Al Bawaba.com, the Jordan based Arabic/English news portal, has unveiled its stand-alone Internet site MenaReport.com. The new site delivers business and financial news on the Middle East and North Africa region.
Mena Report is the latest regional business and finance portal. Menafn.com and Zawya.com have similar offerings, each with different revenue modules. “Our strength is analysis and research and how we present information. The new site is a showcase of Al Bawaba’s technological and financial strength,” Hani Jabsheh, director and founder of Al Bawaba, told ITP.net. “We provide continuous coverage by working with specialised entities like UFICO in Jordan and Prime Securities in Egypt.”
Al Bawaba, which is emerging after 4 months of restructuring its business, built Mena Report in less than a month. It hopes to set a new standard as far as business information and delivery of content is concerned. Mena Report’s content is derived from Al Bawaba’s site, its own editors in addition to freelance writers, and wire feeds from Reuters.
“The Middle East and North Africa region represents an immense opportunity for business growth,” said Jurgen Leschke of TFG venture capital, one of the backers of Al Bawaba and Mena Report. “Access to sound market information allows business opportunities to be identified, and thus the formation and success of new ventures. MENA Report will be a vital resource both for businesses to expand into the Middle East and for home-grown initiatives.” Visitors to the site will be able to obtain market data and financials by accessing Mena Report’s online database.
Al Bawaba, which is backed by New York-based venture capitalist THCG, as well as by TFG and Middle East Internet Holdings, says it is trying to raise additional capital. This funding will be pumped into expanding Al Bawaba’s sales and marketing efforts in the GCC and Egypt, according to Jabsheh.
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