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Bloomberg Media Group Chief Executive Officer: Partnering with SRMG to Have Distinctive Impact

Bloomberg Media Group chief executive officer Justin B. Smith
Bloomberg Media Group chief executive officer Justin B. Smith
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Bloomberg Media Group Chief Executive Officer: Partnering with SRMG to Have Distinctive Impact

Bloomberg Media Group chief executive officer Justin B. Smith
Bloomberg Media Group chief executive officer Justin B. Smith

New York- Bloomberg recently signing a long-term agreement with Saudi Research and Marketing Group (SRMG) to launch an Arabic multi-platform for business and financial news service is expected to provide a qualitative transition touching on uncharted territory.

The arrangement promises exceptional press, media, technology, businesses, investment and artificial intelligence advances.

According to this agreement, SRMG, publisher of Asharq Al-Awsat, Arab News and al-Eqtisadiah, will launch a 24-hour television and radio network, an integrated digital portal and a dedicated digital platform under the “Bloomberg al-Arabiya” brand.

It will also publish “Bloomberg Businessweek” magazine in Arabic and launch a new conference and live events series.

Bloomberg al-Arabiya platforms will provide Arabic-speaking audiences around the world with news and analysis on the companies, markets, economies and politics shaping the Middle East.

Speaking to Asharq Al-Awsat, Bloomberg Media Group chief executive officer Justin B. Smith says that Bloomberg has a strong global presence. However, he cites that the group, until this very moment, hasn’t sealed any deep and distinctive partnership or investment in Arabic in the Middle East.

The group realized managing some English media platforms in the Middle East is quite limited, said Smith.

Consequentially, Bloomberg turned its attention to markets in the Middle East and North Africa, which are dynamic markets growing tremendously.

Signing the agreement with a company with a publishing capacity as large as SRMG’s was the first step in entering those markets in Arabic.

With strong regional and local presence, SRMG’s wide-reaching publications and digital platforms are available across the Arab world, said Smith.

This partnership is a bilateral cooperation, that is to say, Bloomberg has the expertise, skills and capabilities in the field of economic and financial reporting and SRMG’s expertise in the Middle East and the Arabic language.

Our goal is to create a leading company for economic journalism in Arabic through various media outlets serving economic and financial decision makers and businessmen, added Smith.

A large part of economy-related media content Bloomberg publishes will be translated from English into Arabic along with other material from within Saudi, Gulf and Arab markets.

Bloomberg’s team is composed of 2,700 editors, journalists and financial and economic analysts spread across the world. The team leads one of journalism’s largest operations internationally.

Thousands of reports on world economy are produced daily, with an estimated 5,000 stories per day, said Smith.

Collaboration with SRMG will be on translating Bloomberg content and adding local, Gulf and Arab content--editors will then identify and select economic content apt for markets.

Investors, whether concerned with the Middle East, the European market or the US want to know as much details and economic news as possible in an immediate and detailed fashion, and not just an overview.
Smith said that it is expected that this partnership and information products it provides will have a huge impact.

Full news coverage of economic events, markets and emerging business play a key factor in directing the interest of investors.

There are already investors in the United States who are particularly interested in the Saudi market, said Smith.

Bloomberg has more financial and economic information than any other company on the planet and offers it across multiple platforms.

Partnering with SRMG is unique because it focuses on the entire Middle East region, explained Smith.

The company's strong ambitions to maximize their potential also make this partnership unique, he added.

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Syrian Minister of Economy: Sanctions Relief Tied to Reforms

Syrian Minister of Economy and Industry Nidal Al-Shaar standing in line outside Al-Razi Bakery in Aleppo Province, listening to citizens’ concerns (Facebook page). 
Syrian Minister of Economy and Industry Nidal Al-Shaar standing in line outside Al-Razi Bakery in Aleppo Province, listening to citizens’ concerns (Facebook page). 
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Syrian Minister of Economy: Sanctions Relief Tied to Reforms

Syrian Minister of Economy and Industry Nidal Al-Shaar standing in line outside Al-Razi Bakery in Aleppo Province, listening to citizens’ concerns (Facebook page). 
Syrian Minister of Economy and Industry Nidal Al-Shaar standing in line outside Al-Razi Bakery in Aleppo Province, listening to citizens’ concerns (Facebook page). 

