The Figure " 25 " is the Most Circulated Figure in Syria

The Figure " 25 " is the Most Circulated Figure in Syria

It is obvious that the policy of subsidies of energy prices followed by Syria has faced a number of factors and influences which made the Syrian government to reconsider lately its adopted policies especially with regard to the policy of pricing and distribution.
The Syrian government has stopped lately, in partial, the subsidies of fuel in the sense that each citizen will be granted 1000 Liter of fuel for each Syrian family and with a subsidized price said to be higher than the previous price.
Moreover, two days ago, subsidies of gasoline prices have also stopped considerably with regard to the Public sector, as prices of one liter of gasoline has become 25 Syrian Pounds instead of 7 Syrian Pounds.
May be among the factors that the Syrian government considered when taking these steps are two factors. The first is the fact that Syria has shifted lately and gradually into an importing country of a great part of its needs from gasoline, and the second is the big difference of prices of gasoline in Syria compared to the neighboring countries, which resulted in " gasoline trafficking " from Syria to those countries.
The surge of gasoline prices in Syria has coincided with the increase of incomes of employees at the Public sector by 25%. But the question that worries the Syrian citizen is: will this increase of incomes be able to create a kind of balance with the increase of gasoline prices by more than 25% which will have ultimately a great impact on the prices of many of goods in Syria.

The Kuwaiti "Dar Istithmar" Considers Selling a Share at "Al - Sham" Bank

The Kuwaiti Islamic "Dar Istithmar" company has said that it was considering selling its share at the Islamic "Al-Sham" bank, adding that no agreement has been reached yet.
A report issued by an unknown source and published at the Kuwaiti " Al-Rai" newspaper said that the company had agreed on selling its share estimated at 12,5% at the Syrian bank to the Kuwaiti trade bank which offered to pay 700 S.P ( $ 15,32) per share , but " "Dar Istithmar" company said in a statement on the Kuwaiti stock market web site that " it was still considering the issue ,and that the applications should be submitted to the concerned bodies in addition to the agreement of the Administrative Board of the company.

The Real Estate "Al-Dar" Company Signs an Agreement With "Taj" Company for Hotels

The real estate "Al-Dar" company signed yesterday in Dubai an exclusive agreement with " Taj" Company for Hotels, Resorts, and Palaces, one of the biggest and luxurious international hospitality groups in Asia.
The agreement includes a number of projects, the first is the project of building a five – star-luxurious hotel and resort with 500 rooms to be built by " Al-Dar" in a strategic location at " Yas" island in a addition to building many facilities and offering services that address the hotel’s distinctive location in the island. It is worth mentioning that the hotel will have the trade mark "Taj Palace"

A Turkish Telecommunication Company Denies Any American Pressures to Give Up Buying the Syriatel Company

The Turkish Turkcell Telecommunications company has denied what Arab diplomats and officials said that it was subject to American pressures to give up a deal with the Syrian Telecommunications Company Syriatel, adding that the talks between the two companies are still being held.
Reuters News Agency quoted an official at the Turkish company as saying that "the U.S. has not exercised any pressures against his company , be it written or verbal , and it did not issue any statement with this regard that indiates any embargo on investment in Syria.

$ 11 Billion from the Asian Development Bank To Combat Poverty

The Asian Development bank has managed in allocating $ 11,3 billion of donations to be granted to the Fund of Development affiliated by the bank for combating poverty in Asia and the Pacific region in the coming four years. It is worth mentioning that the Asian Fund for Development , affiliated by the Asian Development bank grants donations and low – interest loans for the poorest countries in Asia and the Pacific, with a total population of 400 million who live with less than two Dollard a day.

The 14th Session of the International Construction Exhibition " Buildex – 2008 " Starts in Damascus

The 14th session of the International Construction Exhibition " Buildex – 2008 " is due to be held between 12 – 16 of this month at the Fairgrounds in Damascus with the participation of big local , Arab, and foreign companies working in the sector of construction and its accessories.
Mr. " Alaa Hilal", the General Director of the Arab Group for Exhibitions and Conferences, the organizing body of the event ,which held lately a conference on this occasion, said that the exhibition comprises more than 580 pavilions representing about 1795 companies, and trademarks from 54 countries, with expectations that this number will increase and to reach , according to "Hilal" , to more than 250000 visitors.
Furthermore, " Hilal" considered that " Buildex" exhibition has become , according to specialists and experts , a real propeller of the construction sector and its accessories in Syria as well as countries of the region.

Small Indexes

 A senior Iranian official said yesterday that the rising oil prices might continue to rise till the end of the year, adding that this rise is not the result of the shortage of crude oil in the market.
 Syrian Minister of Finance, Dr. "Mohammed Al-Hussein" has said that the government has decided to increase the incomes of the employees by 25% , adding that this increase comprises 2 million employees working in the public sector as well as the retired employees . He pointed out that this decision will cost the treasury about 1, 3 billion S.P.

Companies Indexes

 The Qatari Real Estate company " Barwa", the biggest real estate development company in the country in terms of market value , has said that it bought a land in Sudan for developing a housing and trade project.
 The Arab Bank for Economic Development in Africa " Badia" has signed four agreements for granting loans with four African countries : Borkina Faso , Borondi, Kynia, and Mali with a total value estimated at 4 31 million for financing develiopmental projects .

Bids

 Yahoo company has expressed adherence to its stand, saying that Microsoft company offered it a price less than expected for buying it, and expressing happiness over the approval of a big number of share- holders to adhere to its stand.
 " The Omani " Al-Nahda" company for Maritime Services, has said that it agreed on concluding a deal estimated at 453 million Qatari Riyal ( $ 124,4 million ) for buying " Al-Doha" Company For Maritime Services which owns a fleet for supplying services for ships that carry oil and gas.