It will be the US company’s third news centre in the UK after London and Edinburgh and a major sign of the improving business conditions in Northern Ireland.

“The addition of a Belfast news bureau reflects Bloomberg’s commitment to provide the most thorough real-time news and data to our customers around the world,” said Reto Gregori of Bloomberg.

“With bureaux in London, Edinburgh, Belfast and Dublin, Bloomberg is exceptionally well positioned to cover this region and to report on the recovery of the Northern Irish economy after decades of upheaval.”

The Belfast bureau is the 18th news office the company has opened across Europe, Africa and the Middle East in the past five years and brings its total to 135 worldwide.

Chris Collins, Bloomberg’s managing editor in Europe, said its local-market presence gave it a quality of reporting that was unequalled.

“Bloomberg’s growing customer base in the UK, Ireland and overseas demands that we cover all facets of the economic story even as many other news organisations reduce their coverage of various regions, including Northern Ireland and Belfast,” he said.

Also yesterday, the Northern Ireland division of North America’s largest publicly-held personal lines insurer unveiled its new corporate identity.

Northbrook Technology, which celebrates its 10th anniversary this year, will now be known as as Allstate Northern Ireland. The company remains a subsidiary of giant insurer Allstate Corporation, headquartered in Illinois.

The company said the new branding would reinforce Allstate’s commitment to Northern Ireland and firmly establish it as an integral part of Allstate’s global operations.

Since it was established in Belfast in 1998, Allstate Northern Ireland has provided high quality software development services in support of its US parent’s global operations.

Its sites in Belfast, Londonderry and Strabane, which employ almost 1,500 people, undertake a variety of critical testing, technical support and business process activities for Allstate.

Over the last decade the company has expanded its operations in Northern Ireland four times, representing an investment of £80 million. The company has received financial backing from Invest NI totalling £15.9 million towards these investments.

At the rebranding ceremony in Belfast, Economy Minister Nigel Dodds commended the company’s contribution to the local economy and recognised their commitment to Northern Ireland.

“This success has been driven by the company’s talented and highly-motivated team and their commitment to maintaining Allstate’s competitive position in the international financial services market,” he said.