India face Australia in the World Test Championship final in London on June 7. Getty
India face Australia in the World Test Championship final in London on June 7. Getty
India face Australia in the World Test Championship final in London on June 7. Getty
India face Australia in the World Test Championship final in London on June 7. Getty

World Test Championship 2023 prize money for all nine teams


  • English
  • Arabic

India will resume their decade-long hunt for an ICC trophy when they take on Australia in the final of the World Test Championship at The Oval next week.

For the second straight Test cycle, India have qualified for the championship match in red-ball cricket, having lost the previous title match to New Zealand. The south Asian giants have not won a major trophy for 10 years, their last one being the 2013 Champions Trophy, and will be hoping to end the drought.

They should expect a bruising encounter with Australia, who put up a tremendous fight in the recent Border Gavaskar Trophy in India and narrowly lost the series 2-1.

The Aussies will be relying on their pace attack to unsettle the Indian batsmen, many of whom have only just turned up for Test cricket after the conclusion of the IPL.

Fast bowler Josh Hazlewood made the cut, having cut short his IPL campaign last month after reporting "minor side soreness". The 32-year-old is part of potent attack that includes captain Pat Cummins, Scott Boland and Mitchell Starc.

India will be without star pace Jasprit Bumrah, who has ben battling a long-term back injury, while wicketkeeper batsman KL Rahul is also injured.

The final will take place at The Oval in London from Wednesday, June 7. After the match, Australia go straight into the Ashes series against England with the first Test starting at Edgbaston on June 16.

Apart from the world title and Test mace, the two finalists will also be fighting for a big chunk of the prize money on offer. Below is a breakdown of the cash reward that awaits the two finalists, and the other Test teams for the current cycle.

  • New Zealand's captain Kane Williamson with the Test mace after defeating India in the World Test Championship final in Southampton. AFP
    New Zealand's captain Kane Williamson with the Test mace after defeating India in the World Test Championship final in Southampton. AFP
  • Ross Taylor and Kane Williamson guided New Zealand to victory in World Test Championship final against India in Southampton on Wednesday, June 23. Getty
    Ross Taylor and Kane Williamson guided New Zealand to victory in World Test Championship final against India in Southampton on Wednesday, June 23. Getty
  • New Zealand's captain Kane Williamson guided his team to victory on day six of the World Test Championship final at the Ageas Bowl in Southampton. AFP
    New Zealand's captain Kane Williamson guided his team to victory on day six of the World Test Championship final at the Ageas Bowl in Southampton. AFP
  • India fans in the stands cheer their team in Southampton. PA
    India fans in the stands cheer their team in Southampton. PA
  • India's Ravichandran Ashwin, left, and teammates celebrate the dismissal of New Zealand's Devon Conway. AP
    India's Ravichandran Ashwin, left, and teammates celebrate the dismissal of New Zealand's Devon Conway. AP
  • India's Mohammed Shami, left, reacts in Southampton on Wednesday .AP
    India's Mohammed Shami, left, reacts in Southampton on Wednesday .AP
  • New Zealand's Tim Southee, left, celebrates with teammates the dismissal of India's Mohammed Shami. AP
    New Zealand's Tim Southee, left, celebrates with teammates the dismissal of India's Mohammed Shami. AP
  • New Zealand's Ross Taylor takes a catch to dismiss India's Ravichandran Ashwin off the bowling of Trent Boult. Reuters
    New Zealand's Ross Taylor takes a catch to dismiss India's Ravichandran Ashwin off the bowling of Trent Boult. Reuters
  • Trent Boult picked up three wickets in the second innings. Getty
    Trent Boult picked up three wickets in the second innings. Getty
  • New Zealand's Kyle Jamieson, right, celebrates the dismissal of India's captain Virat Kohli. AP
    New Zealand's Kyle Jamieson, right, celebrates the dismissal of India's captain Virat Kohli. AP

World Test Championship 2023 prize money

All nine Test-playing teams will get a share of the $3.8 million purse for the 2021-23 cycle. Apart from the finalists, the rest of the teams will get their share according to the position they finished on the points table.

1. Winners (India / Australia): $1.6 million

2. Runners-up: $800,000

3. South Africa: $450,000

4. England: $350,000

5. Sri Lanka: $200,000

6. New Zealand: $100,000

7. Pakistan: $100,000

8. West Indies: $100,000

9. Bangladesh: $100,000

What are the main cyber security threats?

