Bank Al-Sharq has announced the second resignation in as many months of one of its directors.

The Syrian Kuwaiti Insurance Company became this week the latest listed company to announce the resignation of a board member.

The dollar crossed the 100 pound threshold in black market trading this week in Damascus.

Trading in banking stocks helped increase the total volume of trading in the Damascus Securities Exchange last week to levels not seen since March.

The US dollar crossed again the 90 pounds level this week in the Syrian informal currency market.

Stocks continued to lose ground in the Damascus Securities Exchange over the week while trading volumes reached SYP 6.1 million.

The Syrian Prime Minister has appointed the five remaining members of the board of directors of the Damascus Securities Exchange.

Al-Aqeelah Takaful Insurance has appointed a new general manager.

After rising to some 92 pounds at one point last week the dollar has since partly retreated, although the respite for the Syrian national currency is likely to be short-lived.

Provisions for bad debts at private sector Syrian banks rose sharply in the third quarter of this year as businesses faced increasing difficulties to reimburse their loans.

The Damascus Securities Exchange extended this week its losing streak to twenty sessions in a row.

Bank Al-Sharq has announced the resignation of one of its board members.

Trading in two banking stocks increased sharply the volume of transactions at the Damascus bourse last week although this did not prevent the continued decline in prices.

Updated December 03: The Syrian pound is losing further ground against the US dollar in both the black and formal markets.

Updated December 03: Bank Audi is readying a plan B to quit the Syrian market should the situation deteriorate further, its CEO Samir Hanna was quoted as saying.