Does the Bloomberg deal with ADGM impact its impartiality or not?

Does this deal with ADGM (pictured) mean something for Bloomberg's journalistic impartiality in the region?

Does this deal with ADGM (pictured) mean something for Bloomberg’s journalistic impartiality in the region?

The issue of impartiality is one which is seldom discussed in the Middle East – this probably isn’t a surprise when considering that much of the region’s press is owned by some form of government authority. However, when it comes to international media the issue of impartiality is a different story. Journalists from abroad, news wires in particular, often have to navigate the challenging waters of what to report on and how to report. They know that the consequences of their work can be dire, and I have known several brave journalists who have been asked to leave the country they were based in. For me, they’re often the most trusted source of information.

The deal between Bloomberg and Abu Dhabi Global Market (ADGM), the aspiring, brand new international financial centre located in the heart of the UAE’s capital city, was announced last week. The deal, which had been in the works for some time, will include the following details as reported by The National:

The partnership will involve major media initiatives from a new office on ADGM’s Al Maryah Island base, including a dedicated digital platform, new programming and an annual conference of global business leaders in the capital.

Tracy Alloway, Bloomberg’s executive editor of markets, based in New York, and a former Financial Times US correspondent, will lead the ADGM editorial operation.

The TV centrepiece of the new initiative will be a daily global markets programme, from new studios in the Dubai International Financial Centre, which will include editorial content from Ms Alloway broadcast live from ADGM.

A new “anchor” broadcaster will soon be named to present the show, which will seek to bridge the gap between Asian and European markets in Bloomberg’s global network.

There will also be a dedicated Middle East edition of the Bloomberg website, with original input from its 80-strong editorial team, headquartered in Dubai.

I heard about the deal some time back, and what was said to me was that ADGM would be financially supporting Bloomberg’s news organization in Abu Dhabi. It’s a great deal for ADGM, which was recently set up and which has aspirations to become a global hub for financial trading. Alongside the likes of Reuters and Dow Jones, Bloomberg is a global name when it comes to business reporting.

However, is impartiality impacted when money is involved? How will Bloomberg report bad news from ADGM? And how would ADGM respond? All of us who have worked in the media industry in the region know stories of how publishers will behave differently for advertisers, often not reporting negative pieces and instead pushing out good news.

Bloomberg is a different proposition to a local publication; its reporters do write everything, warts and all. Similarly, there’s been a major push to make ADGM a global player on the financial stage, with experienced executives brought in from Singapore and London.

For the sake of argument, let’s address the elephant in the room. As a matter of principle, should Bloomberg have said yes to the deal? Even if no reporting lines are broken, does the deal imply that there could be a measure of bias? Time will tell and each and every organization has its ups and downs. I’m looking forward to seeing Bloomberg’s new setup in ADGM and what it means for journalism and impartiality in the Middle East.

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