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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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Middle East airlines will see net profits doubling to $600 million in 2018, up from the $300 million they made in 2017, according to IATA. (File photo)
December 5th, 2017 - 02:00 GMT

Middle East Airlines' Profits to Double in 2018, Says IATA

Travel agencies in Saudi Arabia can now issue visas for tourism. (AFP/ File)
December 5th, 2017 - 01:50 GMT

Saudi Arabia Allows Travel Agencies to Issue Tourist Visas

"The UAE supports Jordan, and is returning 'favors' to the Kingdom." - UAE ambassador. (File photo)
December 4th, 2017 - 02:30 GMT

UAE to Build $220 Million Renewable Energy Project in Jordan

Shops found to be employing foreigners will face a fine of SR20,000 ($5,324) for each expat worker. (File photo)
December 4th, 2017 - 02:12 GMT

Saudi Arabia Bans Foreigners from Working in Gold, Jewelry Shops

S&P Global Ratings on Friday lowered Bahrain’s long-term foreign and local currency sovereign credit ratings to ‘B+’ from ‘BB-'. (Shutterstock)
December 3rd, 2017 - 06:00 GMT

Bahrain's Economy Remains Stable Despite S&P Rating: Central Bank

The total investment for the project is likely to hit $400 million. (File photo)
December 3rd, 2017 - 05:00 GMT

Engie Consortium Wins Wind Farm Project in Egypt

Prince Mohammed Bin Salman figures on this year's list of Bloomberg 50 Most Influential People. (AFP/ File)
December 3rd, 2017 - 01:57 GMT

Mohammed Bin Salman Among Bloomberg 50 Most Influential for 2017

Banks across Saudi Arabia are preparing for the transition from one riyal notes to one and two riyal coins. (Courtesy of SAMA)
December 3rd, 2017 - 01:13 GMT

Saudi Banks Prepare to Deal With 1 Riyal Coins, Instead of Paper

The new waterfront project is located along the Red Sea coast and has a total area of 730,000 square meters with a length of more than 4 km. (Courtesy of Arab News)
November 30th, 2017 - 12:11 GMT

Mecca Governor Inaugurates SR800 Million Jeddah Waterfront Project

WHO urges governments to take action. (Shutterstock)
November 30th, 2017 - 11:56 GMT

One in 10 Medicines in Developing Countries Fake, Says WHO Report

Abu Dhabi Securities Exchange (ADX) sees 2,700 percent increase in investor requests between November 26-28. (File photo)
November 29th, 2017 - 03:34 GMT

Number of Investors in Abu Dhabi Bourse Surges Ahead of Adnoc IPO

Prince Miteb bin Abdullah bin Abdulaziz is seen here walking next to Prince Charles. (AFP/ Getty Images)
November 29th, 2017 - 01:08 GMT

Saudi Prince Miteb Set Free After Paying $1 Billion to Authorities

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