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FINANCIAL NEWS
Thomson Reuters officially owns Dubai-based Zawya
25 Jun 2012
(MENAFN) Top media firm Thomson Reuters officially announced the take over of Dubai-based online finance and business portal Zawya for an undisclosed value, Arabian Business reported.
Arabian Business reported in May that the deal could be worth approximately USD40 million.
Zawya, which was founded in 2000 in London, aggregates content across the MENA region and provides news coverage of the Middle East.
Basil Moftah, managing director for MEA and Russia at Thomson Reuters said that joining forces, Thomson Reuters, Zawya’s clients, and the market will benefit from a unique offering, resulting in an improved and diversified line of services across the MENA markets for a broader group of users.
Zawya, which was launched by British-Iraqi investment banker Ihsan Jawad, was about to be sold for almost USD80 million before the global financial crisis.
Zawya currently attracts 750,000 visitors a month and employs 200 staff in the UAE and Lebanon.
In 2009, Yahoo!, took over Arabic-language internet venture Maktoob.com, the largest portal in the Arab world, for about USD165 million.
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05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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