The stock exchange's main index rose for the second week running but closed the year with an annual decline of 50 percent.

The Central Bank of Syria has raised the interest rates paid on investment certificates to 8 percent.

Syria’s stock index posted a gain of 2.81 percent this week after several consecutive weeks of decline.

The value of the Syrian Pound to the US Dollar has stabilized in the last few days on the back of the decision of the Central Bank to bring the national currency’s official rate closer to its black market value.

The main index of Syria’s stock exchange remained stable this week as the market regulator passed a new measure to limit the decline in share values.

The Agricultural Cooperative Bank has a new General Manager, Ibrahim Zaidan.

Syria’s stock exchange continued its downward spiral with the market’s main index shedding an additional 0.50 percent over the course of the week.

The Central Bank of Syria has licensed a new foreign exchange company based in Damascus and established by the Qalaaji family.

The Central Bank of Syria has opened bank accounts with three Russian financial institutions, according to press reports.

Syria’s insurance market declined by 13 percent in the third quarter of this year compared to the same period of 2010, according to statistics released by the industry’s regulator.

The Central Bank lowered on Sunday by some 6 percent the value of the Syrian Pound to the US dollar and to the Euro in a bid to contain the decline of the national currency in the black market. 

Updated December 05: SCFMS, the financial markets regulator, has given a preliminary approval to Arab Orient Insurance Company to list in the Damascus Securities Exchange.

Syrian investors continued to flee stocks last week with the index of the securities exchange losing an additional 1.85 percent to fall to 846.95.

Updated November 28: The value of the Syrian Pound to the US Dollar fell to around 56 in black market trading last week, or some 12 percent off its regulated price, as political and economic pressures continued to mount.

As Banque Saudi Fransi announced that it was quitting the Syrian market, Al-Baraka Bank said that it was planning to expand its presence in the country.