| Welcome to Global Village Space

Tuesday, May 21, 2024

Qatar Financial Centre adds to its reach through Bloomberg Television

Qatar Financial Center and Bloomberg Media Group recently launched joint ventures to further their reach. In a bid to boost Bloomberg's editorial reach in the region the media giant launched a studio in QFC.

Bloomberg Media Group, in the second week of September, launched its dedicated studios from Qatar Financial Center, (QFC) Doha. This marks a new agreement between QFC and Bloomberg to further advance Bloomberg’s presence and editorial coverage in the region. This now includes a remote Bloomberg Television studio for live reports from the QFC in Doha, adding this major financial capital, of the Middle East, to existing locations in Riyadh and Abu Dhabi. Bloomberg Television maintains the Middle East and Africa broadcasting hub in Dubai.

Simone Foxman of Bloomberg News will report regularly for Bloomberg Television out of the new Doha location. Simone is a graduate of Columbia University, New York and has recently moved to Middle East from New York City. The television reports, her studio will generate, will be broadcast into Bloomberg Television’s primetime morning show Bloomberg Daybreak: Middle East, which airs Sunday through Thursday at 8 am GST out of Dubai.

Bloomberg is a privately held financial, software, data, and media company headquartered in Midtown Manhattan, New York City with a strong presence across Europe through its London office. It was founded by Michael Bloomberg in 1981, with the help of Thomas Secunda, Duncan MacMillan, Charles Zegar, and a 30% ownership investment by Merrill Lynch.

This launch also marks a significant step towards expanding Qatar’s media industry by supporting the enhanced presence of one of the most respected media companies in the world.

Since then it has expanded to become a prestigious global giant, operating, as of 2019, from 167 locations with nearly 20,000 employees. Bloomberg has a limited presence in Pakistan, at Karachi, but it has large operations in India.

Bloomberg principally provides financial software tools and enterprise applications such as analytics and equity trading platform, data services, and news to financial companies and organizations through the Bloomberg Terminal its core revenue-generating product but it also provides a wire service (Bloomberg News).

In recent years, it has expanded with a global television network, websites, radio stations, subscription-only newsletters, and two magazines: Bloomberg Businessweek and Bloomberg Markets. Its coverage of the GCC region has continued to expand in recent years with the launch of regionally focused editorial platforms in 2016 and regular events.

At the eve of the launch of Bloomberg studios from QFC, Doha, Riad Hamade, Executive Director for the Middle East and North Africa, Bloomberg News, explained: “Building on our existing coverage of the region, this agreement will ensure more regular televised news from Qatar. Increasing our regional presence means we can give our viewers more content on the news that interests them,” Riad Hamade is based in Dubai.

Qatar Financial Center: Looking for Greater Impact

QFC works closely with Qatar Investment Authority (QIA) which makes world-wide investments and has around US $350 under its belt. QFC, on the other hand, facilitates international investments into Qatar by providing a one-window regulatory structure for potential investors. It offers platforms for arbitration and dispute settlement and has around 500 companies invested through it at the moment.

Yousaf Mohammad Al-Jaida, CEO QFC proudly explained this new initiative as: “We are honored to be bringing the global business media ingenuity and experience of Bloomberg to Qatar, and we believe the addition of the Bloomberg studio at the QFC further underscores the nation’s position as a thriving international media hub”. He further added: “Broadcast live from the heart of Doha’s financial district; Bloomberg Television’s audience will have access to accurate and high-quality reporting.”

Read more: Qatar & Pakistan building long term relationship

Sarah Al-Dorani, Chief Marketing Officer, Qatar Financial Centre says: “This agreement reaffirms Qatar’s growing role in the global market and reinforces QFC’s commitment to providing exposure to key stakeholders and companies on a thriving platform” She added:

“This launch also marks a significant step towards expanding Qatar’s media industry by supporting the enhanced presence of one of the most respected media companies in the world. Bloomberg’s presence at the QFC also speaks of the capability of our platform to support the growth of international companies to do business in Qatar and the region.”