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.
The Central Bank of Syria last week continued to reduce the value of the Syrian Pound relative to the dollar while the market rate remained unmoved by the latest political developments.
The performance of Syria’s banking sector in the first half of this year continued to be affected by the deteriorating economic conditions and the decline in the value of the Syrian Pound.
Syria’s stock market index gained 0.33 percent last week as trading remained focused on banking stocks.
Al-Aqeelah Takaful has reported that one of its directors resigned from its board.
The Central Bank of Syria has continued to devalue the formal rate of its currency, while tension in the black market receded somewhat in recent days.
Syrian stocks declined last week with trading volumes slightly rising.
The Central Bank has raised the official price of the US dollar as it seeks to close the gap with the black market level of its currency.
Syria’s insurance market in 2012 was dominated by the health sector, according to the industry’s regulatory institution.
There was little new in the last two weeks in the Damascus Securities Exchange.
Bank of Jordan Syria has announced the resignation of one of its board members.
Financial data published by two private sector banks confirm the growth of bad debt provisions across the sector.
The DWX declined last week for the third consecutive week as investors largely shied away from the securities exchange.
Bank Credit Guarantees
Damascus Chamber of Commerce
Damascus International Fairground