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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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Dubai's budget for 2018 includes over Dh5 billion ($1.3 billion) dedicated to Expo 2020 projects alone. (File photo)
December 11th, 2017 - 02:53 GMT

Dubai Unveils $15.4 Billion Budget for 2018, Its Largest Ever

On Sunday, 24-karat gold in the UAE was trading at Dh151.25 per gram, the cheapest since July. (File photo)
December 10th, 2017 - 09:32 GMT

Gold Prices in UAE Lowest in 4 Months: Time to Buy?

Trading of the first U.S. bitcoin futures is set to begin at 18:00 ET on Sunday. (File photo)
December 10th, 2017 - 08:44 GMT

Bitcoin Remains Low as Investors Await Futures Launch on Sunday

Russia will provide Egypt with a $25 billion loan, equivalent to 85 percent of the construction cost of the new nuclear plant. (File photo)
December 10th, 2017 - 08:28 GMT

Egypt, Russia to Sign Dabaa Nuclear Deal This Week

"Buy our gas and you'll save oil," President Vladimir Putin told Saudi Arabia's Energy Minister Khalid al-Falih. (AFP)
December 10th, 2017 - 08:14 GMT

Russia Looks to Sell Its Gas to Saudi Arabia

Startups and SMEs represent more than 90 percent of the companies in Lebanon, according to a new study by Fransabank. (File photo)
December 6th, 2017 - 03:19 GMT

SMEs, Startups Make up 90 Percent of Lebanon’s Businesses: Report

South Sudan still owes neighboring Sudan $1.3 billion of the amount agreed upon in the 2012 oil deal. (AFP)
December 6th, 2017 - 03:11 GMT

South Sudan Owes Khartoum $1.3 Billion in Oil Debt: Official

Billionaire and businessman Prince Alwaleed bin Talal was among those who were detained in a sweeping anti-corruption purge of the Saudi elite. (AFP/ File)
December 6th, 2017 - 03:04 GMT

Most Detained in Saudi Purge Agree to Cash Settlements: Attorney General

Emirates REIT has successfully closed a $400 million five-year Sukuk with a profit rate of 5.12 percent per annum. (Emirates REIT)
December 6th, 2017 - 02:49 GMT

Emirates REIT Successfully Closes $400 Million, Five-Year Sukuk

The UAE is the second-largest recipient country of foreign direct investment (FDI) in the Middle East, and the 11th largest in Asia. (File photo)
December 6th, 2017 - 02:42 GMT

UAE Second-Largest Recipient of FDI in Middle East

"The MoU highlights our commitment to [enhancing] clean energy technologies that would enable sustainable development in line with Saudi Vision 2030." - Khalid Al Falih, Saudi Minister of Energy (Courtesy of SPA)
December 5th, 2017 - 02:40 GMT

Saudi Arabia, US Sign Clean Energy Deal

Turkey's inflation rose exponentially during 2017, from 9 percent in January to almost 13 percent in November. (AFP/ File)
December 5th, 2017 - 02:22 GMT

Turkey's Inflation Hits 14-Year High in November

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