Saudi media group SRMG inks deal to launch ‘Bloomberg Al Arabiya’ network

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Prince Bader bin Abdallah bin Mohammad bin Farhan Al Saud (L) with Mr. Michael R. Bloomberg, founder of Bloomberg L.P. and former mayor of New York City at the Bloomberg Global Business Forum in New York. (AN photo)
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Dr. Ghassan Alshibl, MD and CEO of SRMG (R) signing the Agreement with Justin Smith, CEO of Bloomberg Media in Bloomberg’s headquarters in New York. (AN photo)
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Dr. Ghassan Alshibl, Managing Director and CEO, SRMG (first right) Justin B Smith, CEO, Bloomberg Media (first left), John Micklethwait, Editor-in-Chief, Bloomberg (second left) and Mr. Abdulrahman Alruwaita, Chairman of the Executive Committee, SRMG. (AN photo)
Updated 21 September 2017

Saudi media group SRMG inks deal to launch ‘Bloomberg Al Arabiya’ network

RIYADH: Saudi Research and Marketing Group (SRMG) today said it has entered a long-term agreement with US-headquartered media firm Bloomberg to launch a multi-platform Arabic-language business and financial news service.
SRMG — publisher of Asharq Al-Awsat, Arab News and Aleqtisadiah — plans a 24-hour television and radio network and dedicated digital platform under the “Bloomberg Al-Arabiya” brand.
It will also publish “Bloomberg Businessweek” magazine in Arabic and launch a new conference and live events series, according to a statement from the company.
The Bloomberg Al-Arabiya platforms will provide Arabic-speaking audiences around the world with news and analysis on the companies, markets, economies and politics shaping the Middle East, the statement said.
Prince Bader bin Abdullah Al-Saud, chairman of SRMG, said the deal would give a boost to the regional media industry.
“We are very pleased with this promising partnership with Bloomberg. In addition to the many business opportunities this collaboration brings, we believe the partnership will greatly enhance the media landscape in our region,” he said.
“This is an exciting development for SRMG and a strong progression in our quest to offer the highest quality financial and business journalism from, and about the Middle East.”
Michael R. Bloomberg, founder of Bloomberg and former mayor of New York City, said, “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.”
Headquartered in the Gulf, the Bloomberg Al Arabiya team will be managed by SRMG with support from Bloomberg, and will draw on its financial and economic content and data as well as its 2,700 reporters and analysts globally.
“Our partnership with SRMG is a significant milestone in our regional growth story, building on the introduction of an expanded suite of new media platforms in the Middle East last year,” said Justin B. Smith, CEO of Bloomberg Media Group. “This agreement is an integral part of our strategy of forming partnerships with leading news providers in markets that have a compelling economic growth story, as we look to further expand our localized international presence.”
Dr. Ghassan Al-Shibl, managing director and CEO of SRMG, said: “As one of the biggest media publishing houses in the Middle East, this partnership between SRMG and Bloomberg will see us expand into the international television business. With the new era of business and economic transformation in the Kingdom of Saudi Arabia, such a significant agreement between two leading brands will pave the way for a multi-platform ecosystem of specialized business and financial content of international standards. This is the beginning of a new chapter in the history of media and publishing in the region.”
Bloomberg editor in chief John Micklethwait said: “Bloomberg Al Arabiya will enable us to build on more than 20 years of newsgathering across the Arab world to deliver the best of Bloomberg’s news, insight and analysis.”


Apple’s Cook meets China regulator after pulling Hong Kong app

Updated 18 October 2019

Apple’s Cook meets China regulator after pulling Hong Kong app

  • Apple last week removed from its app store an app that helped Hong Kong protesters track police movements
  • A Chinese state newspaper has sharply criticized Apple for allowing the software

BEIJING: Apple CEO Tim Cook met the chief of China’s market regulator in Beijing on Thursday, the Chinese agency said, a week after the US firm was thrust into the midst of political tensions between the mainland and protesters in Hong Kong.
Apple last week removed from its app store an app that helped Hong Kong protesters track police movements after a Chinese state newspaper sharply criticized it for allowing the software. The company said the app, HKmap.live, was used to target the police.
Cook had defended the removal in the face of criticism for appeasing mainland China, telling Apple workers that “this decision best protects our users.”
China’s State Administration for Market Regulation said in a statement on its website that its chief, Xiao Yaqing, and Cook discussed topics including Apple expanding investment in China, consumer rights protection and fulfilling corporate social responsibility. It did not give more details.
Apple did not immediately respond to a request for comment.
China is a key market for Apple. Apple’s smartphone market share fell to 5.8 percent in the June quarter from 6.4 percent in the same period a year ago, according to research firm Canalys, as China’s homegrown Huawei Technologies Co. Ltd. became the dominant smartphone seller.
The meeting also comes days before China holds the World Internet Conference in Wuzhen in China’s eastern Zhejiang province. The event in the past has attracted overseas company executives, foreign diplomats and Chinese government officials.
It was not immediately clear if Cook will be a participant at the conference this year. He last attended the event in 2017.