Bloomberg Media, SRMG announce first-ever Power Players Summit in Jeddah

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Updated 15 February 2024
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Bloomberg Media, SRMG announce first-ever Power Players Summit in Jeddah

  • The Summit features leading figures from the sports industry, convening to discuss the trends and moves shaping the future of the global sports industry
  • Speakers include Saudi Arabia’s Minister of Investment Khalid Al-Falih and Zak Brown, CEO of McLaren, among many others

JEDDAH: Bloomberg Media and SRMG announced today the first-ever Bloomberg Power Players Summit, Powered by Asharq Business with Bloomberg in Saudi Arabia. The Summit will take place on 7 March 2024 at the Jeddah Yacht Club, alongside the Formula One Saudi Arabian Grand Prix.

The event will bring together influential voices in the business of sports, entertainment, and technology to identify the next potential wave of disruption and multibillion-dollar investments.

Hosted by Bloomberg’s Business of Sports Chief Correspondent Jason Kelly, the summit will explore key trends and topics shaping the future of sports. Discussions will focus on critical issues such as the influence of private equity in sports investing, evolving dynamics in the world of football with a particular emphasis on the MENA region, and the rise of new opportunities in the esports sector.

The initial speaker lineup features prominent names in the sports industry, each bringing their unique expertise to the Summit. Confirmed speakers include Khalid Al-Falih, Saudi Arabia’s Minister of Investment; Zak Brown, CEO of McLaren; Ralf Reichert, CEO of Esports World Cup Foundation; Carlo Nohra, COO of Saudi Pro League; Susie Wolff, Managing Director of the Formula One Academy; Amanda Staveley, Co-CEO of Newcastle United FC; Craig Levine, Co-CEO of ESL FACEIT Group; Dino Young, Founder and CEO of VSPO; Vikram Solanki, Director of Cricket, Gujarat Titans; and Gemma Wright, Senior Managing Director of CVC.

More than 150 esteemed guests, including CEOs and leading decision-makers from leading sports companies are expected to attend, with the Summit’s content accessible globally via Asharq News, Asharq Business with Bloomberg and Bloomberg’s television, radio, and digital platforms.

Karen Saltser, CEO of Bloomberg Media, said, “The inaugural Bloomberg Power Players Summit in Jeddah will serve as a pivotal platform for dealmakers, risk takers and game changers from business, investing, sports, media, and entertainment. The experience is designed to foster meaningful conversations against the backdrop of Saudi Arabia’s dynamic socio-economic landscape, where sports are gaining increasing prominence.”

Jomana R. Alrashid, CEO of SRMG, said, “This summit represents a valuable opportunity to exchange ideas about the future of sports and highlight investment opportunities in this important and growing industry worldwide. Saudi Arabia has emerged as a key player in driving innovation in the sports industry, with a comprehensive strategy over the past several years. The positive impact that this investment has had on tourism, job creation and the socio-demographic of the country and the region, is the reason we partnered with Bloomberg Media to host the Bloomberg Power Players Summit in Saudi Arabia.”

The Bloomberg Power Players Summit is the latest component of the content agreement between SRMG and Bloomberg Media, originally signed in 2018 with the launch of Asharq Business with Bloomberg. The agreement has since expanded to include Asharq Quicktake, the Arabic edition of the Quicktake streaming news platform, and Radio Asharq with Bloomberg, the region’s first Arabic-language radio station dedicated to business news and financial insights.


Saudi Press Agency honored at Arab Media Excellence Awards

Updated 30 May 2024
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Saudi Press Agency honored at Arab Media Excellence Awards

DUBAI: The Saudi Press Agency was honored on Wednesday at the 8th Arab Media Excellence Awards in the Crisis, Disaster, and Risk Media section of the digital media category.

The agency’s winning entry was an investigative report titled “King Salman Humanitarian Aid and Relief Center works to deliver aid to Gaza Strip within three priorities: food, shelter, and health.”

Fahd Al-Aqran, the president of the SPA, accepted the trophy during an awards ceremony on the sidelines of the 54th session of the Council of Arab Information Ministers in Manama.

Organizers said they received more than 100 entries for this year’s awards across television, radio, newspaper and digital media, the SPA reported.

The awards were introduced in 2015 by the Council of Arab Information Ministers to encourage creativity, innovation and media excellence among government and accredited media institutions, Arab organizations, federations with observer status within the Arab League, and media personalities.


