Gulfsands says not paid for August output in Syria
http://www.reuters.com/article/2011/10/17/gulfsandspetroleum-brief-idUSL5E7LH0E520111017
Mon Oct 17, 2011 3:26am EDT
* Says cash position to cushion loss of revenue
* Instructed to continue to limit Syrian output
* Lower output to continue to end October at earliest
LONDON, Oct 17 (Reuters) - Gulfsands Petroleum Plc said it had not yet been paid for its August output in Syria, escalating the British firm's problems in the country after the oil ministry last week ordered it to reduce production.
Gulfsands, which produces over 90 percent of its total output in Syria, said on Monday it had expected payment for August output of around 24,112 barrels of oil per day last week.
It warned last month that popular unrest in the country meant its production outlook was uncertain.
The company said it had been paid in full for production through to the end of July, adding that it had a strong cash position and was therefore well-placed to cope with the short-term loss of revenue.
Gulfsands last month reported a first-half profit after tax of $31.2 million, an 87 percent jump on the same period in 2010, boosted by higher oil prices.
The Syrian Oil Ministry last week told Gulfsands to reduce production at its Block 26 licence due to a shortage of crude storage capacity in the country.
In September the European Union, the biggest buyer of Syrian crude oil, banned imports of the country's oil to put economic pressure on President Bashar al-Assad, following similar sanctions imposed by the U.S. in August.
The company said on Monday that Syrian authorities had instructed it to continue to limit Block 26 gross daily production to 6,000 barrels of oil per day, pointing to routine refinery maintenance in Syria.
Gulfsands said this reduced level of output was expected to continue until the end of October at the earliest, putting average Block 26 production for the month at 6,000 barrels of oil per day.
In August, the company clarified its links with Syria's Assad government in a move designed to defuse media reports and criticisms from pressure groups about its activities in the conflict-torn country. Syrian tycoon Rami Makhlouf, a cousin of the president and a focus of the protests, owns a 5.7 percent stake in Gulfsands.
غداً السورية للطيران تبدأ تسيير رحلاتها لنقل الحجاج
Tomorrow the Syrian Air start flights to transport pilgrims
http://www.sana.sy/ara/2/2011/10/17/376065.htm
October 17, .2011
الزيوت النباتية ثانية في ارتفاع الأسعار بعد الفروج و«بيضه»...هزاع: غلاء المعلبات لقلة العرض.. الأدوات الصحية تواصل ارتفاعها رغم «تشددنا»
Vegetable oil prices rise again after the chicken and «eggs» ... Hazzaa: cost of canned food to the lack of supply .. Sanitary ware continues to rise despite the «Chddna»
http://www.alwatan.sy/dindex.php?idn=110486
http://backupurl.com/ust9vs
17/10/2011
Markets have seen Damascus and its countryside gradually decrease the prices of some food commodities, especially after the cancellation of the decision to suspend the import, after growing up to 20% in the price of vegetable oil and animal fat and sugar for the real price, as tasked by sources markets Damascus not to put this material on the market and the monopoly of some weak the soul as a prelude to selling them at high prices.
At the same time, keep some food at high prices, such as canned Kalton and sardines, which has been raising their prices are synchronous with the decision of suspension, and attributed the Deputy Director of Economy and Commerce in Damascus Ziad Hazzaa high price of canned goods to a corresponding rise globally by the decline in catches over the world.
It occupies vegetable oils second high cost price after the price of eggs and poultry, which are still Artvallma significantly, raising the price of a pack of vegetable oil weighing one-liter in one month from 80 to 110 lira «the price of inter», bringing retail to 125 pounds.
The sunflower oil, both types of national and foreign investment has also increased its price during the month from 100 to 125 pounds «phrase» and retail to 155 pounds, and in addition to increasing its price has dropped it in the markets, caused Alsmon animal.
The price of canned sardines and a ton to move price of a pack sardines from 25 to 35 pounds and up to 40's. Q for some species desired by large segments of consumers, and recorded packet per ton, which was worth 35 pounds «inter», priced new 50 pounds and retail 75 to pounds , while other types of canned food such as chickpeas, beans and mortadella and other prices did not occur to any change.
He Hazzaa: The price of materials electrical appliances, ceramics, sanitary ware and continued to rise in Damascus and its countryside far from the decisions of the Ministry of Economy, whether its decision to prevent the import or irreversible as written material indicating that the rate of rise of between 25 to 75% did not observe these articles any decline in more than month and reliable by some that the reason for being a global rise of imported materials.
Hazzaa said: The reason for the high price of eggs and chicken due to the significant losses affected the poultry sector and exit of the largest proportion of poultry farmers and the high cost to educators in addition to higher feed the world.
He expected the Associate Director to note the market chicken and egg drop in price in the coming weeks, after the decision of the Ministry of Economy containing reduced quantities exported by half in order to maintain to achieve the low price of material as the price of Fund eggs to 210 pounds after it was sold in the same period last year at 120 pounds and Tsarh Directorate in the list of popular prices issued yesterday to 170 pounds.
