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Syria Economy

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NEWS
January 30, 1987 | DAN FISHER, Times Staff Writer
Quoting what is believed to be an official Israeli government assessment, the Jerusalem Post on Thursday reported that Syria is so racked by economic, social and political problems that the probability of an Israeli-Syrian war in 1987 is "very low."
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WORLD
January 26, 2012 | By Alexandra Zavis and Alexandra Sandels, Los Angeles Times
In the maze of alleyways that makes up the Old City of Damascus, traders finger worry beads and stare dejectedly from deserted shops that sell handicrafts, clothing and spices. "This market is based on tourists," said Abu Adnan, who works in one of the many fabric emporiums. But the tourists stopped coming when antigovernment protests erupted across Syria in March, prompting a violent crackdown. Now, even local homemakers no longer stop by to purchase bolts of imported cotton and silk.
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BUSINESS
June 23, 1991 | JAMES FLANIGAN
This country, the Syria of President Hafez Assad, is the one that other Middle Easterners point to as the next threat in the region, now that Iraq's military menace has been reduced. Syria has armed forces 400,000 strong, with another 400,000 in reserve. But with the cost of maintaining that army starving the rest of its economy for investment, Syria threatens itself more than anybody else.
WORLD
August 17, 2011 | By Borzou Daragahi, Los Angeles Times
A sharp discrepancy between Syria's nose-diving economy and its relatively stable currency is fueling speculation among observers that either another country, presumably strategic oil-rich ally Iran, has injected huge amounts of cash into its economy, or Damascus is quickly draining its foreign currency reserves. Syria's overall economy, stock market, vital tourism industry and foreign investment have collapsed, according to economists and analysts. It appears to have hemorrhaged cash, with the bulk flowing to Lebanon, which has long served as a conduit for Syrian finances.
BUSINESS
February 18, 1988 | CHARLES P. WALLACE, Times Staff Writer
A high-level Syrian official was proudly telling an American visitor the other day that he had completed work on a major new book. Then, clearly embarrassed, he added that the manuscript had been stuck at the printers for several months because there was no paper to print it on. Another official was asked about his government's policy toward the Palestinian uprising in the Israeli-occupied West Bank and Gaza Strip.
NEWS
March 6, 1990 | NICK B. WILLIAMS Jr., TIMES STAFF WRITER
Through periods of drought and permanent inefficiency, the Syrian economy has hobbled along on the proceeds of oil exports and the crutch of soft credit and barter trade with the Soviet Bloc. The crutch has begun to wobble. The Damascus government has no hard cash. Its oil earnings are spent on imported wheat.
NEWS
September 8, 1995 | DAVID LAMB, TIMES STAFF WRITER
It is midnight, and the Sheraton Hotel's brick and wood-paneled cellar pub is full of young couples sipping 12-year-old Johnny Walker Black Label and Paulaner draft beer from Munich. "Cheers!" exclaims the bartender, setting up a round. Waiters in red vests work their way through the smoky room, serving the menu favorite--surf and turf--followed by "All-American apple pie."
NEWS
June 21, 2000 | JOHN DANISZEWSKI, TIMES STAFF WRITER
Syria's ruling Baath Party ended a four-day conference by naming a revamped executive team Tuesday, including 12 new members chosen to help the nation's new leader modernize the country and clean up government. However, the party announced that policy toward Israel will not change under the leadership of Bashar Assad and that Syria will not make peace unless it gets back all of the occupied Golan Heights.
NEWS
April 6, 2000 | JOHN DANISZEWSKI, TIMES STAFF WRITER
In the modern office of an economic consultant, in the dim cubicles of the Hafez Assad Library, at the Syrian Computer Society--all across this ancient, hidebound city--something new and vaguely daring is afoot. Revolution would be far too strong a word. But change is in the air, a sense that Syria is standing at a threshold and the old certainties are starting to crumble. People are acting more freely, speaking more openly and critically, planning for a different kind of future.
NEWS
October 28, 1994 | KIM MURPHY, TIMES STAFF WRITER
Tareq Shallah listens to the tedious drumbeat of peace negotiations in the Middle East and hears the sweet clinking of coins--for him and his Syrian friends, for sure. And profits for the unknown Israelis who have always been the enemy, well, why not? As head of the Syrian Assn. of Travel Agents, Shallah has already seen the beginnings of the peace dividend. Two years ago, with peace talks new and flailing, his company lured nary an American tourist to Syria.
