Visa returns to Syria as Damascus seeks access to global financial system

Payments company Visa is set to restart operations in Syria after more than a decade after signing an agreement with the country’s central bank.

Visa will work with the central bank to “implement a strategic roadmap designed to help Syria rapidly integrate into the modern global digital economy,” the company said in a statement on Friday.

Following the downfall of the Bashar Al Assad regime a year ago, Syria has since begun to accelerate the reintegration of its economy under the new government led by President Ahmad Al Shara.

In June, the country completed its first electronic transfer via the Swift system, from which it had been excluded for 14 years during the civil war.

Visa’s re-entry also follows the partial lifting of US sanctions on Syria following Mr Al Shara’s meeting with US President Donald Trump in Washington DC last month.

The company, which has its headquarters in San Francisco, said its immediate priority in Syria would be to help “licensed financial institutions to develop a robust and secure payments foundation”.

This would include “issuing payment cards and enabling digital wallets using global standards like EMV chips and tokenisation”, it added.

Syrian Central Bank governor Abdulkader Husrieh called the partnership “a new chapter of hope and opportunity for the Syrian economy”.

Damascus has looked to overhaul its financial system to attract investment and also restore confidence in the severely undervalued pound.

In August, the Central Bank removed two zeroes from its currency to shore up its purchasing power after it collapsed to record lows under the previous government.

The pound lost more than 99 per cent of its value since 2011, with the exchange rate now at around 11,000 pounds to the US dollar, compared to 50 before the civil war.

However, the partial lifting of sanctions and the government’s attempts to bring investment back has proven successful.

Earlier this week Syria held its first major international oil and gas exhibition since the fall of the former regime amid growing interest from international oil companies in rehabilitating Syria.

So far, Damascus has signed a number of agreements in the energy sector, including with US companies ConocoPhillips and Novaterra, the UAE’s Dana Gas, and Qatar’s UCC Holding.

If you go

The flights
There are various ways of getting to the southern Serengeti in Tanzania from the UAE. The exact route and airstrip depends on your overall trip itinerary and which camp you’re staying at. 
Flydubai flies direct from Dubai to Kilimanjaro International Airport from Dh1,350 return, including taxes; this can be followed by a short flight from Kilimanjaro to the Serengeti with Coastal Aviation from about US$700 (Dh2,500) return, including taxes. Kenya Airways, Emirates and Etihad offer flights via Nairobi or Dar es Salaam.   

Indian origin executives leading top technology firms

Sundar Pichai

Chief executive, Google and Alphabet

Satya Nadella

Chief executive, Microsoft

Ajaypal Singh Banga

President and chief executive, Mastercard

Shantanu Narayen

Chief executive, chairman, and president, Adobe

Indra Nooyi  

Board of directors, Amazon and former chief executive, PepsiCo

 

 

Nepotism is the name of the game

Salman Khan’s father, Salim Khan, is one of Bollywood’s most legendary screenwriters. Through his partnership with co-writer Javed Akhtar, Salim is credited with having paved the path for the Indian film industry’s blockbuster format in the 1970s. Something his son now rules the roost of. More importantly, the Salim-Javed duo also created the persona of the “angry young man” for Bollywood megastar Amitabh Bachchan in the 1970s, reflecting the angst of the average Indian. In choosing to be the ordinary man’s “hero” as opposed to a thespian in new Bollywood, Salman Khan remains tightly linked to his father’s oeuvre. Thanks dad. 

EA Sports FC 26

Publisher: EA Sports

Consoles: PC, PlayStation 4/5, Xbox Series X/S

Rating: 3/5

The%20specs

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Groom and Two Brides

Director: Elie Semaan

Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla

Rating: 3/5

Afro%20salons

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11 cabbie-recommended restaurants and dishes to try in Abu Dhabi

Iqbal Restaurant behind Wendy’s on Hamdan Street for the chicken karahi (Dh14)

Pathemari in Navy Gate for prawn biryani (from Dh12 to Dh35)

Abu Al Nasar near Abu Dhabi Mall, for biryani (from Dh12 to Dh20)

Bonna Annee at Navy Gate for Ethiopian food (the Bonna Annee special costs Dh42 and comes with a mix of six house stews – key wet, minchet abesh, kekel, meser be sega, tibs fir fir and shiro).

Al Habasha in Tanker Mai for Ethiopian food (tibs, a hearty stew with meat, is a popular dish; here it costs Dh36.75 for lamb and beef versions)

Himalayan Restaurant in Mussaffa for Nepalese (the momos and chowmein noodles are best-selling items, and go for between Dh14 and Dh20)

Makalu in Mussaffa for Nepalese (get the chicken curry or chicken fry for Dh11)

Al Shaheen Cafeteria near Guardian Towers for a quick morning bite, especially the egg sandwich in paratha (Dh3.50)

Pinky Food Restaurant in Tanker Mai for tilapia

Tasty Zone for Nepalese-style noodles (Dh15)

Ibrahimi for Pakistani food (a quarter chicken tikka with roti costs Dh16)

Silent Hill f

Publisher: Konami

Platforms: PlayStation 5, Xbox Series X/S, PC

Rating: 4.5/5

The specs

Engine: Long-range single or dual motor with 200kW or 400kW battery

Transmission: Single-speed automatic

Max touring range: 620km / 590km

Price: From Dh250,000 (estimated)

Infiniti QX80 specs

Engine: twin-turbocharged 3.5-liter V6

Power: 450hp

Torque: 700Nm

Price: From Dh450,000, Autograph model from Dh510,000

Available: Now

What vitamins do we know are beneficial for living in the UAE

Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.

Wicked: For Good

Director: Jon M Chu

Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater

Rating: 4/5

The bio

Favourite book: Peter Rabbit. I used to read it to my three children and still read it myself. If I am feeling down it brings back good memories.

Best thing about your job: Getting to help people. My mum always told me never to pass up an opportunity to do a good deed.

Best part of life in the UAE: The weather. The constant sunshine is amazing and there is always something to do, you have so many options when it comes to how to spend your day.

Favourite holiday destination: Malaysia. I went there for my honeymoon and ended up volunteering to teach local children for a few hours each day. It is such a special place and I plan to retire there one day.

French business

France has organised a delegation of leading businesses to travel to Syria. The group was led by French shipping giant CMA CGM, which struck a 30-year contract in May with the Syrian government to develop and run Latakia port. Also present were water and waste management company Suez, defence multinational Thales, and Ellipse Group, which is currently looking into rehabilitating Syrian hospitals.

Match info:

Burnley 0

Manchester United 2
Lukaku (22′, 44′)

Red card: Marcus Rashford (Man United)

Man of the match: Romelu Lukaku (Manchester United)

GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

In numbers: China in Dubai

The number of Chinese people living in Dubai: An estimated 200,000

Number of Chinese people in International City: Almost 50,000

Daily visitors to Dragon Mart in 2018/19: 120,000

Daily visitors to Dragon Mart in 2010: 20,000

Percentage increase in visitors in eight years: 500 per cent