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Spain loses $15 million from world cup while the US gives it to anti-Iran efforts
July 24th, 2026 - 08:28 GMT
Osama Ali

Osama Ali

Spain loses $15 million from world cup while the US gives it to anti-Iran efforts

ALBAWABA — This week, the $15 million figure surfaced in two very different international stories, demonstrating how the same sum of money can be both a significant incentive and a financial setback. On the one hand, it has been reported that Spain, the recently crowned FIFA World Cup champions, may lose almost $15 million of their championship prize due to U.S. taxes. Conversely, the U.S. government has declared a $15 ...
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Some 60 female ophthalmologists graduated from King Saud University versus only eight male ophthalmologists. (Shutterstock)
November 6th, 2016 - 12:00 GMT

Saudi Arabia to lift restrictions on women working in pharmacies, optical stores

Lebanon has not yet passed laws on e-commerce and e-banking. (Shutterstock)
November 6th, 2016 - 11:00 GMT

Lebanon's lawmakers push for legislation overhaul to combat rising cybercrime

Hosted by the Abu Dhabi National Oil Company (Adnoc) and organised by dmg events, Adipec will commence tomorrow with the official opening ceremony. (ADIPEC)
November 6th, 2016 - 10:13 GMT

Global oil and gas giants converge on Abu Dhabi for ADIPEC 2016

Revenues from corporate income tax have seen a remarkable increase in Oman. (Shutterstock)
November 6th, 2016 - 09:00 GMT

Oman gears up for tax system amendments

Saudi's growth of purchasing activity eased to a four-month low in October, but remained faster than that seen for output and new work. (File photo)
November 6th, 2016 - 08:00 GMT

Saudi Arabia: Latest austerity measures impact non-oil private sector growth

While executives are acknowledging the tougher economic climate the region is facing at present there is also optimism that the oil-led slump is presenting its own opportunities. (AFP/Neville Hopwood)
November 6th, 2016 - 07:00 GMT

GCC smart city plans: Dazzling tech and a dose of realism

So far, the UAE has signed 103 agreements on avoidance of double taxation on income. (Shutterstock)
November 6th, 2016 - 06:00 GMT

UAE, Argentina ink deal to avoid double taxation

The government announced in 2014 adopting a strategy to cut fuel subsidies that already eats up 20 percent of the state budget. (File photo)
November 6th, 2016 - 05:11 GMT

Egypt hikes fuel prices up to 47 percent

The central bank said the move aims to regain foreign currency exchange within the banking sector and ending the disturbance in the currency market. (File photo)
November 3rd, 2016 - 02:03 GMT

Egypt floats the pound, hikes interest rates to kickstart the economy

Standard Chartered Saadiq’s current core markets are Malaysia, UAE, Pakistan, Indonesia and Bangladesh. (Wikimedia Commons)
November 3rd, 2016 - 12:00 GMT

Standard Chartered Saadiq eyes Islamic finance market growth in Asia, Africa

The system was introduced after the employee absence rate reached 72 per cent, resulting in 114,000 delayed and unaccomplished tasks. (File photo)
November 3rd, 2016 - 11:00 GMT

Despite chaotic start, Saudi biometric monitoring system improves attendance by 55 percent

Egypt's black market is now seeing uncertainty, forcing traders to temporarily abstain from selling or buying dollars. (Shutterstock)
November 3rd, 2016 - 10:00 GMT

Egyptian pound strengthens against the dollar on black market amid market confusion

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