Economic News (16 July 2009)
Posted by Joshua on Thursday, July 16th, 2009
All4Syria explains who the members of the new National Security Council are. All are the usual suspects so far.
In the second news story, Ibrahim Hamidi explains Syria’s strategic plan to become a major entrepot and gas and oil link tying together the four seas: the Mediterranean, Black Sea, Caspian and the Arab Gulf.
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?????? ?????? ?????? ?? ?????? ???? ????? ???????? ?? ???? ????? ?????? ?? ????? ?????? ??? ????? ???????. ?? ??? ?????? ????? ???? ???? ??????? ?????? ????????? ??? ????? «????? ????????? ??? ?????? ??????? ???? ??????? ??? ???? ???? ??????? ?? ?????? ????? ?????? ???????? ?????? ???????? ???? ???? ??? ?????? ?????? ??????? ??????? ?????? ??????? ???? ????? ??????»? ?????? ??? «???? ??? ??? ????? ????????? ????????? ??????? ??? ????? ??? ?? ????? ????????? ?????? ??????? ???? ???? ??????? ???????? ??? ?????????? ???????? ???????? !
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????? ???????? ???????? ?? ?????? ??????? ???? ???? ??? ????? ??? ?? ??? ????? ??? ????? ??????? ??????? ??? «???? ????? ???????» ?? ???? ?????? ???? ?? ??? ?????? ??????????? ?? ????? ??????? ?????. ??????? ????? ???? ??????? 50 ????? ??????????? ?????? ?????? ??????? ??? ??? 2015. ??? ?? ?????? ??????????? ???????? ???? 132 ????? ????? (????? 77 ??????? ?? ?????? ?????) ?????? ???? ??? ???? 8 ?? ????? ??? ????? ???????? ???????. ?? ???????? ???? ???? ?????? ?????? ????????? 74 ????? ????? ?????? ???? ?????? ?????? ????. ??? ???? ????????? ???!
??? ?? ????? ??????? ??? ???? ??? ??? ????????? ???? ???? ????? ???????? ?? 1994 ??????? ?? 13 ???? ????? ???????? ????? ?????? ?????? ?? ???? ???? ?? ?????? ??????? ?? ?????? ???? ??? ???? ???? ???? ??????? ?????????. ??? 2006? ??? ????? ????? ??? ?? ??? ?????? ?? ???? ??? ?????? (??????? ????????) ??? ????? ????? ??????? ????? ??? ??? 50 ????? ?? ?? ????? ????? ??????. ??? ??? ?? ????? ??? ????? ???? ?? ????? ??? ??? 296 ????? ??? ???? ?????? ???? ??? ????? ?????????.
????? ?????? ??????? ???? ????? ?????? ????? ?????? ??? ????? ???? ??? ???? 31 ?? ????? ?? ??? 2006 ???? ??? ????? ?? ???????? ??? 59 ?? ????? ?? ???????? ?????????. ??? ??? ?????? ?????? ???? ????? «????? ????? ???????» ???? ??????????? ?? ???????? ??????? ????? ??????? ??? ?????? ?????. ?????? ?? ??? ?? ??? ?????? ?????? ????? ????? ??? 36 ??????? ?? ????? ??????? ???? ?? ????????? ??? ??????? ????????? ??????? ???????.
??? ??? ?????? ???????? ??? ??????? ??????? ??? ????? ??????? ??? ?????? ???????. ???? ????? ??? ?? ????: «????? ????? ???? ?????? ?????? ???? ????? ????? ????? ??? ????? ?????? ?? ????? ?????? ????? ???? ????? ??? ??? ??????? ???? ??? ?????????? ??? ????? ????? ???? ???? ??? ??? ????? ?? ????? ?? ???? ????? ?????? ?????? ??????».
DJ Damascus Stock Market Delays Decision On Adding Trading Day
2009-07-14
DUBAI (Zawya Dow Jones)–Syria’s recently launched stock market, which is currently open for trading two days a week, has delayed a decision to open on a third day due to low trading volumes, its executive director said.
“The board decided to postpone discussing this issue, given that trading volumes are still weak,” Mohammed Jleylati told Zawya Dow Jones by telephone late Monday.
“It may be posed for discussion again in a month or so, or later, but we haven’t discussed it yet in any final form,” he said.
Syrian banks hold between 100 billion Syrian pounds ($2.1 billion) and SYP150 billion in deposits, some of which is likely to start being invested in the stock market, Jleylati said.
“We expect that bank deposits will be withdrawn and used in the market or in the listing of companies,” he said.
The Damascus Securities Exchange – which opened in March with six listed company – now has 11 companies listed. Trade is carried out every Monday and Thursday between 11 a.m. and 1 p.m. local time.
Comments (9)
Alex said:
Syria is the downtown of the Middle East.
Energy, trade, culture and regional politics should intersect, naturally and efficiently, in Syria.
American sanctions and cyclical attempts to isolate Syria, Israeli hostilities in the region, and corruption inside Syria are preventing Syria from fully benefiting from its central presence.
Things are bound to change … In less than a decade Syria will play its natural role, unconstrained.
