Economy

Syria Times

Published by Teshreen Press and Publishing Foundation

Last Update in: 10:24:16 Day: 07/05/2008 [-4 h GMT]

Mrs. Asmaa al-Assad briefed on WLAR-Syria winning projects Hits: 28 Reem Azzam, a student from the Hassaka governorate, has benefited from World Links Arab Region (WLAR) program in Syria (integrating technology into education), together with 100,000 other students across 300 schools, who received training from 100 trainers and 1,500 qualified teachers. ...Full text

Oil price strikes new record high at 122 dollars Hits: 25 Oil prices hit a record high 122 dollars here on Tuesday as the market was driven by concerns over violence in key producer Nigeria and a struggling US currency, analysts said. ...Full text

Buildex 2008 to witness significant national and international participation Hits: 29 With the vast participation of local, Arab and foreign companies working in the different domains of construction, Damascus Fair Ground will host the 14th International Building Exhibition, Buildex 2008, set to be held between May 12th and 16th....Full text

Hotel rooms in UAE could triple to 180,000 by 2015 Hits: 26 The hotel inventory in the UAE - the biggest tourism market in the Gulf - is expected to triple to 180,000 rooms by 2015 from 60,000 currently, according to available statistics, while room shortage is pushing rates up making Dubai, the country`s commercial capital, one of the most expensive in the world....Full text

Indonesia considers quitting OPEC as output falls Hits: 25 Indonesia said on Tuesday it may quit the Organization of the Petroleum Exporting Countries, citing a decline in crude oil output that has reduced its influence in the cartel....Full text

U.S. in "awfully pale recession," Greenspan quoted Hits: 27 The United States has fallen into an "awfully pale recession" and may remain stagnant for the rest of the year, former Federal Reserve chairman Alan Greenspan was quoted on Monday saying. ...Full text

Syria`s location ideal for export of gas and oil products to Europe Hits: 89
Syria enjoys a strategic position in the heart of the Middle East and is regarded as the link of three continents: Europe, Asia and Africa. The country`s open position and its geographical location at the eastern end of the Mediterranean Sea provides its with an ideal channel to export refined oil and gas products to Europe via its northern neighbour Turkey....Full text

Salary increase in Syria doubles in 7 years Hits: 65
The issuance of two legislative decrees no 24 and no 25 for the year 2008 stipulating a 25% monthly pay rise in wages and salaries for workers and old age pensioners of the state has come in the framework of president Bashar Al Assad`s interest to increase citizens` living conditions and his care to improve their economic situation .The past seven years have witnessed raises in salaries that exceeded 100 percent....Full text

Adra Free Zone`s Expansion Project Hits: 51 The Adra Free Zone Expansion Project has been launched thanks to an initiative by the General Establishment for Free Zones. The plan is essentially based on integration between the public and private sectors....Full text

Cordoba Hills completes 80% of infrastructure Hits: 43 The most dynamic residential real estate project in Aleppo & Syria takes shape, boosted by an accelerated work schedule....Full text

Japan warns rising food prices could lead to unrest in Asia Hits: 42 Soaring prices for food staples, especially for rice which have tripled over the past year, could lead to social unrest in Asia, Japanese Finance Minister Fukushiro Nukaga warned Sunday in Spain. ...Full text

Rents in Abu Dhabi climb 17% Hits: 41 Rents in Abu Dhabi soared 17 per cent in the first quarter, compared to the year-earlier period, according to a study by the Department of Planning and Economy (DPE)....Full text

ECB to stay on high alert until inflation fades: analysts Hits: 40 The European Central Bank will stay on high alert for many more months while keeping its main lending rates stable, analysts believe, as inflation poses a bigger threat than signs of an impending slowdown in the 15-nation eurozone economy. ...Full text

Tourism Investment Market Forum offers projects with encouraging terms Hits: 65 The 4th Tourism Investment Market Forum wrapped up Thursday at the Meridien Hotel in Damascus, where the impact of tourist investment on the Syrian economy headlined as one of the most important topics discussed....Full text

Yemen set to join Syrian-Jordanian Navigation Co Hits: 72 Interment Monitoring the Yemens Transport Minister Khalid Ibrahim said yesterday that his country is studying possibility of joining the Syrian Jordanian Navigation company as a third partner....Full text

Training course on consumer protection Hits: 68 The Directorate for Consumer Protection affiliated to the ministry of Economy and Foreign Trade, in cooperation with the Institutional and Sectorial Modernisation Enterprise (ISME) recently held a training course regarding consumer protectionin Damascus....Full text

IMF gathers 25 nations to develop sovereign fund guidelines Hits: 50 The International Monetary Fund Thursday gathered 25 of its member states to develop guidelines for state-controlled sovereign wealth funds, whose skyrocketing foreign investments are raising concerns about political motivations. ...Full text

Saudi cuts reverse repo, keeps repo steady after Fed Hits: 50 Saudi Arabia, which pegs its riyal currency to the dollar, cut its reverse repurchase rate by 25 basis points on Saturday following a U.S. rate cut, but continued a policy of keeping its benchmark lending rate steady....Full text