The International Monetory Fund (IMF) has estimated the United Arab Emirates’ average economic growth at 3.6 percent for 2014, and forecasts 3.2 percent in 2015. Despite lower oil prices, sluggish global growth, and volatility regional markets, the UAE remains one of the fastest growing economies in the world with strong non-oil economy growth of 4.8 percent (2014). According to the ...

Global business aviation services company Gama Aviation plc has announced that it has cut basic handling rates for its fixed base operation (FBO) at Sharjah International Airport by 20 percent following a global review of its operations. The reduction in handling rates ensures that the company’s Sharjah hub is highly competitive when compared to similar offerings in Dubai and other ...

Sharjah Investment and Development Authority (Shurooq), the Sharjah government authority responsible for positioning the Emirate as a tourism and investment hub, today reconfirmed its commitment to employing the highest sustainability and energy reduction standards in all of its current and future projects. Shurooq has been at the forefront of energy preservation since it was established in 2009, having switched all ...

Bank of Sharjah P.J.S.C. (BOS:ADX) has announced a 16 percent increase in net profit during the first six months of 2015, with net profit reaching AED 176 million (US$ 48m) compared with AED 152 million (US$ 41m) during the same period last year. Strong growth in loans and advances contributed to growth, while boosting bank liquidity and capital. Loans and ...

Sharjah hotels and resorts registered one million guests during the first half of 2015, according to the Sharjah Commerce and Tourism Development Authority (SCTDA), consistent with last year’s statistics. Last year saw approximately two million tourists visit Sharjah throughout the year and the emirate aims to attract 10 million tourist per year by 2021. Sharjah offers more than 100 hotels and ...

Sharjah’s east coast Khorfakkan Port has been ranked in the top ten most productive ports in the world, according to the 2014 JOC Port Productivity report. The Journal of Commerce compiled the report based on data gathered about 483 terminals and 771 ports from ocean freight carriers representing more than 75 percent of global capacity. All ports listed in the ...

Sharjah-based process equipment manufacturer Quality International, has shipped its third massive Multi Effect Distillation (MED) evaporator unit to Kuwait for the first phase of the Az-Zour North Independent Water & Power Project, one of the largest power and water production projects in the Middle East. According to the manufacturer, the MED Evaporators for the project are the largest of their ...

His Highness Dr. Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member, Ruler of Sharjah, today announced that Sharjah Investment and Development Authority (Shurooq) is set to develop the Al Hisn Island, a leisure and tourist attraction located in Dibba Al Hisn. Overlooking the Indian Ocean, the project is located on a reclaimed island that was built as a residential ...

The UAE’s Council of Small and Medium-Sized Enterprises and Projects is in the final stages of formation and will soon begin implementing programmes to grow and develop the small and medium-sized enterprise (SME) sector. SMEs have been identified as critical for the economic and social development of emerging markets, playing a major role in creating jobs, developing economic growth, and ...

Sharjah has been recognised by the World Health Organisation (WHO) as the Middle East’s first Healthy City, as a result of the city meeting a wide range of criteria set by the WHO Healthy Cities programme. The programme engages local governments in health development in an effort to prioritise health on the social, economic and political agenda. The WHO Healthy ...