DUBAI (Reuters) – Dubai-based Saudi state-owned media companies will start moving staff this month to the capital Riyadh, sources said, as Crown Prince Mohammed bin Salman presses ahead with plans to remould the kingdom as a regional business hub. The move follows a Saudi government decision earlier this year to stop giving state contracts to companies and commercial institutions that base their Middle East headquarters in any other country in the region. MBC, Arabiya and Hadath are based in Dubai Media City, the United Arab Emirates’ media hub that hosts hundreds of media companies and most of their Middle East headquarters. Asharq News is based in Riyadh but has a large hub in Dubai International Financial Centre (DIFC). Asharq News, owned by Saudi Research and Marketing Group, said that since its inception Riyadh was the main hub for the network operations, with regional offices, including in Dubai.

Source: MetroXpress September 03, 2021 14:48 UTC