It has never been about freedom of religion not for those of us who oppose the mosque – and I suggest not for some who support it. It is not about whether they have the right to build it there but as Potus finally admitted about the wisdom of building it there and now let’s talk about Bloomberg’s profound interest in building it there!
Since Nancy Pelosi suggested that those who oppose the Ground Zero Mosque be investigated I thought it only fair to investigate those who are in favor of the Mosque.
I started with the biggest loudest going to burst a gasket when he speaks in the language of Mosque, the Mayor of NYC Michael Bloomberg. He has been very busy labeling those who oppose the mosque as “haters” he is also busy with Bloomberg.com. For those of you who don’t know Michael Bloomberg is in the news gathering business and as it seems he is earning and stands to earn billions more in the Islamic news gathering business.
Bloomberg makes Dubai a hub
Spurred by a recent boom in sales in the region, Bloomberg is expanding its Dubai office into a regional hub, a move that will as much as quadruple its local staff over the next year.
Max Linnington, the company’s newly appointed regional head of Middle East and South Asia, announced the expansion today in advance of a panel discussion with economists and dignitaries in front of the Dubai International Financial Centre’s iconic The Gate building, where Bloomberg has had offices for two years.
“We are going to be bringing all the elements of what you would find in one of Bloomberg’s largest offices here in Dubai,” he said.
Although Bloomberg gathers its news and data from bureaus all over the globe, it currently sells its terminals from seven main hubs: London, New York, Tokyo, Hong Kong, Sydney, Sao Paolo and San Francisco.
The company has had a presence in Dubai for a decade. The planned expansion would increase its staff from 25 to 40 by the end of the year, and to as many as 100 by the middle of next year, Mr Linnington said.
The decision to expand was prompted by strong regional sales of its terminals, which provide financial news and data to bankers, traders, portfolio managers and corporations, as well as to other journalists.
“The region for us has seen explosive growth,” he said. “For example, last year in the UAE, we grew our core business by 61 per cent. And already this year, we exceeded what we achieved in all of last year in the UAE. So we are selling a lot of Bloomberg terminals, basically.”
The company has also been developing an Islamic finance portal, which Mr Linnington said would be helped by having more people on the ground building relationships.
“Particularly since the meltdown of the western capitalist system, there has been an increasingly large focus on the virtues of Islamic finance,” he said. “Today, there is no one single provider of information that caters to the Islamic finance market. So by Bloomberg being here, we are in the process of building out an Islamic finance product. We are very confident that we can build a product that meets the needs of the market right now.”
Despite the fact that its client base of financial professionals has been among those hardest hit by the economic crisis, Mr Linnington said the company’s business “is up fairly significantly in today’s environment”.
The company services about 300,000 terminals worldwide, bringing in about US$5 billion (Dh18.37bn) in annual revenues, he said. It has news bureaus throughout the GCC, including in Bahrain and Kuwait, and is in the process of opening offices in Saudi Arabia and Qatar. A news bureau was also planned for Abu Dhabi, he said.
The new regional hub will cover the GCC, Iraq, Jordan, Lebanon, Egypt, Afghanistan, Pakistan, India, Sri Lanka, Bangladesh and Nepal. The office’s expansion will take place across the sales, journalism and data departments, and its services will eventually include a local help desk.
But while Bloomberg is boosting numbers in the Gulf, hundreds of media jobs are being made redundant in the US as the global financial crisis continues to take its toll on the media industry in the West. http://www.thenational.ae/article/20081029/BUSINESS/302158245/1005
On March 10, 2010, the Khaleej Times Bloomberg Set for Dubai expansion in bid to double revenues by 2014.
ENAFN – Khaleej Times) Bloomberg, a leading global provider of financial data and news services, plans to “significantly” boost regional operations from its Dubai hub as it is bullish about the growth prospects of the emirate as a global financial centre, a top executive of the company said.
The New York-based company has drawn up a five-year plan that will see it achieving a two-fold increase in revenue from the Middle East region by 2014 on the back of an expected surge in news and data terminal sales, besides additional income from new services and more localised products that are in the pipeline, Peter T. Grauer, Chairman and Managing Director of Bloomberg, told Khaleej Times during his recent visit to Dubai.
Grauer said he was upbeat about Dubai’s recovery prospects. “Like any other financial centres in the world, Dubai is on a recovery path. From our perspective, we have a very huge expectation about Dubai. We believe Dubai has the infrastructure and legislation to serve as the financial hub of the region,” he said. Bloomberg, which expects “a modest growth” in 2009, also has plans to expand its news bureau network. The company is opening its second news bureau in the UAE in Abu Dhabi within weeks. In the GCC, its network is now spread over in Bharain Kuwait, Qatar and Saudi Arabia. Worldwide, it has 145 news bureaus in 68 countries.
“Central to our growth strategy is the doubling of staff strength in Dubai office, our 10th regional hub, from 48 to 100 people with in a year,” said Grauer.
Currently, Bloomberg has a total workforce of 175 in the Middle East region, with India accounting for almost 100 people.
“We will be investing not just in more people but also in infrastructure to support clients in the region,” he added.
Grauer said the Middle East region would begin to see an annual revenue surge of 15-20 per cent from 2010. “Despite the difficulties faced by the financial sector in the economic turmoil, our terminal sales in the region grew by two per vent in the past nine months, when globally we faced a major setback,” he said. By the end of 2008, the number of Bloomberg’s worldwide data and news terminals dropped by 12,000 as banks reduced the number of terminals because of a business slowdown. “However, we are still the number one provider of terminals in terms of revenue because of our one-price policy for everyone while our competitor leads in the number of terminals,” Grauer said.
Despite a 3.4 per cent drop in terminal number, he said the company expected to post growth on increased revenue due to price increases and other non-terminal businesses in 2009. Grauer also hopes to recoup part of the terminal losses by reducing the removals to 7,000 by the end of the year when regional terminal sales is expected to grow three per cent.
Bloomberg had sold 300,000 terminals worldwide before the start of the financial crisis.
In 2008, Bloomberg group generated total revenues of $6 billion.
So does Mayor Bloomberg believe so strongly in “religious freedom” that he blasts the opponents of the mosque with the insulting comments of “UN AMERICAN” for wanting answers to where is the 100 million dollar funding coming from? Or has the Mayor of NYC sold its residents, the 911 families and 70 percent of Americans out because he believes in his own freedom? That would be his own financial freedom?
I believe Mayor Bloomberg has a proverbial “dog in the fight” a definite conflict of interest in the building of a 100 million dollar mosque at Ground Zero.
I believe that the dog in the fight, Bloomberg.com answers some of the questions but I am wondering when someone is going to start asking the dog to speak to Bloomberg.com? Maybe even command the dog to roll over and play dead?
“UN AMERICAN”??? Proof meet the Pudding.
So thanks to Nancy Pelosi. Just google Bloomberg Middle East –it was easy. H/T. Thomas