Download - FEAS

More documents

Recommendations

Info

FEDERATION OF EURO-ASIAN STOCK EXCHANGES ANNUAL REPORT APRIL 2011 DAMASCUS SECURITIES EXCHANGE OFFICIAL 6 MONTH STATISTICS US$ millions # Shares millions Total Volume Average Daily Volume Total Volume Average Daily Volume Stocks Jul-10 9.4879 0.5581 0.3183 0.0187 Aug-10 17.5558 0.9753 0.6821 0.0379 Sep-10 30.9683 1.9355 0.6821 0.0426 Oct-10 22.3401 1.3963 0.6947 0.0434 Nov-10 15.7659 1.1261 0.5829 0.0416 Dec-10 0.7135 0.0446 17.7434 1.109 TOTAL 96.83 1.01 20.70 0.22 Bonds Jul-10 0.00 0.00 0.00 0.00 Aug-10 0.00 0.00 0.00 0.00 Sep-10 0.00 0.00 0.00 0.00 Oct-10 0.00 0.00 0.00 0.00 Nov-10 0.00 0.00 0.00 0.00 Dec-10 0.00 0.00 0.00 0.00 TOTAL 0.00 0.00 0.00 0.00 Other Jul-10 0.00 0.00 0.00 0.00 Aug-10 0.00 0.00 0.00 0.00 Sep-10 0.00 0.00 0.00 0.00 Oct-10 0.00 0.00 0.00 0.00 Nov-10 0.00 0.00 0.00 0.00 Dec-10 0.00 0.00 0.00 0.00 TOTAL 0.00 0.00 0.00 0.00 Market Capitalization (US$ millions) Index MONTHLY STOCK VOLUME VS INDEX (US$ millions) Stocks Index MONTHLY MARKET CAPITALIZATION (US$ millions) Jul-10 2,308.37 1,469.27 Aug-10 2,491.07 1,561.91 Sep-10 2,755.61 1,661.77 Oct-10 2,876.47 1,772.64 Nov-10 2,912.25 1,645.28 Dec-10 3,138.17 1,719.04 CONTACT INFORMATION 35 30 25 20 15 10 5 0 1,800 3,500 1,600 3,000 1,400 1,200 2,500 1,000 2,000 800 1,500 600 400 1,000 200 500 0 0 Jul Aug Sep Oct Nov Dec Jul Aug Sep Oct Nov Dec Contact Name Lubano Abdo E-mail labdo@dse.sy Website www.dse.sy PAGE 58
FEDERATION OF EURO-ASIAN STOCK EXCHANGES ANNUAL REPORT APRIL 2011 DAMASCUS SECURITIES EXCHANGE ECONOMIC AND POLITICAL DEVELOPMENTS Political Outlook A reflection to Syria’s economic development in 2010 will show a determination economy, willing to plan and execute sustainable progress, in its multiple dimensions. Touching on the various aspects revolving in and around the economy, the Syrian internal and external mechanisms are drawing clear plans to encourage public, private, and co-operations, in enhancing the economic performance for the coming years. The public and private sectors are working on multiple fronts to set a productive base across Syria’s key economic drivers. Through various mechanisms as fiscal, monetary, social, and technological policies, decision makers at different levels are tackling the progress of investment frameworks, business environments, trade agreements and political relations. Economic performance On a country-wide level, Syria’s economy in 2010 indicated an expected 5% real GDP growth, with an additional 0.5% increase through 2011, as per the International Monetary Fund (IMF). Projected indicators had shown nominal GDP standing at 59.6 billion USD at end of 2010, with an expected increase of 6.6 billion USD throughout 2011, to reach a total 66 billion USD. Meanwhile, the consumer price level remained at a moderate 5% and is expected to remain as is through 2011. Unemployment continued to show concern as it stood at almost 11%. Furthermore, the overall fiscal deficit is expected at 2.6 billion USD for 2010, accounting for a smaller share of GDP compared to 2009, namely 4.3% versus 5.4%, respectively. The higher revenue in oil revenues and reduction in fuel subsidies were the main drivers to fiscal adjustments. Moreover, the government budget is expecting a spending of 17.8 billion USD, representing a 12% rise that is mostly represented by investment expenditures. The Oil & Gas sector, and despite an average decline of 4.1% per annum in oil GDP’s real growth, the oil sector was estimated to grow 0.2% in real terms during 2010. This growth remains small despite government efforts to attract foreign investments for new exploration and production. Nevertheless, crude oil production has risen 3.1% yearly on average, reaching 387,357 barrels per day in the third quarter of 2010. The production at new and smaller fields outweighs the dwindling productions of mature sites; however, this is only a temporary situation. Meanwhile, gas production is on a priority list as multiple co operations are in the pipeline to increase production and export lines with