The launch of the Government of Sharjah’s debut sovereign Islamic bond issue or sukuk has been met by massive demand from investors. The 10-year US dollar sukuk was launched at a size of US$750 million (AED 275b) on Wednesday, securing orders worth about US$7.85 billion (AED 29b). Sharjah has secured global investor attention this year, after receiving its first sovereign ...

Sharjah-based energy company Dana Gas PJSC (DANA:ADX)  has secured US$100 million (AED 367m) financing for the Zora gas field development project, via its wholly-owned Dana Gas Explorations FZE. The Zora gas field is expected to come on stream during the first half of 2015 with a production capacity of 40 million standard cubic feet per day (mmscfd). The Dana Gas Group is ...

Hazel International FZE (HIF), owned by Indian conglomerate Veritas (India) Limited (VIL), has begun construction of a US$ 126.45 million (AED 464.5m) liquid and solid cargo handling terminal at Sharjah’s Hamriyah Free Zone. The new terminal is expected to make the free zone the second largest hub for petrochemicals, oil and gas bunkering and storage in the UAE. The new ...