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Syria launches first stock exchange
Syria launched its first stock exchange on Tuesday after three years of delay and in the midst of a worldwide financial crisis, in the latest step to liberalize the country's largely state-controlled economy. Finance Minister Mohammed al-Hussein rang the trading bell at a formal launch ceremony for the Damascus Securities Exchange, which will be open for trading two days a week and currently includes six companies. Although it began trial operations in late January, its official inauguration Tuesday marked the culmination of a decree issued in October 2006 by president Bashar al-Assad to establish the bourse as part of the government's move to a market economy. Posted by: Fred 2009-03-11 |
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