عربي English Türkçe اردو فارسى
Logo
Latest News
Arab World

Syrian Regime Launches Campaign Against Businessmen to Back the Lira

A currency exchange shop in Syria's Azaz. Reuters file photo
A currency exchange shop in Syria's Azaz. Reuters file photo
TT
TT

Syrian Regime Launches Campaign Against Businessmen to Back the Lira

A currency exchange shop in Syria's Azaz. Reuters file photo
A currency exchange shop in Syria's Azaz. Reuters file photo

The Syrian regime is forcing entrepreneurs and businessmen to pay millions of US dollars to the Central Bank to save the country from bankruptcy.

A meeting held at the Sheraton Hotel in Damascus on Saturday was attended by Syria’s Central Bank Governor Hazem Karfoul, and businessmen Samer Foz, Mohammad Hamsho, Waseem al-Qattan, brothers Hossam and Bara’ al-Katerji, in addition to Ghassan al-Qala'a, chairman of Damascus Chamber of Commerce. It aimed to discuss an initiative announced by the businessmen to increase the deteriorating value of the Syrian lira to the US dollar.

The gathering was held behind closed doors and under strict confidentiality. Later, reports said that Foz had made a 10-million-dollar pledge to support the Syrian lira.

Economic experts told Asharq Al-Awsat that the Central Bank governor is exerting pressure on the businessmen to release funds.

Other than Foz, none of them announced following Saturday’s meeting, his intention to secure funds.

“The businessmen believe the regime is seeking to take over their assets, despite having amassed their great wealth illegally and under the gaze of the regime,” the experts said.

Persons familiar with the meeting told Asharq Al-Awsat that following two hours of closed-door talks, none of the conferees made a statement to the press.

On its Facebook page, the Damascus Chamber of Commerce said that participants agreed to deposit money in US dollar, each according to his ability, in an attempt to increase the value of the Syrian pound against the dollar.

Early this month, Damascus residents were shocked after the Syrian pound weakened to its lowest level as the pound closed at 691 against the dollar in the streets while it stood at 438 pounds per dollar at the daily benchmark set by the Central Bank.

The regime’s campaign against Syrian businessmen started when reports said that head of the Syrian regime, Bashar Assad, ordered measures against companies owned by his cousin, Rami Makhlouf, in Syria.

The measures involved action against Makhlouf’s shares in the state-owned Syrian Telecom Company (Syriatel), the country’s biggest mobile phone company.

Most Viewed

 
 
Arab World

Iran Military Says to Hit US, Israeli Economic Targets in Region

A photograph shows the damage in the aftermath of a drone strike in the Seef district of Manama on March 10, 2026. (Photo by AFP)
A photograph shows the damage in the aftermath of a drone strike in the Seef district of Manama on March 10, 2026. (Photo by AFP)
TT
TT

Iran Military Says to Hit US, Israeli Economic Targets in Region

A photograph shows the damage in the aftermath of a drone strike in the Seef district of Manama on March 10, 2026. (Photo by AFP)
A photograph shows the damage in the aftermath of a drone strike in the Seef district of Manama on March 10, 2026. (Photo by AFP)

Iran's military vowed on Wednesday to launch strikes against US and Israeli economic targets in the region, including banks, after overnight attacks reportedly hit an Iranian bank.

"The enemy has given us free rein to target economic centers and banks belonging to the United States and the Zionist regime," said the military's central operational command, Khatam Al-Anbiya, in a statement carried by state TV.

It urged people across the region to refrain from going within one kilometer of banks.

Iranian media said US and Israeli strikes hit a bank in Tehran overnight, killing an unspecified number of employees.

Arab World

Report: Drone Hits US Diplomatic Facility in Iraq, No Injuries Reported

The US embassy headquarters in Iraq is pictured in Baghdad's fortified Green Zone on March 8, 2026. (AFP)
The US embassy headquarters in Iraq is pictured in Baghdad's fortified Green Zone on March 8, 2026. (AFP)
TT
TT

Report: Drone Hits US Diplomatic Facility in Iraq, No Injuries Reported

The US embassy headquarters in Iraq is pictured in Baghdad's fortified Green Zone on March 8, 2026. (AFP)
The US embassy headquarters in Iraq is pictured in Baghdad's fortified Green Zone on March 8, 2026. (AFP)

A drone struck a major US diplomatic facility in Iraq on Tuesday amid the US-Israeli air war on Iran, but there were no injuries and everyone was accounted for, according to a US official and an internal State Department alert seen by Reuters.

The drone hit the Baghdad Diplomatic Support Center, next to the Baghdad airport, impacting near a guard tower, the internal alert from the Department seen by Reuters said. Individuals at the facility were ordered to "duck and cover", it said. A separate alert said everyone was accounted for.

The White House and the State Department did not immediately respond to a request for comment.

