Tax evasion in Syria is at some 8 percent of GDP, according to estimates produced by the General Workers Union.
The value of the trading in the Syrian bourse last week was a paltry USD 35,000.
Syria’s 14 private sector have released their preliminary results for last year, although changes in currency prices make it difficult to assess the health of the sector.
Syria’s stock market index remained unchanged last week amid low trading volumes.
The value of trading in the Damascus Securities Exchange increased last week, largely over transactions on a single stock, as did the market index.
After rising to above 250 pounds at the end of last week, the dollar fell back to around 235 pounds in the Syrian black market today.
Syria’s stock market index lost almost one percent last week falling under the 1,240 mark for the first time since April of last year.
The Syrian Pound last week has continued to decline relative to the US dollar and was traded at up to 240 per dollar today in the black market.
Two listed companies have announced changes to their board of directors.
Bank Al-Sharq, the Syrian affiliate of Banque Libano-Francaise, has appointed a new chairman following the death of Farid Raphael several months ago.
Only seven stocks were traded last week in the Damascus Securities Exchange, less than a third of total listed stocks.
The Syrian pound has lost again significant ground against the dollar in the last week as the Central Bank seems short of solutions to stop its decline.
Pioneers Syria, which had suspended its brokerage services at the end of 2012, has now frozen its remaining activities in the country.
The total value of trading at Syria’s stock exchange fell last week and stood at less than USD 50,000.
The Syrian Pound continued its slow but steady decline against the dollar last week.
EDU 2011 Aleppo
Sheraton Hotel Aleppo
EDU 2011 Damascus