PARIS: An executive at Swiss-French cement-maker Lafarge was charged Friday with indirectly financing terror groups through the company’s activities in war-torn Syria, his lawyer said.
Lafarge stands accused of paying the Daesh group and other militants through a middleman in order to allow the company’s factory in Jalabiya, northern Syria, to continue to operate.
The company is also suspected of using fake consulting contracts to buy fuel from Daesh, which took control of most of Syria’s strategic oil reserves in June 2013.
Frederic Jolibois, who took over as manager of the factory in 2014, has been charged with financing terrorism and violating an EU embargo on Syrian oil, his lawyer Jean Reinhart said.
Bruno Pescheux, Jolibois’ predecessor as factory chief between 2008 and 2014, and Lafarge security boss Jean-Claude Veillard were also in court on Friday facing possible charges.
Jolibois has admitted to buying oil from “non-governmental organizations,” notably Kurdish and Islamist groups, in violation of the EU embargo declared in 2011.
Pescheux has meanwhile admitted Lafarge paid up to $100,000 a month to Syrian tycoon Firas Tlass, a former minority shareholder who gave cash to armed factions in order to keep the factory open.
IS would have received around $20,000, Pescheux estimated.
The three are the first to be detained in the probe by French anti-terror and financial crimes judges, who are also looking at whether Lafarge took adequate measures to protect Syrian employees.
Local staff stayed on site while executives fled Damascus for the safety of Cairo in summer 2011. Other foreign workers were evacuated in the months that followed.
Lafarge, which merged in 2015 with Swiss building supplies company Holcim, hung on in Syria for two years after most French companies had left as IS made major territorial gains.
Daesh, who have since lost huge swathes of territory in international military offensives, eventually took over the Jalabiya plant in September 2014.
The Lafarge investigation has gained pace in recent weeks, with police carrying out an extensive search at the company’s Paris headquarters in November.
Three former Syrian employees were also flown out from Syria to give evidence in late September.
Lafarge executive charged with financing Daesh
Lafarge executive charged with financing Daesh
Oman launches 2026–2030 SME plan as fiscal recovery strengthens
RIYADH: Oman has launched a five-year plan to expand its small and medium-sized enterprise sector, seeking to deepen private-sector growth as the sultanate consolidates recent fiscal gains and returns to investment-grade status.
The 2026–2030 SME Sector Implementation Plan, unveiled by the Small and Medium Enterprises Development Authority, or Riyada, aims to improve market access, boost SME competitiveness and raise the sector’s contribution to the economy, according to the Oman News Agency.
The plan supports innovation and entrepreneurship while promoting the transition to a knowledge-based economy, the Oman News Agency reported.
The initiative forms part of Oman Vision 2040 and the Eleventh Five-Year Development Plan, which prioritize private-sector expansion, diversification and job creation.
The launch follows Fitch Ratings’ decision earlier this month to upgrade Oman to investment-grade status, raising the country’s long-term foreign-currency rating to BBB- from BB+. Fitch cited stronger public finances, a sharper reduction in government debt and an improved external position.
“The implementation plan is based on several key strategic pillars, most notably: market access and value chains, financing and investment, enhancing local content, and developing a culture of entrepreneurship, skills, and innovation,” the ONA report stated.
It added: “These pillars were developed through a participatory approach with contributions from several government and private entities supporting the SME sector, and are based on studies, benchmarking, and international best practices.”
The plan also includes a package of specialized programs and initiatives targeting different stages of SME growth. These include measures to improve readiness for expansion and exports, integrated financing programs, initiatives supporting handicrafts and the creative economy, and the development of a network of entrepreneurship centers across Oman’s governorates.
Riyada said implementation of the plan would help strengthen the sustainability of SMEs, create quality job opportunities and empower entrepreneurs to build viable and scalable businesses, enhancing the competitiveness of the national economy.
Oman has made significant progress in strengthening fiscal discipline, reducing government debt to around 36 percent of GDP in 2025, down from about 68 percent in 2020.
With the outlook remaining stable, Fitch expects the budget deficit to remain at a manageable level of around 1 percent of GDP in 2026 and 2027, assuming an average Brent crude price of $63 per barrel. The fiscal breakeven oil price is estimated at around $67 per barrel over the same period.
