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Syria to introduce new currency in Jan. 2026, aiming to stabilize economy

Syria to introduce new currency in Jan. 2026, aiming to stabilize economy

Syria's Central Bank Governor Abdulkader Husrieh announced Thursday that the country will begin exchanging its newly issued national currency on Jan. 1, 2026, in a move aimed at stabilizing the economy and restoring confidence after years of conflict and currency depreciation, reported Xinhua. The process is authorized by a decree from the country's interim leader and will be implemented in an organized and transparent manner, Husrieh said in a social media statement, calling the new currency "a symbol of our financial sovereignty and the beginning of a new economic and monetary stage." Executive instructions and details on exchange centers will be released in the coming days, he added, noting that the central bank will hold a press conference on Dec. 28 to explain the timeline and procedures. The currency reform is part of broader efforts to address economic instability in Syria caused by prolonged conflict and international sanctions. Syria entered a political transition in December 2024 following the collapse of the former government after years of conflict. Over the past year, the country has witnessed a gradual reopening of public institutions, a partial restoration of services in major cities, and diplomatic outreach with regional and international actors. However, large parts of the country continue to face reconstruction challenges, particularly in areas heavily damaged during the conflict, while security incidents persist in border regions. A World Bank report released in July projected Syria's economy to grow by just 1 percent in 2025, following a 1.5-percent contraction last year. Fourteen years of conflict have shrunk Syria's GDP by more than half since 2010, with per capita income dropping to 830 U.S. dollars in 2024, and one in four Syrians living in extreme poverty.

Syria to introduce new currency in Jan. 2026, aiming to stabilize economy

Syria to introduce new currency in Jan. 2026, aiming to stabilize economy

Syria's Central Bank Governor Abdulkader Husrieh announced Thursday that the country will begin exchanging its newly issued national currency on Jan. 1, 2026, in a move aimed at stabilizing the economy and restoring confidence after years of conflict and currency depreciation, reported Xinhua. The process is authorized by a decree from the country's interim leader and will be implemented in an organized and transparent manner, Husrieh said in a social media statement, calling the new currency "a symbol of our financial sovereignty and the beginning of a new economic and monetary stage." Executive instructions and details on exchange centers will be released in the coming days, he added, noting that the central bank will hold a press conference on Dec. 28 to explain the timeline and procedures. The currency reform is part of broader efforts to address economic instability in Syria caused by prolonged conflict and international sanctions. Syria entered a political transition in December 2024 following the collapse of the former government after years of conflict. Over the past year, the country has witnessed a gradual reopening of public institutions, a partial restoration of services in major cities, and diplomatic outreach with regional and international actors. However, large parts of the country continue to face reconstruction challenges, particularly in areas heavily damaged during the conflict, while security incidents persist in border regions. A World Bank report released in July projected Syria's economy to grow by just 1 percent in 2025, following a 1.5-percent contraction last year. Fourteen years of conflict have shrunk Syria's GDP by more than half since 2010, with per capita income dropping to 830 U.S. dollars in 2024, and one in four Syrians living in extreme poverty.

8 killed in building collapse in Egypt

8 killed in building collapse in Egypt

The death toll from the collapse of a five-story residential building in Egypt's Giza Province, south of Cairo, has risen to eight, reported Xinhua, quoting Egypt's state-run Ahram Online news website on Thursday. Rescue teams recovered the body of the last missing person after two days of continuous search and rubble removal operations, according to the report. The building collapsed late Tuesday in Imbaba, a densely populated neighborhood in Giza, causing damage to several adjacent buildings, which were evacuated as a precautionary measure pending safety assessments. In a statement on the official Facebook page of Giza Province, authorities said debris removal was carried out manually because the narrow street where the building was located prevented the use of heavy machinery. A specialized engineering committee has been assigned to investigate the cause of the collapse, including whether the building had undergone unlicensed modifications or violated construction regulations.

8 killed in building collapse in Egypt

8 killed in building collapse in Egypt

The death toll from the collapse of a five-story residential building in Egypt's Giza Province, south of Cairo, has risen to eight, reported Xinhua, quoting Egypt's state-run Ahram Online news website on Thursday. Rescue teams recovered the body of the last missing person after two days of continuous search and rubble removal operations, according to the report. The building collapsed late Tuesday in Imbaba, a densely populated neighborhood in Giza, causing damage to several adjacent buildings, which were evacuated as a precautionary measure pending safety assessments. In a statement on the official Facebook page of Giza Province, authorities said debris removal was carried out manually because the narrow street where the building was located prevented the use of heavy machinery. A specialized engineering committee has been assigned to investigate the cause of the collapse, including whether the building had undergone unlicensed modifications or violated construction regulations.

2 including suspect killed, 2 injured in attack in Sweden

2 including suspect killed, 2 injured in attack in Sweden

One was killed and two others were injured in an attack in Boden, a municipality in northern Sweden, on Christmas Day, Swedish police said on Thursday, adding that officers shot dead a suspect at the scene, reported Xinhua. Police said they received an emergency call at around 12:00 p.m. local time reporting an assault at a residential property in Boden. When officers arrived and attempted to detain the suspect, "unexpected circumstances" arose and police opened fire, killing the suspect on the spot, according to a statement from the police. The victim was identified as a 55-year-old woman, police said. Two other people were taken to hospital, though the extent of their injuries was not immediately clear. The suspect was a man in his 20s with a prior criminal record. Police said an investigation has been launched on suspicion of murder and attempted murder. The relationship between the suspect and the victims remains unclear. Police did not disclose what weapon was used in the attack. Swedish newspaper Aftonbladet reported that the weapon was a knife and that the incident took place at a residence in the central area of Boden. Swedish Television reported that police launched a large-scale operation and cordoned off a wide area around the scene in the afternoon. Police said there were no other suspects and no information indicating any further danger to the public.

2 including suspect killed, 2 injured in attack in Sweden

2 including suspect killed, 2 injured in attack in Sweden

One was killed and two others were injured in an attack in Boden, a municipality in northern Sweden, on Christmas Day, Swedish police said on Thursday, adding that officers shot dead a suspect at the scene, reported Xinhua. Police said they received an emergency call at around 12:00 p.m. local time reporting an assault at a residential property in Boden. When officers arrived and attempted to detain the suspect, "unexpected circumstances" arose and police opened fire, killing the suspect on the spot, according to a statement from the police. The victim was identified as a 55-year-old woman, police said. Two other people were taken to hospital, though the extent of their injuries was not immediately clear. The suspect was a man in his 20s with a prior criminal record. Police said an investigation has been launched on suspicion of murder and attempted murder. The relationship between the suspect and the victims remains unclear. Police did not disclose what weapon was used in the attack. Swedish newspaper Aftonbladet reported that the weapon was a knife and that the incident took place at a residence in the central area of Boden. Swedish Television reported that police launched a large-scale operation and cordoned off a wide area around the scene in the afternoon. Police said there were no other suspects and no information indicating any further danger to the public.