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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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Manama rises from its 17th rank in the purchase power index of 2015. (Shutterstock)
May 31st, 2018 - 07:52 GMT

Manama Broke Into the Top 10 Cities in Purchasing Power Globally

The UAE’s real estate sector is maturing and is poised for growth in the longer term. (Shutterstock)
May 31st, 2018 - 07:48 GMT

Real Estate Sector in GCC Is on a Recovery Path

Certain townhouse communities are very well-priced on the rental market in Dubai. (Shutterstock)
May 31st, 2018 - 07:41 GMT

Now Is the Time to Upsize Your Home in Dubai

The retail sales of gold and diamonds are still fully subject to VAT at five per cent. (Shutterstock)
May 31st, 2018 - 06:48 GMT

FTA Clarifies VAT on Gold, Diamond Deals in UAE

Energy ministers from Saudi Arabia, the United Arab Emirates and Kuwait plan to meet on Saturday, 2 June, to discuss OPEC matters. (Shutterstock)
May 30th, 2018 - 10:38 GMT

Saudi, Kuwait and UAE Plan Meeting on OPEC

The average rental return on investment achieved on apartments in Dubai last year was seven per cent, while villas made five per cent. (Shutterstock)
May 30th, 2018 - 10:29 GMT

What Makes Dubai a 5-Star Real Estate Investment Destination

The country signed its first offshore oil and gas exploration and production agreement for two of Lebanon’s 10 offshore blocks on Feb. 9, 2018. (Shutterstock)
May 30th, 2018 - 10:18 GMT

First Phase of Lebanon Oil Exploration Set to Begin This Week

A global network of computers uses blockchain to jointly manage the database that documents digital currency transactions. (Shutterstock)
May 30th, 2018 - 08:48 GMT

How Digital Currencies Complement Fintech

Big and small retail firms have achieved 24 percent Saudization, with grocery stores registering 10 percent of the total Saudi employees in the sector. (Shutterstock)
May 30th, 2018 - 08:26 GMT

Good News for Saudis: 490,000 New Jobs in Retail Sector

Qatari lenders are particularly exposed to new accounting rules aimed at providing for the possibility of bad loans according to a new report. (Shutterstock)
May 30th, 2018 - 07:25 GMT

Qatari Banks Exposed to New Banking Bad Loan Rules

Dubai is exempting companies from administrative fines in a fresh effort to stimulate business. (Shutterstock)
May 30th, 2018 - 07:15 GMT

Dubai Cancels Corporate Fines to Boost Business

Dubai is more economical than most cities in the Western world. (Shutterstock)
May 30th, 2018 - 07:00 GMT

Cost of Living: Dubai More Economical Than Most of Its Peers

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