Economy

Sharjah Economic Development Department (SEDD) released the data results for the past year 2023. The report included the most important developments and events witnessed by the economic sectors and the procedures and efforts taken by the Department in all sectors and activities. This is done to provide a comprehensive tool for customers in the economic sectors in Sharjah and introduce ...

The UAE continues to hold its position at 10th place in the Brand Finance Soft Power Index 2024 for the second consecutive year, standing as the only Gulf nation among the world’s top 10 soft powers. The announcement came during the annual Global Soft Power Summit, which was held in the British capital, London, in the presence of a group ...

According to a monthly report on the “Real Estate and Mortgages movement” issued by Sharjah Real Estate Registration Department, it was revealed that the real estate sector in Sharjah has recorded a significant growth during January 2024, as the volume of real estate transactions in the emirate reached AED 3.9 billion. This rate constitutes a huge increase compared to January ...

S&P Global Ratings, the world’s leading credit rating agency, expects the UAE’s real GDP to grow by 5.3 percent in 2024, compared to 3.4 percent in 2023. In a new report released today, the credit rating agency said that UAE banks reported exceptional profits for the full year 2023 due to lower provisioning requirements and higher interest margins, in addition ...

The UAE’s Comprehensive Economic Agreement with Cambodia has officially entered into force, promising to enhance trade flows, create opportunities for strategic investment, and accelerate economic diversification for both countries. The agreement will do so through the removal or reduction of tariffs on more than 92% of product lines, eliminating unnecessary barriers to trade, and improving market access for service exports. ...

The Sharjah Chamber of Commerce and Industry (SCCI) has announced a series of significant achievements made over the course of the past year (2023), underscoring its multifaceted endeavours in bolstering the business community. In 2023, the Chamber saw a notable increase in its total registered memberships, reaching 72,187, with 7,160 new members joining—a growth rate of 10 pertcent from the ...

As the Sharjah Real Estate Exhibition (ACRES 2024), one of the UAE’s premier gathering for the real estate industry, concluded closing deals that surpassed AED 1.4 billion, one of the exhibition’s participants – the Sharjah Investment and Development Authority (Shurooq) – came out as a top performer, contributing over AED 177 million to the total sales made on during the ...

Serving as a global hub and a one-stop business centre committed to creating an ecosystem to cater to the vibrant business landscape in Sharjah, the Sharjah Publishing City Free Zone (SPC Free Zone) has unveiled its latest offering — the “Instant License Service.” This unique and comprehensive instant business licence has been developed to redefine the process of establishing businesses ...

The United Arab Emirates (UAE) has secured its position as the world’s second-highest recipient of greenfield Foreign Direct Investment (FDI) announcements in 2023, following closely behind the United States. The revelation comes from the latest report by the United Nations Conference on Trade and Development (UNCTAD). The report sheds light on the UAE’s remarkable 28 percent increase in greenfield FDI announcements in ...

Foreign Direct Investment (FDI) serves as the lifeblood for the growth of numerous economies, playing a pivotal role in propelling the development of diverse sectors in the Middle East, particularly those extending beyond the confines of the oil industry. Sharjah in particular is rapidly establishing itself as a burgeoning hub for FDI, a testament to its strategic appeal in the ...