Syrian Minister of Economy and Industry Nidal Al-Shaar stated that while the serious lifting of US sanctions on Syria could gradually yield positive results for the country’s economy, expectations must remain realistic, as rebuilding trust in the Syrian economy is essential.

In an exclusive interview with Asharq Al-Awsat, Al-Shaar described the removal of sanctions as a necessary first step toward eliminating the obstacles that have long hindered Syria’s economic recovery. Although the immediate impact will likely be limited, he noted that in the medium term, improvements in trade activity and the resumption of some banking transactions could help create a more favorable environment for investment and production.

The breakthrough came after Saudi Crown Prince Mohammed bin Salman successfully facilitated a thaw in relations between Washington and Damascus, ultimately convincing the US president to lift sanctions on Syria. During his historic visit to Saudi Arabia last Wednesday, President Donald Trump announced he would order the removal of all sanctions on Syria to “give it a chance to thrive”—a move seen as a major opportunity for the country to begin a new chapter.

Al-Shaar cautioned, however, that Syrians should not expect an immediate improvement in living standards. “We need to manage the post-sanctions phase with an open and pragmatic economic mindset,” he said, stressing that real progress will only come if sanctions relief is accompanied by meaningful economic reforms, increased transparency, and support for the business climate.

He added that Syrians will begin to feel the difference when the cost of living declines and job opportunities grow—an outcome that requires time, planning, and stability.

According to Al-Shaar, the first tangible benefits of lifting sanctions are likely to be seen in the banking and trade sectors, through facilitated financial transfers, improved access to essential goods, and lower transportation and import costs. “We may also see initial interest from investors who were previously deterred by legal restrictions,” he said. “But it’s important to emphasize that political openness alone isn’t enough—there must also be genuine economic openness from within.”

He also underscored the importance of regional support, saying that any positive role played by neighboring countries in encouraging the US to lift sanctions and normalize ties with Damascus “must be met with appreciation and cooperation.” Al-Shaar emphasized that robust intra-Arab economic relations should form a cornerstone of any reconstruction phase. “We need an economic approach that is open to the Arab world, and we could see strategic partnerships that reignite the national economy—especially through the financing of major infrastructure and development projects.”

When asked whether he expects a surge in Arab and foreign investment following the lifting of sanctions, Al-Shaar responded: “Yes, there is growing interest in investing in Syria, and several companies have already entered the market. But investors first and foremost seek legal certainty and political guarantees.” He explained that investment is not driven solely by the removal of sanctions, but by the presence of an encouraging institutional environment. “If we can enhance transparency, streamline procedures, and ensure stability, we will gradually see greater capital inflows—especially in the service, industrial, and agricultural sectors.”

As for which countries may play a significant role in Syria’s reconstruction, Al-Shaar said: “Countries with long-term interests in regional stability will be at the forefront of the rebuilding process. But we must first rebuild our internal foundations and develop an economic model capable of attracting partners under balanced conditions—ones that protect economic sovereignty and promote inclusive development.”

The minister concluded by stressing that lifting sanctions, while significant, is not the end of the crisis. “Rather, it may mark the beginning of a new phase—one filled with challenges,” he said. “The greatest challenge isn’t securing funding, but managing resources wisely, upholding the principles of productivity, justice, and transparency. We need a proactive—not reactive—economy. We must restore the value of work and implement policies that put people at the center of development. Only then can we say we are beginning to emerge from the bottleneck.”

Last Wednesday, Riyadh hosted a landmark meeting between the Crown Prince, Trump, and Syrian President Ahmad Al-Sharaa—marking the first meeting between a Syrian and a US president since Hafez Al-Assad met Bill Clinton in Geneva in 2000.

Most US sanctions on Syria were imposed after the outbreak of the country’s conflict in 2011. These targeted deposed President Bashar Al-Assad, members of his family, and various political and economic figures. In 2020, additional sanctions came into effect under the Caesar Act, targeting Assad’s inner circle and imposing severe penalties on any entity or company dealing with the Syrian regime. The Act also sanctioned Syria’s construction, oil, and gas sectors and prohibited US funding for reconstruction—while exempting humanitarian organizations operating in the country.