Business

American University of Sharjah (AUS) has appointed Hussain Al Mahmoudi as Chief Executive Officer of AUS Enterprises, a new holding company mandated to develop revenue-generating commercial activities for AUS via special purpose vehicles. AUS Enterprises was established by Amiri decree in November 2015. The appointment of the new CEO was approved by the AUS Board of Trustees, chaired by His ...

Sharjah headquartered United Arab Bank (UAB) has announced the successful closing of an US$120 million credit facility for client, Aegean Oil Terminal Corporation (Aegean). The credit facility marks the first syndicate lead for UAB, as it seeks to position itself as a lead arranger. Other syndicate members are Abu Dhabi Commercial Bank (ADCB), Commercial Bank of Dubai and National Bank ...

Sharjah-headquartered terminal operator Gulftainer has been presented with the ‘Port Operator Award’ at the Lloyd’s List Middle East and Indian Subcontinent Awards 2015. Lloyd’s List provides information, analysis and knowledge for business decision makers in the global shipping community. The annual awards were held on 9 December 2015 in Dubai, where CEO International Operations Flemming Dalgaard received the award on ...

Baalbaki Chemical Industries (BCI) has officially opened a new 15,000 square metre polyester and pre-polymer manufacturing plant in Sharjah’s Hamriyah Free Zone. The new production facility is the company’s first in the United Arab Emirates and adds 40,000 metric tonnes to the group’s capacity. Already a leading supplier of polyurethane systems and polyurethane raw materials, BCI has an existing production ...

Sharjah Port and Customs Authority has taken delivery of a new 80 foot harbour tug boat from Damen Shipyards Sharjah, for use at the emirate’s east coast Khorfakkan Port. The new Damen ASD Tug 2411, which is named Al Luolo’Aya, is the first ‘made in Sharjah’ tug to be put to work by the ports authority. Located in Hamriyah Free ...

Sharjah Airport International Free Zone (SAIF Zone) is constructing 127 new warehouses with a total area of 561,750 square feet within the Free Zone Industrial Park Area of the zone. The new warehousing is one of a number of expansion projects planned in response to the increasing demand facilities in the zone, which houses approximately 7,000 companies. SAIF Zone’s strategic location ...

Sharjah-headquartered Air Arabia, the largest low-cost carrier operator in the Middle East and North Africa, has confirmed that it is considering an investment in FlyEasy, a new Indian budget airline that has yet to launch. According to the International Air Transport Association (IATA), India’s domestic airline business is currently the fastest growing in the world, showing a ​13.2 percent growth ...

Sharjah-headquartered regional budget carrier Air Arabia and business aviation services operator, Gama Aviation Sharjah, were honoured at the recent Aviation Business Awards (ABA). Organised by magazine publisher ITP Ltd, the annual Aviation Business Awards celebrate the achievements of the Middle East aerospace industry over the past 12 months. Air Arabia was named both ‘Low Cost Airline of the Year’ and ...

Gulf Petrochem Group, a leading Sharjah-based conglomerate with a business unit specialised in petrochemical trading, storage and transportation, has opened it’s new 203,888 cubic metres (cbm) liquid storage terminal at Hamriyah Free Zone. The new storage terminal, which will become fully operational this month, will be able to store all classes of petroleum products such as fuel oil, gas oil, ...

In a strategic move aimed at boosting mutual growth, two of Sharjah’s leading establishments, Expo Centre Sharjah and Air Arabia, have decided to join hands in a three-year cooperation agreement. A Memorandum of Understanding, MoU, aimed at maximising visibility and branding of both parties in the best possible ways, was signed on Monday 12th October by Saif Mohammed Al Midfa, ...