International

The Thursday Times brings the globe into focus, delivering clear, comprehensive reporting on pivotal events shaping nations and communities. With The Thursday Times‘ on-the-ground insights and expert analysis, we connect readers to the stories that matter across borders, helping make sense of our fast-changing world.

Elon Musk tops Forbes’ richest people list

Elon Musk remains the world's richest person by a wide margin, with a fortune of $908.2 billion, according to Forbes' Real-Time Billionaires list. His nearest rival, Google co-founder Larry Page, trails by more than $630 billion, while Michael Dell has climbed into fourth place.
International

پاکستان سمیت 8 اسلامی ممالک کی غزہ پٹی سے فلسطینیوں کی جبری بےدخلی سے متعلق اسرائیلی وزراء کے بیانات کی شدید مذمت

پاکستان، سعودی عرب اور ترکیہ سمیت 8 اسلامی ممالک کی اسرائیلی وزراء کی جانب سے غزہ پٹی سے فلسطینیوں کی جبری بےدخلی سے متعلق بیانات کی شدید مذمت؛ بین الاقوامی قوانین کی خلاف ورزی اور خطہ میں امن و استحکام کی بین الاقوامی کوششوں کیلئے سنگین خطرہ قرار دے دیا۔
International

Dubai plans record-breaking budget with major surplus for infrastructure and services

Dubai has set a record budget with expenditures of 272 billion dirhams and 302 billion in revenue, marking a first-time surplus of 21%. Nearly half of the budget has been allocated to infrastructure projects in critical development areas.
Dubai

Saudi wealth fund backs Brookfield’s $2bn push into Middle East

Saudi Arabia’s PIF partners with Brookfield on a $2 billion fund, sparking fresh investments and innovation across the kingdom, with Brookfield expanding its Riyadh footprint to boost local growth.
Business

Saudi Aramco picks Lahore for its first branded petrol station launch in Pakistan

Saudi oil giant Aramco has launched its first branded petrol station in Pakistan's Lahore, delivering premium fuel and services to Pakistan, and sparking a fresh chapter in the country’s fuel industry, boosting Saudi investment ties.
Business

Islamic Development Bank floats €500mn sukuk in dual Dublin and Dubai listings

The Islamic Development Bank’s €500 million sukuk, priced at mid-swaps +50 bps, finds strong demand and listings on Euronext Dublin and Nasdaq Dubai, advancing its Trust Certificate Issuance Programme.
Economy

Abu Dhabi’s CYVN moves to acquire McLaren Automotive, steer focus to EVs

Abu Dhabi’s CYVN Holdings plans to take over McLaren’s automotive division, bringing fresh capital and expertise to expand McLaren’s electric vehicle technology. This move by CYVN could redefine the luxury carmaker’s future in EVs.
Abu Dhabi

UAE poised to revive AED84bn F-35 deal with US if Trump clinches return

The UAE may look to revive a $23bn F-35 and drone deal with US if Donald Trump wins the 2024 U.S. Presidential race, as negotations with Biden continue to stall. Strategic Gulf relations are already beginning to shift amidst wider security ambitions.
Emirates

Saudi sovereign wealth fund pivots focus back home to fuel Vision 2030

Saudi Arabia’s PIF refocuses its strategy, pivoting from global assets to domestically driven projects in line with Vision 2030. The fund’s recalibration aligns with the kingdom’s economic diversification goals amid global fiscal shifts.
Economy

شہباز شریف کا پاکستان کی ترقی، نوجوانوں کی خود مختاری اور سعودی عرب کے ساتھ شراکت داری کا عزم

پاکستان میں معاشی استحکام سعودی عرب و دیگر دوست ممالک کے تعاون سے ممکن ہوا، نوجوان نسل قیمتی اثاثہ ہے، پاکستان میں غیر ملکی سرمایہ کاروں کا خیر مقدم کریں گے، غزہ میں قتل و غارت روکنا ہو گی، اس کے بغیر دنیا میں امن اور خوشحالی ممکن نہیں۔
Economy

Dubai telco du profits soar 49.7% to book $520mn in Q3 FY2024

For the nine months leading to this quarter, du achieved a 49.7 percent increase in net profit, reaching AED1.9 billion, driven by robust commercial momentum, a dedicated strategy, and cost-efficiency.
Economy

UAE attracts mammoth US$16bn in greenfield foreign capital inflows in 2023

UAE attracts US$16 billion in FDI, transforming key sectors like real estate and finance to become a global investment leader with lasting international partnerships.
Abu Dhabi

Lulu’s ADX IPO targets around $5bn bolstered by keystone GCC investors

Lulu Group’s ADX IPO promises to raise billions, anchored by cornerstone investor backing and an ambitious dividend plan to fuel its expansion across UAE markets.
Abu Dhabi

UBS advises GCC investors secure wealth with bonds, gold to mitigate regional risks

GCC investors should consider high-grade bonds and global diversification of assets—with hedges in gold—to mitigate rising regional geopolitical risks posed in the Middle East, advises Swiss investment bank UBS.
Economy