Syrians celebrate in Damascus following President Ahmad Al Shara's speech after the lifting of US sanctions. EPA
Syrians celebrate in Damascus following President Ahmad Al Shara's speech after the lifting of US sanctions. EPA
Syrians celebrate in Damascus following President Ahmad Al Shara's speech after the lifting of US sanctions. EPA
Syrians celebrate in Damascus following President Ahmad Al Shara's speech after the lifting of US sanctions. EPA

IMF ready to provide Syria with support after sanctions lifted


Kyle Fitzgerald
  • English
  • Arabic

The International Monetary Fund on Thursday said it is ready to provide Syria with technical assistance after the US and European Union lifted sanctions on the country.

IMF staff were said to be preparing to support international efforts to help Syria recover economically.

"We stand ready to provide advice, and targeted and well-prioritised technical assistance in our areas of expertise," IMF communications director Julie Kozack said.

The IMF has had "useful discussions" with Syrian officials and has started working to rebuild its understanding of the Syrian economy, she added. "Syria will need significant assistance to rebuild its economic institutions," Ms Kozack said.

US President Donald Trump last week announced he would lift sanctions on Syria, a major step for the country as it looks to secure economic assistance after a brutal 14-year civil war. Mr Trump also met Syrian President Ahmad Al Shara as part of the US leader's trip to the Gulf.

In a separate announcement this week, the EU announced it would also lift economic sanctions on Damascus.

The World Bank last week said Qatar and Saudi Arabia had paid off Syria's outstanding $15.5 million debt to the institution, paving the way for it to receive support and assistance.

Estimates on the cost of rebuilding Syria vary greatly, but one analysis from the Carnegie Endowment for Peace has it at $250 billion to $400 billion.

Ms Kozack said sanctions relief could support Syria's efforts to address its challenges, and progress with energy construction and economic development.

US Secretary of State Marco Rubio this week said the move was vital for supporting the new government, but also warned another civil war could potentially be only weeks away. Mr Rubio's warning came after recent attacks by pro-government militias on Syria's Alawite and Druze minorities.

Syria's new government, led by Mr Al Shara, has been seeking to reset relations with western institutions following the toppling of Bashar Al Assad's regime last year.

Mohammed Yisr Barnieh, the country's new central bank governor and finance minister, attended last month's spring meetings in Washington, the first time Syria had been represented in two decades. He attended a roundtable with the World Bank, IMF and Gulf leaders on the country's reconstruction needs.

IMF managing director Kristalina Georgieva, World Bank president Ajay Banga and Saudi Finance Minister Mohammed Al Jadaan said in a joint statement at the time that priority would be given to address the Syrian people's needs, rebuilding institutions, capacity development, policy reforms and developing an economic recovery strategy.

Company%C2%A0profile
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THE CLOWN OF GAZA

Director: Abdulrahman Sabbah 

Starring: Alaa Meqdad

Rating: 4/5

COMPANY%20PROFILE
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COMPANY PROFILE

Name: Lamsa

Founder: Badr Ward

Launched: 2014

Employees: 60

Based: Abu Dhabi

Sector: EdTech

Funding to date: $15 million

ABU%20DHABI'S%20KEY%20TOURISM%20GOALS%3A%20BY%20THE%20NUMBERS
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Women%E2%80%99s%20T20%20World%20Cup%20Qualifier
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Indika
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Spare

Profile

Company name: Spare

Started: March 2018

Co-founders: Dalal Alrayes and Saurabh Shah

Based: UAE

Sector: FinTech

Investment: Own savings. Going for first round of fund-raising in March 2019

COMPANY PROFILE

Name: Xpanceo

Started: 2018

Founders: Roman Axelrod, Valentyn Volkov

Based: Dubai, UAE

Industry: Smart contact lenses, augmented/virtual reality

Funding: $40 million

Investor: Opportunity Venture (Asia)

The specs

Engine: Four electric motors, one at each wheel

Power: 579hp

Torque: 859Nm

Transmission: Single-speed automatic

Price: From Dh825,900

On sale: Now

How the bonus system works

The two riders are among several riders in the UAE to receive the top payment of £10,000 under the Thank You Fund of £16 million (Dh80m), which was announced in conjunction with Deliveroo's £8 billion (Dh40bn) stock market listing earlier this year.

The £10,000 (Dh50,000) payment is made to those riders who have completed the highest number of orders in each market.

There are also riders who will receive payments of £1,000 (Dh5,000) and £500 (Dh2,500).

All riders who have worked with Deliveroo for at least one year and completed 2,000 orders will receive £200 (Dh1,000), the company said when it announced the scheme.

