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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 ...

Qatar facilitated faster customs procedures in 2017, which in turn helped diversify the sources of direct imports to the country. (File photo)

December 28th, 2017 - 09:00 GMT

Qatar Finds New Suppliers of Strategic Goods in 2017: Official

The skills in highest demand in 2018, which are likely to see an increase salary wise, are VAT expertise and digital. (File photo)

December 28th, 2017 - 08:00 GMT

Will Your Pay Hike Beat VAT in UAE?

Turkish Economy Minister Nihat Zeybekci said the country is expected to exceed its revised export target of $156.5 billion by the end of 2017. (AFP)

December 27th, 2017 - 11:06 GMT

Turkey’s Exports to Exceed Targets in 2017: Official

The initial public offering (IPO) period of Al Rajhi REIT Fund will run from January 1 to January 14. (File photo)

December 27th, 2017 - 10:51 GMT

Al Rajhi Unveils Details for Al Rajhi REIT IPO, Including Price and Date

Car prices changes in Egypt this year ranged from +7% up to +129% for some models. (Pixabay)

December 27th, 2017 - 10:32 GMT

Egypt: Car Sales Down 50 Percent as Prices Hit Record High in 2017

Demand for electricity in the Middle East region grew substantially between 2000 and 2016, at an average growth rate of 5.6% a year, driven by growth in GCC countries. (Pixabay)

December 27th, 2017 - 10:18 GMT

Middle East's Electricity Consumption to Double by 2040, Driven by Growth in GCC

Inflation in Saudi Arabia is expected to pick up dramatically in 2018, with the implementation of VAT and new fuel prices. (Hassan Ammar/ AFP)

December 26th, 2017 - 12:22 GMT

VAT Is Coming: Saudis Brace For Rising Inflation In 2018

Beirut is filled with sparkly Christmas decorations, but to the dismay of many Lebanese merchants the streets are largely empty of holiday shoppers. (alexander_photography97/ Instagram)

December 26th, 2017 - 12:01 GMT

'People Aren’t Coming to Lebanon': Retailers Blame Political Situation for Drop in Sales

Oman has announced it will postpone the implementation of the value-added tax (VAT) until 2019. Kuwait could follow suit, experts say. (File photo)

December 26th, 2017 - 11:22 GMT

Oman to Postpone VAT Until 2019, Kuwait Could Follow

The banking sector in the GCC region is expected to deliver a stable performance in 2018, particularly in the UAE and Saudi Arabia, according to Moody’s. (AFP)

December 24th, 2017 - 06:00 GMT

Stable Outlook for GCC's Banking Sector in 2018: Moody's

The Middle East's initial public offering (IPO) values were up 55 percent year-on-year, from $676 million to $2.1 billion in 2017, according to a report by global law firm Baker McKenzie. (AFP/ File)

December 24th, 2017 - 01:16 GMT

Middle East's IPOs up 55 Percent in 2017: Report

Mobile network operators in the UAE will begin preparing infrastructure for 5G from early 2018. (File photo)

December 24th, 2017 - 01:05 GMT

UAE Ready for 5G Roll-out, Says Regulator