Indycar Racing 2 was a good game, back in 1995; in some ways, it was the Crysis of the Clinton years, in that most mortals could not run it to its full potential when it was new. Still, that potential was surely fairly limited, as…
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MENA’s innovation map expands as Syria debuts, Palestine rises at GITEX 2025
At this year’s GITEX Global, the region’s largest technology exhibition, the spotlight quietly shifted to two pavilions that told a different kind of story. At Expand North Star, the startup-focused arm of GITEX held at Dubai Harbour, Syria made its first-ever appearance, and Palestinian founders drew a surge of investor interest.
The event, which ran for four days and brought together thousands of startups and more than a thousand investors, has become the region’s ultimate deal-making arena, a space where “let’s meet” often turns into “let’s sign.” Amid the bustle of global pitches and product launches, Syria’s debut and Palestine’s growing presence stood out as signals of resilience, recovery, and quiet ambition.
Syria is back on centre stage
Conversations were lively inside the Syrian pavilion. Entrepreneurs who had spent years abroad were meeting international investors face to face, many for the first time. The pavilion was hosted by SYNC, a California-based, volunteer-led non-profit founded by members of the Syrian tech diaspora to help rebuild the country’s innovation ecosystem.
“Our goal is to mobilise Syrian tech talent in the diaspora and connect them with opportunities back home,” said Firas Khalifeh, SYNC’s co-founder, speaking to Wamda. “We want to create 25,000 tech jobs in Syria within five years and start reversing the brain drain that has hollowed out our workforce.”
Two Syrian founders—Rahaf Aldruby and Seem Alkabbani—offered a glimpse of that ambition when their edtech startup TarKeys won an $8,000 grant from TiE Dubai after pitching at Expand North Star. Their success symbolised a new chapter for Syrian entrepreneurship: talent that had survived years of turmoil now competing on the global stage.
A country rebuilding from zero
Following the fall of Bashar al-Assad’s regime in December 2024, Syria has entered an uncertain but potentially transformative phase. Almost every sector—infrastructure, finance, education, and healthcare— requires rebuilding. With roughly 40 percent of sanctions lifted and the rest expected to ease by year’s end, the government and private sector see a window to re-enter global markets.
“It’s a big risk, I know, for investors to deploy their funds in Syria,” Khalifeh said. “But first movers will benefit from the potential of a hungry market like ours. The time is now to use this opportunity.”
At GITEX, Syria’s Minister of Communications and Information Technology, Abdulsalam Haykal, met with entrepreneurs and outlined a plan to restore digital infrastructure. “Connectivity and electricity come first,” he said, emphasising that his ministry is working with the Ministry of Finance on new legislation to govern venture capital activity and launch incubators and accelerators for early-stage startups. His presence was more than symbolic; it underscored that Syria’s tech revival now has political backing.
Why Syria’s comeback matters to MENA
When Syria was cut off from the region’s tech revolution a decade ago, the MENA ecosystem lost scale, talent, and balance.
Before the war, Syrian universities produced a steady stream of engineers, developers, and designers. Many ended up in GCC economies or Europe, and when the conflict began, the flow became one-way. The region lost a mid-cost, high-skilled labour corridor that could have bridged the gap between North Africa’s affordability and the Gulf’s capital intensity.
Syria’s exit also fractured digital supply chains across the Levant. Companies were forced to reroute their logistics and connectivity around the missing link between Iraq, Jordan, Lebanon, and Turkey. A domestic market of 22 million consumers, once a potential testing ground for fintech and e-commerce, effectively vanished. And while Syrian professionals thrived abroad, their experience rarely flowed back into the regional pipeline.
Now, with sanctions easing and the economy reopening, MENA stands to regain that lost piece. Syria’s reintegration could create a new reservoir of affordable, skilled talent, particularly in software, AI, and remote engineering, fields that Gulf and Levant firms struggle to fill.
Its electronics base and low operating costs could make it a new node for light manufacturing and deep-tech assembly—what Khalifeh calls “China of the Levant”. Projects like SilkLink, a proposed high-speed internet corridor linking Asia to Europe through Syria, could strengthen regional connectivity and reduce data costs.
For investors, Syria’s re-entry expands the region’s consumer and entrepreneurial map, adding a digitally literate market with strong remittance inflows and diaspora purchasing power. Jordanian, Lebanese, and Saudi VCs are already eyeing early-stage opportunities, betting on high risk but potentially high reward.
Palestine: building through adversity
Across the exhibition hall, the Palestinian delegation delivered one of the event’s most emotional and determined performances. It was the third consecutive year for Palestinian entrepreneurs at GITEX, this time supported by European partners, Bank of Palestine, and private firms such as Profarco.
Rateb Rabie, CEO of Intersect, has attended several editions of the event. “I don’t know how to tell you what the benefit of joining GITEX this year is,” he said with a laugh. “Many investors passed today — Lebanese, international, and several UAE funds. We ran an extensive outreach campaign on social media, and our startups joined panels to introduce themselves. The feedback has been positive, maybe still lip service, but it’s a start.”
By the third day, activity had surged. Seven to eight startups were continuously giving interviews, and several were featured in Expand North Star’s publicity. Foot traffic increased as visitors moved between three Palestinian pavilions. In total, 33 Palestinian startups showcased products spanning agritech, AI, SaaS, and creative industries.
“These are thirty-three stars,” Rabie said proudly. “Thirty-three Palestinians, in a circle.”
The symbolism is profound. These founders are pitching for capital and visibility while their homeland faces one of the deadliest conflicts in modern history. By early October 2025, independent monitors estimated that more than 67,000 Palestinians had been killed and nearly 169,000 injured in Gaza. Infrastructure is devastated, yet Palestinian entrepreneurs continue to show up, not out of denial, but defiance.
