The bank accounts of the World Chess Federation have been closed over sanctions imposed on its president for dealing with the Syrian government.

For the first time in months, the main index of the Damascus Securities Exchange fell as investors seemed to be taking their profits.

Updated on January 23, 2018: The Syrian financial markets regulator has renewed for one more year the license of seven brokerage firms, while many others have their operations suspended or entirely left the market.

Only days after allowing local banks to resume lending, the Central Bank of Syria has partly backtracked on its decision for fear of pressures on the pound.

Byblos Bank Syria has announced the appointment of a new general manager.

Preliminary data from Syrian officials indicate that tax revenues increased last year, as a consequence of an improvement in economic activity and tax collection, although they remain far below budgetary expenses.

In December, the Syrian pound fell again relative to the dollar, reducing further confidence in the national currency and the Central Bank of Syria.

The Damascus Securities Exchange ended 2017 on a high note with investors making positive returns for the first time since 2010.

The main index of the Syrian stock exchange reached a new high for the year as it continued to rise in November, albeit at a slower pace than in the previous month.

The Syrian Pound gained more than 14 percent relative to the dollar in the space of one week as it comes close to the 400-pound level.