Prince Alwaleed bin Talal is reportedly looking to launch an Arabic financial news channel. Arabian Business says his Kingdom Holdings is in talks with Bloomberg about a joint-venture that would compete directly with Dubai-based CNBC Arabia, a financial news channel that has been on air since 2003.

Should the channel get the go-ahead, it would be competing directly with BSkyB’s Sky News Arabia which goes on air early next year and is actively recruiting staff. Prince Alwaleed is a seven per cent shareholder, the largest after the Murdoch family, in News Corp.

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