News

S&P Global Ratings has affirmed its ‘BBB-/A-3’ long- and short-term foreign and local currency sovereign credit ratings on the Emirate of Sharjah, a member of the United Arab Emirates (UAE). The outlook is stable. The stable outlook reflects S&P’s view that Sharjah’s government will introduce sufficient measures to begin stabilizing its net general government debt as a percentage of GDP ...

Air Arabia today reported a strong first quarter 2024 financial and operational results, as the airline continued to expand its network and further strengthening its leadership position in the market. Air Arabia reported a net profit of AED266 million for the first three months ending March 31, 2024; 22 percent lower than the AED 342 million registered in the corresponding ...

In response to increasing demand from entrepreneurs and investors from the region and around the world, the Sharjah Publishing City Free Zone (SPC Free Zone) has announced expansion of operations to deliver round-the-clock support to its customers. The free zone also guarantees a 3 business days turnaround for clients seeking to open bank accounts in the UAE. The new initiative ...

The Sharjah Commerce and Tourism Development Authority (SCTDA) revealed a robust 11% increase in hotel guests numbers in 2023, with the emirate welcoming over 1.5 million guests. The sector’s sustainable growth was further underscored by a significant surge in guests from diverse regions: Russian and the Baltics led with a 36% increase, followed by the GCC countries at 17%, and ...

Sharjah Airport has revealed that the first quarter of 2024 witnessed the arrival of over 4.2 million passengers, with 26,473 flight movements and the transportation of more than 42,000 tons of cargo. This further solidifies its regional position in providing a unique travel experience and enhancing the quality of services for passengers, which positively contributes to the development of tourism ...

During their participation in the 13th edition of AIM Congress in Abu Dhabi, a delegation representing the emirate participated in the Sharjah pavilion to showcase the emirate’s commitment to fostering responsible investment, sustainable economic growth, as well as strategies to attract FDI to local markets. Held from May 7 to 9 under the theme “Adapting to a Shifting Investment Landscape: ...

The Sharjah Investment and Development Authority (Shurooq) is turning the heads of global industry leaders and emerging travel industry talents alike at the Arabian Travel Market (ATM) with a carefully crafted presentation showcase of its latest achievements in the sector. The Shurooq ensemble for ATM 2024, which marks its 17th consecutive participation is thoughtfully aligned with the event’s theme this ...

Sheikh Sultan bin Mohammed bin Sultan Al Qasimi, Crown Prince and Deputy Ruler of Sharjah, chaired Sharjah Executive Council’s meeting. The meeting was attended by Sheikh Abdullah bin Salem bin Sultan Al Qasimi, Deputy Ruler of Sharjah and Deputy Head of the Executive Council, and Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah and Deputy Head ...

A new report by Henley & Partners reveals that the number of millionaires in five Middle Eastern cities has risen to around 124,800. The Henley & Partners, which tracks private wealth and investment migration trends worldwide, and global intelligence provider New World Wealth, highlighted that Sharjah registered a 95 per cent growth in millionaires over the past decade and has 4,100 millionaires, 11 centi-millionaires and ...

His Highness Sheikh Dr. Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah has directed the allocation of an AED 2.5 million for the buying of latest titles from participating publishers and booksellers at the ongoing 15th annual Sharjah Children’s Reading Festival (SCRF 2024), to update and further enrich the Sharjah Public Library. The annual grant is ...