Business

Sharjah-headquartered terminal operator Gulftainer has reported that the Sharjah Container Terminal (SCT) handled 400,000 TEUs (20-foot equivalent units) during 2014, recording double-digit growth compared to previous year’s volumes. SCT is managed and operated by Gulftainer on behalf of the Sharjah Port Authority. The terminal operator credited the arrival of new services throughout the year with boosting throughput, including UASC’s Gulf India ...

Sharjah-headquartered budget carrier Air Arabia (AIRARABI:DFM) has announced plans to open a new international hub at Amman Queen Alia International Airport in Jordan following its acquisition of a 49 percent stake in Petra Airlines. Air Arabia, which is the first and largest low-cost carrier (LCC) in the Middle East and North Africa, already has hubs in Alexandria (Egypt), Casablanca (Morocco), ...

The Sharjah Investment and Development Authority (Shurooq) took Sharjah’s investment proposition to India this month as part of a four-day trade mission organised by the UAE Chambers of Commerce and Industry. Bilateral trade between the UAE and India stood at around US$59.5 billion (AED 219b) for India’s financial year 2013-2014 (1 April 2014 to 31 March 2015), with the Emirates ...

Bilateral trade between the emirate of Sharjah and China could grow by 11 percent during 2014 to reach US$5 billion (AED 18b) according to Sultan Abdullah bin Hadda Al Suwaidi, Chairman of Sharjah Economic Development Department (SEDD). Trade between Sharjah and China has grown sharply over the past few years, and is already five times the level of trade in ...

Sharjah is fast developing as centre for halal food, a global market worth US$2 trillion (AED 7.3t) worldwide. Global food producers converged on Sharjah earlier this month to meet with buyers from the Middle East and North African and the Indian sub-continent at the third annual OIC (Organisation of Islamic Cooperation) Halal Congress. A wide variety of halal food producers ...

Lord Peter Mandelson, former British Labour Party politician and the European Commissioner for Trade from 2004 and 2008, will deliver a keynote address on the final day of the 2015 World Forum for Foreign Direct Investment, on immigration policy , FDI and the global fight for talent. The forum, organised by Conway Events, will be held from 8 – 10 February in ...

Sharjah Economic Development Department has launched a new one-stop-shop for investors setting up businesses in the emirate. The new government Investor Services Centre, aims to significantly reduce the amount of time taken to establish a business in Sharjah, while increasing the level of service offered to commercial investors. The new service centre is one of a number of initiatives undertaken by Sharjah ...

Global business aviation services company Gama Aviation this week confirmed plans to further expand its private aviation hub in Sharjah. The company began handling all business aviation services at Sharjah International Airport in early 2012 via a partnership with Sharjah Airport Authority and recently opened its own private aviation terminal, providing a full service private aviation hub for its customers ...

Sharjah residential property rents increased 23 per cent during the first nine months of 2014, according to Cluttons. The real estate consultancy credited ongoing reverse migration from neighbouring Dubai and the rapid expansion of Air Arabia as key factors driving the increase, combined with a limited supply of residential property. Apartment rental prices in the emirate surged 35 per cent ...

According to a new report by international real estate consultancy Cluttons, while Sharjah’s office rental market saw no growth during the July, August, September period, rents are expected to rise during the last quarter of the year due to growing demand for A grade office space. Some prime commercial locations saw a lowering of rental costs during the third quarter. ...