Cement (850)

02-01-2012

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

26-12-2011

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.

19-12-2011

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. 

19-12-2011

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

12-12-2011

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.

05-12-2011

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.

04-12-2011

Royal Dutch Shell is pulling out of Syria after the European Union sanctioned Al-Furat Petroleum Company, the joint-venture firm through which the Dutch company is extracting oil in the country.

04-12-2011

Contrary to reports published early last week, Gulf carriers are yet to announce a suspension of their flights to Syria.

04-12-2011

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.

01-12-2011

Book of conditions to be purchased from company (SYP 2,000)

27-11-2011

Since the beginning of the year Syrian stocks have on average  lost half of their value as political and economic risks continued to increase.

27-11-2011

Banque Saudi Fransi, the largest shareholder in Banque Bemo Saudi Fransi, Syria’s leading private sector bank, said that it was selling its stake in its Damascus-based subsidiary and sister Lebanese bank, because of the “financial risks” in Syria.

21-11-2011

The Central Bank of Syria sold through an auction some USD 15 million in foreign currencies last week as it attempts to counter pressures on the Syrian Pound.

20-11-2011

Book of conditions to be purchased from company (SYP 1500)

14-11-2011

The decision by the Arab League on November 12 to impose economic sanctions on Syria marks a significant increase in international pressures and is likely to have a snow ball effect and to hit further business activity.

13-11-2011

Syria’s state-owned cement plants produced a total of 3.87 million tons in the first nine months of this year, according to the entity in charge of the sector.

13-11-2011

Syria’s wheat crop is estimated to have reached some 3.8 million tons after initial forecasts had raised fears it would be at a much lower level.

31-10-2011

Updated November 7 Syria’s Central Bank held on Thursday its first auction of US dollars and sold the American currency at a rate of SYP 51.30 or some 4 percent lower the market rate it sets.

31-10-2011

The Syrian Government has announced that it will close during the whole of next week, starting November 6, on the occasion of Eid Al-Adha or the Festival of Sacrifice.

30-10-2011

The main index of Syria’s stock exchange crossed the 900 mark again last week after two consecutive days of gains.

29-10-2011

The largest shareholder and vice-chairman of Kulczyk Oil Ventures, Jan Kulczyk, has confirmed the suspension of his company’s operations in Syria because of security and financing concerns.

24-10-2011

The United States has recalled its ambassador to Damascus only a few weeks after his confirmation by the Congress, due to "fears for his personal safety.”

24-10-2011

Updated on October 24, 2011. The steep rise in Syria’s 2012 budget is largely due to a change in accounting procedures, not actual spending increases, the Minister of Finance, Mohammad Jleilati said.

23-10-2011

Al-Badia Cement has announced the resignation of Nizar Asaad from its Board of Directors.

20-10-2011

The Damascus water utility is seeking bidders for the construction of a “biological gas treatment system” in the sewage treatment plant in of Adra, outside Damascus.

20-10-2011

Book of conditions to be purcahsed from company (EUR 153)

17-10-2011

Gulfsands Petroleum has announced that it has not received payment for its August production, raising fears for the company's prospects as well as for the government's finances.

17-10-2011

A Presidential decree has increased customs tariffs on cars and other vehicles in an apparent bid by the government to reduce imports.

17-10-2011

Loon Lattakia, the Syrian subsidiary of Kulczyk Oil, a Canadian-Polish independent oil company, has announced that it is suspending exploration works in Block 9.

16-10-2011

The Syrian financial market regulator, the SCFMS, has accepted the decision of Al-Badia Cement to reduce the nominal value of its shares to SYP 100, from SYP 400 previously.

16-10-2011

The Syrian financial market regulator, the SCFMS, has accepted the decision of Al-Badia Cement to reduce the nominal value of its shares to SYP 100, from SYP 400 previously.

16-10-2011

The recent price increase in fuel oil is creating significant difficulties for the country’s state-owned cement plants for which the item represents a major cost component.

10-10-2011

Syria is considering joining a customs union with Russia, according to AbdulFattah Ammoura, the country’s deputy Foreign Minister.

03-10-2011

The Syrian opposition appears to have finally got its act together, some six months after the beginning of the country's popular uprising, announcing yesterday the formation of a broad-based national council.

03-10-2011

Movie theatres will be exempted from customs duties on the import of their equipment as well as from other taxes for a period of 5 years in a move aimed at boosting their operations.

26-09-2011

Syria has banned the import of all products with customs tariffs of more than 5 percent, a move that signals growing nervousness over the country's foreign currency reserves and also dents into the profits of many prominent businessmen that have built their wealth on import trade.

21-09-2011

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

29-08-2011

Great Wall Drilling Company, a subsidiary of CNPC, the Chinese oil giant, is suspending operations in Syria because of the political unrest, according to Chinese media.

29-08-2011

Book of conditions to be purchased from company (SYP 1,500)

22-08-2011

Last week, the United States imposed new economic sanctions on Syria and a ban on all US imports of Syrian crude oil, measures that are gradually increasing the heat on the country’s economy.

22-08-2011

On Thursday in a significant diplomatic development, the US and its European allies called upon Syrian President Bashar al-Assad to step down from power. The move was met with repugnance on the part of the Syrian government.

21-08-2011

The Syrian President has set his seal on a preferential trade agreement linking Syria with Iran that will see customs tariffs between the two countries gradually lowered in the next five years.

21-08-2011

Syria’s Baath Party, which has been ruling Syria single-handedly for almost five decades, is establishing a private university, a move that will help it find new sources of finance but that also fully contradicts its proclaimed socialist principles.

15-08-2011

Six new university faculties were established by Presidential decree last week, all of them located in some of the least developed areas of the country.

15-08-2011

Over the course of the last eight days, the international community has grown markedly united in its condemnation of the Syrian government's use of force to quell the country's deepening revolutionary movement.

14-08-2011

The Syrian Government is seeking bidders for the engineering, procurement and construction of a 500MW steam power plant near Aleppo.

14-08-2011

Syria will increase the price of fuel oil by 53 percent starting September 15, in a bid by the Government to reduce its subsidy bill, although the new rate will still be some 50 percent below market prices.