UAE currency: the story behind the money in your pockets
The candidates

Dr Ayham Ammora, scientist and business executive

Ali Azeem, business leader

Tony Booth, professor of education

Lord Browne, former BP chief executive

Dr Mohamed El-Erian, economist

Professor Wyn Evans, astrophysicist

Dr Mark Mann, scientist

Gina MIller, anti-Brexit campaigner

Lord Smith, former Cabinet minister

Sandi Toksvig, broadcaster

 

Dust and sand storms compared

Sand storm

  • Particle size: Larger, heavier sand grains
  • Visibility: Often dramatic with thick "walls" of sand
  • Duration: Short-lived, typically localised
  • Travel distance: Limited 
  • Source: Open desert areas with strong winds

Dust storm

  • Particle size: Much finer, lightweight particles
  • Visibility: Hazy skies but less intense
  • Duration: Can linger for days
  • Travel distance: Long-range, up to thousands of kilometres
  • Source: Can be carried from distant regions
Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
How it works

1) The liquid nanoclay is a mixture of water and clay that aims to convert desert land to fertile ground

2) Instead of water draining straight through the sand, it apparently helps the soil retain water

3) One application is said to last five years

4) The cost of treatment per hectare (2.4 acres) of desert varies from $7,000 to $10,000 per hectare 

How much of your income do you need to save?

The more you save, the sooner you can retire. Tuan Phan, a board member of SimplyFI.com, says if you save just 5 per cent of your salary, you can expect to work for another 66 years before you are able to retire without too large a drop in income.

In other words, you will not save enough to retire comfortably. If you save 15 per cent, you can forward to another 43 working years. Up that to 40 per cent of your income, and your remaining working life drops to just 22 years. (see table)

Obviously, this is only a rough guide. How much you save will depend on variables, not least your salary and how much you already have in your pension pot. But it shows what you need to do to achieve financial independence.

 

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What are the GCSE grade equivalents?
 
  • Grade 9 = above an A*
  • Grade 8 = between grades A* and A
  • Grade 7 = grade A
  • Grade 6 = just above a grade B
  • Grade 5 = between grades B and C
  • Grade 4 = grade C
  • Grade 3 = between grades D and E
  • Grade 2 = between grades E and F
  • Grade 1 = between grades F and G
Squid Game season two

Director: Hwang Dong-hyuk 

Stars:  Lee Jung-jae, Wi Ha-joon and Lee Byung-hun

Rating: 4.5/5

COMPANY%20PROFILE
%3Cp%3ECompany%20name%3A%20Znap%3C%2Fp%3E%0A%3Cp%3EStarted%3A%202017%3C%2Fp%3E%0A%3Cp%3EFounder%3A%20Uday%20Rathod%3C%2Fp%3E%0A%3Cp%3EBased%3A%20Dubai%2C%20UAE%3C%2Fp%3E%0A%3Cp%3EIndustry%3A%20FinTech%3C%2Fp%3E%0A%3Cp%3EFunding%20size%3A%20%241m%2B%3C%2Fp%3E%0A%3Cp%3EInvestors%3A%20Family%2C%20friends%3C%2Fp%3E%0A
MEFCC information

Tickets range from Dh110 for an advance single-day pass to Dh300 for a weekend pass at the door. VIP tickets have sold out. Visit www.mefcc.com to purchase tickets in advance.

Conflict, drought, famine

Estimates of the number of deaths caused by the famine range from 400,000 to 1 million, according to a document prepared for the UK House of Lords in 2024.
It has been claimed that the policies of the Ethiopian government, which took control after deposing Emperor Haile Selassie in a military-led revolution in 1974, contributed to the scale of the famine.
Dr Miriam Bradley, senior lecturer in humanitarian studies at the University of Manchester, has argued that, by the early 1980s, “several government policies combined to cause, rather than prevent, a famine which lasted from 1983 to 1985. Mengistu’s government imposed Stalinist-model agricultural policies involving forced collectivisation and villagisation [relocation of communities into planned villages].
The West became aware of the catastrophe through a series of BBC News reports by journalist Michael Buerk in October 1984 describing a “biblical famine” and containing graphic images of thousands of people, including children, facing starvation.

Band Aid

Bob Geldof, singer with the Irish rock group The Boomtown Rats, formed Band Aid in response to the horrific images shown in the news broadcasts.
With Midge Ure of the band Ultravox, he wrote the hit charity single Do They Know it’s Christmas in December 1984, featuring a string of high-profile musicians.
Following the single’s success, the idea to stage a rock concert evolved.
Live Aid was a series of simultaneous concerts that took place at Wembley Stadium in London, John F Kennedy Stadium in Philadelphia, the US, and at various other venues across the world.
The combined event was broadcast to an estimated worldwide audience of 1.5 billion.

Things Heard & Seen

Directed by: Shari Springer Berman, Robert Pulcini

Starring: Amanda Seyfried, James Norton

2/5

Updated: May 22, 2025, 5:04 PM`