The prices of vegetables and fruits stable compared with the prices last week as a result of their availability in abundance in the market, but export operations, continues to play its role in the rise in prices ranging price of potatoes between 18-22, and the price of tomatoes 15-20, cucumber 25-30, eggplant Homsi 25-30 season and play «Almkdos» role in this increase is striking, squash between 15-20, and bananas 40-50, apple 30-45, grapes 25-35.
And continued to cement prices fall to be sold a ton about 6500 pounds at points of sale for closer to the price of official and which amount to 6200 pounds a Muslim in the centers of the General Company of urbanization, which led to an increase of Auditors to the centers coincide with the approach of the price per ton free with the price of the public sector and keep the iron brominated on the price around 41 thousand ton and continued activity in the construction sector and the cladding, which created a great demand for building materials as well as labor and machinery used.
10 ملايين طن إنتاجنا الزراعي في 2011
10 million tons in 2011, our agricultural production
http://thawra.alwehda.gov.sy/_archive.asp?FileName=31683550520111016225421
http://backupurl.com/ju9xen
Monday, 10/17/2011
Mazen Jalal your best
Sources with the Ministry of Agriculture that the quantities of production of crops and summer vegetables amounted to 2.94 million tonnes, of which 770 thousand tons of cotton and the remaining crops and summer vegetables such as corn and summer fodder crops, tomatoes, potatoes and other vegetables.
(production volumes for each crop omitted)
وزير التربية: الإسراع بتنفيذ مباني المؤسسة العامة للطباعة
Minister of Education: accelerating the implementation of the institution of public buildings for printing (in Adra)
http://www.sana.sy/ara/2/2011/10/17/376168.htm
October 17, .2011
Damascus, (SANA) -
(الوطن) تبحث في إشكاليات زيادات رأسمال المصارف
(alwatan.sy) looking at the problems of banks' capital increases
http://www.alwatan.sy/dindex.php?idn=110492
http://backupurl.com/cz1r2y
17/10/2011
Chairman of the Board of Commissioners of the Securities Commission and the financial markets Syrian Dr. Mohammad Al Emadi's «alwatan.sy»: It was extended by increasing the capital of banks operating for a period of 90 days has been to extend the subscription period for shares of capital increase Fransabank - Syria until 23/10/2011, and where he was subscription for the full share of the bank, but the subscription is not by investors, and the extension and we are trying to cope with the current reality, but the dialogue and debate still exists with the Central Bank on the extension of the period conferred increases banks' capital.
السوق السوداء تؤمن الدولارات لزبائنها بعمولة تقل عن المصارف المرخصة...المصارف الخاصة تخالف المركزي وترفع العمولة على سحب القطع الأجنبي
The black market dollars to provide its customers a commission of less than licensed banks ... private banks, contrary to the central and raise the commission to withdraw the foreign exchange
http://www.alwatan.sy/dindex.php?idn=110494
http://backupurl.com/fg2emi
17/10/2011
Invented the citizens a new way to get through the remittances of Finance, which come from the outside with the same foreign exchange, which were beaten off by it, and after it suffered during the last period of the problems with private banks that refuse to give them the money order the same foreign currency, especially if the dollars, or SAR.
The way it was resorted to: that the trader who needs to buy foreign exchange to the dollar in the bank by the black market that remains of dollars in banks and in turn give the black market dollars to those who wish for a commission in cash less 3 per thousand.
This means that the cost per thousand dollars of 150 pounds.
Note that the instructions of the Central Bank require that the commission is 3 per thousand.
In the meantime, there are still some private banks are afraid of foreign exchange have, a maneuver one way or another to give customers remittances in foreign currencies the same whether SAR or dollars or other and are presented to them receive remittances lira or arrested 2,000 euros and the rest in Syrian pounds under the pretext of a decision for the central bank to stop dealing in dollars.
Although some private banks to allow depositors to withdraw their dollars from what they want, they resort to another kind of complexity which is to raise the commission rate to more than the percentage specified by the Central Bank of Syria, which does not exceed 3 per thousand. Where «alwatan.sy» that can be for depositors in the Qatar National Bank, for example the withdrawal of what they want from their dollars while taking a commission of 5 per thousand, and this is also possible in the Bank Audi but it is essential to those who want to withdraw large sums of money to inform the Bank in advance to secure the required amount, taking a commission of 4 per thousand.
As well as can be to depositors at the Bank of Syria and Overseas pull what they want of dollars with the payment of commission $ 6 per thousand with the caveat that some branches may be postponed to another day in the absence of sufficient quantities, and for Syria Gulf Bank and conditions shall be met to withdraw $ 5 thousand dollars a maximum , and puts the Arab Bank to withdraw the dollar commission of 5 per thousand.
The same applies to the Bank Bemo where the applicant have to pay a commission of 4 per thousand and the ceiling is 5 thousand dollars. If approved by the applicant, said he does not now exist in the main branch of dollars, and the Director of Legal Affairs of the Bank Bemo Vti be no legal justification for not giving the customer Dolarath.
In this regard poses a financial analyst Nader Aghannimi question: If you can the black market to secure dollars to its customers, and the commission is cheaper than the banks did not need the banks to have deposits of billions and act in a manner which people are forced onto the black market, which is committed to commission imposed by the central bank on the opposite banks licensed? .
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