NEWS
June 21, 2000 | JOHN DANISZEWSKI, TIMES STAFF WRITER
Syria's ruling Baath Party ended a four-day conference by naming a revamped executive team Tuesday, including 12 new members chosen to help the nation's new leader modernize the country and clean up government. However, the party announced that policy toward Israel will not change under the leadership of Bashar Assad and that Syria will not make peace unless it gets back all of the occupied Golan Heights.
NEWS
April 6, 2000 | JOHN DANISZEWSKI, TIMES STAFF WRITER
In the modern office of an economic consultant, in the dim cubicles of the Hafez Assad Library, at the Syrian Computer Society--all across this ancient, hidebound city--something new and vaguely daring is afoot. Revolution would be far too strong a word. But change is in the air, a sense that Syria is standing at a threshold and the old certainties are starting to crumble. People are acting more freely, speaking more openly and critically, planning for a different kind of future.
NEWS
September 8, 1995 | DAVID LAMB, TIMES STAFF WRITER
It is midnight, and the Sheraton Hotel's brick and wood-paneled cellar pub is full of young couples sipping 12-year-old Johnny Walker Black Label and Paulaner draft beer from Munich. "Cheers!" exclaims the bartender, setting up a round. Waiters in red vests work their way through the smoky room, serving the menu favorite--surf and turf--followed by "All-American apple pie."
NEWS
October 28, 1994 | KIM MURPHY, TIMES STAFF WRITER
Tareq Shallah listens to the tedious drumbeat of peace negotiations in the Middle East and hears the sweet clinking of coins--for him and his Syrian friends, for sure. And profits for the unknown Israelis who have always been the enemy, well, why not? As head of the Syrian Assn. of Travel Agents, Shallah has already seen the beginnings of the peace dividend. Two years ago, with peace talks new and flailing, his company lured nary an American tourist to Syria.
BUSINESS
June 23, 1991 | JAMES FLANIGAN
This country, the Syria of President Hafez Assad, is the one that other Middle Easterners point to as the next threat in the region, now that Iraq's military menace has been reduced. Syria has armed forces 400,000 strong, with another 400,000 in reserve. But with the cost of maintaining that army starving the rest of its economy for investment, Syria threatens itself more than anybody else.
NEWS
March 6, 1990 | NICK B. WILLIAMS Jr., TIMES STAFF WRITER
Through periods of drought and permanent inefficiency, the Syrian economy has hobbled along on the proceeds of oil exports and the crutch of soft credit and barter trade with the Soviet Bloc. The crutch has begun to wobble. The Damascus government has no hard cash. Its oil earnings are spent on imported wheat.
WORLD
January 26, 2012 | By Alexandra Zavis and Alexandra Sandels, Los Angeles Times
In the maze of alleyways that makes up the Old City of Damascus, traders finger worry beads and stare dejectedly from deserted shops that sell handicrafts, clothing and spices. "This market is based on tourists," said Abu Adnan, who works in one of the many fabric emporiums. But the tourists stopped coming when antigovernment protests erupted across Syria in March, prompting a violent crackdown. Now, even local homemakers no longer stop by to purchase bolts of imported cotton and silk.
WORLD
August 17, 2011 | By Borzou Daragahi, Los Angeles Times
A sharp discrepancy between Syria's nose-diving economy and its relatively stable currency is fueling speculation among observers that either another country, presumably strategic oil-rich ally Iran, has injected huge amounts of cash into its economy, or Damascus is quickly draining its foreign currency reserves. Syria's overall economy, stock market, vital tourism industry and foreign investment have collapsed, according to economists and analysts. It appears to have hemorrhaged cash, with the bulk flowing to Lebanon, which has long served as a conduit for Syrian finances.
BUSINESS
February 18, 1988 | CHARLES P. WALLACE, Times Staff Writer
A high-level Syrian official was proudly telling an American visitor the other day that he had completed work on a major new book. Then, clearly embarrassed, he added that the manuscript had been stuck at the printers for several months because there was no paper to print it on. Another official was asked about his government's policy toward the Palestinian uprising in the Israeli-occupied West Bank and Gaza Strip.
NEWS
January 30, 1987 | DAN FISHER, Times Staff Writer
Quoting what is believed to be an official Israeli government assessment, the Jerusalem Post on Thursday reported that Syria is so racked by economic, social and political problems that the probability of an Israeli-Syrian war in 1987 is "very low."
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