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Sharjah GDP rises to AED92.7b in 2017

Sharjah’s gross domestic product (GDP) reached AED92.7b in 2017, increasing by an average of 4.7 per cent, according to figures released by the Sharjah Economic Development Department. Sultan Abdullah bin Hadda Al Suwaidi, Chairman of Sharjah Economic Development Department, (SEDD) said that the increase in GDP reflects the wise vision of His Highness Sheikh Dr. Sultan bin Mohamed Al Qasimi, ...

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Sharjah’s non-oil GDP exceeds $24bn in 2018

Sharjah Economic Development Department report says non-oil sectors account for 91.9% of the emirate’s total GDP Sharjah’s 2018 non-oil GDP hit AED89 billion ($24.2 billion), according a report issued by Sharjah Economic Development Department (SEDD), with all non-oil sectors accounting for 91.9 percent of the emirate’s total GDP. The report, cited by state news agency WAM, said that the transport, ...

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S&P lowers Sharjah credit rating, forecasts GDP growth for 2017-2020

Global credit rating agency Standard & Poor’s has lowered its long- and short-term foreign and local currency sovereign credit ratings on the Emirate of Sharjah from ‘A/A-1’ to ‘BBB+/A-2’ with a stable outlook. The agency attributed the change largely to an increase in government debt and slower than expected fiscal consolidation. S&P also forecasts faster economic growth in 2017, increasing ...

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Sharjah’s GDP growth rate could reach 13%

The Emirate of Sharjah’s gross domestic product (GDP) growth could reach 13 percent in 2014, according to comments made by Hussain Mohamed Al Mahmoudi, director-general of Sharjah Chamber of Commerce and Industry to UAE newspaper Khaleej Times. Al Mahmoudi informed the paper that the Chamber expected the emirate’s GDP to reach AED 113 billion (US$30.8 b) this year compared to ...

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Sharjah achieves strong 8% GDP growth in 2013

The emirate of Sharjah’s gross domestic product (GDP) grew by 8 percent during 2013, according to new statistics released by the United Arab Emirates Ministry of Economy this week. According to the Ministry, Sharjah’s economy fared well during the last global financial crisis and bounced back from -5 percent GDP downturn in 2009 to +4 percent GDP growth in 2010, 7 ...

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Sharjah initiates Dhs4 billion liquidity support to counter impact of virus

A breathtaking view of the Sharjah Corniche. The authorities in Sharjah and across the region are taking the required measures to provide maximum assistance to all businesses. The Sharjah Finance Department, SFD, recently established a framework worth Dhs4 billion to enhance liquidity for the banking system in the emirate. The move aims to provide additional financial assistance to all businesses ...

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Sharjah records 3% increase in hotel guests in 2019

The Sharjah Commerce and Tourism Development Authority, SCTDA, revealed that the emirate recorded a three percent growth in the number of hotel guests in 2019 as compared to 2018. The sector welcomed approximately 1.8 million guests last year with a hotel occupancy rate of 66 percent. Guests from the Russian Federation topped the list, followed by GCC countries such as ...

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Discovery of new gas field to bolster Sharjah’s economy

The Mahani gas discovery is poised to boost Sharjah’s strategic position as a reliable supplier.gas Imran Mojib, Special Correspondent A number of officials, specialists and experts have stressed that the discovery of a new gas field in Sharjah will significantly enhance the Emirate’s economic resources and support the economic development and goals of the Emirate. Sharjah remains one of the ...

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Invest in Sharjah invites Chinese firms to explore Emirate’s capacity

As part of its continuous and strategic support of Sharjah-China bilateral relations, the Sharjah FDI Office (Invest in Sharjah), in association with Sharjah Media City (Shams), organised the first-ever Sharjah-Shenzhen Business Seminar on June 28, 2019, in Shenzhen, China. The seminar’s attendees included a large sum of senior government and business officials from Shenzhen’s private and public sector. The seminar ...

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