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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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On average, female-founded companies create over 60 per cent more value for investors than those founded by men. (Shutterstock)
April 29th, 2018 - 09:06 GMT

Middle East Economies Is Closing More Than 60 Percent of Its Overall Gender Gap

Dubai has been taking a pioneering role in self-driving cars, automated ports, testing of delivery robots and drones and social robots among others. (Shutterstock)
April 29th, 2018 - 08:43 GMT

Dubai Among World's Top 3 Model Smart Cities

Bitcoin has inevitably brought change to how we perceive - and perhaps, make - investments. (Shutterstock)
April 29th, 2018 - 08:31 GMT

Let's Talk Crypto, 'What Really Is Bitcoin?'

SWVL closed an $8 million Series A funding. (Shutterstock)
April 29th, 2018 - 06:57 GMT

SWVL Raises $8 Million Funding, the Biggest in Tech Start-Up History in Egypt

With so much focus on bitcoin lately, we've added a new weekly update that tracks the three largest cryptocurrencies by market share. (Shutterstock)
April 26th, 2018 - 09:50 GMT

Top 3 Cryptocurrencies by Market Share in 2018

In February, the amount of net foreign direct investment (FDI) rose by nearly 12 percent year-on-year. (Shutterstock)
April 26th, 2018 - 07:51 GMT

Turkey Earns Over $500 Million net Investment in February

Rents in certain communities in Dubai can cost a year's salary, but other locations offer some bargains. (Shutterstock)
April 26th, 2018 - 07:35 GMT

Top 10 Cheapest Places to Rent in Dubai

Saudi Arabia's aim is to increase the private sector contribution to gross domestic product from 40 percent to 65 percent by 2030. (Shutterstock)
April 26th, 2018 - 07:20 GMT

Saudi Makes Ports, Schools and Hospitals Priorities in Privatization Plan

The emirate has benefitted from policy changes granting Chinese and Russian holders visa on arrival entry. (Shutterstock)
April 25th, 2018 - 11:22 GMT

Dubai Is Pushing for Indian Nations to Be Given UAE Visa on Arrival

Both major oil producers have moved closer together in the face of increasing U.S. sanctions pressure. (Shutterstock)
April 25th, 2018 - 09:17 GMT

Russia Eyes an Interim Trade Agreement With Iran

Economies with high income elasticity of demand also have high price elasticities, suggesting oil may be capped at $80/b. (Shutterstock)
April 25th, 2018 - 08:15 GMT

Oil Is on the Boil Again as Price Tops $75 a Barrel

Inflation leapt to 3 percent year-on-year in the immediate aftermath of the introduction of a 5 percent VAT charge in January. (Shutterstock)
April 25th, 2018 - 07:08 GMT

Saudi Inflation Starts to Decline as VAT Impact Lessens

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