News

Sharjah Economic Development Department (SEDD) is targeting new growth from Sharjah’s manufacturing and industry and aims to provide even higher levels of support to the sector. The Industrial Affairs Department, which was established in 2014, estimates that the contribution from the industrial sector to Sharjah’s GDP (gross domestic product) may grow from its current 14 percent to as high as 25 ...

More than 28,000 people have visited Al Noor Island, Sharjah’s newest tourist and leisure destination in its first month since opening to the public. The island, which combines art and nature, was inaugurated by His Highness Sheikh Dr Sultan Bin Mohammed Al Qasimi, Member of the Supreme Council and Ruler of Sharjah last month to coincide with Sharjah being selected ...

Details of the completed phase one of the Mleiha Archaeological and Eco-tourism Project have been revealed today by Sharjah Investment and Development Authority (Shurooq). The multiphase project will create a new tourist attraction in the UAE and the wider Arab region with an estimated AED 250 million (US$ 68m) expected to be invested in Mleiha over the next few years. ...

A delegation from Sharjah Investment and Development authority (Shurooq) has taken part in the Asian Financial Forum (AFF) that took place from 18-19 January 2016 at the Hong Kong Convention and Exhibition Centre. Shurooq ‘s participating delegation was let by Saud Meqdad Al Suwaidi, Director of Sharjah Foreign Direct Investment at the Sharjah Investment and Development Authority ( Shurooq ) ...

The Government of Sharjah has issued a US$500 million (AED 1.8b) Islamic bond this week with a 5-year maturity, which is the first sovereign sukuk to be issued globally this year. Bank of Sharjah, Barclays, Commerzbank, Dubai Islamic Bank, HSBC and Sharjah Islamic Bank acted as lead arrangers for the issue. Final pricing for the bond, according to a document ...

A new Sharjah Entrepreneurship Centre has been launched at the American University of Sharjah this week. The centre, which is branded ‘Sheraa’, is an initiative of Sharjah Investment and Development Authority (Shurooq) and aims to inspire young people to start their own enterprises and raise the emirate’s profile as a preferred destination for startups. The launch event was attended by ...

With the support of His Highness Sheikh Dr Sultan Bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, Sheikha Bodour bint Sultan Al Qasimi, Chairperson of Sharjah Investment and Development Authority (Shurooq), has announced the establishment of Sharjah Entrepreneurship Centre (Sheraa) to support and develop the entrepreneurial environment in the Emirate of Sharjah. Sheraa aims to ...

Total passengers handled by Sharjah International Airport surpassed 10 million per annum for the first time during 2015, growing 5.5 percent compared with passenger numbers in 2014. Meanwhile, aircraft movements at Sharjah international increased by 1.23 percent to 71,426 in 2015 compared with 70,559 in 2014. Sharjah passenger traffic saw strong growth throughout the year, growing by 6 percent in ...

Lead arrangers have been holding investor meetings this week to pave the way for the Government of Sharjah’s second sukuk. The new sovereign bond, which is expected to be in excess of US$500 million, could be the first sovereign sukuk to be issued globally in 2016. Global rating agency Standard and Poor’s has forecast fewer sukuk issuances this year, possibly ...

American University of Sharjah (AUS) has appointed Hussain Al Mahmoudi as Chief Executive Officer of AUS Enterprises, a new holding company mandated to develop revenue-generating commercial activities for AUS via special purpose vehicles. AUS Enterprises was established by Amiri decree in November 2015. The appointment of the new CEO was approved by the AUS Board of Trustees, chaired by His ...