US President Donald Trump met Syrian President Ahmad Al Shara in Riyadh, during a visit to the Gulf in May. AFP
US President Donald Trump met Syrian President Ahmad Al Shara in Riyadh, during a visit to the Gulf in May. AFP
US President Donald Trump met Syrian President Ahmad Al Shara in Riyadh, during a visit to the Gulf in May. AFP
US President Donald Trump met Syrian President Ahmad Al Shara in Riyadh, during a visit to the Gulf in May. AFP

Syrian Foreign Ministry denies there are plans for US military presence in Damascus


Fatima Al Mahmoud
  • English
  • Arabic

Syria's Foreign Ministry has denied a report detailing US plans to establish a military presence at a base in Damascus.

Reuters reported this week that Washington was preparing for the move to help enable a security pact it is brokering between Syria and Israel. Six sources were quoted in the report.

The airbase in the capital would sit at the gateway to southern parts of the country expected to make up a demilitarised zone as part of a US-mediated non-aggression pact between Israel and Syria, Reuters said. It said it spoke to sources including two western officials and a Syrian defence official, who confirmed the US was planning to use the base to help monitor a potential Israel-Syria agreement.

On Thursday, an official source at the ministry described the news as "false", in a report by state news agency Sana. "The current stage is witnessing a shift in the US position towards direct engagement with the central Syrian government, supporting efforts to unify the country, and rejecting any calls for partition," the source said.

“In its new phase, Syria is steadily moving towards consolidating stability and strengthening co-operation based on national sovereignty and mutual respect."

US President Donald Trump is expected to host Syrian President Ahmad Al Shara for talks in Washington on November 10, marking the first visit by a Syrian leader to the White House. Press secretary Karoline Leavitt said the meeting was part of Mr Trump's effort to pursue peace in the Middle East.

Syrian Foreign Minister Asaad Al Shibani said the talks would focus on postwar reconstruction and the easing of sanctions on Damascus. “This visit is certainly historic,” Mr Shibani told a panel at the Manama Dialogue in Bahrain. "Many topics will be discussed, starting with the lifting of sanctions.”

The UN Security Council lifted its sanctions on Mr Al Shara on Thursday, before his meeting with Mr Trump. The US-drafted resolution also lifted sanctions on Syrian Interior Minister Anas Khattab.

Washington had for months urged the 15-member council to ease its Syria sanctions after Mr Trump first announced a major US policy shift on the country in May, during his visit to the Gulf.

Mr Trump met Mr Al Shara for the first time during a visit to Saudi Arabia. It was the first encounter between the leaders of the two nations in 25 years.

"I think he's doing a very good job," Mr Trump said of Mr Al Shara on Thursday. "It's a tough neighbourhood and he's a tough guy, but I got along with him very well. And a lot of progress has been made with Syria. We did take the sanctions off Syria in order to give them a fighting shot."

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

2025 Fifa Club World Cup groups

Group A: Palmeiras, Porto, Al Ahly, Inter Miami.

Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.

Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.

Group D: Flamengo, ES Tunis, Chelsea, Leon.

Group E: River Plate, Urawa, Monterrey, Inter Milan.

Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.

Group G: Manchester City, Wydad, Al Ain, Juventus.

Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.

 

 

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If you go...

Fly from Dubai or Abu Dhabi to Chiang Mai in Thailand, via Bangkok, before taking a five-hour bus ride across the Laos border to Huay Xai. The land border crossing at Huay Xai is a well-trodden route, meaning entry is swift, though travellers should be aware of visa requirements for both countries.

Flights from Dubai start at Dh4,000 return with Emirates, while Etihad flights from Abu Dhabi start at Dh2,000. Local buses can be booked in Chiang Mai from around Dh50

Updated: November 07, 2025, 8:44 AM