Economy

Sheikha Bodour Bint Sultan Al Qasimi, chairperson of Sharjah Investment and Development Authority (Shurooq), is expected to champion youth empowerment at the upcoming World Economic Forum on the Middle East and North Africa (MENA) in Jordan this week. Sheikha Bodour will take part in the panel session “The youth imperative: what shifts are necessary to equip the region’s youth for ...

Global credit rating agency Standard & Poor’s has affirmed the Emirate of Sharjah’s A/A-1 sovereign credit ratings long- and short-term, foreign and local currency, on the basis of Sharjah’s strong nominal GDP (gross domestic product) growth. The agency expects that Sharjah’s nominal GDP growth will remain strong, against the government’s relatively high interest burden. S&P also stated that Sharjah had ...

Phase one of Sharjah’s new post code system has been officially launched by Sharjah Urban Planning Council (SUPC) in the first step to provide emirate-wide local post codes, opening up new opportunities for ecommerce, retail and logistics providers. The new local post code system, developed by the Emirates Post Group, provides a key component for the door-to-door delivery of a ...

Sheikha Bodour Bint Sultan Al Qasimi, Chairperson of Sharjah Investment and Development Authority (Shurooq), will be co-chairing the World Economic Forum on the Middle East and North Africa (MENA) next month. This is the first time an Emirati woman has been chosen to co-chair the World Economic Forum, an event that engages business, political, academic and other leaders of society ...

Sharjah’s higher degree of economic diversification compared to other Gulf Co-operation Council (GCC) members diminishes the impact of the recent oil price drop on the emirate’s economy, according to Moody’s Investors Service annual Sharjah Credit Analysis, published this week. Moody’s expects Sharjah’s economic growth to remain solid with a low government debt burden, although the report noted that debt levels are ...

Sharjah’s Department of Statistics and Community Development has announced that the emirate’s 2015 population census will commence in October 2015. The Sharjah Census will provide the necessary data for the government’s strategic planning and comprehensive human and infrastructure development, as well supporting further socio-economic studies to help guide progress and prosperity in the emirate. [Click to read about the Sharjah ...

Abu Dhabi, Dubai, Ras Al Khaimah and Sharjah were listed among the world’s top cities in ‘Economic Potential’ by the 2014/2015 Global Cities of the Future report produced by fDI intelligence, a division of the Financial Times (FT) specialising in foreign direct investment. Abu Dhabi and Dubai were listed in the report’s overall Top 25 cities list, while Sharjah and ...

Sharjah Islamic Bank (SIB) is arranging meetings with fixed income investors this week in advance of a planned U.S. dollar benchmark sukuk, a term normally used to describe an Islamic bond issue of value greater than US$500 million (AED 1.8b). Meanwhile, Moody’s Investors Service has assigned a provisional (P)A3 senior unsecured (foreign and local currency) MTN rating with Stable Outlook to the ...

Sharjah 2015, the twelfth edition of the World Forum for Foreign Direct Investment, hosted by the Sharjah Investment and Development Authority (Shurooq) came to a close on Tuesday. Opened by His Highness Dr Shaikh Sultan Bin Mohammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah this year’s World Forum marks the first time that the event has ...

Moody’s Investors Services, has reconfirmed the Emirate of Sharjah’s strong “A3” long-term credit rating with a stable outlook. The international credit rating agency issued its first credit report on Sharjah in January 2014 an awarded an A3 stable rating reflecting the emirate’s credit strength, supported by its strong fiscal policy and low government debt position. Moody’s published a separate report ...