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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 ...

With $939 million, Turkish Airlines posted a record net profit in the third quarter of 2017. (Shutterstock)

November 21st, 2017 - 02:28 GMT

Against the Odds: Turkish Airlines Sees Profit in Q3 2017

Saudi Arabia's non-oil revenue jumped 80 percent in the third quarter to SR47.8 billion, according to official figures. (File photo)

November 21st, 2017 - 12:21 GMT

Saudi Arabia's Credit Ratings Affirmed by S&P, With Stable Outlook

Here's a look at the top 5 things that moved global markets this past week. (Karim Sahib/ AFP)

November 19th, 2017 - 08:00 GMT

From Bitcoin to Dubai Airshow: Top 5 Things that Moved Markets This Past Week

The net foreign assets of the banking sector in Egypt scored about EGP 174.878bn at the end of August, up from EGP 139.658bn at the end of July, according to the Central Bank. (Shutterstock)

November 19th, 2017 - 07:00 GMT

Egypt's Net Foreign Assets Jump 25 Percent in One Month: Central Bank

The move, by Norway's Sovereign Wealth Fund, is believed to help an emerging global campaign to move away from oil and towards renewable energies. (Shutterstock)

November 19th, 2017 - 06:00 GMT

The End of Oil: World’s Largest Fund to Dump Oil Investments, Invest Away From Oil

UAE residents will spend Dh900 billion in the next five years, according to Euromonitor International's forecast. (File photo)

November 19th, 2017 - 05:00 GMT

Spending in UAE to Cross Dh900 Billion Mark by 2022: Report

Gold hits one-month peak as dollar drops on uncertainty surrounding new US tax code. (Shutterstock)

November 19th, 2017 - 02:18 GMT

Gold Prices in UAE Hit Highest in a Month on Weak US Dollar

Kuwaiti traders sitting in the main hall at the Kuwait Stock Exchange (Boursa) headquarters in Kuwait City. (AFP)

November 19th, 2017 - 01:45 GMT

Bad Day: Kuwait Bourse Ends Sunday Trading in Red Zone

Hesham Abdulla Al Qassim, Vice Chairman and Managing Director of Emirates NBD, today rang the market-opening bell to celebrate the listing of the bond on Nasdaq Dubai. (Courtesy of Emirates NBD)

November 19th, 2017 - 01:22 GMT

Emirates NBD Celebrates Listing of $750 Million Bond on Nasdaq Dubai

The Value Added Tax (VAT) of five percent will also apply to purchasing petrol, according to the Saudi tax authority. (File photo)

November 19th, 2017 - 12:41 GMT

Saudi Arabia Announces 5 Percent VAT on Fuel, From January 1

Qatar plans to develop the port to serve Sudan and its neighbors, Al Jazeera reported. (File photo)

November 16th, 2017 - 02:52 GMT

Qatar to Develop 'Port Sudan', the Largest Port on the Red Sea

Qatar's Emir Sheikh Tamim bin Hamad al-Thani welcomes Turkish President Recep Tayyip Erdogan during an official visit to Doha on November 15, 2017. (Kayhan Ozer/ AFP)

November 16th, 2017 - 01:53 GMT

Breakdown of Qatar-Turkey Agreements Signed This Week in Doha