Government

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 ...

The government of Sharjah has set its 2015 annual budget at AED 17.7 billion (US$ 4.8 b), the highest annual budget that the emirate has ever allocated, 12 percent above Sharjah’s AED 15.4 billion (US$ 4.2 b) 2014 budget. The budget was endorsed by The Sharjah Consultative Council (SCC) on Saturday and approved by His Highness Dr. Shaikh Sultan Bin ...

Sharjah’s award-winning integrated environmental and waste management company, Bee’ah, announced its new, state-of-the-art, eco-friendly headquarters during the first day of the World Future Energy Summit 2015 (WFES) in Abu Dhabi this week. The new Bee’ah headquarters building, which takes its inspiration from desert sand dunes, has been designed by Prtizker prize-winning architect Zaha Hadid and reflects the organisation’s passion for ...

Sharjah’s Chamber of Commerce and Industry is to launch a new Sharjah Exports Development Centre next week. The centre will help promote and develop exports from Sharjah industries to regional and global markets. The Exports Development Centre is one of a wide range of initiatives undertaken by Sharjah government departments and authorities to help capitalise on the emirate’s strong economic ...

The Dubai Investment Development Agency (Dubai FDI), an agency of Dubai’s Department of Economic Development (DED), and the Sharjah Investment and Development Authority (Shurooq) have signed a partnership agreement to conduct joint initiatives and exchange information to attract foreign investment into the UAE. As per the partnership agreement signed between the two parties, Dubai FDI and Shurooq will collaborate to ...

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 ...

The Emirate of Sharjah has updated laws regulating Sharjah’s property market to allow foreign expatriates living in the United Arab Emirates to purchase property in zones authorised by the government. Previously, property could only be sold to UAE nationals, other Gulf Cooperation Council (GCC) nationals and Arab nationals with a valid UAE resident visa, but not to the many other ...

His Highness Sheikh Dr. Sultan Bin Mohammed Al Qasimi, Member of the UAE’s Supreme Council and Ruler of Sharjah, this week issued instructions to Bee’ah, Sharjah’s waste management and environment company, to build, what is expected to be, the largest waste-to-energy plant in the world. Bee’ah awarded British firm Chinook Sciences with a GBP 300 million (AED 1.8 billion) contract for ...

Heads of government departments and authorities are to meet in Sharjah on Sunday to discuss how the emirate can best meet the needs of business investors. Organised by Sharjah Investment and Development Authority (Shurooq) under the patronage of His Highness Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah, the Sharjah Forum will focus ...

Moody’s Investors Service has assigned a provisional rating of (P)A3 to the US dollar sovereign Islamic bond issue proposed by the Government of Sharjah. Plans for a sovereign sukuk first came to light in June and it has since been revealed that the government has mandated HSBC, Kuwait Finance House, National Bank of Abu Dhabi, Sharjah Islamic Bank and Standard ...