July 16th, 2009, 5:48 pm
Alex said:
Damascus Museum among the world’s top ten
http://www.dailymail.co.uk/travel/article-1197889/The-museums-the-world-best-rest-.html?ITO=1490
The National Museum of Syria, Damascus
Roman Statue in the National Museum
Treasure trove: Roman, Byzantine and Arab Islamic collections sit side by side in the museum
For the sheer volume of artifacts displayed, Syria’s national museum deserves a place in the top ten. Located in the oldest continually inhabited city in the world the museum certainly equals its surroundings with its two wings hosting Arab Islamic, Classical and Byzantine collections. Many of the most important finds from excavations throughout Syria are on display here and the collection begins even before you enter. The facade of the building incorporates the transplanted gateway of Qasr al-Heir al Gharbi, a desert castle near Palmyra. Visitors can see clay tablets of the oldest alphabet in the world, the Ugaritic Alphabet and ivory, bronze and marble classical statues found at the many archeological sites throughout the country.
Star attraction
By far the most popular part of the museum is the reconstructed 2nd-century AD Synagogue, with walls that are covered with Talmudic laws and scenes from the scriptures.
July 16th, 2009, 5:51 pm
Alex said:
(XIN) Lebanese Druze leader calls for opening new page with
2009-07-16 11:40:49.758 GMT
BEIRUT, Jul 16, 2009 (Xinhua via COMTEX) — Lebanese Druze majority leader Walid Joumblat said that the political and geographical fate of Lebanon lies in the hands of Syria, his remarks were published in an interview with local daily Nahar Al-Shabab annex Thursday.
In a significant turn around of his previous political stands, Joumblat called for opening a new page with Syria, hinting to the possibility of visiting Damascus soon.
“The Syrian army withdrew from Lebanon ending 30 years of military presence, so why do we always have to refer to the past,” Joumblat said.
“We want normal relations with Syria, and we want Hariri to visit Syria in his capacity as Prime Minister,” Joumblat said.
From 2005 until recently this year following the parliamentary elections on June 7, Joumblat had been calling for overthrowing the Syrian regime which he described as the “regime of criminals.”
July 16th, 2009, 5:57 pm
Nour said:
Alex,
It’s good that the Syrian national Museum is getting recognition, but on the other hand this is part of the deliberate concealing of our history. The Museum contains “Roman, Byzantine, and Arab Islamic artifacts.” In other words, there is no real Syrian history; it’s the history of other peoples on this land. Yet we all know this is not true. We have a rich history, displayed in the museum, which traces the beginning of civilization in Syria and its export to the rest of the world. And of course, finally, the most popular part of the museum, according to the Daily Mail, is the 2nd Century AD Synagogue, because this is all that is really important in our history. Everything we’ve contributed to human civilization throughout the ages is not very interesting to British critics, but give them “talmudic scriptures,” and they will jump for joy.
July 16th, 2009, 7:47 pm
Majhool said:
These are good news coming from Syria. I agree with Alex’s first statement: “Energy, trade, culture and regional politics should intersect, naturally and efficiently, in Syria”
Indeed this is our natural role.
As for the second statement: “American sanctions and cyclical attempts to isolate Syria, Israeli hostilities in the region, and corruption inside Syria are preventing Syria from fully benefiting from its central presence”
This only partially true. Adding to the list is Syria’s political choices and of course the root cause of most ills which is lack of freedoms in Syria and the control of security apparatus over the country.
No real reform is possible without addressing these too.
Fighting corruption is an old cliché that has been used for more than 40 years.
Elect a real parliament and allow for freedom of press and Syria would shoot into a better future.
July 16th, 2009, 9:33 pm
jad said:
This is my comment on the article couple days ago and still stands:
(I personally think that this is a good, original, futuristic thoughts and a step forward to market Syria as the main hub in the region when it comes to energy but my concerns would be the environment since creating a node as huge as they want means using all our natural resources and that all economical related decisions will become a powerful tool in the hands of the system that we (as citizens and PM) wont have any power to challenge when the environment becomes the victim and it will be used against any dispute and as the usual famous Syrian phrases (are you against the development?) or (how dare you?) or (do you know who are you talking to and being against?) I would love to read Ehsani’s take on such idea:)
________
I agree with Majhool about the freedom and I add that to get to that prominent position they are marketing we need a socially advanced, well educated, very professional, corruption ‘minimum’ (since there is no corruption free society) and a strong free society without the fear of speaking their mind and being professionaly creative, otherwise it will stay just a dream like all other dreams they promote and to be frank I’m doubtful for any improvement without the will and I’m almost sure that this government is not prepared for the job.
July 17th, 2009, 12:05 am
Majhool said:
Well what can I say Jad. We are in agreement AGAIN.
July 17th, 2009, 3:12 am
Alex said:
Jad,
Ehsani is traveling .. he won’t be able to check SC much for the next two to three weeks.
