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E-commerce, delivery services post highest growth rates in August, says SEDD (24 September 2020)
The Sharjah Economic Development Department, SEDD, announced an increase of more than 100 percent in activities such as e-commerce, delivery services.

Sharjah Announces Guidelines For Travellers (24 September 2020)
Travel guidelines Travel is now permitted for all citizens and residents through the ports of Sharjah to or from any destination in accordance with the procedures of respective countries of origin, the officials said.

Qatar Will Not Establish Ties With Israel (21 September 2020)
The day after Israel and the United Arab Emirates announced a treaty between the two countries, Qatar said that it will not establish diplomatic relations with Israel until the conflict with the Palestinians is resolved.

Low-Cost Funding For Shams’ Members Through Partnership With Beehive (14 September 2020)
Shams helps entrepreneurs and small businesses set up in a cost-effective free zone, providing support and opportunities for those wanting to start, relocate or expand their business in Sharjah.

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Sheraa pledges $1-mn solidarity fund for start-ups

The Sharjah Entrepreneurship Center (Sheraa), has pledged a $1 million solidarity fund to help start-ups that are under strain due to the COVID-19 pandemic. In honour of the #UbuntuLoveChallenge, a global initiative spearheaded by Sheikha Bodour bint Sultan Al Qasimi and thought leader, Mamadou Kwidjim Toure, founder of the Africa 2.0 Foundation, the fund will aid start-ups ensuring they remain afloat, and tide over these uncertain times. The fund will be distributed through equity-free grants and commissioned projects.

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Sharjah Islamic Bank net profit increases to reach AED153.7 million

Sharjah Islamic Bank, SIB, has projected strong results despite the current situation, with net profits totaling AED153.7 million in the first quarter of 2020 compared to AED151.7 million in 2018, an estimated 1.3 percent increase. The balance sheet reflects the bank’s strong performance and sound financial position with total assets reaching AED49.3 billion at the end of March 2020, a 6.2 percent increase in comparison to AED46.4 billion recorded at the end of 2019. Liquid assets reached AED9.7 billion or 19.8 percent of total assets at the end of March 2020. During the month, the bank also repaid $500 million Sukuk from its own liquidity sources, strengthening the bank’s liquidity management.

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3:51:11 PM , 26 Sep 2020

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