Business news television channel CNBC has announced that it is making Bahrain its Middle East hub.

The announcement, at the Bahrain International Circuit, Sakhir, means that the channel will create a regional editorial hub in Bahrain to cover the Middle East. The facility is expected to be operational in the second quarter of the year.

The hub will co-ordinate and produce business and financial newsgathering from the Middle East, with a studio and production facility linked to CNBC's global network.

It said CNBC is in the process of recruiting an on-air presenter, reporters and production staff in the region.

CNBC's Eastern Mediterranean and East Africa (EMEA) managing director Mick Buckley said the hub will contribute to CNBC's pan-regional programme Capital Connection, which will become tri-anchored live from London, Bahrain and Singapore, four days a week.

The show's remit will be to help global viewers understand the impact of market movements across European, Asian and Middle Eastern borders - on their portfolios, investment strategies and business decisions.

He said the new Capital Connection will broadcast from London, Bahrain and Singapore from Monday to Thursday, airing between 8am to 9am Bahrain time and on Friday will be co-anchored from London and Singapore.

'The new programme's launch date will be announced in due course,' he said.

Buckley said the new show's global reach is considerable, broadcasting to 65 countries and more than 165 million households on CNBC in Europe, the Middle East and Africa, in Australasia, New Zealand, on CNBC Africa and CNBC World in the US.

He said CNBC's popular half-hour monthly programme, Gateway to the Middle East, will also be produced from Bahrain.

Since 2007 the show has spoken with the leading voices from the region, giving viewers insight into business trends and investment opportunities.

'Bahrain offers the ideal location for CNBC's hub, as the country's infrastructure and location enables us to effectively cover the news from Qatar, Saudi Arabia, the UAE and other major centres in the region,' he said.

'We are now well-positioned, working with CNBC Arabiya, our local-language affiliate channel based in Dubai, to tell the Middle East's business story to regional and global viewers in Arabic and in English,' he said.

Across the EMEA region, CNBC reaches more than 640,000 viewers a day and seven million viewers a month, making it the leading business and financial news channel.

Bahrain's Economic Development Board (EDB) chief executive Shaikh Mohammed bin Essa Al Khalifa welcomed the news saying he was delighted CNBC has chosen Bahrain as its regional hub.

'Our location as the gateway to the Gulf, skilled national workforce, and liberal business environment has attracted many international companies. For a major media organisation to choose us reflects the high priority we place on openness and the steps taken to create an environment conducive to doing business in and from Bahrain.'

He said the EDB has responsibility for formulating and overseeing the economic strategy of Bahrain and creating the right climate to attract foreign investment.

'Bahrain's Economic Vision 2030 and the National Economic Strategy are designed to drive the private sector as an engine of growth, support further diversification of the economy, and ultimately elevate national living standards by creating greater opportunities for Bahrainis.'-TradeArabia News Service