Saudi Research and Marketing Group (SRMG), the Middle East's biggest publishing group, and Bloomberg, the global business and financial information and news leader, have launched Bloomberg Asharq, a new multi-platform Arabic-language business and financial news service.
The news service and its new logo was officially launched by Peter Grauer, chairman, Bloomberg LP, and Dr. Ghassan Alshibl, chairman, SRMG, on Sunday. In September 2017, the two companies signed a long-term agreement to launch Bloomberg Al Arabiya.
Operating out of Dubai International Financial Centre (DIFC), UAE, Bloomberg Asharq will have a major presence in Abu Dhabi, Riyadh, and Cairo. It will have studios in each city, along with extensive presence and coverage in key regional and global capitals.
Bloomberg Asharq platforms will provide Arabic-speaking audiences around the world with news and analysis on the companies, markets, economies, social and political developments shaping the Middle East. This includes a 24/7 television and radio network and dedicated digital platform, Bloomberg Businessweek magazine in Arabic and a conference and live events series.
"This is an exciting new development as we move forward in our partnership with SRMG, as this multi-platform agreement is the most ambitious of its kind," said Justin B. Smith, CEO, Bloomberg Media Group.
"It is partnerships like these that allow us to strengthen our presence in key growth markets, and this expansion across the Middle East is the latest development as part of our strategy to invent our way forward to become the most modern global media company."
Dr. Ghassan Alshibl, chairman, SRMG, added: "With headquarters in the UAE, and a presence in Riyadh, Abu Dhabi, Cairo and many other regional capitals, Bloomberg Asharq will deliver coverage from all the major business and financial centers in the Middle East."
"This partnership will elevate news in the region to new levels, and will allow us to provide Arabic-speaking audiences in the region and beyond with the most up-to-date and relevant news as they make key investment decisions, and as the region continues its economic diversification. We are proud to use “Asharq” (Orient) in the name of this platform, to reflect the interest in the rapidly growing region.”
The Bloomberg Asharq team will be managed by SRMG, which also publishes more than 12 publications, including the popular daily Asharq Al-Awsat, Arab News, Aleqtisadiah and many others, with support from Bloomberg's extensive financial and economic content and market data as well as news from its 2,700 journalists and analysts globally.
SRMG owns a 51 percent stake in Argaam Investment Co., which publishes financial data and news websites Argaam.com and Akhbaar24 in Saudi Arabia.
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