Saudi Arabia’s Prince Alwaleed bin Talal has confirmed his plans for yet another Arabic all-news channel. ‘Alarab’ is going to target Arabic viewers in the region and around the world, and will be a joint-venture between his Kingdom Holdings and Rotana group.

Bloomberg TV will have a 5 hour financial news block on the channel. No launch date, other than “next year” has been given.

In a statement, the company said: “Alarab will focus editorially on the important shifts taking place across the Arab world with an emphasis on freedom of speech and freedom of press. Furthermore, it will uphold the principle of free transfer of information as well as, objective, balanced and credible reporting. The News channel will cover the latest developments around the world and will also highlight political, social and economic issues in Saudi Arabia and the Arab world.”

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