Bloomberg, the financial software, data, and media company headquartered in the USA, has announced it is going to invest in producing financial news in the Arabic language.
Arabic translations focused on finance and media are about to get a huge boost as Bloomberg has signed a 10-year deal with Saudi Research and Marketing Group, a state-owned Saudi publisher, to launch the new channel, Bloomberg Al Arabiya.
As well as a 24-hr TV station the deal also sees the maintenance of a radio network, digital platform, website and magazine – all to be published in Arabic.
According to news sources the TV channel will be based in Riyadh, Saudi Arabia as well as having studios here in Dubai.
The network is expected to launch in the next 12 months with Arabic website and magazine to launch within 6 months.
The channel will be managed by the Saudi publisher with Bloomberg’s support.
“We will always be working in collaboration together to create the best finance and business platform in the Arabic language.”
What does this mean for Arabic translations?
Decisions such as this have noticeable impacts on the translation sector.
For one, new players in such markets create more demand. Within a limited pool of resources, this can be tough. This will further increase the need for media-savvy Arabic linguists and translators, capable or traversing the pressures of punctuation, politics and publishing deadlines.
New challenges also breed innovation. With the increased demand to produce accurate, quality and timely translations within budgets there also comes the development in areas such as translation memory, glossaries and linguistic-consolidation for financial and media translations.
Exciting times ahead for the Arabic translation industry!
