Business

Global business aviation services company Gama Aviation plc has announced that it has cut basic handling rates for its fixed base operation (FBO) at Sharjah International Airport by 20 percent following a global review of its operations. The reduction in handling rates ensures that the company’s Sharjah hub is highly competitive when compared to similar offerings in Dubai and other ...

Bank of Sharjah P.J.S.C. (BOS:ADX) has announced a 16 percent increase in net profit during the first six months of 2015, with net profit reaching AED 176 million (US$ 48m) compared with AED 152 million (US$ 41m) during the same period last year. Strong growth in loans and advances contributed to growth, while boosting bank liquidity and capital. Loans and ...

Sharjah’s east coast Khorfakkan Port has been ranked in the top ten most productive ports in the world, according to the 2014 JOC Port Productivity report. The Journal of Commerce compiled the report based on data gathered about 483 terminals and 771 ports from ocean freight carriers representing more than 75 percent of global capacity. All ports listed in the ...

Sharjah-based process equipment manufacturer Quality International, has shipped its third massive Multi Effect Distillation (MED) evaporator unit to Kuwait for the first phase of the Az-Zour North Independent Water & Power Project, one of the largest power and water production projects in the Middle East. According to the manufacturer, the MED Evaporators for the project are the largest of their ...

The UAE’s Council of Small and Medium-Sized Enterprises and Projects is in the final stages of formation and will soon begin implementing programmes to grow and develop the small and medium-sized enterprise (SME) sector. SMEs have been identified as critical for the economic and social development of emerging markets, playing a major role in creating jobs, developing economic growth, and ...

ATS, a UAE-based logistics company catering to the global shipping, logistics and marine industries, has doubled the capacity of its liquid storage terminal at Sharjah’s Hamriyah Free Zone as part of an estimated AED 100 million (US$ 27m) investment in the facility. The state-of-art liquid storage terminal has increased capacity from its initial 22,000 cubic meters to 42,000 cubic meters ...

Sharjah-headquartered Air Arabia (AIRARABI:DFM) has been named the Best Low-cost Airline in the Middle East at the annual Skytrax World Airline Awards. It is the second time in three years that the carrier has won the coveted award, following its previous Skytrax award in 2013. Air Arabia is the largest low-cost carrier operator in the Middle East and North Africa ...

The Sharjah-headquartered international port operator Gulftainer has announced the commercial opening of its new Canaveral Cargo Terminal at Port Canaveral in Florida, USA. GT USA, Gulftainer’s US business, signed a 35-year agreement with Port Canaveral last year to manage the port’s new container and multipurpose sea cargo terminal. Port Canaveral is a cruise, cargo and naval port in Brevard County, ...

Global workplace provider Regus has opened a new serviced office centre at Expo Centre Sharjah, one of the region’s leading exhibition venues. The new business centre at Sharjah Expo is one of three Regus facilities in Sharjah, providing fully equipped serviced offices. Expo Centre Sharjah , now hosts fully equipped and ready-to-go workspaces, in a convenient location adjacent to the ...

Bank of Sharjah P.J.S.C. (BOS:ADX) has set guidance for its US$ 500 million (AED 1.84b) 5-year senior unsecured bond. Guidance for the bond was confirmed by lead arrangers on Monday at 180 basis points (bps) over midswaps (a benchmark for calculating bids), plus or minus 5 bps. The bank ran an roadshow with lead arrangers from 21 to 25 May ...