Economy

H.H. Dr. Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, has issued Law No. 10 2017 approving a general budget for the Emirate of Sharjah of AED 22.1 billion (US$ 6 billion) for the fiscal year 2018. According to Sharjah Finance Department (SFD), the budget has increased 6 percent compared to the final 2017 budget ...

Global credit rating agency Moody’s Investors Service has affirmed the long-term issuer rating for the Government of Sharjah at A3 and maintained the outlook at stable. Moody’s has affirmed the same high rating with a stable outlook for the emirate since its first rating report in 2014. Moody’s also affirmed its A3 ratings on Sharjah’s two senior unsecured sovereign Islamic ...

Economists, technologists and futurists are predicting that global economies are soon going to be subjected to their greatest transformation ever: the ‘fourth industrial revolution’. Built on the foundation laid by the third (digital) revolution, experts expect emerging technology breakthroughs in fields such as artificial intelligence, advanced robotics, the Internet of Things, quantum computing, biotechnology and nanotechnology to have a fundamental ...

Sharjah saw an overall 46 percent increase in the number of real estate sales transactions, according to the latest figures released by Sharjah Real Estate Registration Department. Commercial and residential buyers led Sharjah property sales during H1 2017, supported by the availability of new units as developers completed real estate projects in and around Sharjah city. Overall, Sharjah saw AED ...

Sharjah Chamber of Commerce and Industry (SCCI) has recorded an overall 4.8 percent growth in its memberships, totalling 67,796 members at the end of June 2017. According to the Chamber, the total number of company membership registrations reached 33,215 during the first half of 2017, an increase of 1 percent on the first six months of 2016. Of those, 3,108 ...

Global credit rating agency Standard & Poor’s has affirmed the Emirate of Sharjah’s BBB+/A-2 sovereign credit ratings long- and short-term, foreign and local currency, with a stable outlook. The agency also projected a gradual increase in economic growth from 2017 to 2020, supported by growth in the emirate’s construction, tourism and manufacturing sectors. S&P began assigning sovereign credit ratings for ...

Sharjah Economic Development Department (SEDD) has issued 33,149 business licenses during the first half of 2017, consistent with the number of licenses issued during the equivalent periods over the past three years. The department issued 33,192 licenses in H1 2015 and 31,889 licenses during the same period of 2014*. The SEDD statistics exclude those business licenses issued by the emirate’s ...

Sheikha Bodour bint Sultan Al Qasimi, chairperson of Sharjah Investment and Development Authority (Shurooq), will now chair the World Economic Forum‘s Regional Business Council (RBC) for the Middle East and North Africa (MENA). The announcement was made by Professor Klaus Schwab, founder and executive chairman of WEF at the World Economic Forum on the Middle East and North Africa, held ...

Investment, finance and government leaders will meet in Sharjah next month to discuss the role of investment in developing an innovative economy. Held under the patronage of His Highness Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah, and hosted by ‘Invest in Sharjah’, the Government of Sharjah’s FDI office, the UAE’s first Euromoney ...

Euromoney Conferences announced the launch of The Euromoney Emirates Conference 2017, the first Euromoney event to be held in the UAE. The conference will run on May 8 and 9 in Sharjah. Since the late 1970s, the company has organised a series of successful and high profile financial events in more than 60 countries and across the region, including the ...