CAIRO: The Syrian government and DP World signed a memorandum of understanding worth $800 million to develop Syria’s port of Tartous, Syrian state news agency SANA said on Friday, after the lifting of USsanctions cleared the way for the deal.
The deal to develop, manage and operate a multi-purpose terminal at Tartous includes cooperation in establishing industrial and free trade zones. DP World is a subsidiary of United Arab Emirates investment company Dubai World.
Syria is seeking to attract foreign investments to boost its struggling economy, and the deal was signed in the same week that US President Donald Trump announced plans to lift of sanctions on Syria during a visit to Riyadh.
Trump said he made the decision to lift sanctions after discussions with Saudi Crown Prince Mohammed bin Salman and Turkish President Tayyip Erdogan, whose governments have both strongly urged the lifting of sanctions.
Trump had also met with Syrian President Ahmed Al-Sharaa ahead of the GCC summit in Riyadh on Wednesday.
US Secretary of State Marco Rubio said on Thursday that Trump intends to issue waivers under the “Caesar Syria Civilian Protection Act,” through which Washington imposed stiff sanctions on former President Bashar Assad’s government and secondary sanctions on outside companies or governments that worked with it.
Removing US sanctions that cut Syria off from the global financial system will also clear the way for greater engagement by humanitarian organizations working in Syria, easing foreign investment and trade as the country rebuilds.
Syria and DP World ink $800 million deal for port development
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Syria and DP World ink $800 million deal for port development
- Syria is seeking to attract foreign investments to boost its struggling economy
Gaza civil defense says 5 killed in Israeli shelling of shelter
- Bassal said the “five martyrs have been recovered as a result of the Israeli shelling of the shelter at the Gaza Martyrs School“
- “Shortly after identification, the troops fired at the suspicious individuals to eliminate the threat,” the military said
GAZA CITY, Palestinian Territories: Gaza’s civil defense agency said Israeli shelling on a school-turned-shelter killed five people on Friday, while the military said it had fired at “suspicious individuals.”
Spokesman for the agency, Mahmud Bassal, told AFP that “five martyrs have been recovered as a result of the Israeli shelling of the shelter at the Gaza Martyrs School,” in the Tuffah neighborhood east of Gaza City.
When asked by AFP about the incident, the Israeli military said that “during operational activity in the area of the Yellow line in the northern Gaza Strip, a number of suspicious individuals were identified in command structures west of the Yellow line.”
Under the US-brokered ceasefire between Israel and Hamas in Gaza, Israeli forces have withdrawn to positions east of the so-called Yellow Line.
“Shortly after identification, the troops fired at the suspicious individuals to eliminate the threat,” the military said, adding that it was “aware of the claim regarding casualties in the area, and the details are under review.”
“The (Israeli military) regrets any harm to uninvolved individuals and operates to mitigate harm to the extent possible,” it said.
The ceasefire, which came into effect in October, remains fragile with both sides alleging violations, and mediators fearing that Israel and Hamas alike are stalling.
US President Donald Trump’s special envoy, Steve Witkoff, was to meet officials from Qatar, Egypt and Turkiye in Florida on Friday, hoping to salvage efforts to reach the second stage of the deal.
“Our people expect these talks to result in an agreement to put an end to ongoing Israeli lawlessness, halt all violations and compel the occupation to abide by the Sharm El-Sheikh agreement,” Hamas political bureau member Bassem Naim told AFP.
The health ministry in Hamas-run Gaza said on Thursday that at least 395 Palestinians have been killed by Israeli fire in the territory since the ceasefire came into effect on October 10.
Israel has also repeatedly accused Hamas of violating the ceasefire, with the military reporting three soldiers killed in the territory since the truce entered into force.
