Another sign of Syria’s rebuilding: The Damascus stock exchange opens again
DAMASCUS — Trading resumed on the Damascus Securities Exchange on Monday after a six-month closure, as Syria ‘s new leaders attempt to shore up the country’s battered economy and begin rebuilding after nearly 14 years of civil war.
The stock exchange had closed during the chaotic days leading up to the ouster of former President Bashar Assad in a lightning rebel offensive.
Syrian Finance Minister Mohammed Yisr Barnieh, who attended the reopening, said it signals that the country’s economy is beginning to recover and that the stock exchange “will operate as a private company and serve as a genuine hub for Syria’s economic development, with a strong focus on digital,” state-run news agency SANA reported.
He said the country’s new leaders plan to “facilitate business operations and open doors to promising investment opportunities.”
The move to reopen comes as international restrictions on Syria’s financial systems begin to ease. The United States and Europe both last month announced the lifting of a wide raft of sanctions that had been slapped on Syria under the Assad dynasty’s rule.
Last week, Syria inked a power deal worth $7 billion with a consortium of Qatari, Turkish and U.S. companies for development of a 5,000-megawatt energy project to revitalize much of Syria’s war-battered electricity grid.
The consortium led by Qatar’s UCC Concession Investments — along with Power International USA and Turkey’s Kalyon GES Enerji Yatirimlari, Cengiz Enerji — will develop four combined-cycle gas turbines with a total generating capacity estimated at approximately 4,000 megawatts and a 1,000-megawatt solar power plant.
Q&A: How a conservative Mississippi mom became an advocate for legalizing drugs
Christina Dent talks about founding End It For Good, her journey to rethinking drugs and addiction and how Mississippi can change its approach, too
With Indus Waters Treaty in the balance, Pakistan braces for more water woes
In an unprecedented move, India held the water treaty in abeyance after blaming Pakistan for a deadly attack in April. Pakistan denies involvement in the attack and accuses India of "weaponizing water."
IRS says churches can now endorse political candidates
Since 1954, an IRS rule had barred houses of worship from explicitly endorsing political candidates.
A Planet Money guide to 5 fascinating new econ papers
The Planet Money newsletter rounds up some new economics studies.
Trump says U.S. will resume sending weapons to Ukraine after pausing last week
With Russian attacks escalating, Ukraine is dependent on air defense systems and munitions supplied by western allies to protect Ukrainian cities.
100 years after evolution went on trial, the Scopes case still reverberates
One hundred years ago, the small town of Dayton, Tenn., became the unlikely stage for one of the most sensational trials in American history, over the teaching of Darwin's theory of evolution.