MBC Group to launch Arabic adaptation of ‘The Good Wife’

Updated 29 May 2024
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MBC Group to launch Arabic adaptation of ‘The Good Wife’

  • ‘Moftaraq Toroq’ is produced by Charisma Group, will air on Sunday
  • Show aims to ‘set a new standard for Egyptian long-form series,’ MBC says

DUBAI: MBC Group has announced the launch of Egyptian TV series “Moftaraq Toroq,” an Arabic-language adaptation of the legal drama “The Good Wife.”

Licensed by Paramount Global Content Distribution and produced by Charisma Group, the show is set to premiere on MBC’s streaming platform Shahid on Sunday.

Written by Sherif Badreddine and Wael Hamdy and directed by Ahmad Khaled Moussa and Mohamad Yehya, the drama stars Hend Sabri, Eyad Nassar, Majed Al-Masri, Joumana Murad and Noha Abdeen.

It aims to “set a new standard for Egyptian long-form series” and “marks a significant milestone in the evolution of Arab television,” said Tareq Al-Ibrahim, director of MBC1, MBC Drama and SVOD content at MBC.

“Moftaraq Toroq” tells the story of Amira, a wife and mother whose life takes a sudden turn when her husband gets caught up in a public scandal.

“In the landscape of Egyptian TV series, ‘Moftaraq Toroq’ stands as a departure from the conventional,” said Aiman Al-Ziyoud, CEO and president of Charisma Group.

“While audiences may be familiar with the trials of soapy series, mainly Turkish adaptations to Arabic, ‘Moftaraq Toroq’ introduces a novel genre altogether.”

MBC said the show had been adapted to reflect cultural nuances.

“It is incredible to see how the storyline and these characters in the adaptation have been transformed to fit into the local landscape and culture so effortlessly,” said Roxanne Pompa, vice president of international formats at Paramount Global Content Distribution.

“The Good Wife” is produced by CBS Studios in association with Scott Free Productions and King Size Productions. Charisma Group acquired the format rights for the adaptation from Paramount Global Content Distribution.


London’s Evening Standard to move to weekly print edition

Updated 29 May 2024
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London’s Evening Standard to move to weekly print edition

  • British freesheet said move is needed to secure title’s long-term future

LONDON: London’s Evening Standard newspaper on Wednesday announced plans to shift from its daily print edition to a weekly format.

The outlet said the decision was driven by several factors, including the introduction of Wi-Fi on the London Underground, fewer commuters due to the increase on the number of people working remotely, and changing reader habits.

“The substantial losses accruing from the current operations are not sustainable. Therefore, we plan to consult with our staff and external stakeholders to reshape the business, return to profitability and secure the long-term future of the No.1 news brand in London,” Paul Kanareck, the newspaper’s chair, told staff on Wednesday morning.

He said the company planned to launch “a brand new weekly newspaper later this year and consider options for retaining ES Magazine — the company’s weekly magazine — with reduced frequency.”

Kanareck emphasized a strategic shift toward enhancing the newspaper’s digital presence, which currently averages 12 million monthly visitors.

The Evening Standard, owned by Russian-British businessman and co-owner of The Independent, Evgeny Lebedev, has accumulated millions of pounds in debt over the past few years.

The memo also indicated that the plans and their impact on staff levels would be subject to consultation, raising concerns about potential job losses.

Founded in 1827, the Standard was bought by Lebedev in 2009 for just £1 ($0.80).

Since then, the London newspaper transitioned to a freesheet format, with average distribution dropping from nearly 900,000 copies 10 years ago to 270,000 today.

The new proposed weekly Evening Standard, Kanareck said, will feature “more in-depth analysis of the issues that matter to Londoners, and serve them in a new and relevant way by celebrating the best London has to offer.”

These changes, he said, will “reinforce the relationship between our 24/7 digital platforms and our weekly publication.”


Trump’s Arab-American supporters to launch committee, advert undermining Biden

Updated 29 May 2024
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Trump’s Arab-American supporters to launch committee, advert undermining Biden

  • Arab News gets exclusive look at #YallaTrump2024 campaign
  • Graphic video targets Biden’s support of Israel’s war on Gaza

Chicago, US: Arab Americans who support Donald Trump’s reelection have set up a new political action committee to strengthen public “understanding” of why he is a better choice than President Joe Biden, and will broadcast a video advertisement claiming the latter has betrayed the community, Arab News has learned exclusively.

