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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 ...

As part of the stimulus, LE2.5 million will be allocated to renovating roads and bridges, LE1.6 billion to paving roads nationwide, and LE557 million to complete 15 roads under the supervision of Egypt's Central Agency for Reconstruction.

October 28th, 2013 - 09:43 GMT

Egypt's stimulus package to place infrastructure, sanitation as top priorities

According to reports circulated through social networking sites, the seized money include currencies of Iran, Iraq, Turkey, India, Indonesia, Bangladesh, Egypt and Morocco.

October 28th, 2013 - 07:59 GMT

$800 million worth of foreign currency seized from Saudi vehicle

Zain KSA continued to build on the strong positive momentum in the first half of 2013 with further improvements in the company’s financial performance for the third quarter of 2013.

October 28th, 2013 - 07:22 GMT

Zain KSA profits grow at a faster rate than the Saudi Economy

CBE added that gross domestic debts amounted to 87.5 percent of the GDP for the same fiscal year.

October 27th, 2013 - 12:27 GMT

Egypt's debt rises 25%, reaching 87.5% of GDP

Saudi investments were in the second place after those from the UAE during Q4 at $62.2 million.

October 27th, 2013 - 11:52 GMT

Who are Egypt's top investors?

The future aviation super hub was originally slated to open in mid-2009 but after failing to secure an operating license from the General Civil Aviation Authority (GCAA), Dubai Airports pushed back the launch date.

October 27th, 2013 - 11:05 GMT

Better late than never: Four years late, Dubai World Central airport opens to passengers today

The London-based bank can help increase Jordanian businesses’ use of renewable energy.Describing the Kingdom as a role model for social and economic reform in the region, Harmgart added that Jordan can become a leader in terms of innovation and economic transition.

October 27th, 2013 - 09:20 GMT

Grand plans: The European Bank of Reconstruction and Development opens permanent office in Jordan

Ithmaar Bank has provided nearly $450 million for the project that brings together public and private entities to deliver social and affordable housing solutions.

October 27th, 2013 - 08:14 GMT

Time to act? Bahrain's first ever PPP housing scheme revealed

He said that the committee in charge of studying the problem of laid off workers at the time of the global economic crisis found that the number of Kuwaiti citizens working for the private sector, ostensibly affected by the crisis, was not as high as once thought.

October 24th, 2013 - 12:26 GMT

Social justice or over-pampering? Kuwait pays 60 million dollars to its laid-off citizens

The total cost of building the common network is estimated at $10.5 billion – $3 billion for desalination plant construction and $7.5 billion for pipelines, pumping stations and reservoirs.

October 24th, 2013 - 11:58 GMT

GCC commences studies on common water network

Rocket Internet sees the app being connected to 60,000 to 70,000 cars in Saudi Arabia, and “tens of thousands” in the UAE.

October 24th, 2013 - 11:04 GMT

Taxi-ordering app raises largest investment in Middle East's mobile applications history

The cost of capital projects that need to be implemented to integrate Syrian refugees for a three- to five-year stay is estimated at around $870 million.

October 24th, 2013 - 09:34 GMT

Pricing humanitarianism: Syrian refugees scapegoated for Jordan's economic troubles