Several large transactions on United Insurance stock lifted the overall value of the trading in the Damascus Securities Exchange last week.
Syria’s stock market index was almost unchanged last week and closed at 1,206.44.
After remaining relatively stable at around 300 pounds for the last two months, the dollar has gained some three percent in the last week in the Syrian foreign exchange market.
Only SYP 7.3 million worth of stocks were traded in the Damascus Securities Exchange last week.
In order to encourage taxpayers to pay their dues, the Government has decided to cancel penalties and interest fees on late payments.
Syria’s main index shed 0.4 percent in the last two weeks closing at 1,209.87 on Thursday, August 6.
Syria’s stock market index gained more than one percent last week amid low trading volumes.
Last week, Syria’s stock index closed above the 1,200 level for the first time in more than a month, while the value of trading was among the lowest on record.
The annual shareholders meetings of Syria’s commercial banks have seen some changes in their management and boards.
Only a third of Syria’s listed companies attracted interest from investors in the stock exchange last week.
In the absence of large transactions, the volume of activity at the Syrian stock exchange returned to the lows of the past weeks.
The dollar has edged past the 300 pound level again as the Central Bank of Syria has issued new one-thousand pound notes without the picture of Hafez Al-Assad.
A large transaction on shares of Bank Audi Syria has helped lift the overall value of trading in the Syrian bourse.
Syria’s DWX stock market index remained below the 1,200 mark for the second week in a row.
The annual report by the insurance market regulator shows that claims paid by the industry increased 50 percent year-on-year in 2014.
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