News

The 2015 World Forum for Foreign Direct Investment took place in Sharjah, United Arab Emirates from 8-10 February, drawing policy makers, corporate investors, FDI experts and government officials from all over the world. Hosted by the Sharjah Investment and Development Authority (Shurooq) and organised by Conway Events, the Sharjah 2015 edition of the forum marked the first time that the ...

Sharjah-headquartered Air Arabia (AIRARABI:DFM), the largest low-cost carrier operator in the Middle East and North Africa, has announced a net profit of AED 566 million (US$ 154m) for 2014, up 30 percent on its net profit for 2013. The airline’s turnover for 2014 increased by 17 percent to AED 3.7 billion (US$ 1b), driven by growth in passenger numbers. Air ...

The UAE’s first full-service freehold residential plots have been announced in Sharjah by Shoumous Properties, a joint venture between Albatha Real Estate and Moafaq Al Gaddah (MAG) Group. Unlike the many other freehold residential developments in the United Arab Emirates, the Shoumous Residential Complex will allow investors to build and sell their own homes according to Sharjah’s real estate regulations. ...

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 ...

Foreign direct investment (FDI) into the United Arab Emirates grew by 25 percent in 2014 to more than US$13 billion (AED 47.75b), equivalent to 5 percent of the nation’s gross domestic product (GDP), according to the Minister of Economy Sultan Bin Saeed Al Mansouri. The Minister made the remarks at the opening of Sharjah 2015, the twelfth World Forum for ...

The United Arab Emirates registered strong growth in private sector production, purchasing and employment during January, according to HSBC‘s monthly Purchasing Managers Index (PMI), compiled by Markit, a global financial information and services company. Experts predict a slowing in some economic activity during this year as a result of lower oil prices, however January’s index showed a three-month high. The ...

Global trade and investment experts and policy makers are expected to converge on Sharjah in the United Arab Emirates next week for the 2015 World Forum for Foreign Direct Investment, which will be held from 9 – 10 February. Hosted by Sharjah Investment and Development Authority (Shurooq), Sharjah 2015 marks the twelfth global edition of the conference and the first ...

The University of Sharjah (UOS) plans to build a new AED 200 million (US$54m) residential tower in Al Mamzar in the centre of Sharjah city. The university currently manages more than 60 buildings on its main campus in Sharjah’s University City near the international airport, in the city and on Sharjah’s east coast. The new residential tower adds to a ...

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 ...