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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 ...

Bitcoin has all the hallmarks of a speculative bubble but the global economy will be fine even if it bursts, analysts say. (Shutterstock)

January 18th, 2018 - 01:00 GMT

Bitcoin Bubble Will Burst, But No Big Deal

The main driver behind the restoration of Egypt’s economic competitiveness was the decision to float the pound in November 2016, the report states. (Shutterstock)

January 18th, 2018 - 11:42 GMT

Egypt’s Economy to Record Region’s Strongest Growth by 2019: Report

Saudi Arabia issued a directive on Wednesday to transfer $2 billion to Yemen’s central bank to "alleviate the suffering" of the Yemeni people. (AFP)

January 18th, 2018 - 10:57 GMT

Yemenis Hail $2 Billion Saudi Cash Injection, Rial Soars

Careem is reportedly in early talks about a potential IPO in early 2019. (File photo)

January 18th, 2018 - 10:16 GMT

Careem in Early Talks for IPO in 2019: Bloomberg

Food security in Kuwait is not limited to adequate supply, but also includes salubrity, food freshness and unlimited access to food. (AFP)

January 18th, 2018 - 09:39 GMT

Kuwait Most Food-Secure Country in Arab World: Experts

More people have visited Qatar in the past few months as a result of Qatar’s new visa-free entry to nationals from 80 countries, according to Qatar Tourism Authority (QTA). (Shutterstock)

January 17th, 2018 - 11:49 GMT

Qatar's Visa-Free Entry Attracts Visitors From Around the World: Tourism Authority

Jason Tuvey, Middle East analyst at Capital Economics, said that recent price hikes for fuel and power, and VAT, would affect expats more than Saudi citizens. Here's why. (AFP/ File)

January 17th, 2018 - 10:13 GMT

VAT, Price Hikes Will Affect Expats More than Saudis: Report

Hussein Sajwani said he would be “more than happy” to sell equity in order to boost the trading in Damac shares. (Courtesy of Damac)

January 17th, 2018 - 09:55 GMT

Damac Chairman Ready to Sell 15 Percent of His Stake to Boost Trading

"It is for the first time that an OPEC event is taking place in Oman and the proposed meeting is being supported by Oman Oil Company." - Ali al Riyami, ministry of oil and gas (AFP/ File)

January 16th, 2018 - 10:30 GMT

Oman to Host OPEC Meeting This Month, Its First Ever

Private companies will take over the inspection activities in a move to ensure better services especially in matters of public health, sources said. (AFP)

January 16th, 2018 - 09:30 GMT

Saudi Arabia to Privatize Inspections by Ministry of Labor: Al-Madina Newspaper

The Qatar-Turkey Economic Forum, slated on Tuesday in Doha, aims to enhance economic cooperation between Qatar and Turkey in various fields. (AFP)

January 16th, 2018 - 08:42 GMT

Qatar-Turkey Economic Forum Launches Today in Doha

Restaurant and café owners in Dubai are calling for lower rents and the ability to hire students and part-timers to curb their operating costs. (Shutterstock)

January 15th, 2018 - 07:00 GMT

We Need Part-Timers and Students to Cut Costs: Restaurant Owners in Dubai