Bloomberg corrects inaccurate social media posts about Egyptian economy after SIS intervention

Ahram Online , Tuesday 30 Apr 2024

Egypt's State Information Service (SIS) said on Tuesday that Bloomberg had corrected an inaccurate post on social media concerning the Egyptian economy.

Head of State Information Service (SIS) Diaa Rashwan


According to the SIS, Bloomberg corrected the post on its Facebook page, acknowledging their failure to meet journalistic standards following objections by the SIS.

Diaa Rashwan, head of the SIS, emphasized that the post was distorted and an inaccurate depiction of Bloomberg's original reporting on its website.

He noted that the SIS is responsible for monitoring international media coverage of Egypt's internal affairs and foreign policy.

The SIS chief said they urged Bloomberg officials to adhere to professional standards and journalism ethics.

Additionally, the SIS called for appropriate actions to be taken against those responsible for spreading misinformation, and to ensure that such an occurrence is not repeated.

On Saturday, Bloomberg published a report on its website titled "UAE’s $35 Billion Egypt Deal Marks Gulf Powers' Buying Spree," where it discussed the completed and potential investment deals, reflecting Egypt's efforts to encourage private sector participation in the economy.

Originally, the Bloomberg post on Facebook linking to the story read: "Gulf Powers are snapping up prime Egypt property. The UAE's $35 billion land deal is only the largest; Saudi Arabia has interest, too."

After the correction, the post was changed to: “Gulf powers are looking at prime Egypt property. The UAE's $35 billion land deal is only the latest; Saudi Arabia has interest, too.”

The SIS urged international media to uphold accuracy and adhere to professional standards and journalism ethics, particularly in reporting on the Egyptian economy.

Misleading and inaccurate news could significantly impact investment, trade, and tourism in Egypt, the SIS noted.

Furthermore, the SIS called on the international media correspondents operating in Egypt to prioritize credible sources and official data when reporting on Egyptian issues and events.

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