Cement (894)


The Syrian economy will not collapse and GDP growth will be positive this year, Mohammad Jleilati, the Minister of Finance, was quoted as saying in a press interview.


Syrian stocks fell for the fifth week running with the Damascus Securities Exchange’s main index shedding 0.61 percent.


The Syrian President named on Wednesday June 06 a new prime minister, Riyad Hijab, in replacement of Adel Safar, whose government will have lasted little more than a year.


Fares Shehabi, the head of the Aleppo Chamber of Industry, was elected last week President of the Federation of Syrian Chambers of Industry, in replacement of Imad Ghreiwati.


Nazareth Yacoubian has been elected to sit on the Board of Directors of Syria Gulf Bank in replacement of Issam Anbouba.


The appointment of Nabil Hshaimeh as chief executive officer of Banque Bemo Saudi Fransi, Syria’s largest private sector conventional bank, has been confirmed by the Central Bank of Syria.


Updated June 03, 2012: Syria International Islamic Bank, an institution with Qatari strategic shareholders and that saw its assets jump 85 percent in the last quarter alone, was added to a list of companies under sanctions by the US Treasury, leading to the resignation of all its Board members.


Mohammad Jleilati, the Minister of Finance, has said that his government was finalising discussions with Russia to print money there, a move that signals a potentially growing economic dependency of the Syrian government towards Moscow.


Google has announced that it was allowing again the download of several of its prime software after control restrictions by the American administration were lifted.


Majid Al-Futtaim remains committed to its large scale Syria development in spite of a recent announcement that it was suspending works on it, the CEO of the company’s real estate arm said in press remarks.


Syria and Iran have reduced customs tariffs levied on goods exchanged between them to 4 percent starting April 28, 5 years ahead of the target.


Hassan Baalbaki is getting a seat on the board of Arab Bank Syria in replacement of Basma Talal Zein who resigned earlier this year.


The General Organization for Cement and Building Materials said that its plants had produced and sold 1.1 million tons of cement in the first quarter of this year.


The Syrian Pound has remained stable in the last two weeks, trading at around 70 pounds per dollar in the black market, as the Central Bank attempts to bring closer slowly, but gradually, its official rate.


The Syrian Army will stop all military operations tomorrow morning "after having succesfully countered the criminal acts of the armed terrorist groups," an official from the Ministry of Defence told today SANA, the state news agency.


The number of individuals who will run in the next Parliamentary election totaled 7,195 after the door for applications closed at the end of last week, according to the Syrian government.


The following document is the full text of the Conclusions of the Second International Conference of the Group of Friends of the Syrian People held in Istanbul on April 01, 2012.


Turkish Airlines, one of the few remaining international carriers still flying to Syria, announced that it will stop all flights to the country starting April 1.


Syria has increased by 10 to 15 percent the price of cement sold by state-owned plants on the back of an increase in production costs.


Stroytransgaz has announced that it had completed a new stage in its maintenance contract on the South Middle Area Gas Plant.


Updated on March 19: Syria’s Parliamentary elections will take place on May 7, according to a Presidential decree issued on March 13.


The US dollar briefly crossed the 100 pound threshold last week before recovering slightly in the last few days, as nervousness continues to prevail among money market dealers and investors.


Updated on March 5: The United Kingdom, France and Switzerland announced last week that they were closing their embassies in Damascus and withdrawing all their diplomats.


INA has formally stopped its operations in Syria, a decision that was awaited following last week’s announcement by the company that it was reviewing its options in the country after the imposition of sanctions by the Croatian Government.


Accor Hotels, a French hospitality group, said that it still planned to open 3 hotels in Syria by 2015.


Syria’s winter season has been rainy and cold with rainfalls already above annual averages in many parts of the country.


Croatia’s INA Naftaplin has announced that it was reviewing the situation of its investment in central gas fields in Syria after the decision of the Croatian Government to impose sanctions on the country’s oil sector.


The following text is the new Syrian Constitution adopted by referendum on February 26, 2012 and enforced this day, February 27, 2012.


Syria and Iran will start applying on March 21 a bilateral preferential trade agreement, a deal the Syrian Government hopes will increase exports and partly reverse the impact of the steep decline in foreign currency earnings it is facing.


Al-Badia Cement has announced that Tarek Ziad Al-Zaim had been selected to sit as Board member in replacement of Nizar Asaad who resigned in October.


Gulf Air and Saudi Arabia Airlines have announced that they were closing their flight services to Damascus.


Al-Badia Cement generated revenues of SYP 4.0 billion and posted a loss of SYP 669 million in 2011, its first year of operations.


Updated February 13: The European Union plans to impose new economic sanctions on Syria threatening to reduce further the Government’s foreign currency earnings and the country’s links with the outside world as diplomatic pressure piles on Damascus.


Syria’s official inflation rate almost doubled in December, partially reflecting the steep increase in prices witnessed in the local market in recent weeks.


Adra Cement, a state-owned cement manufacturing company, said that it had begun output from its third production line.


Book of conditions to be purchased from company (SYP 1,000)


Switzerland and Australia have announced an expansion of a blacklist of Syrian individuals and entities that are sanctioned for their alleged support to the Syrian authorities’ handling of the popular uprising engulfing the country.


Less than ten days after he was quoted as saying that a partial float of the Syrian Pound was underway, the Governor of the Central Bank of Syria said on Tuesday that there was no such plan and that press reports on the subject were based on fiction.


The Syrian Government allowed on Thursday local banks and money changers to price freely the foreign currencies they trade and announced that a managed float of the Pound would begin this week, in effect partly deregulating the foreign exchange market and, in the short-term, helping to ease pressure off the Syrian currency.


The Syrian Government has announced that it was rejecting the plan announced by the Arab League on Sunday to put an end to the crisis gripping Syria since March of last year and which includes a handling of power by the Syrian President to his deputy and a referral to the Security Council of the United Nations (UNSC) for its endorsement.


The Syrian Government has announced the formal launch of a scheme to build 50,000 low cost housing units across the country in a bid to supply affordable housing for the population.


The head of Syria’s cement manufacturing body said total output by Government-owned plants fell 10 percent last year, attributing the decline to competition from the private sector.


The Syrian economy has been greatly damaged by the crisis gripping the country, the Minister of Economy, Nidal Al-Shaar said.


Syria Gulf Bank has announced the election of AbdulGhani Attar as vice-Chairman of the company in replacement of Issam Anbouba.


Deteriorating political relations between Syria and Turkey are having an increasingly negative impact on Turkish companies doing business in Syria.


The disruption of its Syrian operations has forced INA Nafte, a Croatian oil company, to demand the suspension of trading on its shares in the London and Zagreb stock exchanges.


The agreement establishing a Preferential Trade Area between Iran and Syria entered into force last week after the Iranian Parliament approved the bill for that purpose, at a time sanctions are having an increasingly serious impact on the Syrian economy. 


The text below is the draft resolution on Syria put by Russia to the United Nations Security Council on December 15, 2011.


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 international community has continued to raise the heat on the Syrian Government through new economic sanctions with Turkey joining in and the EU announcing new significant measures.