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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 has been facing a foreign currency crunch since the political upheaval following the 2011 uprising drove away foreign investors and tourists, the country's main source of dollars. (File photo)
March 15th, 2016 - 06:00 GMT

Egypt Central Bank depreciates pound, auctions $198M

Israel Natural Gas Lines is investing in resources to allow the export of gas to Jordan from both Tamar and Leviathan fields.  (Shutterstock)
March 15th, 2016 - 05:11 GMT

Jordan to receive natural gas from Israeli pipeline by 2017

Christie’s Dubai has added a new sale category featuring luxury jewellery alongside its art and watches sales. (Art of the Middle East)
March 14th, 2016 - 11:52 GMT

Christie's celebrates $300M worth of sales in MENA over last ten years

Higher unemployment in a slower economy triggers a positive cycle of young pioneering professionals who create their own jobs by starting their own small ventures. (File photo)
March 14th, 2016 - 11:05 GMT

Weak economy, booming tech industry?

The Finance Ministry said in the 2016 budget statement in December that it would apply “additional fees on harmful goods" such as tobacco and soft drinks. (File photo)
March 14th, 2016 - 10:00 GMT

Saudi smokes out as tobacco taxes double prices

Big Bus Tours, Etihad Airways, Al Burj Travel, Park Hyatt Abu Dhabi Hotel and Villas, Jannah Hotels and Resorts, and Al Mafraq Hotel will also participate in the roadshow. (File photo
March 14th, 2016 - 09:00 GMT

Abu Dhabi Tourism & Culture European roadshow gets underway

Oman Rail had already significantly advanced plans for its $11 billion rail network. (File photo)
March 14th, 2016 - 08:00 GMT

Oman Rail on track for completion by 2020

GCC governments currently have deposits estimated at $860 million in Banque du Liban. (File photo)
March 14th, 2016 - 07:00 GMT

Weakening GCC-Lebanon tensions will negatively affect banking sector: Moody's

Egypt recently announced plans to purchase $20M in bomb detectors for its airports. (File photo)
March 14th, 2016 - 06:00 GMT

Egypt allocates an additional $32M towards airport security

The minister said he expects Iran’s crude oil exports to hit 2 million bpd this month. (Iran Daily)
March 14th, 2016 - 05:11 GMT

Iran will consider oil production freeze after four million barrels

Vakifbank, Turkey's third-largest state bank, has received approval to launch an Islamic banking division. (EBRD)
March 13th, 2016 - 01:00 GMT

Islamic finance gains ground in Turkey

Mecca retailers have been accused of colluding to fix rice prices. (AFP/Farjana Khan Godhuly)
March 13th, 2016 - 12:17 GMT

Rage over rice prices: Saudi consumers accuse traders of monopolizing market

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