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The World Cup Promised $3.8 Billion — Here's What Canada Actually Got

       Monday July 13, 2026 FIFA promised Canada a $3.8-billion economic windfall for hosting the 2026 World Cup. Two weeks into play in Toronto, the receipts tell a very different story — and there's a lesson in it for anyone thinking a "big event" boost is coming to their city, their rental property, or their business. The Billion-Dollar Bill Came First Before a single ball was kicked, Canadian taxpayers were already on the hook. According to the Parliamentary Budget Office, governments across the country will spend roughly $1.07 billion hosting the 2026 tournament. Toronto alone budgeted $380 million to host six matches at BMO Field. British Columbia's tab for Vancouver's seven matches at BC Place came in even higher, at about $578 million. Ottawa is chipping in $473 million of that total — including $220 million in direct grants to Toronto and B.C., plus another $145 million earmarked for security costs during the tournament. Net of federal help, Toronto and B...
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Mideast Enters Dangerous New Phase With Iran’s Attack on Israel

 

In a significant escalation of tensions, Iran launched an unprecedented attack on Israel, firing over 300 drones and missiles. The attack, which took place on a Saturday evening, was largely thwarted by Israel and its allies, including the US, UK, and France, with most of the projectiles intercepted before reaching Israeli airspace¹. Fortunately, there were no fatalities reported, although a 10-year-old girl in Israel was badly injured by falling shrapnel, and an army base sustained light damage.

US President Joe Biden condemned the assault in the strongest terms, emphasizing that it was the first attack from Iranian soil against Israel. Israeli officials warned that this incident marked "a severe and dangerous escalation" from Tehran. However, neither the US nor Israel indicated immediate plans for retaliation against Iran. The attack came after Iran's embassy compound in Syria was hit by missiles on April 1, resulting in the deaths of seven Iranian officers. Iran stated that it would refrain from further assaults unless Israel responded strongly.

Despite the tension, stock markets in Israel, Saudi Arabia, and other Middle Eastern countries experienced only slight declines. Iran deliberately limited the scale of its retaliation, aiming for maximum symbolism but minimum damage. The situation remains precarious, and global leaders are coordinating a united diplomatic response. Oil prices surged following the Syria strike, with Brent climbing above $90 a barrel, and analysts speculating it could reach $100 if direct conflict between Iran and Israel escalates. The Israeli shekel weakened, and Israeli stocks initially rose but later reversed gains. Saudi Arabia expressed deep concern over the military escalation developments in the region.

As the Middle East enters this perilous new phase, the world watches closely, aware that the situation could have far-reaching consequences for regional stability and international relations.



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