Alibaba-backed fund to build HQ in Saudi ‘media city’

Alibaba-backed fund eWTP Capital will build a new headquarters in a ‘media city’ in Riyadh. (AFP)
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Updated 05 February 2020
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Alibaba-backed fund to build HQ in Saudi ‘media city’

DUBAI/RIYADH: Saudi Arabia has signed an agreement with a fund linked to China’s Alibaba to build a new headquarters in a “media city” in the kingdom’s capital, the Saudi minister of culture said on Tuesday.

The minister, Prince Badr bin Farhan, said on Twitter that he signed the agreement with Jerry Li, founding partner of eWTP Capital, which is backed by Jack Ma, head of e-commerce giant Alibaba Group.

“An important first step to strengthen our partnerships and attract innovators from all over the world,” Prince Badr, who is also the chairman of the new media city, said on Twitter.

The minister also said an agreement had been reached to build a new headquarters for Saudi-controlled media group MBC, as well as a new hub for MBC-owned sister news channels Al-Arabiya and Al-Hadath.

The media city will be in the embassies district of Riyadh, state TV said on Twitter.

It will be in competition with Dubai Media City in the United Arab Emirates. The Dubai project is the region’s leading media hub and where MBC Group is currently headquartered.


Asharq Business with Bloomberg, Nasdaq to bring real-time US equities data to MENA

Updated 13 January 2026
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Asharq Business with Bloomberg, Nasdaq to bring real-time US equities data to MENA

  • Nasdaq to deliver exclusive real-time US equities market data
  • Real-time updates fully integrated into Asharq Business’ data infrastructure and available across all platforms

RIYADH: Asharq Business with Bloomberg, the region’s leading business and financial news multi-platform channel, announced Tuesday a strategic three-year collaboration with Nasdaq, to deliver exclusive real-time US equities market data and updates to investors and decision-makers across the Middle East. 

Through access to Nasdaq’s official data product, Nasdaq Last Sale (NLS), Asharq Business with Bloomberg will receive real-time last-sale trade updates and calculated insights across major US exchanges directly from the Nasdaq Market Center. The collaboration strengthens market transparency, enhances data-driven storytelling, and provides audiences and partners with deeper insight into global financial activity. 

With a rapidly growing investor base in the region — and with Nasdaq serving as a primary destination for many Arab and regional investors — Asharq Business with Bloomberg reinforces its mission to deliver timely, accurate, and exclusive financial updates by integrating NLS data into its digital platforms, live markets coverage, and broader data ecosystem. 

Leveraging its partnership with Bloomberg Media — which grants access to reporting from over 2,700 journalists and analysts worldwide — Asharq Business with Bloomberg continues to build on its reputation as the region’s most trusted and credible multi-platform business news source. The collaboration with Nasdaq underscores its commitment to providing reliable, data-backed content across social, digital, and streaming platforms, available for audiences anytime and anywhere. 

Dr Nabeel Al Khatib, General Manager of Asharq News Network, commented: “It has been five years since the inception of Asharq Business with Bloomberg, and our audience has always been at the center of everything we do. We invest time and effort to understand what matters to them, ensuring we deliver data and stories that genuinely support informed decision-making. With growing regional interest in global markets, our collaboration with Nasdaq marks a strategic step toward offering a clearer, more comprehensive view of international financial activity. Through Nasdaq Last Sale, we aim to further empower our audience with transparent, real-time insights, strengthening their ability to navigate an increasingly interconnected global investment landscape.” 

The Nasdaq leadership team added: “We are pleased to collaborate with Asharq Business with Bloomberg to broaden access to high-quality US market data in the Middle East. Through Nasdaq Last Sale, we aim to enhance transparency, support informed decision-making, and contribute to a more connected global investor community.”