Economy

The UAE ranked first in the Arab world and 29th globally in the competitive industrial performance index issued by the United Nations Industrial Development Organization (UNIDO) 2022, as it rose two ranks compared to the year 2021, in the index that monitors the performance of 153 countries, leading the performance of countries at the regional level. For the second year ...

Arada has reported a record-breaking sales performance during the first half of the year, as buyer demand for its lifestyle communities in Sharjah and Dubai continues to gather pace. The master developer posted a 186 percent increase in sales in the first six months of 2023 compared to the same period in the previous year, with the total value of ...

Brokerage companies at the Dubai Financial Market added 26,953 new investor accounts in the first half of 2023. The market reportedly witnessed significant momentum since the announced listing of 10 governmental and semi-governmental companies, including the Dubai Electricity and Water Company (DEWA), the TECOM Group, and Union Coop, Salik, and Al Ansari, among others. The number of new investor accounts ...

The Sharjah Economic Development Department (SEDD) signed a Memorandum of Understanding (MoU) with the Sharjah Business Women Council (SBWC) to enhance cooperation and coordination between the two parties to provide high-quality services, by uniting efforts between the various entities and local authorities in Sharjah. The agreement aims to achieve the emirate’s vision in the field of digital transformation and contributes ...

“Sabaa Sanabel” flour, made from the wheat indigenously produced in Emirate of Sharjah, has clinched a new laurel becoming the first national product to obtain the “Made in the UAE” mark. The ‘Sabaa Sanabel’ wheat flour has met the highest quality and safety standards in force in the UAE, boosting its competitiveness in the market and earning the trust and ...

The Hamriyah Free Zone Authority (HFZA) has cemented its leading position and appeal for investment in the oil and energy sector following a deal with an Indian company Infinite Mining & Energy. Infinite announced that it is going to double its investment in the free zone and establish a multifunctional oil refinery. The new facility will have a daily production ...

Remarkable growth signifies the enduring appeal that Sharjah holds for businesses The emirate of Sharjah has recorded a spectacular year-on-year growth in its manufacturing sector with a sharp 7 percent increase in the renewal of industrial licences in 2022, according to the Sharjah FDI Office (Invest in Sharjah). This was announced by the office during its participation in the second ...

The Ministry of Finance (MoF) has called on the public to rely only on official publications and posts issued by MoF and the Federal Tax Authority (FTA) regarding the Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses (the Corporate Tax Law) and the associated Cabinet and Ministerial Decisions. The Ministry said a number of posts ...

Sharjah Economic Development Department “SEDD” succeeded in passing the procedures of the periodic follow-up visit to the ISO 9001:2015 Quality Management System Certificate after passing the audit phase on all work procedures followed by it, and ensuring that all conditions and requirements of the total quality system in its various departments are met. The scope of the application of this ...

Sharjah’s gross domestic product grew by 5.2 per cent last year, driven by economic diversification efforts that are aligned with the emirate’s development strategy. The emirate registered Dh136.9 billion ($37.2 billion) in GDP earnings last year compared with Dh130.1 billion in 2021, Sharjah’s Department of Statistics and Community Development said on Tuesday. The DSCD data is based on a survey ...