Syria’s stock market index fell on Thursday below the 1,200 mark for the first time since September 2013.
Solidarity Alliance Insurance Company has announced the appointment of a new general manager, a year after the resignation of the previous one.
Al-Baraka Bank Syria, an Islamic lender, opened on May 28 a branch in Tartous, the bank’s second in less than six months in the coastal area.
There was little to highlight in the Syrian stock exchange last week as trading volumes remained miniscule.
Last week was another uneventful one in the Syrian bourse with the market’s main index sliding again and the volume of transactions remaining very low.
For the second week in a row, the US dollar has climbed in the Syrian foreign currency market.
Trading in the Syrian stock exchange reached last week one of its lowest levels on record.
After a respite of ten days, the Syrian Pound lost some ground against the dollar to be traded at around 280 in Damascus.
The main index of the Damascus Securities Exchange gained 0.29 percent last week to close at 1,211.44.
The sale of large amounts of dollars by the Central Bank of Syria in the last week helped the Syrian Pound recover to around 250 per dollar from over 300 only ten days ago.
Only a quarter of the listed stocks in the Damascus Exchange were traded last week.
After spending large amounts of dollars in the market, the Central Bank of Syria has managed in the last two days to strengthen spectacularly its currency.
Syria’s stock market index, the DWX, finished last week with a fifteenth consecutive loss.
The dollar accelerated last week its gains against the Syrian pound, crossed the 300 pounds level, and is now traded at its highest level on record.
After four consecutive days of decline, Syria’s stock market index fell last w eek to its lowest level in more than eighteen months.
Dama Rose Hotel
Damascus International Fairground