Neri Morse, 24, was pronounced dead at the scene following the attack in Ancoats.
Police launched a murder investigation on Wednesday after Mr. Morse was found fatally injured.
Emergency services rushed to the scene on Pollard Street at the junction with Carruthers Street, near Manchester city centre, after reports that two men had been knifed shortly after 6.30 pm. The other man, also in his 20s, was taken to hospital with a stab wound to his leg.
Police arrested a 23-year-old man on suspicion of murder soon after the incident. GMP have now announced a second man has been arrested with both still being questioned on suspicion of murder.
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