Assets of Commercial Bank of Syria (CBS) affected little by the EU sanctions
التجاري السوري : أرصدة المصرف المجمدة قليلة
الاربعاء - 16 تشرين الثاني - 2011 - 19:05:06
http://www.aksalser.com/index.php?page=view_news&id=57a1f9bb9a0bbce2f3d351ba777067fc&ar=476972025
ندوة الاعتمادات المستندية تناقش وسائل وطرق وتعاملات المصرف التجاري السوري في ظل العقوبات الاقتصادية
Symposium on documentary credits and discussed ways and means and transactions Commercial Bank of Syria in light of the economic sanctions
http://www.sana.sy/ara/343/2011/11/02/379628.htm
November 2, 2011
Damascus, (SANA) -
Focused seminar documentary credits set up by the Damascus Chamber of Commerce in cooperation with the Commercial Bank of Syria in the symposium weekly on the means and methods of transactions Commercial Bank of Syria Documentary Credits under the application of economic sanctions imposed on Syria and the facilities provided by the dealings from the public and private sectors to ensure the needs of the local market.
The Chairman of Damascus Chamber of Commerce Mohammad Ghassan Qallaa to the difficulties faced by importers in securing goods and materials Jordunha of some European countries as a result of excess shipping costs from a third country and the ban on some banks in the world.
Qallaa said there are many friendly countries expressed their cooperation for the import of goods en route noting the reputation of the Syrian merchants and its ability to supply goods to meet the needs of the local market.
For its part, explained assist the Director of External Relations in the Commercial Bank of Syria Maha Abdel Rahman, it is not the first time that the unjust sanctions imposed on Syria in general or on the Commercial Bank in particular has already been overcome such crises.
And confirmed the ability of the bank now is to continue to work despite the sanctions, thanks to the efforts made by the bank staff at all levels functional so that everyone works to deal flexibly large selection of banking solutions suitable for all cases indicating the presence of many banks across the world that believe that the sanctions imposed on the commercial bank is unjust sanctions are not based bank to any irregularities committed by the bank and thus does not feel compelled to bow to such sanctions, as in the past will work in line with their domestic laws and in the framework of banking methods used.
For his part, between the infectious Knight, Deputy Director of Operations in Commercial Bank of Syria that there are negative effects of sanctions undeniable reflected by increasing the cost of some banking operations as a result of the need to implement through more than one bank as well as to arrange commissions, additional in the event of payment in a different currency from the currency contracted upon between the parties Kaltsudaid trading in euros instead of dollars, for example, and in some cases having to deal with banking solutions, the highest risks sending the documents collection fee instead of dealing Documentary Credits.
Turn between the handsome Jblaga of the operations center bank to deal with type traditional credits / familiarized themselves or deferred payment / is prevalent in Syria but in the light of existing economic sanctions was needed to deal with other types of funds focused on two types of funds appropriations convertible or appropriations opposite.
And that reliance convertible is used when a seller is not the product of any that dealer and broker buys the goods from the party and sells it to another party and that reliance converter is the knowledge of all parties and participating banks have the right to the bank which received accreditation does not accept the transfer to the beneficiary that little dependence explicitly in it issued transferable.
A number of participants in the symposium on the conditions that can be changed with the transfer of credit, as explained opposite cases of the use of funds and mechanisms and the role of the intermediary bank in the responsibility of coordination in this case.
Tax seminar by Damascus Chamber of Commerce
ندوة غرفة تجارة دمشق تركز على الإجراءات المتخذة بشأن تأدية الضرائب والرسوم المالية والتعرفة الجمركية
http://www.sana.sy/ara/4/2011/11/16/382099.htm
Fuel crisis
Electricity consumption jumps 32% suddenly!!! (people abandoned fuel heater, and begin to use electric heater instead.)
لأول مرة بتاريخ سورية.. وزير الكهرباء: قفزة كبيرة في استهلاك الطاقة والطلب زاد 32%
الخميس - 17 تشرين الثاني - 2011 - 9:18:46
http://www.aksalser.com/index.php?page=view_news&id=55b5d60a006e2c774039611a03df85a3&ar=374630870
Fuel consumption increases 17% compared to the same period last year.
