US economist expects imminent collapse of the US dollar

Washington (ST): The American economist Steven Rotech expects an imminent collapse for the US dollar that will result in adverse repercussions. Rotech, a former expert in Morgan Stanley Foundation, one of the biggest financial establishments in the US, said in an interview with the US CNBC network that there is a possibility of the collapse of the US dollar by the end of this year or the beginning of the new year as its value is expected to reduce at a rate of 35% against other currencies. 

He added that the current economic crisis will have adverse consequences, especially on the position of the US dollar which has been dominating world currencies for more than 60 years.

Rotech concluded that the current political situation, divisions in the US society and the failure in confronting the Corona virus pandemic lessens confidence in the socio-economic stability in the US and its currency.


20 new investors in Hasyaa industrial city in Syria's Homs

HOMS, (ST)_Despite the blockade and western coercive measures against Syria, the work and production continue in the industrial   city of Hasyaa in Homs province with the aim of supporting the national economy and meeting the needs of local market with unlimited support from the government.
According to the Syrian News Agency (SANA), the number of investors reached up to 936 this year, compared to 916 ones in 2019.

CBS rises purchase price of US dollar for incoming personal money transfers, from SYP 700 to SYP 1,250

DAMASCUS, (ST)- The Central Bank of Syria (CBS) on Wednesday announced that it has amended the purchase price of the US dollar for incoming personal money transfers, raising it from SYP 700 to SYP 1,250.

According to the bank and exchange bulletin issued by the CBS today, the average exchange rate for the US dollar has become 1256 pounds, after its price in yesterday's bulletin was 704 pounds.

The exchange rate of the euro against the Syrian pound, according to the bulletin, amounted to 1413,38 pounds as an average price for exchange institutions and for the delivery of personal transfers.

The Prime Minister to Governors: The necessity of being with citizens, following up their living issues and meeting their needs

On June 14, Prime Minister Eng. Hussein Arnous held a meeting with the Governors and stressed the importance of the governor’s presence among citizens, following up on their living issues, working to meet their daily needs, providing their daily requirements, submitting the necessary proposals to improve the economic situation of each governorate, and optimal investment of its agricultural, industrial, and tourism capabilities.

During the meeting held in the building of the Ministry of Local Administration and Environment, in the presence of Eng. Hussein Makhlouf, Minister of Local Administration, Arnous referred to the role of governors in implementing the government’s plan ‘ From the producer to the consumer’ by marketing vegetables and fruits produced to the co-op  and sales outlets of the public authorities in each governorate.

Corona reduced fishing and raised fish prices

Director General of the General Authority for Fish Wealth Abdel-Latif Ali has said  to the Syrian Al-Watan daily  that the amount of fishing  during the first three months ( January, February and March)  of this year reached  130,447 kilograms.

Ali said that the work of fishermen was clearly affected during the ban period due to the Corona crisis, noting that  sea-fishing decreased and thus the amount of fish was affected.

Ali said that although the authority continues to produce and sell fingerlings, the ban also affected the technical supervision process on fish farms permanently noting that Corona affected the work in general.