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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 ...

Earlier this month, Egypt's cabinet approved a new investment law that includes a clause preventing third parties from challenging contracts made between the government and investors

April 23rd, 2014 - 02:55 GMT

Egypt facing $14 billion worth of investment lawsuits

In order to incentivise more Jordanian companies to join the programme, Jordan Customs is introducing new mechanisms that include revised and less stringent requirements and more benefits.

April 23rd, 2014 - 02:55 GMT

Jordan revises 'Golden List Program'

Shopping malls and retail made up over 38 per cent of total revenue at Dhs863 million.

April 22nd, 2014 - 09:44 GMT

Emaar profits rise 55%, up 94% from last year

Al Bawaba

April 22nd, 2014 - 01:19 GMT

And Finally! Doha’s new airport finally set to open on May 27 after missing previous deadlines

Al Bawaba

April 22nd, 2014 - 12:15 GMT

Saudi to hold waste management and recycling summit

Al Bawaba

April 22nd, 2014 - 11:52 GMT

UAE household spending on electronics up by 62 percent

Al Bawaba

April 22nd, 2014 - 11:29 GMT

Dubai hosts UAE's biggest employment fair

Al Bawaba

April 22nd, 2014 - 10:11 GMT

British clothing brand Ted Baker opens first store in Egypt

Meanwhile, in March, Dimian described the energy subsidies system as “high and unreasonable”, adding that it would not continue “in the current form”

April 22nd, 2014 - 02:55 GMT

Here it comes: Egypt's energy subsidy reforms to take effect in July

International rating agency Standard & Poor’s has raised its outlook for Lebanon-based Bank Audi, BankMed and BLOM Bank to stable from negative, just a week after upgrading the outlook of Lebanon from negative to stable.

April 21st, 2014 - 09:47 GMT

First the economy, now the banks: S&P raises Lebanon's outlook from negative to stable

“At the forefront of these projects came the multi-billion dollar clean fuel project, the new Al Zour refinery, the fifth natural gas plant and the construction of new liquefied natural gas import facilities,”

April 21st, 2014 - 09:38 GMT

Kuwait's KNPC to invest $35 billion in transforming the country's oil industry

Saudi Arabia plans to invest $109 billion to produce 41 gigawatts (GW) of solar energy by 2032, which is almost 30 percent of its total energy requirement by that time

April 21st, 2014 - 07:53 GMT

A sign of rationality or desperation? Saudi Arabia is about to spend the equivalent of one fifth of its GDP to become world's largest solar energy producer