Dubai’s role as a regional bridge
For both delegations, Dubai offered more than visibility. The city’s regulatory clarity, investor depth, and geographic neutrality make it a natural meeting point for governments, diaspora leaders, and global corporates. Expand North Star was designed for exactly this—dense investor traffic, fast deal cycles, and a platform to integrate newcomers into the regional startup circuit.
The presence of Syria and Palestine this year added substance to what can often feel like a marketplace of trends. Syria brought the optimism of reconstruction and reintegration; Palestine brought courage under fire. Both reminded investors that innovation often comes from the margins, where necessity breeds the strongest ideas.
The bottom line
MENA’s startup story has often been told through the Gulf’s capital and North Africa’s scale. The return of Syria and the persistence of Palestine add missing dimensions: engineering depth, creative grit, and human resilience.
If investors are serious about long-term regional diversification, this is where the next wave begins, in countries rebuilding their foundations and rewriting their narratives through technology. The opportunity is clear. The challenge, as always, is who dares to move first.
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Dow Jones Top Markets Headlines at 9 PM ET: Stock Futures Rise Ahead of Major Week of Earnings | Luxury …
Stock Futures Rise Ahead of Major Week of Earnings
The economic highlight of the week will be the September consumer price index, coming out on Friday.
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Luxury Brands’ Stiffest Competition Is the Stuff They Have Already Sold
Sales of secondhand luxury goods are growing faster than in brands’ own stores.
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A New Challenge for China’s Economy: ‘Involution’
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Is Gold in the Grips of a Speculative Bubble?
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Week Ahead for FX, Bonds: U.S. Inflation, PMI Data in Focus as Shutdown Continues
Delayed U.S. inflation data are due to be released during the week and will attract attention from investors seeking evidence on the likelihood of future interest-rate cuts.
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Unemployment Claims Filed by Federal Workers Shoot Higher
Data from states show that initial unemployment claims filed by federal government workers have jumped up this month.
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Banks’ Strong Earnings Leave Investors Digging Deeper for Trouble Spots
Earnings from the country’s biggest banks show a booming Wall Street and a solid consumer. But a warning from Jamie Dimon took center stage.
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Bank of Canada Survey, CPI Data to Weigh on Next Rate Decision, Gov. Macklem Says
The central bank’s quarterly business-outlook survey and September’s consumer-price index data are slated for release next week.
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BOE Should Show More Caution in Future Rate Cuts, Says Chief Economist
The BOE’s Huw Pill called for the pace of cuts to be slowed in recognition of stubborn high inflation.
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Venezuela Mobilizes Troops and Militias as U.S. Military Looms Offshore
Nicolás Maduro says his country is ready for combat, though the strongman’s military is underfunded, ill-trained and no match for American firepower.
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Gold Stocks Are Surging. They Still Lag Behind Cold, Hard Bullion.
Since the start of August, a fresh rush into gold has fed demand for gold equities, whose gains have outpaced chip stocks riding the artificial-intelligence boom.
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China’s Communist Elites Gather to Map Strategy
A communique after the Communist Party’s Central Committee meeting, which runs Monday to Thursday, will indicate how Beijing aims to steer the economy through turbulence, though details of its 15th five-year plan won’t be released until March.
(END) Dow Jones Newswires
October 19, 2025 21:15 ET (01:15 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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Oil prices slip on concerns over US-China trade tensions
TOKYO, Oct 20 (Reuters) – Oil prices dipped on Monday, pressured by worries over a global glut as escalating U.S.-China trade tensions added to concerns about an economic slowdown and weaker energy demand.
Brent crude futures fell 24 cents, or 0.4%, at $61.05 a barrel at 0032 GMT, while U.S. West Texas Intermediate futures were down 21 cents, or 0.4%, at $57.33, erasing gains from Friday.
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Both benchmarks declined more than 2% last week, marking their third consecutive weekly decline, partly due to the International Energy Agency’s outlook for a growing supply glut in 2026.“Concerns about oversupply from increased production by oil- producing nations, coupled with fears of an economic slowdown stemming from escalating U.S.-China trade tensions, are fuelling selling pressure,” said Toshitaka Tazawa, an analyst at Fujitomi Securities.
“While the U.S. is stepping up pressure on buyers of Russian crude, the upcoming summit between U.S. President Donald Trump and Russian President Vladimir Putin adds uncertainty to the outlook, making it difficult for some investors to adjust their positions,” he said.
Last week, the head of the World Trade Organization said she had urged the U.S. and China to de-escalate trade tensions, warning that a decoupling by the world’s two largest economies could reduce global economic output by 7% over the longer term.The two top oil consumers have recently renewed their trade war, imposing additional port fees on ships carrying cargo between them – tit-for-tat moves that could disrupt global freight flows.Meanwhile, Trump and Putin agreed on Thursday to hold another summit on the war in Ukraine, even as Washington pressured India and China to stop buying Russian oil.
Following talks with Ukrainian President Volodymyr Zelenskiy at the White House on Friday, Trump implored both Ukraine and Russia to “stop the war immediately,” even if it means Ukraine conceding territory.U.S. and European pressure on Asian buyers of Russian energy could restrict India’s oil imports from December, leading to cheaper supplies for China, trade sources and analysts said.On the supply side, U.S. energy firms last week added oil and natural gas rigs for the first time in three weeks, energy services firm Baker Hughes (BKR.O)said in its closely followed report on Friday.Reporting by Yuka Obayashi; Editing by Sonali Paul
Our Standards: The Thomson Reuters Trust Principles.
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