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The Editor

Sharjah chamber offers free space to start-ups

Sharjah Chamber of Commerce & Industry (SCCI) will provide 50 new offices free-of-charge to entrepreneurs as part of the chamber’s Incubate Business Programme. According to the chamber, office space will be offered to entrepreneurs that have creative ideas and innovative projects to be executed in the UAE. The chamber hopes that providing office space to promising start-ups will help support ...

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Air Arabia reports 14% increase in passengers

Sharjah-headquartered Air Arabia PJSC (AIRARABI:DFM), the largest low-cost carrier operator in the Middle East and North Africa, has reported a 14 percent increase in passenger numbers, carrying 4.1 million passengers during the first six months of 2016, compared with 3.6 million during the same period of 2015. The airline also announced a 3.5 percent increase in net profit, compared with ...

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Sharjah hotel revenues up 7% in first half of 2016

The Emirate of Sharjah registered a 7 percent increase in hotel revenues, reaching AED 378 million (USD 103m) during the first six months of 2016, according to the latest figures from Sharjah Commerce and Tourism Development Authority (SCTDA). The authority has been targeting markets identified in its strategic marketing plan and says that H1 2016 hotel statistics show a 19 ...

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S&P revises Sharjah’s ratings outlook, affirms A/A-1 credit rating

Standard & Poor’s has revised its credit ratings outlook from ‘stable’ to ‘negative’, whilst re-affirming the emirate’s A/A-1 sovereign credit ratings for long- and short-term, foreign and local currency. According to S&P, the negative outlook speaks to the potential risk that external demand and economic activity in Sharjah may weaken. However, the global credit rating agency noted that it expects ...

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Sheraa: helping to accelerate the UAE’s entrepreneurial ambitions

Sheraa (Sharjah Entrepreneurship Centre), launched under the patronage of Sheikha Bodour bint Sultan Al Qasimi, Chairperson of the Sharjah Investment and Development Authority (Shurooq), Chairperson of Sheraa (Sharjah Entrepreneurship Center), has laid the foundations for a thriving community of young entrepreneurs who will contribute to the growth of the United Arab Emirates and the region. The centre, which commenced operations ...

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SAIF Zone roadshows woo Indian investors

Sharjah Airport International Free Zone (SAIF Zone) has carried out an extensive series of marketing roadshows across India this year, promoting the free zone in key cities and states throughout the country. This week, the free zone presented its proposition to investors in Kolkata in West Bengal, the third-most populous metropolitan area in India. Over the past 20 years, SAIF Zone ...

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Sharjah airport sees 12% rise in passengers

Commercial passenger traffic at Sharjah International Airport increased by 11.55 percent during the first half of this year, compared with the same period in 2015, according to Sharjah Airport Authority. A total of 5.35 million passengers passed through the airport from January to June 2016, compared to 4.79 million in the same period last year. Aircraft movements at Sharjah airport ...

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US fuel system manufacturer opens Sharjah plant

US fuel injection system designer and manufacturer Stanadyne has opened an assembly plant in Sharjah Airport International Free Zone (SAIF Zone) to support export contracts. With manufacturing plants in China, India, Italy and the United States, the Sharjah facility is the company’s first in the Middle East. Stanadyne’s new plant will initially manufacture low emission diesel fuel pumps for Millat ...

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Shurooq steps up UK FDI promotion

Sharjah Investment and Development Authority (Shurooq) introduced Sharjah’s investment proposition to businesses in United Kingdom this month, participating in the second edition of the GCC-British Economic Forum, which took place on 21 July in London. Organised by the Arab British Chamber of Commerce and hosted in London, the forum was attended by senior officials, executives, and investors from Bahrain, Kuwait, ...

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Shurooq highlights sustainable economic development

Sharjah Investment and Development Authority (Shurooq) has participated in the second edition of the GCC-British Economic Forum, which took place on July 21. Organised by the Arab British Chamber of Commerce and hosted in London, the forum saw the attendance of senior Emirati and British officials, executives, decision-makers, investors and businesspersons. Held under the banner: ‘Vision, Challenges and Ambitions: Integration ...

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