News

Intel Invests Additional $15 Billion In Israeli Chip Facility

Intel’s huge investment comes in addition to the $10 billion already committed by the well-known processor company back in 2019.

Published

3 years ago

June 19, 2023

Nour Nasir

Intel

On Sunday, Israel’s Ministry of Finance announced that the country had reached a new agreement with processor giant Intel that will see $25 billion of investment go towards an updated chip-making facility in Kiryat Gat.

The investment adds another $15 billion on top of the $10 billion earmarked for the proposed factory back in 2019, after the global COVID pandemic delayed construction. The new facility will be significantly more advanced than in the original plans, forming part of a larger production site known as Megafab.

Intel hasn’t yet commented directly on the investment details, but a press release was quick to praise Israeli expertise: “Israel is a global center of technical talent and innovation and one of Intel’s significant global manufacturing and R&D centers. Since its establishment in 1974, Intel Israel has played a crucial role in Intel’s global success. Our intention to expand manufacturing capacity in Israel is driven by our commitment to meeting future manufacturing needs and supporting Intel’s IDM 2.0 strategy, and we appreciate the continued support of the Israeli government”.

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Formal approval of the new agreement is expected to happen in a few weeks as Intel ramps up its international efforts to expand worldwide production capacity. According to a press release from the Israeli finance ministry, thousands of additional technicians will be required in Kiryat Gat, with Intel offering higher wages than the industry average. Additionally, the processor company has agreed to increase its tax obligations from 5% to 7.5%. Intel aims to close the investment deal and commence plant operations by 2027, operating the complex until at least 2035.

As manufacturers like Apple opt to develop their own processor architectures, Intel increasingly needs to adapt to a changing global market worth trillions of dollars. The company’s recent investment in Israel comes shortly after announcing a $4.6 billion deal to build a chip assembly and testing facility in Warsaw, Poland, and joins existing manufacturing facilities in Ireland and Germany.

News

Syria Just Got Its First Super App Featuring Built-In Digital Payments

Built by UAE-based Syrian founders with the Ministry of Tourism’s backing, My Syria lands as visitor numbers more than double.

Published

5 days ago

August 1, 2026

Nour Nasir

syria just got its first super app featuring built-in digital payments

For most of the past decade, paying for anything in Syria with an international card was effectively impossible. Sanctions, a collapsed banking sector, and years of isolation left the country running on cash. That is what makes the launch of My Syria — the country’s first super app — more than a routine product announcement.

Developed by 121 Living, a company founded by four UAE-based Syrian entrepreneurs — Rami Kaiem, Feras Kaiem, Waseem Qudmani, and Kinan Madi — the app launched in Damascus on July 30 under the patronage of Minister of Tourism Mazen Al-Salhani. It bundles hotels, restaurants, transport, attractions, food delivery, and other lifestyle services into a single platform, currently offering eight services with plans to expand to more than 40 verified tourism and hospitality providers across the country.

Although the app already sounds enticing, the headline feature is its built-in payments. My Syria is the first platform in Syria to support cross-border digital payments through Apple Pay, Google Pay, Visa, Mastercard, and American Express — familiar tools for international visitors, and a route into the digital economy for local businesses that have long operated outside it.

my syria super app launch event

The launch rides on a sharp rebound for the troubled country. Syria’s tourism sector recorded 3.52 million visitor arrivals in the first half of 2026, a 111 percent increase over the 1.67 million during the same period in 2025 — a mix of returning expatriates, regional visitors, and international tourists.

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The Ministry of Tourism, which supported and supervised the app’s development, frames the launch as proof of concept for a wider strategy. “Digital transformation is one of the Ministry’s strategic priorities because it enables us to build a more competitive, connected and investment-ready tourism sector,” Al-Salhani said, inviting technology companies “globally, regionally and locally” to explore opportunities across the wider economy.

For 121 Living, this is phase one, with additional services and expanded geographic coverage planned. Whether a super app can flourish in a market still rebuilding its infrastructure is an open question, but for the first time in years, a visitor to Damascus can pay for dinner with their phone.