News

As part of its participation at the world’s leading travel trade show, Sharjah Investment and Development Authority (Shurooq) is reinforcing the emirate’s status as one of the Middle East’s leading tourism destinations by promoting four of its most impressive hospitality venues. Under the umbrella of Sharjah Tourism and Commerce Development Authority, Shurooq is attracting interest from trade visitors across five ...

Al Majaz Waterfront has announced that eight new restaurants and cafés will be opened later in the year in conjunction with the completion of the extension’s second phase and an increase in the number of parking lots to manage the increased capacity. The new extension includes the opening of new Arabic and international outlets, some of which will open in ...

Bank of Sharjah P.J.S.C. (BOS:ADX), Sharjah’s second biggest bank by net assets, has announced the completion of a senior five-year unsecured fixed-rate notes issue totaling US$ 500 million (AED 1.84b), under the bank’s new Euro Medium Term Note (EMTN) programme. Pricing was set at 250 basis points over mid-swaps (a benchmark for calculating bids) to yield at 4.23 percent. Bank ...

The enhancement of Sharjah’s business links with Macedonia was the subject under discussion at a recent roundtable meeting hosted by Sharjah Investment and Development Authority (Shurooq). The event was one in a series of meetings being undertaken by the department throughout the year to explore initiatives that will lead to mutual benefits for countries that ally themselves to Sharjah’s economic ...

Hamriyah Free Zone Authority has launched ‘Sharjah Food Park’, a regional hub for the Middle East and North Africa’s multi-billion dollar food industry, dedicated to food import, export, storage, manufacture and packaging. The new world class zone will be the region’s largest dedicated facility for food industries, covering a total area of 11 million square metres (118 million square feet), and ...

Sharjah’s business links with the world’s second largest country was the topic on the table when Sharjah Investment and Development Authority (Shurooq) hosted a trade meeting with a delegation from Canada. The roundtable event saw the two parties assess an array of initiatives that have the potential to lead to significant mutual benefits for Canada and the UAE. Aimed at ...

Bank of Sharjah P.J.S.C. (BOS:ADX), Sharjah’s second biggest bank by net assets, has set initial guidance for a new five-year international bond, according to lead arrangers this week, confirming an expected price of 250 basis points over mid-swaps (a benchmark for calculating bids). Bank of Sharjah is believed to be planning to issue a US$ 500 million (AED 1.84b) 5-year ...

Sharjah hotel occupancy grew by 5.5 percent during January compared to the same month in 2016, according to the latest report from STR, a firm that provides global data and analysis for the hotel industry. Average occupancy levels across the United Arab Emirates increased by 0.5 percent during January to reach 81 percent, although average room rates at hotels across ...

Sharjah-headquartered Air Arabia PJSC (AIRARABI:DFM), the largest low-cost carrier operator in the Middle East and North Africa, plans to launch a new service from Sharjah to Baku in Azarbajian next month, which is expected to be the airline’s first route launch of the year. Beginning 23 March 2017, Air Arabic will operate four weekly flights from its main hub at ...

Sharjah Commerce and Tourism Development Authority (SCTDA) took Sharjah’s tourism proposition to India’s travel trade this month, attending leading Indian international travel exhibitions in Mumbai and New Delhi. The South Asia Travel and Tourism Exchange (SATTE) in New Delhi event attracts 20,000 travel trade attendees, over 30 international tourism boards and more than 850 travel and tourism exhibitors, while OTM ...