Bloomberg and the Saudi Research and Marketing Group (SRMG), on Sunday, revealed the new branding for a multi-platform Arabic-language business and financial news service. Bloomberg and SRMG announced that the news service has been renamed to Bloomberg Asharq.
Peter Grauer, Chairman of Bloomberg L.P., and Dr. Ghassan Alshibl, Chairman, SRMG (pictured below), met yesterday in Dubai to officially announce Bloomberg Asharq. They also unveiled the platform’s logo, which incorporates Arabic characters with Bloomberg’s global brand recognition.
The announcement follows an agreement signed in September 2017 to launch a 24-hour television and radio network and digital platform, Bloomberg Businessweek magazine in Arabic, as well as a conference and live events series. The new brand Bloomberg Asharq 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 will include a 24/7 television and radio network and dedicated digital platform.
Bloomberg Asharq will be headquartered in Dubai, with the main operation in the Dubai International Financial Centre (DIFC). The DIFC's Gate Village 11 property, The Exchange, with views of the iconic Gate, will serve as the main hub for the media platform.
Bloomberg Asharq will also have a major presence in Abu Dhabi, Riyadh, and Cairo, with studios in each city, along with extensive presence and coverage in key cities across the 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. The news service will be supported by Bloomberg's extensive financial and economic content and market data as well as its global network of 2,700 journalists and analysts.
Speaking about the new TV and digital brand SRMG chairman Dr. Ghassan Alshibl said, "With headquarters in the U.A.E., 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,” added Dr. Ghassan Alshibl.
"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," added 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," Smith commented.