News

According to April 2015 figures just announced by Sharjah Airport Authority, 814,648 passengers were handled by Sharjah International Airport last month, a 7 percent increase on the 761,313 passengers handled during April 2014. Overall, airport passenger numbers have grown 6 percent during the first four months of the year, compared with 2014, with 3.2 million passengers passing through the airport. ...

Sheikha Bodour Bint Sultan Al Qasimi, chairperson of Sharjah Investment and Development Authority (Shurooq), is expected to champion youth empowerment at the upcoming World Economic Forum on the Middle East and North Africa (MENA) in Jordan this week. Sheikha Bodour will take part in the panel session “The youth imperative: what shifts are necessary to equip the region’s youth for ...

Bank of Sharjah P.J.S.C. (BOS:ADX) is firming up plans to issue a US$ 500 million (AED 1.84b) senior unsecured bond and has organised an investor roadshow with lead arrangers beginning on Thursday May 21st in London. The bank disclosed its board decision to issue a senior unsecured bond with a five-year term to shareholders in April. Bank of Sharjah has ...

Global credit rating agency Standard & Poor’s has affirmed the Emirate of Sharjah’s A/A-1 sovereign credit ratings long- and short-term, foreign and local currency, on the basis of Sharjah’s strong nominal GDP (gross domestic product) growth. The agency expects that Sharjah’s nominal GDP growth will remain strong, against the government’s relatively high interest burden. S&P also stated that Sharjah had ...

UK-based Bash-P International, the flagship lifting equipment manufacturing company of the Safety & Services Group, has opened a US$20 million (AED 73m) nylon ‘lifting webbing’ manufacturing unit in Sharjah Airport International Free Zone (SAIF Zone). The unit is the first dedicated lifting webbing factory in the Middle East and North Africa. The new factory will produce nylon/polyester webbing material ranging ...

Ajman Tourism Development Department (ATDD) and Sharjah Investment and Development Authority (Shurooq) signed a cooperation agreement at Arabian Travel Market 2015 in Dubai, to promote all tourism and cultural landmarks and historic sites in Ajman and Sharjah. Present at the signing ceremony were H.E. Faisal bin Ahmed Al Nuaimi, Director General of Ajman Tourism Development Department and H.E. Marwan bin ...

A new US$100 million (AED 367m) art and culture themed 5-star luxury beachfront hotel and resort, the Majlis Grand Mercure Sharjah, is to be built on Sharjah’s corniche and managed by global hotel operator Accor. The new development was announced this week by H.E. Sheikh Sultan bin Ahmed Al Qasimi, chairman of Basma Group Sharjah and H.R.H. Prince Khaled bin ...

Sharjah Investment and Development Authority (Shurooq) unveiled its plans for Al Noor Island at the Arabian Travel Market 2015 this week. The AED 80 million (US$23m) tourism and leisure project, which is currently under construction on the 45,470 square meter Al Noor Island in Khalid Lagoon in Sharjah, will combine nature, art and entertainment. Scheduled for completion in the fourth ...

Sharjah Islamic Bank CEO Mohammed Abdulla rang the opening bell at Nasdaq Dubai on Sunday to celebrate the listing of US$500 million (AED 1.84 b) sukuk on the exchange. It is the second sukuk to be listed by Sharjah Islamic Bank (SIB) on Nasdaq Dubai , following a US$ 500 million listing in April 2013. Global sukuk issuance is expected ...

Authority readies to unveil new premium tourism project and promote its diverse portfolio of world-class destinations The Sharjah Investment Development Authority (Shurooq) is set to participate in the upcoming 2015 Arabian Travel Market (ATM 2015) for the 5th time, which will be taking place at the Dubai International Convention and Exhibition Centre from the 4th to the 7th of May. ...