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Strait of Hormuz
April 22nd, 2026 - 08:21 GMT
Sally Shakkour

Sally Shakkour

Crypto scam scandal: Ships pay fake IRGC officials to pass at Strait of Hormuz

ALBAWABA - A new scandal has deepened the crack in the Strait of Hormuz following the discovery of a scam group luring ships, strained at the waterway due to closure by the Islamic Revolutionary Guard (IRGC), for money for a safe passage. According to news reports, the Indian-flagged oil tanker 'SANMAR HERALD', which was fired upon by Iranian gunboats last Sunday, fell victim to a crypto scam. In detail, the ...
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Current bank guarantees worth Dh14 billion will be released back into the local economy. (Shutterstock)
June 18th, 2018 - 07:24 GMT

Reforms Will Ease Cost of Doing Business in UAE

Saudi Arabia has paid $4.2 billion to its citizens as part of the government’s Citizen Account Programme to support nationals against rising prices and newly-imposed taxes. (Shutterstock)
June 17th, 2018 - 09:28 GMT

Saudi Arabia to Aid Unemployed Citizens With a $4.2 Billion Free Pass

Local sectors needs to contend with changes in consumer behaviour, especially in e-commerce. (Shutterstock)
June 17th, 2018 - 09:22 GMT

How UAE's Insurance Industry Is Changing

The price hike is expected to add more pressure on Egyptian consumers. (AFP)
June 17th, 2018 - 09:08 GMT

Egypt Raises Petrol Prices by up to 50 Percent

The doodle, created by 32 artists from different countries, depict exciting fans with drums and other instruments, who are welcoming the quadrennial tournament with great pomp and fervour. (Google)
June 14th, 2018 - 07:59 GMT

Google Honours FIFA World Cup's Cultural Diversity

Turkish minister says train to start operating on June 18 from Iran's Tabriz to eastern Turkey's Van province. (Shutterstock)
June 14th, 2018 - 07:22 GMT

Turkey, Iran to Start Passenger Rail Service Soon

Qatar also announced a $500 million investment package targeting Jordan's infrastructure and tourism projects. (QT)
June 14th, 2018 - 07:08 GMT

Qatar Pledges 10,000 Jobs, $500 Million Aid for Jordan

Egyptians are expected to pay up to 20.9% rise in a household, and factories are expected to pay up to 41.8% rise. (Shutterstock)
June 14th, 2018 - 07:02 GMT

Egypt’s Electricity Prices to Hike by 26 Percent This July

Iranian officials have said nuclear activities could be resumed. (Shutterstock)
June 14th, 2018 - 06:55 GMT

Iran Says It Cannot Remain in Nuclear Deal Without Benefits

Residential properties in Riyadh. The Saudi government aims to boost home ownership among citizens from 50 percent to 60 percent. (Shutterstock)
June 14th, 2018 - 06:45 GMT

Fixed-Rate Mortgages to Boost Saudi Arabia’s Home Ownership

The UAE's new measures should offer relief for businesses across all sectors. (Shutterstock)
June 14th, 2018 - 06:36 GMT

UAE's Reform Measures to Offer Relief for Businesses Across All Sectors

The Kingdom’s production was up 100,000 barrels per day (bpd) to 10.02 million barrels. (Shutterstock)
June 14th, 2018 - 06:30 GMT

Saudi Arabia Raises Oil Output Amid Fears of Supply Crunch

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