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Syria’s stock market stops trades of Rami Makhlouf’s telecom company

The company, owned by President Bashar al-Assad's embattled cousin, has been suspended from the exchange indefinitely.
People walk past the looted premises of cellphone company Syriatel, which is owned by Rami Makhlouf, the cousin of Syria's President Bashar al-Assad, in Deraa March 21, 2011. Unrest spread in southern Syria on Monday with hundreds of people demonstrating against the government after five civilians were killed in protests in the city of Deraa over the past four days.REUTERS/Khaled al-Hariri (SYRIA - Tags: POLITICS CIVIL UNREST BUSINESS) - GM1E73M07IA01

Syria’s stock market announced today that it would stop trading shares of Syriatel, the country’s largest telecommunications company, which is owned by Bashar al-Assad’s embattled cousin Rami Makhlouf.

Syria’s Commission of Financial Markets said the suspension would last indefinitely and was designed to protect shareholders, The Associated Press reported.

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