The European Commission has released a call to tender for assisting the establishment of Syria's future "Higher Institute of Business Administration".

The Syrian Commercial Bank is readying to retire 42 of its senior executives, reported Teshreen.

Syria and Bahrein ended yesterday their joint committee meeting with the signing of a series of cooperation agreements and memorandums of understanding.

The Syrian industrialists businesswomen council has denied it has any plan to set up a women-dedicated bank.

Starting April 20, the Syrian central bank (CBS) will begin taking applications to let private banks operate in the country, reported Sana, the state news agency.

A seminar to be held in Damascus at end of the month, on women's role in economic development, will see the announcement of the set up of a women-dedicated industrial bank.

The state-owned Industrial Bank recorded profits of SYP100 million (USD2 million) in 2001, said Teshreen.

The Syrian People's Council (Parliament) finally approved the reformed financial law, which governs the works of the financial sector and the Central Bank.

The gas pipeline that will eventually link Egypt to Syria will be partly funded by Arab financial institutions.

The five Lebanese banks established in Syria's free trade zones are not witnessing any activity, almost two years after starting their operations.

Lebanon's balance of payments reached a record deficit of USD1.17 billion in 2001.

Societe Generate, one of France's leading commercial banks, is studying with the Syrian government the project of setting up a banking network in the country.

Jean-Louis Mattei, in charge of International Relations at Societe Generale, a leading French commercial bank, met on Tuesday in Damascus Mustapha Miro, Syria's PM.

A delegation from Japan's Bank for International Cooperation will be visiting Damascus this month to finalize the legal aspects of Japan's USD70 million financing of Lattakia's port extension.

The European Investment Bank (EIB) will provide loans of more than 165 million euros (USD142 million) to finance projects in Syria.