 19, 2025. (Reuters)
An Israeli police officer looks on as a Red Cross vehicle is seen near the Israeli military prison, Ofer, on the day Israel releases Palestinian prisoners as part of a hostages-prisoners swap and a ceasefire deal in Gaza between Hamas and Israel, near Ramallah in the Israeli-occupied West Bank, January 19, 2025. (Reuters)

Israel and Hamas were set to carry out their third hostage-prisoner exchange on Thursday, with three Israelis and five Thai captives slated for release as part of a ceasefire deal aimed at ending the Gaza war.

A fourth exchange is scheduled for the weekend, but Hamas accused Israel on Wednesday of jeopardizing the deal by holding up aid deliveries, an allegation Israel dismissed as "fake news".

The office of Prime Minister Benjamin Netanyahu identified the three Israelis to be released Thursday as Arbel Yehud, Agam Berger and Gadi Moses, adding that five Thai citizens held in Gaza would also be freed.

In a statement Wednesday evening, the Moses family said it had "received with great excitement the wonderful news of our beloved Gadi's return".

The ceasefire that took effect on January 19 hinges on the release of Israeli hostages taken during Hamas's October 7, 2023 attack, in exchange for 1,900 people -- mostly Palestinians -- being held in Israeli custody.

Hamas has so far released seven hostages, with 290 prisoners freed in exchange.

Israel is to release 110 prisoners, 30 of them minors, in exchange for the three Israelis to be released on Thursday, the Palestinian Prisoners' Club advocacy group said.

The next swap on Saturday will see three Israeli men released, according to Netanyahu's office.

Aid trucks

The truce deal has allowed truckloads of aid into the devastated Gaza Strip, where the war has created a long-running humanitarian crisis.

But two senior Hamas officials accused Israel of slowing down aid deliveries, with one citing items key to Gaza's recovery such as fuel, tents, heavy machinery and other equipment.

"According to the agreement, these materials were supposed to enter during the first week of the ceasefire," one official said.

"We warn that continued delays and failure to address these points will affect the natural progression of the agreement, including the prisoner exchange."

Israel hit back at the accusation, with a spokesman for COGAT, the Israeli defense ministry body that oversees civilian affairs in the Palestinian territories, calling it "totally fake news".

Between Sunday and 1100 GMT on Wednesday, "3,000 trucks entered Gaza", the spokesman said.

"The agreement says it should be 4,200 in seven days," he added.

As the text of the agreement -- mediated by Qatar, Egypt and the United States -- between the warring parties has not been made public, AFP was not able to verify its terms on aid.

Both Hamas officials said representatives of the group had raised the issue during a meeting with Egyptian officials in Cairo on Wednesday.

Forced displacement an 'injustice'

The ceasefire deal is currently in its first 42-day phase, which should see 33 hostages freed.

Next, the parties are due to start discussing a long-term end to the war.

The third and final phase of the deal should see the reconstruction of Gaza as well as the return of the bodies of any remaining dead hostages.

US President Donald Trump has repeatedly claimed credit for sealing the agreement despite it taking effect just ahead of his inauguration, and his Middle East envoy Steve Witkoff, who took part in the talks, met with Netanyahu in Israel on Wednesday

Trump has invited Netanyahu to the White House on February 4, according to the premier's office.

After the truce took effect, Trump touted a plan to "clean out" the Gaza Strip, calling for Palestinians to relocate to neighboring countries such as Egypt or Jordan.

The idea has faced strong backlash from both countries, as well as from European governments.

Egyptian President Abdel Fattah al-Sisi said Wednesday that the forced displacement of Palestinians was an "injustice that we cannot take part in".

Jordan's King Abdullah II, meanwhile, stressed "the need to keep the Palestinians on their land and to guarantee their legitimate rights, in accordance with the Israeli and Palestinian two-state solution".

More than 376,000 displaced Palestinians have gone back to northern Gaza since Israel reopened access earlier this week, according to the UN humanitarian office OCHA, with many returning to little more than rubble.

"My house is destroyed," 33-year-old Mohammed Al-Faleh told AFP. "This morning, we built a small room with two walls made from the remains of our home. There is no cement, so I used mud.

"We are facing great difficulties," he added. "The biggest problem is that there is no water -- all the water wells are destroyed. Food aid is reaching Gaza... but there is no gas or electricity. We bake bread on a fire fueled by wood and nylon."