Syrian Minister of Transportation Says His Country’ Airlines Fleet Declines

Syrian Minister of Transportation, Yarub Sulayman Badr, has said that the Syrian fleet of airlines has started to decline, especially that Boeing 727 and Boeing and Jumbo 747, which only one is still in service, are all have become out of service.
Thus, The Syrian Airlines Establishments has only 6 Airbus planes. In an interview with the state-run Al-Baath newspaper, Badr further said that it is difficult to think of new lines, of for the Syrian airlines ,pointing out that the establishment is about reconsidering some already existing lines and suspending some flights in accordance with the decline of the number of planes under operation currently.
It is worth mentioning that the Syrian Airlines Company needs to renew its fleet of planes but its continuous attempts were faced with an embargo by the U.S. for exporting spare parts for the planes working via the Syrian Airlines, in addition to the fact that the Establishment has failed in expanding its fleet of the well-known planes: Boeing and Airbus.

The Liberalization of the Syrian Banks Achieves Good Progress

A report said that the liberalization of the Syrian banking sector is achieving a great progress, but the public banks are still dominating the sector ever since it was opened for private investments four years ago.
Syria has taken specific steps for opening its economy after decades of nationalization.
9 private banks and 6 others owned by the state are currently under operation. The report further added that other 9 private banks are to be opened in the country, adding that the entrance of new players encourage the developing economy, although there are still to be done, yet the liberalization of this sector is moving in a very god pace.

A Memorandum of Understanding for Organizing an Exhibition for Syrian Products in Ukraine

The Syrian General Establishment for Exhibitions and International Markets , on the one hand, and Ukraine Centre for Exhibition , on the other, have signed a memorandum of understanding for holding the 1st exhibition of the Syrian products in the Ukrainian capital Kiev.
For his part, General Director of the exhibition said that the exhibition will be held between 26 of October till the second of November of this year on a total space area of 1000 square meter for exhibiting products, a variety of goods for direct selling in addition to other products dedicated for businessmen for a possible signing of contracts and deals with the participating Syrian companies.

The Qatari Index Exceeds 12.000 Points

The Qatari index succeeded yesterday in exceeding the barrier of 12.000 points , following winning 88 points which equals 0,47% of its value, and closing at 12.017 points, backed by the shares of Trade, Banking, and Qatar Industries company.

The 5th International Exhibition for Construction in the Iranian Kish City

The 5th International Exhibition for Construction Materials was opened at the Iranian Kish city, south of Iran on Monday with the participation of 190 companies from 14 countries. Yhe activities of the participants will focus on exhibiting construction materials, construction equipment, mechanical and electronic facilities, equipment, machines, in-house decoration, building railways, airports facilities, seaports, dams, bridges, parks, and gardens.

Syrian-Kuwaiti Talks for Financing Developmental Projects in Syria

Head of the Administrative Board and the General Director of the Arab the Fund for Socio-economic Development , "Abd Al-Latif Al-Hamad" has said that the talks held with the Syrian Prime Minister centered on financing a number of developmental projects in Syria, adding in a statement to the Kuwaiti News Agency Kuna that his talks come in the context of reviewing the new developmental programs in Syria and reaching an understanding on the program of granting loans by the Arab Fund for Socio-economic development, as well as renewing the Syrian-Kuwaiti relations which have always been strong and prosperous between the Syrian government and the Kuwaiti Fund.

Small Indexes

- The Omani Index" Masqat" declined yesterday , losing 12 points, which equals 0.1% of its value , and closing at a level estimated at 2859.
- The Egyptian Minister of Oil has revealed that there is an integrated program for providing Gaza electricity station with the Egyptian gas.
- The Jordanian index settled yesterday by 9077 points, after it lost 0, 12% of its value.

Companies Indexes

- Sharja bank has said that it will change the name of the Lebanese "Al-Biqa’a" bank, which it acquired before, into Emirates and Lebanon bank, adding that it will provide a new financial contribution to the bank with a value estimated at $100 million, raising the total volume of the of the contributors in the bank into $ 150 million.

Exhibitions & Conferences

- The giant Swedish company for Household equipment, Electrolux has said that it intends to close one of its refrigerators factors in Italy with the aim of increasing its competitive abilities.
- Head of the Russian Saving Bank " Spare Bank" , Mr. " German Greeve" has said that Petersburg 12th Exhibition to be held between 6 -8 of next June will discuss issues related to the globalization of markets and protecting the national economic interests.


- The Saudi company for collective transportation has said that the Saudi cabinet agreed on extending the period of the deal concluded between it and the government for five years.
- The Saudi National Manufacturing company has said that one of its companies affiliated by it and owned by 66%, under the name of Crital has come up with a proposal for acquiring completely Bemax company in Australia.

Indicators is a daily economic watch newsletter about the Near East, issued by New Orient News agency in Beirut, Lebanon. It is available on in Arabic, English and Spanish. Also worth a read is Tendencies, the daily Near East political watch newsletter, available in Arabic, English, French, German, and Spanish languages.