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The Editor

Increased production levels & hydrocarbon prices boost Dana Gas net profit by 70%

Sharjah-based energy company Dana Gas PJSC (DANA:ADX) has announced a 70% rise in net profits for the second quarter of 2014 totaling US$ 46 million (AED 169 m), citing an increase in production across its projects and higher realised hydrocarbon prices. The company, which is the Middle East’s largest regional private sector natural gas company, reported an increase in average overall production ...

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Sharjah’s Bee’ah steps-up production to recycle 3 million tyres per year

Sharjah’s award-winning integrated environmental and waste management company, Bee’ah, has stepped-up its tyre recycling efforts to process 3 million tyres per year. The company’s US$40million (AED 146.9m) recycling facility outside Sharjah city has already produced 3,565 tonnes of crumb rubber this year, equivalent to 90% of last year’s total production. Bee’ah is leading the way for tyre recycling in the ...

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Dates for 2015 Sharjah World Forum for FDI confirmed

Organisers of the annual World Forum for Foreign Direct Investment, Conway Data and Red Hot Locations, and hosts, the Sharjah Investment and Development Authority (Shurooq), have announced the dates for next year’s forum. The Sharjah World Forum will take place from 8 to 10 February 2015*. Held annually in locations around the world, the World Forum provides a platform for ...

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Delta Foods invests US$11m in SAIF Zone factories to ramp up production

Delta Food Industries (FZC), one of the UAE’s fastest growing food exporters, will invest AED 40 million (US$ 11m) in expanding its manufacturing and packaging facilities in the Sharjah Airport International Free Zone (SAIF Zone). According to the manufacturer, which was established in Sharjah in 2011, the expansion is to help ramp up production to meet the growing needs of ...

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Eid holiday expected to boost Sharjah tourist numbers

Sharjah’s tourism sector expects a boost from visitors during the Muslim holy month of Ramadan and the following Eid Al Fitr holidays, which begin next week. The UAE is a popular destination for Eid vacations within the region, where some Middle Eastern countries will celebrate the end of Ramadan with holidays up to 9 days long. Whilst figures are awaited ...

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Surge in profits underscores strength & stability of Sharjah’s banking sector

Two of Sharjah’s leading banks, Sharjah Islamic Bank (SIB) and United Arab Bank (UAB), have announced increased profits for the first half of 2014 this week underscoring the strength of the emirate’s banking sector. Sharjah-headquartered UAB announced a 26% increase in net profit in the first half of 2014 compared to the same period last year, reaching AED 328 million ...

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Sharjah’s strong tourism growth underpins new hotel investment

UAE-based Hospitality Management Holdings (HMH) is the latest hotel management group to announce a major investment in Sharjah, unveiling a US$4 million (AED 15m) project to refurbish Sharjah’s popular Coral Beach Resort. A number of hotel projects have already been announced this year, including new properties from Accor, Hues and Starwoods, plus several planned hotels as part of tourism development projects ...

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Sharjah invests in infrastructure to improve road traffic

Sharjah’s Roads and Transport Authority (RTA Sharjah) has announced a number of new projects to improve road traffic flow, ease congestion and increase road safety. The Authority appointed consulting services company W.S. Atkins earlier this year to conduct a comprehensive 6 month study on Sharjah’s road traffic to include traffic congestion, pollution and road safety RTA Sharjah has announced the first ...

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Sharjah plans first international Islamic bond issue

The emirate of Sharjah is planning to issue its first sovereign sukuk, the Islamic equivalent of a sovereign bond, and has approached three banks to manage the issue, according to global news agencies. The value of Sharjah’s sovereign sukuk is yet unknown, but banking sources say that they expect the launch of the new bond to take place as early ...

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American University of Sharjah MBA ranked best in Middle East

The American University of Sharjah (AUS) MBA programme has been ranked the best in the Middle East region by Quacquarelli Symonds (QS) in its 2014 Global Business Schools Report. The report ranked programmes in the region based on the demands of international employers for MBA graduates. QS is a British company specialising in education and study abroad. The QS Global ...

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