Billionaire Saudi media mogul, Prince Alwaleed Bin Talal Bin Abdulaziz’s promised new Arabic-language news channel, Alarab, is to launch by the end of the year.

Based in Bahrain, the all-news channel will directly compete with Al Jazeera, MBC’s Al Arabiya, Sky News Arabia plus dozens of other news outlets not least Nile News out of Cairo.

The prince is a major shareholder in 21st Century Fox, and owns the Rotana movies-to-music suite of channels.

Alarab is based at Bahrain’s World Trade Centre, and has a partnership agreement with Bloomberg and will transmit 5 hours of business-focussed news during the day.

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