The Washington Post ‌first reported the ‌incident and said a total of six drones were launched ‌toward ⁠the compound in ⁠Baghdad and that five were shot down. It also said the attack was likely carried out by the Islamic Resistance in Iraq, an umbrella group of Iran-backed armed factions.

Iraq condemned the attacks near the Iraqi bases but did not mention the damaged US facility, according to the Washington Post.

"The (Iraqi) Ministry of Defense stresses that it will not stand by as a spectator. Rather, it will firmly confront and pursue ... all parties involved," ⁠the ministry said in a statement cited by the newspaper.

The US ‌and Israel began attacks on Iran on ‌February 28. Iran has responded with its own strikes on Israel and Gulf countries with US ‌bases.

Raising the stakes for the global economy, Iran's Revolutionary Guard Corps said ‌it would block oil shipments from the Gulf unless US and Israeli attacks cease.

The United States and Israel pounded Iran on Tuesday with what the Pentagon and Iranians on the ground called the most intense airstrikes of the war, despite global markets betting that President Donald ‌Trump will seek to end the conflict soon.

Trump has said the strikes were aimed to eliminate what he called imminent threats from Iran, citing its nuclear and ballistic missile programs and its support for the Hamas and Hezbollah groups.

Iran, which denies seeking a nuclear weapon, has called the attacks an unlawful violation of its sovereignty. Iran does not have nuclear weapons. Israel is believed to be the only country in the region with nuclear weapons, while Washington is also nuclear-armed.

Israel says 11 civilians have been killed in Iranian attacks. Iran's UN ambassador said on Tuesday the US-Israeli strikes had killed more than 1,300 civilians.

Arab World

Three Vessels Hit by Projectiles in Strait of Hormuz

The Callisto tanker sits anchored as the traffic is down in the Strait of Hormuz, amid the US-Israeli conflict with Iran, in Muscat, Oman, March 10, 2026. REUTERS/Benoit Tessier
The Callisto tanker sits anchored as the traffic is down in the Strait of Hormuz, amid the US-Israeli conflict with Iran, in Muscat, Oman, March 10, 2026. REUTERS/Benoit Tessier
TT
TT

Three Vessels Hit by Projectiles in Strait of Hormuz

The Callisto tanker sits anchored as the traffic is down in the Strait of Hormuz, amid the US-Israeli conflict with Iran, in Muscat, Oman, March 10, 2026. REUTERS/Benoit Tessier
The Callisto tanker sits anchored as the traffic is down in the Strait of Hormuz, amid the US-Israeli conflict with Iran, in Muscat, Oman, March 10, 2026. REUTERS/Benoit Tessier

Three vessels have been hit by unknown projectiles in the Strait of Hormuz, maritime security agencies and sources said on Wednesday, as one of the strikes led to a fire onboard a ship and forced most of its crew to evacuate it.

The Thailand-flagged bulk carrier Mayuree Naree was targeted and damaged approximately 11 nautical miles north of Oman, two maritime security sources said.

The United Kingdom Maritime Trade Operations (UKMTO) said later, referring to the ⁠incident, that the ⁠fire had been extinguished and that there was no environmental impact. Necessary crew remained on the vessel.

Earlier, the Japan-flagged container ship One Majesty had sustained minor damage from an unknown projectile 25 nautical miles (46 km) northwest of Ras Al ⁠Khaimah in the United Arab Emirates, two maritime security sources said.

Its crew members are safe and the vessel is sailing towards a safe anchorage, the sources added.

A third vessel, a bulk carrier, was also hit by an unknown projectile approximately 50 miles northwest of Dubai, maritime security firms said.

The projectile had damaged the hull of the Marshall Islands-flagged Star Gwyneth, maritime risk management company Vanguard ⁠said, adding ⁠that the vessel's crew were safe.

US President Donald Trump said in social media posts there were no reports of Iran planting explosives in the Strait of Hormuz, through which 20% of the world’s oil is shipped.

The US said it took out more than a dozen minelaying Iranian vessels Tuesday to help prevent any attempt to close the waterway.

Iran's vow not to allow any oil through the strategic strait has led to market volatility and fears of shortages, especially in Asia, which is dependent on oil shipped from the region.

Some tankers, believed linked to Iran, are continuing to get through the Strait of Hormuz.

Some of the ships getting through are so-called “dark” transits, meaning they aren’t turning on their Automatic Identification System tracks, which show where vessels are.

Vessels carrying sanctioned Iranian crude often turn off their AIS trackers.

The security firm Neptune P2P Group said Wednesday that seven ships had passed through the strait since March 8. Of those, five were linked to Iranian-associated shipping, it said.

The commodity-tracking firm Kpler said Iran has restarted crude exports through its Jask oil terminal on the Gulf of Oman.

A tanker loaded roughly 2 million barrels at Jask on March 7, the firm said.