News

Sharjah Islamic Bank (SIB) issued an unsecured US$ 500 million (AED 1.8b) 5-year Islamic bond or sukuk on Tuesday, which was oversubscribed by more than seven times. According to SIB, the bank’s fourth sukuk received around 120 orders worth US$ 3.6 billion (AED 13 b). Sharjah Islamic Bank issued its first successful Islamic bond in 2006 and currently has two sukuk, one US$400 million ...

India’s largest manufacturer of polymer emulsions for paints and coatings, textiles and adhesives has officially opened a new US$ 51 million (AED 187m) emulsions plant in Sharjah’s Hamriyah Free Zone Authority (HFZA) commencing operations in April. Visen Industries Ltd. (VIL) is the market leader in India with regular customers like Asian Paints, Berger Paints, Kansai Nerolac and Jotun Paints. The ...

Sharjah’s hotels registered more than two million guests during 2014, according to the latest statistics from Sharjah Commerce and Tourism Development Authority (SCTDA). Sharjah’s tourism received a boost during the past year as the Islamic Cultural Capital for 2014 and its new status as the Arab Tourism Capital for 2015 is expected to bring even more focus to emirate. Sharjah ...

Abu Dhabi, Dubai, Ras Al Khaimah and Sharjah were listed among the world’s top cities in ‘Economic Potential’ by the 2014/2015 Global Cities of the Future report produced by fDI intelligence, a division of the Financial Times (FT) specialising in foreign direct investment. Abu Dhabi and Dubai were listed in the report’s overall Top 25 cities list, while Sharjah and ...

Forty-nine homeowners have taken possession of new properties in the US$1.36 billion (AED5 b) Al Zahia mixed-use gated community development in Sharjah. According to the developers, fifty-one homes have been completed, including two show homes, and another 197 units will be built by Q2 2016. Developed by Majid Al Futtaim and owned by the government company Sharjah Holding, the community ...

Sharjah Islamic Bank (SIB) is arranging meetings with fixed income investors this week in advance of a planned U.S. dollar benchmark sukuk, a term normally used to describe an Islamic bond issue of value greater than US$500 million (AED 1.8b). Meanwhile, Moody’s Investors Service has assigned a provisional (P)A3 senior unsecured (foreign and local currency) MTN rating with Stable Outlook to the ...

Sharjah-based property company, JMS Property Development and Management, has announced the launch of a mixed use, multi-purpose property development in Sharjah’s popular Al Nadha district. The AED 700 million (US$191 m) development, called Al Rayyan, will include residential, commercial and retail units covering a total of 251,000 square metres (2,700,000 sq. ft.). Designed by architectural firm B&H, Al Rayyan will ...

قررت حكومة الشارقة رفع الحد الأدنى لأجور موظفي الحكومة إلى 11 ألف درهم إماراتي في الشهر (2.995 دولار أمريكي)، كما سيتم أيضا رفع الحد الأدنى للمعاش الشهري للمتقاعدين إلى 11 ألف درهم إماراتي. وتعتبر هذه الخطوة جزءا من عدة مبادرات، أطلقها صاحب السمو الشيخ الدكتور سلطان بن محمد القاسمي عضو المجلس الأعلى حاكم الشارقة، بهدف ضمان الاستقرار المعيشي للمواطنين. وكانت ...

قررت حكومة الشارقة رفع الحد الأدنى لأجور موظفي الحكومة إلى 11 ألف درهم إماراتي في الشهر (2.995 دولار أمريكي)، كما سيتم أيضا رفع الحد الأدنى للمعاش الشهري للمتقاعدين إلى 11 ألف درهم إماراتي. وتعتبر هذه الخطوة جزءا من عدة مبادرات، أطلقها صاحب السمو الشيخ الدكتور سلطان بن محمد القاسمي عضو المجلس الأعلى حاكم الشارقة، بهدف ضمان الاستقرار المعيشي للمواطنين. وكانت ...

The Government of Sharjah is to increase the minimum salary of government employees to AED 11,000 per month (US$ 2,995), while retirees will also be ensured a minimum monthly income of AED 11,000. The move is part of several initiatives to provide stability and security for Emirati employees launched by His Highness Dr Shaikh Sultan Bin Mohammad Al Qasimi, Member ...