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Strait of Hormuz

April 22nd, 2026 - 08:21 GMT

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 ...

The Saudi Arabian Monetary Authority (SAMA) has reported a 6.7 percent drop in foreign remittances in 2017, compared to the previous year. (AFP/ File)

February 1st, 2018 - 10:12 GMT

Foreign Remittances Fall to $37 Billion From $41 Billion in 2015: Saudi Arabia

As of December 2017, the total assets of Turkey's banking sector were 3.26 trillion Turkish liras ($862.7 billion), rising 19.4 percent, year-on-year. (Shutterstock)

February 1st, 2018 - 09:30 GMT

Turkey: Banking Sector’s Net Profit Hits All-Time High in 2017, With $13 Billion

Al-Faisaliah project is an important developmental step in the Kingdom’s march towards diversifying the economy and activating partnership with the private sector. (AFP/ File)

February 1st, 2018 - 08:43 GMT

Mecca's New Al-Faisaliah City Project to Provide 1 Million Jobs: Official

President Donald Trump and Jerome Powell, governor of the U.S. Federal Reserve and Trump's nominee for chairman of the Federal Reserve, walk to a nomination announcement in the Rose Garden of the White House in Washington, on November 2, 2017. (Saul Loeb/ AFP)

January 31st, 2018 - 06:00 GMT

Meet Jerome Powell, America’s New Top Banker

Gold prices edged higher on Wednesday, as investors looked ahead to the Federal Reserve's policy meeting, the last under the leadership of Janet Yellen. (Shutterstock)

January 31st, 2018 - 01:16 GMT

Gold Prices Rise Ahead of US Fed's Policy Meeting

Sometime in 2018, the US oil industry will do something it has not done in almost 50 years - produce more than 10 million barrels of oil in one day. (AFP)

January 31st, 2018 - 12:14 GMT

First Time in 50 Years: US Oil Production to Hit 10 Million Barrels a Day

The 2018 budget will be the last budget for Prime Minister Narendra Modi's government ahead of 2019's general elections. (Tobias Schwarz/ AFP)

January 31st, 2018 - 10:41 GMT

India's Budget 2018: What's in It for Non-Resident Indians?

The same report said Saudi families also pay some SR752 million for private lessons to their children at home every year. (Shutterstock)

January 31st, 2018 - 10:01 GMT

Saudi Parents Spend SR22 Billion on Education Every Year: Report

The UAE is showing a decrease in the number of jobs advertised with -10 percent last year. Salaries remain flat. More in this report. (File photo)

January 30th, 2018 - 06:00 GMT

Less Jobs, No Raises: Report Summarizes Working Conditions in UAE

After posting healthy surpluses for 16 successive years, Kuwait has posted a budget deficit in each of the past three years after oil prices began to slide in mid-2014. (AFP/ File)

January 30th, 2018 - 04:00 GMT

Kuwait Projects Deficit in 2018/19 Budget, for Fourth Year in a Row

On Monday, German carmakers came under fire following revelations that they helped finance experiments which saw humans and monkeys exposed to toxic diesel fumes. (Pexels)

January 30th, 2018 - 01:38 GMT

Monkey Scandal in Germany: Do Animal Rights Matter in Corporate West?

Car-hailing apps in Saudi Arabia, such as Careem and Uber, have increased their fares between 5 and 20 percent starting February 1. (File photo)

January 30th, 2018 - 11:29 GMT

Careem, Uber’s Fares up to Deal With ‘Financial Pressure’: Saudi Arabia