Business

Hamriyah Free Zone Authority (HFZA) took its proposition to NPE2015, the world’s largest international plastics trade shows and conferences in Orlando, Florida, as part of the free zone’s effort to bring new firms to its 380,000 square meter Food, Plastics and Packaging Park and grow Sharjah’s plastics industry. Held every three years, the plastics industry trade show attracts 60,000 professionals from ...

Sharjah will showcase investment opportunities for local and global businesses and investors at the 5th edition of Annual Investment Meeting (AIM) from 30 March – 1 April 2015 at the Dubai International Convention and Exhibition Centre. Sharjah Investment and Development Authority (Shurooq) is a Silver Sponsor of the annual event. AIM is an emerging markets FDI-focused event established by the UAE ...

Global port terminal operator Gulftainer, recorded an 8 percent growth in container volume in 2014, handling a total of 6.4 million twenty-foot-equivalent units (TEUs) across its global operations portfolio. Gulftainer is a wholly-owned subsidiary of Sharjah-based Crescent Enterprises and operates Sharjah Container Terminal (SCT) located at Port Khaled in the heart of the city of Sharjah, Khorfakkan Container Terminal (KCT) ...

Expo Centre Sharjah chief executive officer Saif Mohammed Al Midfa has been elected as the chairman of Arabian Gulf Chapter of the International Association of Exhibitions and Events (IAEE), the leading association for the global exhibition industry. The IAEE’s Gulf chapter represents the region’s US$1.3 billion (AED 4.8b) meetings, incentives, conferences and exhibitions (MICE) industry. IAEE is the largest association ...

Sharjah Investment and Development Authority (Shurooq) and Air Arabia (AIRARABI:DFM), the largest low-cost carrier operator in the Middle East and North Africa, have signed an MoU to promote Sharjah’s strategic projects and brands across the globe. The MoU, signed by Mr Adel A. Ali, Group Chief Executive Officer, Air Arabia, and HE Marwan bin Jassim Al Sarkal, CEO of Shurooq, ...

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 ...

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-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 ...

Sharjah-headquartered Air Arabia (AIRARABI:DFM), the largest low-cost carrier operator in the Middle East and North Africa, has announced a net profit of AED 566 million (US$ 154m) for 2014, up 30 percent on its net profit for 2013. The airline’s turnover for 2014 increased by 17 percent to AED 3.7 billion (US$ 1b), driven by growth in passenger numbers. Air ...