News

The UAE Ministry of Economy and the Sharjah Investment and Development Authority (Shurooq) signed a Memorandum of Understanding (MoU) at the Mleiha Archaeology Centre on Monday to strengthen ties, increase commercial, economic cooperation and expand investment opportunities in Sharjah. The MoU was signed by Sheikha Bodour bint Sultan Al Qasimi, Chairperson of Sharjah Investment and Development Authority (Shurooq), and HE Eng. ...

Top business leaders from Sharjah and Canada held a Roundtable session yesterday (February 23) organized by Sharjah Investment and Development Authority (Shurooq) in collaboration with the Canadian Business Councils in Dubai and Abu Dhabi. Panellists, consisting of top executives from leading government sectors in Sharjah, discussed keys areas of investment and growth in the emirate, and also presented key achievements ...

The Jordan-based media body, United Arab Media Council (UAMC), has named the city of Sharjah as the Capital of the Arab Press for Year 2016. The accolade follows Sharjah’s year as Capital of Arab Tourism in 2015, as voted by the Arab Council of Tourism Ministers, and a year as the Islamic Culture Capital of the Arab Region in 2014, ...

The Government of Sharjah has set its annual budget at AED 20.3 billion (US$ 5.5 billion) increasing government spending by 2 percent, according to an official announcement made this week. In common with 2015, 46 percent of the budget has been allocated to economic development to support the sustainable growth of Sharjah’s economy. Meanwhile, the government expects an 8 percent ...

Sharjah-based energy company Dana Gas PJSC (DANA:ADX) started production from Sharjah’s Zora gas field in January, according to an investor presentation from the company. The Zora gas field forms part of the Sharjah Western Offshore Concession and is located in waters off Sharjah and Ajman. The field, which was originally discovered in 1979, has an initial production capacity of about ...

Sharjah Commerce and Tourism Development Authority (SCTDA) has recently revealed plans to open five overseas offices to promote Sharjah as a tourism destination. The authority will open representative offices in China, India, Russia, Germany and Saudi Arabia during the first part of 2016. Meanwhile, the authority has forecast a modest 3-5 percent growth in tourist numbers for this year, after a ...

Global business aviation services company Gama Aviation plc has revealed to the Gulf News that it has now received approval to build a new maintenance hangar its fixed base operation (FBO) in Sharjah International Airport. The approval means that the company will be able to add three or four aircraft to its Sharjah-based managed fleet, in addition to the 7-8 ...

Global credit rating agency Standard & Poor’s has affirmed its ‘A/A-1’ long-and short-term foreign and local currency sovereign credit ratings on the Emirate of Sharjah. The agency also reaffirmed the stable outlook for Sharjah based on a low government debt burden, a diversified industrial base and continued robust economic growth. S&P began assigning sovereign credit ratings for the Emirate of ...

Sharjah Investment and Development Authority (Shurooq) has partnered with Dubai’s Emaar Properties and Abu Dhabi real-estate developer Eagle Hills to establish Omran Properties, which will develop commercial, industrial and real estate projects in Sharjah and beyond. Sharjah’s real estate market has seen a transformation with the recent construction of large-scale master planned developments and changes to laws allowing foreigners to ...

Sharjah Media City Free Zone has now been established by royal decree, which orders the creation of a competitive and sustainable tax-free zone city with world-class infrastructure and services. The new zone will have legal independence over licencing and media regulations, although governed by the laws of the United Arab Emirates and Sharjah. The move follows in the wake of ...