CNBC turns to Arabian business

As if Al Arabiya, Abu Dhabi and Al Jazeera were not enough, CNBC Arabiya is set to offer satellite viewers up to the minute economic and business news.

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By  John Irish Published  May 22, 2003

Following the recent launch of the Al Arabiya news channel, the Middle East is set to see the arrival of a major business news outlet, CNBC Arabiya.

The new venture, which is owned by Middle East Business News (MEBN) under a licensing agreement with CNBC, will begin operating from Dubai Media City (DMC) in June.

“We focus on the financial, business and economic implications of regional events and their impact on everyday life of the region,” said Dr Walid Kurdi, CNBC Arabiya news editor. “Thus we aim to provide a platform to an ongoing inter-Arab discussion on globalization, employment, career, business and investment opportunities, living standards, infrastructure development and other relevant issues.”

CNBC Arabiya becomes the second Arabic language business news broadcaster in the Middle East, following the launch of the Dubai Business satellite channel in 1999.

“The broadcasting sector in Dubai Media City has been growing rapidly this year and the addition of CNBC Arabiya will add value and diversity to this sector,” said Abdulhamid Juma, CEO, Dubai Media city.

Kurdi added that he believed the channel would fill a gap in the information needs of satellite television audiences, stressing that it would cater not only to normal viewers, but also the business community.

Rick Cotton, president, CNBC Europe indicated that both his network and CNBC Asia, which currently work in tandem with NBC and Dow Jones & Company, would provide the channel with access to its news resources. “CNBC Arabiya is an important development for CNBC and the region,” he said.

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