17% زيادة في استهلاك المازوت خلال شهر تشرين الأول مقارنة بالفترة نفسها من العام الماضي
http://www.aksalser.com/index.php?page=view_news&id=fc6f34f80c43d218e9def86aa4ed6135&ar=869213208
(Note: It seems that the fuel crisis is caused by (1) excessive subsidy on fuel (Syrian price is one eighth of Turkish) and (2) physical disruption of energy transfer due to terrorist bomb attacks on railways.)
Electric Power Company in Aleppo announces rationing. 2 hours from 15 - 21 everyday.
جدول ساعات تقنين الكهرباء في حلب
الاربعاء - 16 تشرين الثاني - 2011 - 15:44:28
http://www.aksalser.com/index.php?page=view_articles&id=9f38a6f6dc4a01b531d0307f7cc8481a&h=%CD%E1%C8&ar=25048024
Gulfsands reaches deal with Syria on oil payments
November 17, 2011 04:37 PM
Reuters
http://www.dailystar.com.lb/Business/Middle-East/2011/Nov-17/154400-gulfsands-reaches-deal-with-syria-on-oil-payments.ashx
"They advised us they will make a partial payment for our operating costs. They said they will pay us the rest if they can resume exports," Gulfsands' President Mahdi Sajjad told Reuters.
Chamber of Tourism in Aleppo submitted a set of policy recommendations to the ministry
غرفة سياحة حلب تقدم مقترحات لمواجهة الظروف الصعبة التي يمر بها القطاع السياحي
الاربعاء - 16 تشرين الثاني - 2011 - 18:48:22
http://www.aksalser.com/index.php?page=view_news&id=b41986ea7b1871b7c70852a17827cd65&ar=998780307
Cotton production in Aleppo
حلب تتوقع أن يقفز إنتاجها من الزيتون إلى 325 ألف طن الموسم الجاري
http://www.sana.sy/ara/134/2011/11/16/382010.htm
Cotton sales figures by region
تسويق أكثر من 561 ألف طن من الأقطان إلى محالج المؤسسة العامة للأقطان
http://www.sana.sy/ara/345/2011/11/17/382282.htm
Conference of Agricultural Engineers in Damascus discusses organic agriculture and medical plants
المشاركون في مؤتمر فرع دمشق لنقابة المهندسين الزراعيين يوصون بدعم الزراعة العضوية والتوسع في إنتاج النباتات الطبية
http://www.sana.sy/ara/2/2011/11/17/382314.htm
Hama Cement
تطوير المعمل رقم 2 يرفع قدرة شركة اسمنت حماة الإنتاجية 100 %
http://www.sana.sy/ara/347/2011/11/15/381752.htm
Tartous hit by rain storm, damage worth 7mil SL (USD 14 thousands)
عاصفة مطرية بطرطوس تتسبب بأضرار تقدر بـ7 ملايين ليرة
18 تشرين الثاني , 2011
http://www.sana.sy/ara/2/2011/11/18/382332.htm
Damascus stock price index for this week
Massive trading volume ahead of the Arab League meeting
DSE recorded the historical low and historical trading volume. The previous record volume was 441 thousand on August 2, 2011. Since the drop rate was only 1%, we should pay our attention to the volume rather than the index. Official sources may have been intervened in order to support the market.
14/Nov/2011 897.35 trading volume 6 thousand
15/Nov/2011 889.71 trading volume 8 thousand
16/Nov/2011 880.96 trading volume 551 thousand
(In a temporal measure, the market is open for 3 days a week only.)
16/Dec/2010 1752.50 (historial high)
24/Oct/2011 896.68 (historical low)
Weekly closing rates
19/May/2011 1323.11
26/May/2011 1256.80
02/Jun/2011 1234.13
09/Jun/2011 1136.82
16/Jun/2011 1133.09
23/Jun/2011 1057.36
30/Jun/2011 1031.04
07/Jul/2011 1067.50
14/Jul/2011 1032.62
21/Jul/2011 1010.06
28/Jul/2011 1013.81
04/Aug/2011 993.89
11/Aug/2011 950.89
17/Aug/2011 951.66
24/Aug/2011 950.73
29/Aug/2011 951.05
07/Sep/2011 933.34
14/Sep/2011 909.16
21/Sep/2011 927.12
28/Sep/2011 957.97
05/Oct/2011 931.37
12/Oct/2011 910.37
19/Oct/2011 897.91
24/Oct/2011 896.68
02/Nov/2011 903.82
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