News

H.H. Dr. Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, has issued Law No. 10 2017 approving a general budget for the Emirate of Sharjah of AED 22.1 billion (US$ 6 billion) for the fiscal year 2018. According to Sharjah Finance Department (SFD), the budget has increased 6 percent compared to the final 2017 budget ...

Sharjah Investment and Development Authority (Shurooq) is set to reveal the highly-anticipated details of its Al Montazah Amusement and Water Park projects at a press conference on 19th of December at 1971 Design Space, Flag Island, Sharjah, as the clock counts down to launching one of Sharjah’s latest and most impressive entertainment destinations. With a host of brand new features, ...

IndiGo, India’s largest budget-carrier, will introduce non-stop flights to Sharjah from Lucknow (LKO) and Hyderabad (HYD) starting 29 December 2017, due to the growing demand for Sharjah connections. The airline launched its inaugural flight to Sharjah International Airport in March, connecting Sharjah with Kozhikode (Calicut), followed by the addition of a direct flight from Thiruvananthapuram (Trivandrum) in April. IndiGo will ...

Global credit rating agency Moody’s Investors Service has affirmed the long-term issuer rating for the Government of Sharjah at A3 and maintained the outlook at stable. Moody’s has affirmed the same high rating with a stable outlook for the emirate since its first rating report in 2014. Moody’s also affirmed its A3 ratings on Sharjah’s two senior unsecured sovereign Islamic ...

As Sharjah continues its extensive drive to build a wider global base of economic allies and investors, government entities, expanding enterprises and private businesses from Japan and Sharjah met recently to discuss latest investment opportunities in the rapidly diversifying economic milieu of Sharjah and the UAE. For the first time an international business meeting was brought to a site of ...

Sharjah Electricity and Water Authority (SEWA) is evaluating details of an independent power project (IPP) for Hamriyah power station to be developed under a Build-Operate-Transfer (BOT) contract. Sharjah’s utility authority started a bid process towards the end of 2015, for a project to expand and convert Hamriyah power plant from an open-cycle plant to a combined-cycle facility. According to Middle ...

His Highness Dr. Sheikh Sultan Bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, has issued royal decree no. 15 of 2017, forming the board of directors for Sharjah Research Technology and Innovation Park (SRTIP) free zone authority. The park is currently being developed, adjacent to American University of Sharjah campus, by the university’s commercial and investment arm ...

Sharjah’s Basma Group and property developer ARADA have signed a management agreement with luxury hospitality group Minor Hotels to launch an Anantara Sharjah Resort, scheduled to open in mid-2020. The new Sharjah property is one four Anantara-branded resorts planned for the UAE. International hotel owner-operator Minor Hotels currently has 157 hotels in operation across Africa, Asia and the Middle East. ...

Dubai Financial Market (DFM) today announced it has signed a Memorandum of Understanding (MoU) with Sharjah Investment and Development Authority (Shurooq), creating the necessary foundation for an extensive cooperation between the two sides. The agreement aims at streamlining private and family businesses’ access to DFM’s innovative services and realizing the numerous benefit of going public and listing on DFM. His ...

Sharjah will host the 4th Hospitality Industry Forum on 4 December 2017 at Sharjah Chamber of Commerce and Industry (SCCI), bringing together experts and professionals from hotels, resorts and across the emirate’s integrated tourism system. The one-day event, organised by Sharjah Commerce and Tourism Development Authority (SCTDA), will discuss the latest developments in the hospitality sector at local, regional and ...