strategic trade partners. The Construction & Real Estate sector has attracted huge attention on the economic map. The lack of supply, low real interest rates, lack of proper investment opportunities, and rising cash flows from Gulf investors and Iraqi immigrants have all contributed to a sharp increase in the price of real estate properties. Consequently, major developers have taken initiative to build large commercial and residential spaces in both urban and rural areas. Accordingly, the trend has reversed with light price adjustments in the last eighteen months. The Trade & Services sector marked strong activity through 2010. The number of visitors reached 6.6 million through September, noting an increase of 46% year-on-year. Tourist expenditures reached 6.5 billion USD within the abovementioned period, and the industry as a whole contributed to 5.2% of GDP. In addition, the telecom sub-sector has been run by two large operators that have contributed to a 42% in mobile subscribers, while the landline network increased subscribers by 6.6% as of end 2009. Currently, six companies are bidding to take a pie of the sector’s success that is about to accommodate a third operator. The Financial sector has witnessed various incentives in attracting funds and increasing lending volumes. In spite of the effects of the crisis on remittances and FDI, the Syrian financial sector has been supported by lower reserve requirements, lower interest rates, and increased credit exposure limits. The money supply expanded 12% year-on-year in July 2010, and has moved in line with GDP growth. The last quarter of 2010 saw the first sale of government bonds. While the financial sector has made an outstanding growth in terms of assets, deposits, and credit, the financial community awaits the introduction of more financial instruments and better allocation mechanisms to the sector’s excess liquidity. The Syrian capital market currently stands at an average daily trading value of 43 million SP and an average daily trading volume of 34 thousand shares. The market index posted an approximate 71.9% gain in 2010. It is currently composed of 20 companies listed within 5 sectors, namely, Banking, Insurance, Service, Industrial, and Agricultural. The Banking sector holds the highest market capitalization at 131 billion SP, out of a total 144 billion SP. The market is currently receiving coverage by 12 financial brokerage companies. In retrospect, the Syrian economy in 2010 continued to show strength through multiple key sectors. Despite multiple drawbacks resulting from a world crisis recovery, regional slowdown in investments, and difficulties of moving into an open market economy, the Syrian economy and its key decision- makers are showing resilience in creating stability and progress in increasing the performance of internal & external economic indicators. Looking forward onto the development 7 execution of Syria’s 5-year plan, the targets set for infrastructure and investment planning are providing solid confidence for local, regional, and international participants. Information obtained from the Exchange. Key Information Contacts Damascus Securities Exchange www.dse.sy PAGE 59
Page 1:
FEDERATION OF EURO-ASIAN STOCK EXCH
Page 4 and 5:
Page 6 and 7:
Page 8 and 9:
Page 10 and 11: FEDERATION OF EURO-ASIAN STOCK EXCH
Page 16: FEDERATION OF EURO-ASIAN STOCK EXCH
Page 111 and 112:
Page 113 and 114:
Page 115 and 116:
Page 117 and 118:
Page 119 and 120:
Page 121 and 122:
Page 123 and 124:
Page 125 and 126:
Page 127 and 128:
Page 129 and 130:
Page 131 and 132:
Page 133 and 134:
Page 135 and 136:
Page 137 and 138:
Page 139 and 140:
Page 141 and 142:
Page 143 and 144:
Page 145 and 146:
Page 147 and 148:
Page 149 and 150:
Page 151 and 152:
Page 153 and 154:
Page 155 and 156:
Page 157 and 158:
Page 159 and 160:
Page 161 and 162:
Page 163 and 164:
Page 165 and 166:
Page 167 and 168:
Page 169 and 170:
Page 171 and 172:
Page 173 and 174:
Page 175 and 176:
Page 177 and 178:
show all

Download - FEAS

Create successful ePaper yourself

Delete template?

Save as template?