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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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As oil prices have risen, Saudi Arabia's drawdown on foreign reserves has eased and now stabilised. (Shutterstock)
May 7th, 2018 - 06:56 GMT

This is Why Saudi Arabia's Oil Reliance Continues

The economy in Lebanon is growing slowly at a rate of 2 to 2-1/2 percent. (Shutterstock)
May 6th, 2018 - 10:11 GMT

Lebanon Must Counter 'Unsustainable' Fiscal Deficit: IMF

Gold jewellery demand in the GCC slumped in the first quarter. (Shutterstock)
May 6th, 2018 - 09:12 GMT

What's Wrong With Gold in the GCC?

The pace of growth in the Bahrain Kingdom ‘accelerated markedly’ in 2017 compared to 3.2% in 2016. (SG)
May 6th, 2018 - 08:13 GMT

Bahrain GCC’s Fastest Growing Economy with 3.9 Percent in 2017

In Q1 2018, 2,431 female investors purchased over Dh4.4 billion in the Dubai property market, according to the Dubai Land Department. (Shutterstock)
May 6th, 2018 - 08:04 GMT

Women Accounted for 30 Percent of Dubai Realty Transactions in Q1 2018

Some crypto assets will pick up where they left off. (Pixabay)
May 3rd, 2018 - 09:30 GMT

Where We Are Today With Cryptos in the Boom Bust Cycle

The new insurance claims center, which is run by an all-female staff, aims to support women drivers and car owners. (SG)
May 3rd, 2018 - 08:56 GMT

Saudi Arabia Opens Its First Auto Insurance Claims Center for Women

One of the major tourist attractions of the UAE is the jewellery sector that generates billions of dollars in revenue every year. (Shutterstock)
May 3rd, 2018 - 07:35 GMT

UAE's Jewellers Hope for VAT Exemption on Retail Sales

Doha is already selecting brokers to deal with selling a hotel chain managed by Intercontinental Group in the cities of Cannes in France, Amsterdam and Frankfurt. (Shutterstock)
May 3rd, 2018 - 07:11 GMT

Qatar Considers Selling Sovereign Asset to Deal With Boycott

His Majesty King Abdullah holds a meeting with Japanese Prime Minister Shinzo Abe, attended by HRH Crown Prince Hussein, in Amman on Tuesday (Courtesy of Royal Court)
May 3rd, 2018 - 06:57 GMT

Japan Eye Wider Economic Cooperation With Jordan

The MoM revealed that 26,103 citizens had been employed in the private and public sectors. (Shutterstock)
May 2nd, 2018 - 01:00 GMT

More Than 26,000 Omani Citizens Employed as Part of the Country’s Recruitment Drive

In 2017, UAE, Kuwait and Saudi Arabia registered growth in earnings of 62 per cent, 10 per cent and 9 per cent, respectively. (Shutterstock)
May 2nd, 2018 - 09:53 GMT

Corporate Earnings in the GCC Increased by 16 Percent in 2017: Markaz

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