Majhool,
Fighting corruption properly requires serious reforms (Legal and other) … it is not an old cliché
July 17th, 2009, 5:04 pm
Alex said:
Opening to Tourism, Syria Flaunts Hidden Treasures
http://abcnews.go.com/US/wireStory?id=8105074
By Khaled Yacoub
Reuters
DAMASCUS
Iranian pilgrims pray beside Arabs at the 8th-century Umayyad Mosque, one of Islam’s grandest sites. Down a nearby alley, European tourists watch restoration work at an Ottoman-era palace being converted into a hotel.
“I’ve not seen such contrast between image and the reality,” said German tourist Anna Kopola, looking at Syrian art on display in a gallery in the capital, Damascus. “Syria is portrayed as a center of terrorism in the West but it’s peaceful and modern.”
While tourists have long traveled to see Egypt’s pyramids, tense ties with the West made Syria a no-go zone for decades.
Few have heard of the magnificent ruins at Dura Europos, a Greco-Roman city dubbed the Pompeii of the desert, or Krak des Chevaliers, among the world’s greatest Crusader castles.
But a rapprochement with the West — Syria this month invited U.S. President Barack Obama to Damascus for talks — and the gradual liberalization of an economy that long shunned foreign input are helping Syria shed its pariah state image.
“Nicolas Sarkozy’s visit last year was a boost,” Antoine Mamarbachi, a tour operator said of the French president.
“Syria is no longer a persona non grata.”
Tourist numbers rose 15 percent last year and Tourism Minister Saadallah Agha al-Qalaa expects 40,000 new hotel beds to become available in the next three years, up from 48,000 now.
Demand has grown so fast, he said, that Syrian tourism may escape the impact of the global downturn that has hit the sector worldwide. Tourism already accounts for 13 percent of Syria’s gross domestic product and will only become more important as the Arab country’s dwindling oil production falls further.
Syria has so far tended to attract visitors from other parts of the Middle East, who are less perturbed by its image and more interested in its beach resorts. Two-thirds of visitors last year were Arab, but promotional campaigns by the state and tour operators over the last year have targeted high-end Europeans.
NEW CHAPTER IN RICH HISTORY?
As the East-West crossroads of the ancient world, Syria has been a trade hub for centuries, attracting European adventurers from Lawrence of Arabia to Freya Stark.
Dura Europos, the ruined walled city above the banks of the Euphrates, produced early examples of Judaic and Christian art. The Umayyad dynasty made Damascus the capital of a Muslim empire that stretched to Spain.
Legend has it that two heads are buried beneath the Ummayad Mosque — those of John the Baptist and Imam Hussein, an early Islamic figure whose killing in 680 AD cemented Shi’ite-Sunni splits.
But Syria’s modern history has been dominated by its struggle with Israel and Soviet-style policies since the Baath Party’s 1963 coup that reduced it to an economic backwater.
The United States imposed sanctions on Syria in 2004 and the government faces two United Nations investigations, although tensions have eased in recent months and Washington said in June it would appoint an ambassador to Damascus after a four-year hiatus.
“The business environment in Syria is still poorer than its neighbors, but this is a virgin market and the fact that so many investors are coming shows that the risk is worth taking,” said Jihad Yazigi, editor of the Syria Report online newsletter.
Only in the past decade has Syria eased restrictions on foreign exchange and banking and allowed companies to transfer profits abroad. But it remains among the world’s hardest places to do business, according to World Economic Forum study.
Courts lack safeguards against political interference and the workforce lacks language skills and training. Yet the risks have not put off investors from the oil-exporting Gulf.
Qatari Diyar, a real estate company owned by the Qatar Investment Authority, is building a $350 million resort on the Mediterranean coast. Kuwait’s Kharafi group is building a 361-room hotel in Damascus. Global hotel brands including Movenpick, Kempinski and Holiday Inn also plan developments.
“Syria is a bargain, although it needs to develop its infrastructure,” said Kuwaiti businessman Abdul Hameed Dashti.
SWEEP OF HISTORY
In the covered souqs of Old Damascus, Western tourists now shop for Syrian kilims and amble from the tomb of the Mamluk ruler Baibars to courtyard houses-turned-boutique hotels.
Gone are the days when a visitor could wander through the ruins of Palmyra, a classical city that rises like a mirage from the eastern desert, without encountering another soul.
“Syria needs to do more preservation. I was in Lebanon and the level of indiscriminate construction made me never want to go back,” said Swiss tourist Roland Diethelm, who was having a drink on a hotel terrace overlooking the ruins at Palmyra.
Repeated wars have left scars on Syria’s neighbor Lebanon but those tourists who do make the journey often combine it with a short drive to Damascus.
Construction across Syria has been chaotic but investors are taking increasing care to preserve the character of Old Damascus and Aleppo, realizing that this is what many Europeans crave.
Opened a year ago, Beit Zaman hotel is a painstakingly restored 300-year-old courtyard house located on Damascus’ Roman-era Straight Street, which is mentioned in the Bible.
The hotel now hosts luxury tourists and special events.
“Our customers appreciate the restoration work we have done and the feel of Old Damascus,” said Beit Zaman spokeswoman Solar Arissian. “It took some time, but we are seeing more competition and efforts to promote Syria that are attracting more tourists.”
(Editing by Lin Noueihed and Sara Ledwith)
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July 17th, 2009, 5:06 pm
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