Karim Benzema during a presentation to introduce him as an Al Ittihad player. Reuters
Karim Benzema during a presentation to introduce him as an Al Ittihad player. Reuters
Karim Benzema during a presentation to introduce him as an Al Ittihad player. Reuters
Karim Benzema during a presentation to introduce him as an Al Ittihad player. Reuters

Karim Benzema welcomed to Al Ittihad by thousands of fans and fireworks - in pictures


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Karim Benzema was welcomed to Al Ittihad with a lavish presentation ceremony on Thursday evening as thousands of fans packed the stadium and fireworks were let off to celebrate his arrival.

Benzema, 35, announced last weekend he would leave Real Madrid after 14 years and with his place in the club's history books firmly cemented. Just two days later, the French striker was confirmed as an Ittihad player after signing a three-year contract with the Saudi Pro League champions.

At Benzema's official unveiling at Ittihad's King Abdullah Sports City stadium, fans packed out the 62,000-capacity venue, where a drone and light show started proceedings, before Benzema addressed his new club's supporters.

"I want to say thank you so much, I hope, Inshallah, we’re going to do big things," he said. "I chose Al Ittihad because they’re a great team, they’ve just won the championship and, of course, they have amazing fans. I’m going to do everything I can to put the team in the highest level.”

The former France international, who wore a 'Benzema 9' Ittihad jersey, was greeted on the pitch by young boys and girls from Ittihad’s youth programme. He concluded the presentation by lifting his Ballon d’Or trophy, before doing a lap of the stadium too applaud the fans.

“The fans are so important, they’re the 12th player on the pitch, they push you and allow you to do great things on the pitch," Benzema said in his earlier press conference. "I can’t wait to meet them and to share this moment with them, and all the country.

  • Former Real Madrid striker Karim Benzema was unveiled as an Al-Ittihad player in front of thousands of fans in Saudi Arabia. Photo: Al-Ittihad
    Former Real Madrid striker Karim Benzema was unveiled as an Al-Ittihad player in front of thousands of fans in Saudi Arabia. Photo: Al-Ittihad
  • Karim Benzema pses for photos inside the Ittihad dressing room during his unveiling. Photo: Al-Ittihad
    Karim Benzema pses for photos inside the Ittihad dressing room during his unveiling. Photo: Al-Ittihad
  • Al Ittihad fans pack the King Abdullah Sport City Stadium at Karim Benzema's unveiling. Photo: Al-Ittihad
    Al Ittihad fans pack the King Abdullah Sport City Stadium at Karim Benzema's unveiling. Photo: Al-Ittihad
  • Karim Benzema lifts the Ballon d'Or trophy during his unveiling as an Al-Ittihad player. Photo: Al-Ittihad
    Karim Benzema lifts the Ballon d'Or trophy during his unveiling as an Al-Ittihad player. Photo: Al-Ittihad
  • Karim Benzema speaks to the crowd during his unveiling at King Abdullah Sports City stadium in Jeddah. AFP
    Karim Benzema speaks to the crowd during his unveiling at King Abdullah Sports City stadium in Jeddah. AFP
  • Karim Benzema greets young Al Ittihad fans during his unveiling at King Abdullah Sports City stadium in Jeddah. AFP
    Karim Benzema greets young Al Ittihad fans during his unveiling at King Abdullah Sports City stadium in Jeddah. AFP
  • Al Ittihad fans display Karim Benzema's Real Madrid shirt during a presentation ceremony at King Abdullah Sports City Stadium in Jeddah, Saudi Arabia. AP
    Al Ittihad fans display Karim Benzema's Real Madrid shirt during a presentation ceremony at King Abdullah Sports City Stadium in Jeddah, Saudi Arabia. AP
  • Karim Benzema kicks a football into the stands during his presentation at King Abdullah Sports City in Jeddah, Saudi Arabia. Getty Images
    Karim Benzema kicks a football into the stands during his presentation at King Abdullah Sports City in Jeddah, Saudi Arabia. Getty Images
  • Karim Benzema applauds the fans at King Abdullah Sports City in Jeddah, Saudi Arabia. Getty Images
    Karim Benzema applauds the fans at King Abdullah Sports City in Jeddah, Saudi Arabia. Getty Images
  • Fans watch fireworks at Al Ittihad's stadium in Jeddah during a ceremony to unveil former Real Madrid striker Karim Benzema. AFP
    Fans watch fireworks at Al Ittihad's stadium in Jeddah during a ceremony to unveil former Real Madrid striker Karim Benzema. AFP
  • A billboard welcomes Karim Benzema ahead of his unveiling as an Al Ittihad player. Photo: Al-Ittihad
    A billboard welcomes Karim Benzema ahead of his unveiling as an Al Ittihad player. Photo: Al-Ittihad
  • Karim Benzema's Al Ittihad jersey is displayed in the club's dressing room. Photo: Al-Ittihad
    Karim Benzema's Al Ittihad jersey is displayed in the club's dressing room. Photo: Al-Ittihad

“My family is very happy to be coming to Saudi Arabia. They have been waiting for a long time, I love this country, I’ve had the opportunity to play in Saudi Arabia a couple of times and have come to Saudi twice for Umrah. We’re all very excited to start this journey.”

Benzema's arrival is expected to be one of several big-name signings made by Saudi Pro League clubs this summer. Barcelona captain Sergio Busquets and Manchester City forward Riyad Mahrez are among several names linked with clubs in the kingdom.

Cristiano Ronaldo, a long-time teammate of Benzema's at Real Madrid, will be a direct rival next season, with the Portuguese superstar playing for Al Nassr.

Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

SPEC%20SHEET%3A%20APPLE%20IPHONE%2015%20PRO%20MAX
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Winners

Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)

Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)

Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)

Best Young Women’s Player
Vicky López (Barcelona / Spain)

Yashin Trophy (Best Goalkeeper – Men’s)
Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)

Best Women’s Goalkeeper
Hannah Hampton (England / Aston Villa and Chelsea)

Men’s Coach of the Year
Luis Enrique (Paris Saint-Germain)

Women’s Coach of the Year
Sarina Wiegman (England)

LIKELY TEAMS

South Africa
Faf du Plessis (captain), Dean Elgar, Aiden Markram, Hashim Amla, AB de Villiers, Quinton de Kock (wkt), Vernon Philander, Keshav Maharaj, Kagiso Rabada, Morne Morkel, Lungi Ngidi.

India (from)
Virat Kohli (captain), Murali Vijay, Lokesh Rahul, Cheteshwar Pujara, Rohit Sharma, Ajinkya Rahane, Hardik Pandya, Dinesh Karthik (wkt), Ravichandran Ashwin, Bhuvneshwar Kumar, Ishant Sharma, Mohammad Shami, Jasprit Bumrah.

Getting there
Flydubai flies direct from Dubai to Tbilisi from Dh1,025 return including taxes

Apple product price list

iPad Pro

11" - $799 (64GB)
12.9" - $999 (64GB)

MacBook Air 

$1,199

Mac Mini

$799

While you're here
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
BRIEF SCORES

England 228-7, 50 overs
N Sciver 51; J Goswami 3-23

India 219, 48.4 overs
P Raut 86, H Kaur 51; A Shrubsole 6-46

England won by nine runs

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

The End of Loneliness
Benedict Wells
Translated from the German by Charlotte Collins
Sceptre

Updated: June 09, 2023, 9:29 AM