Syria to re-open stock market starting June 2, finance minister says
CAIRO, May 27 (Reuters) - Syria is set to re-open its stock market starting June 2, the state news agency SANA reported on Tuesday, citing Finance Minister Yisr Barnieh.
Syria's stock market stopped trading on December 5, SANA said, citing the need to assess the operational and financing status of contributing companies.
In December, rebels ousted former President Bashar al-Assad.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Mail
an hour ago
- Daily Mail
Procter & Gamble announces mass layoffs
Procter & Gamble has announced it will slash 7,000 jobs as consumer's pullback amid economic uncertainty. The maker of Gillette shaving products and Tide laundry pods revealed the 15 percent cut to its workforce on Thursday. In April the group said a 'more nervous consumer reducing consumption' meant they had to lower sales and profit guidance for the year. As well as cutting jobs P&G will divest a number of its businesses and restructure the organization, chief financial officer Andre Schulten (pictured) said at a conference on Thursday. Part of this reorgantzaion will involve more automation and digitization, as well as cutting down management teams. P&G has tried to stress to investors that the layoffs and restructuring are not simply a reactive measure to recent market turmoil. However, Schulten admitted that heightened geopolitical tension particularly in the Middle East, Ukraine and Russia combined with Trump's trade policies are weighing on consumers. It comes after P&G said it would look at raising prices to pass on the impact of tariffs on to consumers. Net sales for the group fell two percent in the first three months of the year, a bigger drop than expected. P&G is not alone in trying to manage its workforce with a major jobs report released yesterday revealing that hiring has slowed nationally. US private payrolls increased far less than expected in May, the ADP National Employment Report showed - a new potential warning sign for the direction of the US economy. The US economy will be among the hardest hit with growth slowing from 2.8 percent in 2004 to just 1.6 percent this year, according to the group's new forecasts. The Paris-based organization also predicted that Trump's tariffs will hit the global economy harder than expected, slashing its growth forecast for the year down to 2.9 percent compared to 3.3 percent last year.
Reuters
an hour ago
- Reuters
Israeli Finance Minister says banks should not obey EU sanctions on settlers
JERUSALEM, June 5 (Reuters) - Israel's Finance Minister Bezalel Smotrich on Thursday condemned the country's banks that have refused to provide services to Israeli settlers sanctioned by the European Union and warned they may have to pay compensation to them. The EU last year imposed sanctions on five Israeli settlers for violence against Palestinians and Smotrich said there were reports of sanctions being considered against other settlers. But in a letter to the banking supervisor, he said Israeli banks should not follow a "zero risk" policy since it leads to the abandonment of Israeli clients "under the guise of compliance with foreign sanctions." In a statement quoting his letter to the regulator, Smotrich called on banks to use their legal, economic, and international strength to fight "unjust sanctions". "The banks' enormous profits enable them to take measured risks on behalf of their clients — especially when it comes to a national moral injustice," Smotrich, who leads the far-right Religious Zionism party, said. Should banks continue to comply with sanctions and harm clients, Smotrich said he intended to promote immediate legislation that would require banks to pay substantial compensation to affected customers. He also intends to require the Bank of Israel itself to offer banking services to citizens targeted by sanctions. Responding to the letter, the Bank of Israel said that while banks must comply with international sanctions to avoid an array of risks, a draft directive it published on Thursday aimed to ensure appropriate banking services were available for the affected customers. "Circumventing foreign sanctions regimes through the Israeli banking system exposes banking corporations to multiple risks, including compliance risks, anti-money laundering and counter-terror financing risks, legal risks, and reputational risks," the central bank said. But it said it has taken steps to comply with sanctions "without banks resorting to blanket refusals to serve such customers." While the sanctions in question concern Israeli settlers, the EU is reviewing its broad pact governing its political and economic ties with Israel in the face of mounting international pressure on Israel amid complaints about the lack of humanitarian aid reaching Gaza in the wake of the war triggered by Hamas' Oct. 7, 2023 attack.
The Independent
2 hours ago
- The Independent
Airlines left with fewer flight routes as global conflict zones expand
Airlines are facing increased operational and financial burdens due to the rise in global conflict zones, including threats from missiles and airspace closures. Airspace closures around Russia, Ukraine, the Middle East, and parts of Africa are forcing airlines into expensive, last-minute re-routings. The Israeli-Palestinian conflict and drone activity near Russian airports have led to commercial flights sharing airspace with potential hazards, raising safety concerns. The downing of an Azerbaijan Airlines flight in Kazakhstan and a cargo plane in Sudan highlights the worst-case scenario of aircraft being hit by weaponry, prompting calls for better information sharing between governments. IATA emphasises the need for urgent global coordination to address conflict zone risks, as airlines navigate a patchwork of government notices and security advice, with flight crews retaining the right to refuse flights over unsafe airspace.