The new body, named Arab Americans for a Better America or ABE-PAC, was formed this week following a series of meetings Trump supporters held with community leaders in several cities.

The first meeting was held in Troy, Michigan on Tuesday, May 21, 2024, featuring several speakers including Massad Boulos and his son Michael who is married to Trump’s daughter, Tiffany.

It was co-organized by Bishara Bahbah, the national chairperson of Arab Americans for Trump, an independent organization that is separate from the official Trump campaign. A keynote speaker at the meetings is Trump’s former director of National Intelligence, Richard Grenell.

“A new Republican Arab-American political action committee has been formed to support conservative causes and Trump’s reelection,” said Oubai Shahbandar who is coordinating the cross-country meetings between the former president’s supporters and Arab voters.

“It’s called ABE-PAC and we will announce it later this week with a hard-hitting, inaugural video ad that we will be distributing throughout the Arab-American community.”

The new advertisement slams Biden for his “broken promises” and includes an array of images that is meant to depict his support and funding of Israel’s military assault on Palestinians in the Gaza Strip.

It features Biden saying: “Who cares about the Arab population.” The two-minute video has graphic images of the carnage in Gaza including the recent bombing of a refugee camp in Rafah that killed many Palestinian women and children.

The advertisement also features references to the growing #AbandonBiden movement which has urged Arab and Muslim voters to reject the US president in key Democratic primary elections and “swing states” where he barely defeated Trump in the 2020 election.

Arab News was given an exclusive look at the campaign video which is built on the slogan #YallaTrump2024 and funded by Republican and conservative Arab Americans from across the US.

Biden and Trump, who won their party election primaries in July and August respectively, will likely face-off in the Nov. 5 presidential election.

Voters have expressed skepticism about both candidates, with many Americans saying they are not enthusiastic about their choices.

An IPSOS survey in May revealed that the main issue landscape remains mixed, but any future developments in the war in Gaza are expected to push the needle one way or another.


UAE’s Anwar Gargash urges peaceful resolution amid ‘monstrous’ Gaza violence

Updated 29 May 2024
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UAE’s Anwar Gargash urges peaceful resolution amid ‘monstrous’ Gaza violence

  • Advisor to the UAE president says Arab peace initiative underway
  • Israel’s ‘criminal government’ does not reflect ‘values’ of Judaism

DUBAI: Dr. Anwar Gargash, diplomatic advisor to the UAE president, says the violence in Gaza has reached “monstrous levels” and called on the international community to find a peaceful solution to the carnage.

Speaking on the final day of the Arab Media Forum in Dubai on Wednesday, Gargash expressed shock at the scale of the violence in Gaza.

“The targeting of innocents have taken on monstrous levels. We have witnessed wars in Palestine before but never at such a level of monstrosity,” he said. “The region cannot sustain further escalations.”

Gargash reaffirmed that neighboring Arab countries support the Palestinian cause.

“We believe in the cause, our conscience simply will not permit us to abandon our support to Palestine especially in light of the ugliness we see today coming out of Gaza and most recently from Rafah.

“The current right-wing, criminal government in Israel does not equate (to) Jewish values.”

Gargash highlighted the UAE’s continued support for Gaza and said the displacement of Palestinians from “spot to spot” must end.

“Israel is undermining itself with its current policies and actions. We support the establishment of the Palestinian state. We need a clear roadmap to guarantee its independent establishment. If both sides wish to live in peace this is the only way to go.”

He mentioned an ongoing Arab initiative aimed at fostering peace, warning that states must take control of the situation to prevent further chaos.

“While the global conscience has been awakened, we cannot wait for the world,” he noted. “Active steps and initiatives must be taken now or else this will remain a pipe dream.”

Participating in a panel discussion, the Emirati diplomat also accused the international community of double standards.

“Look at the difference of approach between Ukraine and Palestine. Mind you, both are still going through war. The old approaches must go, the current system is not working anymore to solve anything. We need to find new ways and cooperation for a better outcome.”

He urged Arab states to unite and collaborate beyond politics, and added that the UAE was committed to expanding regional ties and mending relations with Iran.

“For the past 12 to 15 years with all the events that happened in the Arab world, we saw it give way to radical ideologies, rise of militias, vacuum powers filled in with outside influences, and ideologies that sprung about opposing healthy nationalism.

“We continue to deal with these problems. We need a better cooperation between Arab states, a willingness to change old, sick module, for the collective betterment of the region.”