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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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Bitcoin and other cryptocurrencies could be used to send funds to Iran, bypassing sanctions imposed by the US. (AFP/ File)
February 22nd, 2018 - 12:07 GMT

Iran Could Turn to Its Own Cryptocurrency, to Avoid US Sanctions

On May 2, 2017, Singapore-based Changi Airports said in a statement that it had won the license to run the airport for a 20-year term. (Courtesy of GACA)
February 22nd, 2018 - 10:57 GMT

Changi Airports Loses Deal to Manage Jeddah Airport, 10 Months After Tender

The meeting will be held in Doha, on April 11 and 12. (Karim Jaafar/ AFP)
February 22nd, 2018 - 06:00 GMT

Qatari, Omani Businessmen Prepare for Business Meeting in April

The volume of trade exchange between Egypt and the rest of the world is up, so is Egypt's trade deficit. (File photo)
February 21st, 2018 - 11:59 GMT

Egypt’s Trade Deficit at $8.9 Billion for July-September 2017: Central Bank

The value of remittances sent home by Filipinos in the UAE grew to significant levels in 2017. (File photo)
February 21st, 2018 - 11:22 GMT

Filipinos Send Biggest Remittances in 2017: Report

More than 5,000 events are planned for Saudi Arabia in 2018, including a circus. (Shutterstock)
February 21st, 2018 - 10:26 GMT

Concerts and Fashion Shows: Saudi Arabia Unveils Entertainment Line-Up for 2018

Saudi Arabia on Tuesday approved an agency under the Ministry of Labor to facilitate the employment of Saudis in the private sector. (AFP/ File)
February 21st, 2018 - 10:11 GMT

Saudi Arabia Approves Special Unit to Employ Saudis in Private Sector

The report said little relief was expected until Expo 2020. (File photo)
February 21st, 2018 - 06:00 GMT

Dubai Real Estate Slump to Continue for Another Two Years: Report

Facebook's stock price, since its IPO in 2012, has surged more than three-fold. But the best is yet to come. (Shutterstock)
February 20th, 2018 - 05:00 GMT

Facebook Will Continue to Be a Money-Making Machine: Here’s Why

Construction of Deira Mall will begin this year, with completion expected in 2021. (Courtesy of Nakheel)
February 20th, 2018 - 04:00 GMT

In Pictures: Nakheel Unveils New Mega-Mall in Dubai, Middle East's Biggest

The U.S. dollar inched higher versus a basket of major currencies on Tuesday. Oil markets were split. (Shutterstock)
February 20th, 2018 - 02:07 GMT

Strong U.S. Dollar, Mixed Oil: Top 5 Things to Know in the Markets Today

The insurance coverage of King Tut's belongings to be shown abroad was valued at $862 million, said Egypt's Minister of Antiquities Khaled El-Anany. (Shutterstock)
February 20th, 2018 - 12:33 GMT

King Tutankhamun’s Trip Abroad Costs Egypt $862 Million: Minister of Antiquities

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