Cyber crime - This includes fraud, impersonation, scams and deepfake technology, tactics that are increasingly targeting infrastructure and exploiting human vulnerabilities.
Cyber terrorism - Social media platforms are used to spread radical ideologies, misinformation and disinformation, often with the aim of disrupting critical infrastructure such as power grids.
Cyber warfare - Shaped by geopolitical tension, hostile actors seek to infiltrate and compromise national infrastructure, using one country’s systems as a springboard to launch attacks on others.

NATIONAL%20SELECTIONS
%3Cp%3E6.00pm%3A%20Heros%20de%20Lagarde%3Cbr%3E6.35pm%3A%20City%20Walk%3Cbr%3E7.10pm%3A%20Mimi%20Kakushi%3Cbr%3E7.45pm%3A%20New%20Kingdom%3Cbr%3E8.20pm%3A%20Siskany%3Cbr%3E8.55pm%3A%20Nations%20Pride%3Cbr%3E9.30pm%3A%20Ever%20Given%3C%2Fp%3E%0A
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Floward%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3ERiyadh%2C%20Saudi%20Arabia%0D%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EAbdulaziz%20Al%20Loughani%20and%20Mohamed%20Al%20Arifi%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EE-commerce%0D%3Cbr%3E%3Cstrong%3ETotal%20funding%3A%20%3C%2Fstrong%3EAbout%20%24200%20million%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EAljazira%20Capital%2C%20Rainwater%20Partners%2C%20STV%20and%20Impact46%0D%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%20%3C%2Fstrong%3E1%2C200%3C%2Fp%3E%0A
Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

Sarfira

Director: Sudha Kongara Prasad

Starring: Akshay Kumar, Radhika Madan, Paresh Rawal 

Rating: 2/5

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

RESULT

Manchester United 2 Burnley 2
Man United:
 Lingard (53', 90' 1)
Burnley: Barnes (3'), Defour (36')

Man of the Match: Jesse Lingard (Manchester United)

Another way to earn air miles

In addition to the Emirates and Etihad programmes, there is the Air Miles Middle East card, which offers members the ability to choose any airline, has no black-out dates and no restrictions on seat availability. Air Miles is linked up to HSBC credit cards and can also be earned through retail partners such as Spinneys, Sharaf DG and The Toy Store.

An Emirates Dubai-London round-trip ticket costs 180,000 miles on the Air Miles website. But customers earn these ‘miles’ at a much faster rate than airline miles. Adidas offers two air miles per Dh1 spent. Air Miles has partnerships with websites as well, so booking.com and agoda.com offer three miles per Dh1 spent.

“If you use your HSBC credit card when shopping at our partners, you are able to earn Air Miles twice which will mean you can get that flight reward faster and for less spend,” says Paul Lacey, the managing director for Europe, Middle East and India for Aimia, which owns and operates Air Miles Middle East.

England's Ashes squad

Joe Root (captain), Moeen Ali, Jimmy Anderson, Jofra Archer, Jonny Bairstow, Stuart Broad, Rory Burns, Jos Buttler, Sam Curran, Joe Denly, Jason Roy, Ben Stokes, Olly Stone, Chris Woakes. 

PREMIER LEAGUE RESULTS

Bournemouth 1 Manchester City 2
Watford 0 Brighton and Hove Albion 0
Newcastle United 3 West Ham United 0
Huddersfield Town 0 Southampton 0
Crystal Palace 0 Swansea City 2
Manchester United 2 Leicester City 0
West Bromwich Albion 1 Stoke City 1
Chelsea 2 Everton 0
Tottenham Hotspur 1 Burnley 1
Liverpool 4 Arsenal 0

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

NBA FINALS SO FAR

(Toronto lead 3-2 in best-of-seven series)

Game 1 Raptors 118 Warriors 109

Game 2 Raptors 104 Warriors 109

Game 3 Warriors 109 Raptors 123

Game 4 Warriors 92 Raptors 105

Game 5 Raptors 105 Warriors 106

Game 6 Thursday, at Oakland

Game 7 Sunday, at Toronto (if needed)

First Person
Richard Flanagan
Chatto & Windus 

Company%C2%A0profile
%3Cp%3ECompany%3A%20Zywa%3Cbr%3EStarted%3A%202021%3Cbr%3EFounders%3A%20Nuha%20Hashem%20and%20Alok%20Kumar%3Cbr%3EBased%3A%20UAE%3Cbr%3EIndustry%3A%20FinTech%3Cbr%3EFunding%20size%3A%20%243m%3Cbr%3ECompany%20valuation%3A%20%2430m%3C%2Fp%3E%0A
Updated: June 02, 2023, 2:42 AM