Global media group News Corp. has increased its stake in Rotana Group by acquiring newly-issued shares in the company. The acquisition was announced after a Rotana board meeting, chaired by Prince Alwaleed Bin Talal, chairman of Rotana Holding. News Corp will pay $35 million for the shares, which will take its stake in Rotana to 18.97%. News Corp had previously owned 14.53%.

A social networking website called Arabianomics.com has been launched for the GCC region’s professional workforce. The website was launched to provide a medium for networking and discussion, as well as to enhance the communications capabilities of business professionals in the GCC countries.