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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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Egypt, which has been facing foreign currency shortages, devalued the pound to 8.78 in March then hiked key rates by 150 basis points just days later to control inflation. (File photo)
July 26th, 2016 - 10:00 GMT

Egypt’s Central Bank expected to maintain rate at monetary policy meeting

The Solar Impulse 2 touched down in Abu Dhabi Tuesday morning, completing the first round-the-world trip of a zero-fuel plane. (Wikimedia Commons)
July 26th, 2016 - 09:00 GMT

Solar plane completes historic round-the-world journey in Abu Dhabi

BDS protesters in Italy. (AFP/Vincenzo Pinto)
July 26th, 2016 - 08:00 GMT

Netanyahu declares global BDS movement ‘defeated’

The sponsor has not extended the Iqamas (residence permits) of many of these workers. (Saudi Gazette)
July 26th, 2016 - 07:00 GMT

Foreign workers file complaint after not being paid for over a year in western Saudi

State-owned institutions across Turkey, including Turkish Airlines, have begun firing anyone with alleged ties to Fethullah Gulen's religious movement. (Shutterstock)
July 25th, 2016 - 03:05 GMT

Turkish Airlines fires 211 employees in ongoing ‘purge’ of state institutions

A new electronic media law in Kuwait is tightening restrictions on online publications. (Shutterstock)
July 25th, 2016 - 02:41 GMT

New media law in Kuwait requires local ownership, special license for news sites

A Turkish flag pictured in Gaziantep, southeastern Turkey. (AFP Photo/Ozan Kose)
July 25th, 2016 - 01:00 GMT

Turkish Industrialists urge global trust in Turkish economy

There has been an increase in cyber attacks, mainly motivated by corporate espionage. (File photo)
July 25th, 2016 - 12:00 GMT

Mining companies facing heightened cyber security risk

Among Arab investors in Dubai, Jordanians came in first, followed by Egyptians and Lebanese. (File photo)
July 25th, 2016 - 11:00 GMT

With over $353 Million in real estate, Egyptians are Dubai’s second highest Arab investors

Saudi women shopping in one of the country's many malls. (File)
July 25th, 2016 - 09:02 GMT

Saudi shopping study: Night owls are big spenders

Riyadh is one of three cities in Saudi in which only nationals can buy property. (AFP/File)
July 25th, 2016 - 07:00 GMT

Shoura Council: Expats cannot buy property in Mecca, Medina, Riyadh

Solar energy is one form of renewable energy that could bring millions to Egypt's economy. (Shutterstock)
July 25th, 2016 - 04:00 GMT

Tensions increase between Egypt, Italy over renewable energy projects

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