Business news a growth industry overseas
Heather Timmons writes in Monday’s International Herald Tribune about how business news publications are springing up in developing countries as their economies expand.
Timmons writes, “A jump in income in many emerging markets often corresponds with an increased desire for business news, as consumers become investors in local or international markets. Meanwhile, an increasingly global financial system means that experienced investors are active in once far-away corners.
“‘We do see a big potential in emerging markets,’ said John Ridding, chief executive of the Financial Times, which is based in London. ‘There is strong and growing demand from these markets for strong industry and business analysis.’
“In April, the Financial Times started a Middle East edition from Abu Dhabi with expanded local coverage, and Ridding said he hoped it would increase the paper’s circulation ‘substantially’ from the several thousand readers it has in the area. In India, the Financial Times sees ‘big opportunities for expansion’ and is working on an ‘exciting project,’ about which he would not elaborate. Several people in India who did not want to be named said the Financial Times was in advanced talks with the Indian media conglomerate Network18 to produce a new daily business paper.
“In China, the Financial Times is about to start a monthly Chinese language magazine called RUI, which in Mandarin Chinese means ‘intelligence.’ The magazine, aimed at the upper-middle-class Chinese consumer, will carry a mix of lifestyle and money-management articles.”
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