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Tag Archives: feature

Sharjah Islamic Bank issues AED 266.8 million convertible sukuk

Sharjah Islamic Bank (SIB) has issued a AED 266.8 million (US$ 73m) convertible sukuk equivalent to 10 percent of the bank’s share capital According to a statement from the bank, the sukuk has been converted into ordinary shares in the name of Sharjah Social Security Fund (SSSF), an entity established by royal decree in November 2017 to manage government pensions ...

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ARADA confirms AED1 billion loan for Sharjah mega-project

ARADA has arranged an Islamic syndicated loan of AED1 billion (US$ 274m) as financing for its the 24 million square foot master-planned community development, Aljada. The property developer’s finance facility was arranged by Abu Dhabi Commercial Bank (ADCB) and Dubai Islamic Bank as joint-lead arrangers and bookrunners. ARADA was formed in early 2017 as a joint-venture between KBW Investments and ...

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Sharjah’s achievements set stage for further economic growth

Improving oil prices, narrowing deficits and continued public spending are expected to support economic growth averaging 2.5 percent across the GCC next year, according to Moody’s Investors Services, while the credit agency predicts 2.7 percent real GDP growth for Sharjah in 2018. In Sharjah’s case, a wide range of achievements have helped it maintain stability in the face of regional ...

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Sharjah World Music Festival 2018 to begin on 13 January

The fifth edition of the most anticipated annual music event in the emirate, the Sharjah World Music Festival (SWMF) is back to entertain the UAE from 13 to 19 January 2018 (updated). It is presented by Sharjah Investment and Development Authority (Shurooq) in a strategic partnership with Sharjah Commerce and Tourism Development Authority (SCTDA) and Al Majaz Amphitheatre. Festival organiser, ...

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‘Invest in Sharjah’ leads government FDI workshop

Sharjah FDI office ‘Invest in Sharjah’, the promotional investment arm at Sharjah Investment and Development Authority (Shurooq), has held a workshop to draw more foreign investment into the emirate through increased government coordination. Held at the Business Centre in Al Qasba, the ‘Sharjah Attraction Investment Workshop’, was attended by representatives from Shurooq, Sharjah Chamber of Commerce and Industry (SCCI), Department ...

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AED 22 billion Sharjah 2018 budget announced

H.H. Dr. Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, has issued Law No. 10 2017 approving a general budget for the Emirate of Sharjah of AED 22.1 billion (US$ 6 billion) for the fiscal year 2018. According to Sharjah Finance Department (SFD), the budget has increased 6 percent compared to the final 2017 budget ...

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Indigo to launch two more Sharjah routes

IndiGo, India’s largest budget-carrier, will introduce non-stop flights to Sharjah from Lucknow (LKO) and Hyderabad (HYD) starting 29 December 2017, due to the growing demand for Sharjah connections. The airline launched its inaugural flight to Sharjah International Airport in March, connecting Sharjah with Kozhikode (Calicut), followed by the addition of a direct flight from Thiruvananthapuram (Trivandrum) in April. IndiGo will ...

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