News

The emirate of Sharjah’s gross domestic product (GDP) grew by 8 percent during 2013, according to new statistics released by the United Arab Emirates Ministry of Economy this week. According to the Ministry, Sharjah’s economy fared well during the last global financial crisis and bounced back from -5 percent GDP downturn in 2009 to +4 percent GDP growth in 2010, 7 ...

Sharjah-headquartered Air Arabia (AIRARABI:DFM), the largest low-cost carrier operator in the Middle East and North Africa, has been named in the World Economic Forum’s Global Growth Companies (GGCs) list for 2014. According to the World Economic Forum (WEF), GGCs are the world’s most dynamic, high-growth companies from around the world. This year’s GGC list includes 28 trailblazers, shapers and innovators ...

Preparations for the 2015 World Forum for Foreign Direct Investment are well underway and registration for the event is now open. Held annually in locations around the world, the 2015 forum will be held from 7 – 10 February in Sharjah, United Arab Emirates, hosted by Sharjah Investment and Development Authority (Shurooq) and organised by Red Hot Locations. It is ...

The Sharjah Commerce and Tourism Development Authority (SCTDA) has introduced a new hotel classification system in an effort to improve quality standards, offer consumers more choice and so to help boost overall tourism industry growth. The new classification updates the criteria introduced in 2008, which falls under the Sharjah Hotel Classification and Licensing Law. According to HE Khalid Jasim Al ...

The Sharjah Investment and Development Authority (Shurooq) has concluded a series of high profile meetings with trade and investment organisations in the U.S.A., holding meetings in Washington DC, Seattle, San Francisco and Los Angeles. The authority was visiting the United States as part of a larger delegation led by the UAE Ministry of Economy. Shurooq’s delegation included Sheikha Bodour bint ...

Sharjah registered a 15 percent increase in tourist numbers during the first half of 2014, with more than one million tourists staying in the emirate compared with 955,355 tourists during the same period last year, according to new figures announced by the Sharjah Commerce and Tourism Development Authority (SCTDA). According to the SCTDA, Sharjah’s hotels enjoyed an average 74 per ...

Sharjah-based energy company Dana Gas PJSC (DANA:ADX) has announced that its wholly owned subsidiary, Dana Gas Egypt, has been awarded the North El Salhiya (Block 1) and El Matariya (Block 3) onshore concessions in the Nile Delta as part of the 2014 Egyptian Natural Gas Holding Company (EGAS) bidding round held recently in Egypt. The company is currently the 6th ...

The Sharjah Investment and Development Authority (Shurooq) has successfully concluded its participation in Cityscape Global 2014, the Middle East and North Africa’s largest real estate trade show, which took place at Dubai World Trade Centre from 21-23 September.

The Sharjah Investment and Development Authority (Shurooq) took Sharjah’s investment proposition to Shanghai this month, as part of its ongoing campaign to promote Sharjah as a destination for Chinese trade and investment. The authority took part in the 18th China International Fair of Investment and Trade in the coastal city of Xiamen, in partnership with the UAE Ministry of Economy. ...

Sharjah real estate is attracting investment from expatriate Arabs living in the UAE, after the government relaxed regulations to allow non-GCC nationals to buy property. Historically, only Emirati or other citizens from the Gulf Cooperation Council (GCC) have been allowed to own property, but a recent policy change now permits other Arab nationalities living in the UAE to purchase up ...