Saudi Research and Marketing Group acquires stake in financial media service Argaam

Updated 18 October 2017
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Saudi Research and Marketing Group acquires stake in financial media service Argaam

LONDON: The Saudi Research and Marketing Group (SRMG) has acquired a controlling stake in the Argaam Investment and Trading Company, which publishes an online financial news service.
Argaam owns Argaam.com, which provides real-time updates on financial markets and macroeconomic trends in Saudi Arabia. It also owns the news portal Akhbaar24.com.
SRMG Chairman Prince Badr bin Abdullah Al-Saud said the acquisition will help pave the way to a “brighter future” for the digital content industry in Saudi Arabia.
The deal forms part plans by SRMG, the publisher of Arab News, to expand its range of specialized content.
“The acquisition of one of the most important economic websites in Saudi Arabia and the Arab world is a continuation of the group’s strategy to expand its specialized content portfolios in the world of finance, business, market economics and different media platforms,” said Dr. Ghassan Al-Shibl, managing director and chief executive of SRMG.
The acquisition also reflects an anticipated rise in demand for information on Saudi Arabia’s economy and financial markets as the country ramps up non-oil growth and diversifies its economy under its Vision 2030 strategy.
Saudi Arabian data has become a “strategic commodity” for potential investors weighing their options on how to invest in the Kingdom, Al-Shibl said in a statement.
SRMG secured its 51 percent stake for SR37.5 million ($10 million), according to a statement from the company. The deal is self-funded and will be paid in cash after formal procedures are finalized. Ownership is expected to be completed by Oct. 24, pending final regulatory approvals.
The acquisition follows news last month that SRMG signed a deal with the New York-headquartered news conglomerate Bloomberg to launch Bloomberg Al Arabiya — a new multi-platform Arabic-language business and financial news service.
Under the agreement, SRMG will publish Bloomberg Businessweek magazine in Arabic as well as producing a 24/7 television and radio network. The Bloomberg Al Arabiya team will be headquartered in the Gulf, and managed by SRMG with support from Bloomberg.
“The Middle East is an important, economically diverse region and our agreement with SRMG allows us to deliver the sharpest global business and financial insights to a critical audience of business decision makers,” said Michael R. Bloomberg, founder of Bloomberg L.P. and former mayor of New York City in September.


News anchors join New Zealand women wearing headscarves for mosque attack victims

Updated 22 March 2019
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News anchors join New Zealand women wearing headscarves for mosque attack victims

  • The AM Show news anchor Amanda Gillies said the gesture 'shows we are united'
  • Newsreaders began broadcasts with Islamic greetings

CHRISTCHURCH: News anchors in New Zealand joined women across the country in wearing headscarves as a show of solidarity on Friday for the victims of last week’s mosques shooting. 

The newsreaders covering the memorial events for the 50 people killed by a white supremacist at two mosques in Christchurch, began broadcasts with Islamic greetings.

They included The AM Show news anchor Amanda Gillies, who said she agonized over whether to cover her hair with a peach-colored scarf.

"There's no way a week ago that I would have, because I would have thought it would have been deemed inappropriate, not right, that I was insulting the Muslim community," Gillies said.

"I'll be honest - I did angst over it today whether I should wear it, because I didn't want to be inappropriate or offend the Muslim community. But I know that they are so welcoming and accepting of it, and I know that a lot of women will wear it today because it just shows that we are united - the solidarity is there, the love and support is there."

Elsewhere, women across the country wore hijabs on an emotional day when the shocked  nation came together to remember those killed.

 A journalist wearing a headscarf as tribute to the victims of the mosque attacks uses her phone before Friday prayers at Hagley Park outside Al-Noor mosque in Christchurch, New Zealand March 22, 2019. (Reuters)

Rafaela Stoakes, a 32-year-old mother of two, said wearing the Islamic head covering gave her an insight into what it means to stand out and feel part of the minority.

On Friday morning she covered all but a few locks of her dark chestnut-coloured hair in a loose red and white scarf, crossed neatly beneath her chin and tucked into a black hiking jacket.

She was one of many women embracing #HeadScarfforHarmony, to make a stand against the hate espoused by the Australian man who killed dozens of worshippers.

Headscarves were also worn as a mark of respect by policewomen and non-Muslim volunteers directing the crowds around the site in Christchurch holding communal prayers on Friday.

Many were wearing a headscarf for the first time.

"It is amazing how different I felt for the short time I was out this morning," Stoakes told AFP.

"There were a lot of confused looks and some slightly aggressive ones," she said.

"I did feel a sense of pride to honour my Muslim friends, but I also felt very vulnerable and alone as I was the only person wearing one."

"It must take a lot of courage to do this on a daily basis."

The gesture caught on nationwide -- in offices, schools and on the streets -- as well as at the ceremonies held in Christchurch to mark one week since the killings at the hands of a self-avowed white supremacist.

Women flooded Twitter, Facebook and other social media -- which played a key role in allowing the gunman to spread his message -- with their images.

Kate Mills Workman, a 19-year-old student from Wellington, posted a selfie on Twitter wearing a green headscarf.

"If I could I would be attending the mosque and standing outside to show my support for my Muslim whanau but I've got lectures and I can't really skip them," she told AFP, using a Maori language term for extended family.

"Obviously this is all spurred on by the terrible tragedy in Christchurch, but it's also a way of showing that any form of harassment or bigotry based on a symbol of religion is never okay," she added.

"As New Zealanders, we have to make a really strong stand."

Although the headscarf has been the subject of contentious debate over gender rights in the Islamic world, for Stoakes the day has been a lesson in how pious Muslim women often do not have the option to melt away into the background when they feel vulnerable.

"We can nod and pretend to agree with people who we are afraid of, or plead ignorance if we feel in danger of confrontation," she said.

"But a Muslim is just right out there. Like a bullseye. Their hijabs and clothing speak before they do."