Syriatel (250)


Stock prices and volumes jumped in May and the stock exchange announced the suspension of the Syriatel stock.


Just a few days after his appointment, Syria’s new minister of domestic trade—and potential future prime minister—Talal Al-Barazi, has started to make his presence known.


The past week has seen a stunning succession of decisions, statements, appointments and resignations that illustrate the piling up of government pressure on Rami Makhlouf to silence him once and for all and restructure Syria’s telecommunications sector.


Three board members of MTN-Syria resigned this week as government pressure continues to impact the telecoms sector.


The rise of Rami Makhlouf as Syria’s most prominent businessman coincided with the ascent to power of Bashar Al-Assad in 2000. Given his long history of influence within the ruling elite, Mr Makhlouf’s recent side-lining raises many questions about the potential implications of his fall from grace.


Two extraordinary videos posted by Rami Makhlouf on his personal Facebook page have laid bare the divisions at the heart of the Syrian regime and posed a challenge for Bashar Al-Assad within the Alawite community. The Syrian president has been forced into a quick public defence of one of his most contested measures.


April was the first full month during which Coronavirus-related restrictions were implemented in the Damascus Securities Exchange.


The past few weeks have seen renewed challenges on Rami Makhlouf’s position within the Syrian regime: a shipment from one of his companies was seized in Egypt because it contained drugs; his personal assets and those of one his companies were frozen; and the government is claiming at least one hundred billion pounds from Syriatel.


The list below includes all the Syrian individuals, entities, aircrafts and vessels that have been put under sanctions by the U.S. Administration since 2005.


The list below includes the names of all the individuals that have been blacklisted by the European Union since the beginning of the Syrian uprising in March 2011.


The list below includes the names of all the Syrian entities that have been blacklisted by the European Union since the beginning of the uprising in March 2011.


Preliminary results indicate that Syriatel and MTN-Syria maintained their respective shares of the mobile phone market after seeing revenue growth of around 20 percent.


In a very rare statement denouncing the recent legal proceedings against him, Rami Makhlouf has provided several interesting insights into his personal situation, indicating that he intends to remain active in the business scene.


The government has frozen the assets of Rami Makhlouf, a step that appears to follow previous restrictions on the once-powerful businessman, but which could still be reversed.


The year 2019 came to a disappointing close for the Damascus Securities Exchange, which saw its main index decline for the first time in four years.


The government has frozen the assets of two businessmen affiliated with Cham Wings over claims that they owe millions of dollars in unpaid bills.


Syria’s two stock exchange indices declined last month, reflecting investors’ negative perceptions of the economy’s prospects.


The Ministry of Finance has frozen the assets and bank accounts of MTN-Syria and of several of its board members, a decision that signals that it wants to put pressure on one of the country’s largest companies.


Despite listing three of the country’s largest companies over the past several months, total trading value in the Damascus bourse barely reached USD 1 million in October.


The UK has sanctioned a British company for making payment transfers to Syriatel and as such breaching EU sanctions imposed on that company.


The trial of Nader Qalei in Canada will take place in May next year as the Syrian investor is expanding his investments back home.


The Central Bank of Syria has ordered a freeze on the bank accounts of Tarif Al-Akhras, one of the country’s most powerful businessmen and a relative of Asma Al-Assad, as well as on those of several other prominent businessmen, a move that seems to confirm the government’s increasing pressures on the business community.


Al-Badia Cement has received the final approval for listing in the Damascus Securities Exchange.


The Syrian authorities are putting more pressure on Syriatel, the country’s largest private sector company, The Syria Report has learned.


Since Tuesday 27 August Damascus is full of rumours on a clampdown by Bashar Al-Assad on Rami Makhlouf, a move which, if confirmed, could signal a significant change at the helm of the Syrian regime.


The Syrian bourse’s two indices, the DWX and DLX, took opposite directions last month as trading volumes increased.


This table lists all Syrian public joint-stock companies active as of July 2019 with the value of their capital (in million SYP).


The Syrian stock exchange’s main index shed almost four percent in the first six months of this year as it continues to fail at attracting meaningful interest.


The table below lists the Syrian companies contracted by UN agencies in 2018.


UN agencies operating in Syria have increased by some 20 percent the value of the contracts awarded last year to Syrian companies.


Al-Badia Cement has received a preliminary approval to list its shares on the Damascus Securities Exchange.


Syria’s two main stock indexes declined in May for the second month in a row.


The European Union has renewed for one year its set of sanctions on Syria and delisted several individuals and entities.


The Syrian stock exchange’s two main indexes fell last month amid low trading volumes.


The market price of Syria’s most prominent stocks increased significantly last month.


A new attempt by Rami Makhlouf to cancel EU sanctions against his companies has failed.


In this article The Syria Report addresses key issues raised in the debate over western sanctions on Syria and makes a number of policy recommendations.


The Syrian stock exchange’s main index gained 2.26 percent last month amid low trading volumes and as interest in the Syriatel stock seems to have quickly faded.


Syria’s two mobile phone operators have posted a significant increase in their 2018 profits, largely thanks to the lower annual license fee paid to the government.


Damascus and Tehran are negotiating again the award of a mobile phone license to an Iranian company.


In a month marked by the listing of Syriatel, almost all stocks that were traded in relatively important volumes in the Damascus Securities Exchange fell.


European sanctions inflicted last week on several Syrian investors and companies are disrupting more than expected their business activity.


For the first time, the European Union has put sanctions on the business elite that has emerged from the Syrian war as well as on its most symbolic investment project.


The DWX closed 2018 with a small decline as the Syrian stock exchange mostly failed to live to its expectations last year.


Several companies from the UAE are looking again at the Syrian market and sending delegations to Damascus.