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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 encouraging sign of Adnoc IPO will lead to optimistic outlook from the other oil companies in the region, according to analysts. (AFP)

January 2nd, 2018 - 10:00 GMT

Adnoc Distribution IPO Could Spur More Listings in Energy: Experts

Inflation in Saudi Arabia is likely to rise in coming months on the back of the hike in electricity prices, fuel prices and implementation of a VAT regime. (AFP)

January 2nd, 2018 - 09:00 GMT

Inflation to Rise in Saudi Arabia With VAT, New Fuel Prices

The introduction of a VAT regime in the UAE marks the beginning of a new era for the UAE economy where the general public will start sharing the burden of budgetary expenditure. (AFP)

January 2nd, 2018 - 08:00 GMT

VAT Begins in UAE: How Will It Affect Purchasing Power?

Iran and Russia are finalizing an agreement between their central banks to overcome financial sanctions by the US. (AFP)

January 1st, 2018 - 09:37 GMT

Iran, Russia Finalizing Deal to Integrate Their Banking Systems

From the year’s biggest IPOs to Saudi Arabia’s new dependent fee and the Qatar crisis, here’s a roundup of some of the most significant business stories of 2017. (AFP)

December 31st, 2017 - 05:28 GMT

2017 Year in Review: Al Bawaba’s Top 10 Business Stories

Emirates expanded its network to over 156 destinations in 2017. (AFP/ File)

December 31st, 2017 - 01:28 GMT

Emirates Ends 2017 With Fleet and Product Milestones

Qatar’s trade surplus expanded to QR12.8 billion in November, a 32 percent jump from a year ago. (Shutterstock)

December 31st, 2017 - 10:00 GMT

Qatar’s Trade Surplus Up 32 Percent in 2017, Despite Blockade

Saudi Arabia has announced that it is working on a mechanism to return the value-added tax (VAT) to tourists in 2018. (Shutterstock)

December 31st, 2017 - 09:00 GMT

Tourists to Get Refund on VAT Paid in Saudi Arabia

250,000 travelers are expected to arrive into Dubai from 28 December to 1 January 2018. (Shutterstock)

December 31st, 2017 - 08:00 GMT

Hundreds of Thousands to Fly Through Dubai for New Year's Eve

Sajwani’s net worth has in turn increased significantly over the last six months from $3.7bn to $4.3bn. (File photo)

December 28th, 2017 - 01:02 GMT

Interview With Hussain Sajwani, the Man Behind Damac

Banks’ assets in Qatar rose by QR14 billion in November, a 10.9 percent jump from a year ago. (Shutterstock)

December 28th, 2017 - 11:00 GMT

Qatar Banks’ Assets Grow by 10.9 Percent in 2017, Despite Blockade

Public transportation in the UAE under the Executive Regulations Article 45 are exempt. (File photo)

December 28th, 2017 - 10:00 GMT

No VAT on Dubai Metro, Taxis in UAE