UAE In-Focus — Sharjah airport sees passenger growth rate of 141%

Aircraft movement at the airport also rose 81.65 percent by the end of the third quarter (Shutterstock)
Short Url
Updated 24 October 2022
Follow

UAE In-Focus — Sharjah airport sees passenger growth rate of 141%

RIYADH: Sharjah Airport witnessed a passenger growth rate of 141 percent at the end of the third quarter as the aviation sector shows strong signs of rebounding after the negative impacts caused by the pandemic. 

The number of passengers stood at 9.5 million, compared to 3.9 million in the same period last year, according to a press release.

Aircraft movement at the airport also rose 81.65 percent, with 64,780 flights by the end of September, as compared to 35,662 flights at the end of the third quarter of 2021. 

The press release further noted that the total cargo handled by Sharjah Airport since the beginning of the year amounted to 135,038 tons, marking a growth rate of 38.71 percent. 

“With this, the airport not only has achieved a remarkable position in terms of statistics and numbers, but also provided high-quality services and achieved customer satisfaction through its smart travel services, digital services, and smart solutions,” said Ali Salim Al-Midfa, chairman of Sharjah Airport Authority. 

DMCC signs MoU with Logis

Dubai Multi Commodities Center has signed a memorandum of understanding with Logis, an agri-logistic free trade zone that is being constructed in Panama. 

According to a statement from the Dubai government, Logis is expected to become the largest free trade zone of its kind in Central and Latin America. 

The MOU was signed by Ahmed Bin Sulayem, executive chairman and CEO of DMCC, and Sandro Salsano, president of Salsano Group and majority shareholder of Logis. 

“Panama stands as the gateway between Central and South America and Logis is perfectly positioned to host the largest free zone of its kind in the region, especially where agriculture commodities trade is concerned,” said Bin Sulayem. 


Closing Bell: Saudi main index closes in red at 10,847

Updated 25 February 2026
Follow

Closing Bell: Saudi main index closes in red at 10,847

RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Wednesday, losing 58.51 points, or 0.54 percent, to close at 10,847.93.

The total trading turnover of the benchmark index was SR3.78 billion ($1 billion), as 73 of the listed stocks advanced, while 187 retreated.

The MSCI Tadawul Index decreased, down 7.09 points or 0.48 percent, to close at 1,472.98.

The Kingdom’s parallel market Nomu lost 178.75 points, or 0.77 percent, to close at 22,916.83. This comes as 30 of the listed stocks advanced, while 37 retreated.

The best-performing stock was the Power and Water Utility Co. for Jubail and Yanbu, with its share price surging by 8.47 percent to SR31.24.

Other top performers included Saudi Paper Manufacturing Co., which saw its share price rise by 6.13 percent to SR53.70, and Jamjoom Pharmaceuticals Factory Co., which saw a 4.58 percent increase to SR137.

On the downside, the worst performer of the day was CHUBB Arabia Cooperative Insurance Co., whose share price fell by 5.14 percent to SR17.53.

Saudi Kayan Petrochemical Co. and Arabian Internet and Communications Services Co. also saw declines, with their shares dropping by 4.87 percent and 4.43 percent to SR4.88 and SR181.40, respectively.

On the announcement front, Saudi Kayan Petrochemical Co. announced its annual financial results for 2025, with sales dropping 3.06 percent year-on-year to SR8.45 billion. The company also recorded a net loss of SR893.86 million.

In a Tadawul statement, the company said the net loss and decline in annual sales were driven by a drop in average selling prices, despite higher sales volumes.