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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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Saudi Arabia has announced that electronic purchases are subject to the value added tax (VAT), effective January 1. (File photo)
December 14th, 2017 - 01:48 GMT

E-Commerce Transactions Subject to VAT: Saudi Arabia

The UAE, Saudi Arabia and Bahrain have raised their interest rates today. Kuwait's interest rate remains unchanged. (File photo)
December 14th, 2017 - 01:03 GMT

UAE, Saudi Arabia, Bahrain Follow US With Interest Rate Hike

King Salman on Thursday issued a decree allocating SR72 billion ($19.2 billion) of stimulus funds to support the private sector in 2018. (AFP/ File)
December 14th, 2017 - 11:12 GMT

Saudi Arabia Unveils $19 Billion 'Stimulus' for Private Sector

When it comes to Egypt's economy in the coming years, three economic issues in particular are prompting investors to hedge their bets. (AFP)
December 13th, 2017 - 09:37 GMT

Opinion: Three Challenges Ahead for Egypt’s Economy

While the price of Bitcoin can suddenly rise to an extreme level, "it can also collapse later," he warned. (AFP/ Philippe Lopez)
December 13th, 2017 - 09:04 GMT

Beware of Bitcoin, Warns Turkey's Deputy PM

Saudi Arabia's most well-known businessman Prince Alwaleed bin Talal is still under arrest. (Getty)
December 13th, 2017 - 08:47 GMT

Saudi Arabia: Special Unit to Handle Cash Settlements From Arrested Princes

China purchased 8.47 million barrels of crude oil in the first 11 months of this year, up 12 percent from the same period of 2016. (File photo)
December 12th, 2017 - 07:00 GMT

China's Oil Imports up 14 Percent as Government Tries to Demonopolize Sector

“The UAE is exploring other tax options according to best international practices.” - Ministry of Finance (File photo)
December 12th, 2017 - 06:00 GMT

UAE Mulls New Taxes, Other Than VAT

The first tranche of Dh3 billion will be paid in January 2018, and the remaining Dh1 billion will be paid following the annual general meeting in April 2018. (File photo)
December 12th, 2017 - 02:24 GMT

Emaar Properties Announces Dh4 Billion Dividends, in Two Parts

Adnoc Distribution is scheduled to list on Wednesday on Abu Dhabi Securities Exchange (ADX) following an IPO that raised Dh3.1 billion. (File photo)
December 12th, 2017 - 02:06 GMT

Nasdaq Dubai Launches Futures in Adnoc Distribution, Emaar Malls

The price of Brent crude oil has reached a new high by surpassing $65 per barrel, its highest level since mid-2015. (File photo)
December 12th, 2017 - 01:54 GMT

Oil Prices Reach Highest Levels Since 2015, at $65

The Middle East and North Africa (MENA) region saw 400 percent more IPOs in 2017 compared to the same period of 2016, according to a new report. (AFP/ File)
December 11th, 2017 - 06:00 GMT

IPOs in MENA up 400 Percent in 2017: Report

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