The latest report from Sharjah Economic Development Department (SEDD) shows strong growth in Sharjah’s business sectors with a 13.6 percent increase in new trade licences issued by the department during the first half of this year. SEDD issued 3,183 new licences during the first half of 2015, compared to 2,802 in the same period last year. Overall 33,192 licenses issued ...

The Government of Sharjah was honoured at the 2015 London Sukuk Summit earlier this month where it was awarded the ‘Award of Excellence for Most Innovative Sukuk Issuance by a Sovereign Debt Issuer’. The award was given in recognition of Sharjah’s debut 10-year US dollar sukuk, which was issued at a size of US$750 million (AED 275b) in September 2014. ...

Sharjah Investment and Development (Shurooq) has been named the Top Investment Promotion Agency in the Middle East in Site Selection Magazine’s 2015 Best to Invest Awards, in recognition of the authority’s global initiatives to attract foreign direct investment to the Emirate of Sharjah. The award comes at a time of regional and global recognition for both Sharjah’s economy and Shurooq’s ...

Sharjah City Municipality‘s new AED 200 million (US$ 54m) headquarters has opened in Al Musalla in the centre of Sharjah city. The four-storey building has been constructed on a 100,000 square metre plot using environmentally-friendly building systems for lighting, ventilation and sewerage. The new headquarters has 200 rooms including prayer rooms for men and women, a library, a theatre, activity ...

Global credit rating agency Standard & Poor’s has affirmed the Emirate of Sharjah’s A/A-1 sovereign credit ratings long- and short-term, foreign and local currency, on the basis of Sharjah’s strong nominal GDP (gross domestic product) growth. The agency expects that Sharjah’s nominal GDP growth will remain strong, against the government’s relatively high interest burden. S&P also stated that Sharjah had ...

Sharjah’s higher degree of economic diversification compared to other Gulf Co-operation Council (GCC) members diminishes the impact of the recent oil price drop on the emirate’s economy, according to Moody’s Investors Service annual Sharjah Credit Analysis, published this week. Moody’s expects Sharjah’s economic growth to remain solid with a low government debt burden, although the report noted that debt levels are ...

Sharjah will showcase investment opportunities for local and global businesses and investors at the 5th edition of Annual Investment Meeting (AIM) from 30 March – 1 April 2015 at the Dubai International Convention and Exhibition Centre. Sharjah Investment and Development Authority (Shurooq) is a Silver Sponsor of the annual event. AIM is an emerging markets FDI-focused event established by the UAE ...

Moody’s Investors Services, has reconfirmed the Emirate of Sharjah’s strong “A3” long-term credit rating with a stable outlook. The international credit rating agency issued its first credit report on Sharjah in January 2014 an awarded an A3 stable rating reflecting the emirate’s credit strength, supported by its strong fiscal policy and low government debt position. Moody’s published a separate report ...

Sharjah’s Chamber of Commerce and Industry is to launch a new Sharjah Exports Development Centre next week. The centre will help promote and develop exports from Sharjah industries to regional and global markets. The Exports Development Centre is one of a wide range of initiatives undertaken by Sharjah government departments and authorities to help capitalise on the emirate’s strong economic ...

Bilateral trade between the emirate of Sharjah and China could grow by 11 percent during 2014 to reach US$5 billion (AED 18b) according to Sultan Abdullah bin Hadda Al Suwaidi, Chairman of Sharjah Economic Development Department (SEDD). Trade between Sharjah and China has grown sharply over the past few years, and is already five times the level of trade in ...