The trading activity in the Syrian stock exchange fell for the second week in a row as the country enters a full week of holidays.
The Syrian authorities are closing the country’s foreign exchange companies as part of a clampdown on black market dealers.
A handful of stocks continue to dominate trading in the Syrian bourse amid low volumes.
Fransabank Syria has announced the election of a vice-chairman for its board.
Banque Bemo Saudi Fransi has announced that an armoured car transporting cash from one of its branches had been attacked.
The foreign reserves of the Syrian government declined significantly at the end of 2011, confirming the rapid depletion of foreign currencies held by the Central Bank of Syria after the beginning of the uprising.
The US dollar has lost some 15 percent of its value relative to the Syrian Pound in the last two days as the Syrian currency gained strength following the UN resolution on Syria’s chemical stocks, which was seen as a victory for the Syrian authorities.
The volume of trading in the Damascus bourse rose to 85 million pounds last week, half of which on a single stock.
Bank of Syria and Overseas has announced the election of Ihsan Baalbaki as vice-chairman of the board.
Syria’s insurance market declined 13 percent in 2012 according to data published by the industry’s regulatory institution.
Last week was another uneventful one for the Syrian stock exchange, which saw very limited trading take place.
For the second week in a row the DWX made gains although the level of trading gives very little significance to these changes.
The Commercial Bank of Syria, a state-owned bank under international sanctions, said that it generated six billion pounds in profits in the first half of this year.
Damascus Chamber of Commerce
Damascus International Fairground