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China approves licences for 105 domestic online games in December
Economic Times
·
1y ago
Medial
China's press and publication administration has approved licenses for 105 domestic online games for December, including Tencent's "Counter War: Future" and NetEase's "Firefly Assault." In response to concerns and feedback, Chinese authorities are reportedly considering revisions to newly drafted online gaming rules that aim to limit in-game purchases and prevent obsessive gaming behavior. The rules also emphasize the ban on online game content that poses a threat to national unity, security, reputation, or interests. This development follows China's ongoing crackdown on the gaming sector and big tech companies.
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Related News
China softening stance on gaming after $80 billion rout, approves 105 domestic games
Livemint
·
1y ago
Medial
China has approved 105 domestic games, including those operated by Tencent and NetEase, the country's leading game publishers. This move suggests a softening stance from Beijing after recent industry restrictions led to an $80 billion market rout. The gaming industry association commented that the approvals demonstrate Chinese authorities' support for the development of online gaming. However, there are still concerns among industry players and investors about potential further tech crackdowns following the introduction of new rules to limit online game development.
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Shares of Tencent, NetEase rebound after Chinese regulators vow to improve draft rules
Economic Times
·
1y ago
Medial
Chinese gaming company Tencent Holdings saw its shares rebound 3% on the first day of trading after regulators promised to improve proposed rules. Rival company NetEase also climbed 14% on reports of talks to partner with Blizzard. The Chinese regulator softened its stance on curbing spending and rewards in video games after the stocks in the gaming sector plummeted. The regulator stated it would review public views and approved new licenses for 105 domestic online games, indicating support for the development of online games.
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Peak XV-backed Skillmatics to increase focus on domestic sales amid tailwinds
VCCircle
·
1y ago
Medial
Skillmatics, a direct-to-consumer brand specializing in educational games for children, is planning to prioritize domestic sales in India. The company believes that the Indian market offers significant potential for growth, both in online and offline channels. Previously, Skillmatics generated 80-85% of its revenue from international operations. By shifting focus to the domestic market, the company aims to capitalize on the rising demand for educational products in India.
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India approves $15B in semiconductor plant investments
TechCrunch
·
1y ago
Medial
India has approved a $15.2 billion investment to build three semiconductor plants, including its first semiconductor fab facility, in an effort to compete with China and Taiwan in the chip race. The plants will focus on general-purpose applications rather than AI chips. The first fab facility will be set up by Tata Group and Taiwan's Power Chip in Gujarat. The government has also approved an investment in a semiconductor assembly unit in Assam and a specialized chip facility in Gujarat. These investments aim to boost India's domestic semiconductor sector and generate employment opportunities.
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Zomato stock hits 52-week high, market cap nears $10.7 billion
Economic Times
·
1y ago
Medial
Shares of online food and grocery delivery platform Zomato reached a 52-week high of Rs 105 per share as its market capitalization approaches $10.7 billion. The stock has experienced significant growth over the past six months and was one of the top buys for domestic fund houses in August. Zomato reported a surprise net profit of Rs 2 crore for the June quarter, attributed to strong revenue growth and improved margins. The company expects to remain profitable and deliver 40%+ year-on-year revenue growth for the next couple of years.
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China central bank approves Tencent's Tenpay capital boost to $2.1 billion
Reuters
·
1y ago
Medial
China's central bank has approved Tencent's online payment platform Tenpay to increase its registered capital to 15.3 billion yuan ($2.13 billion). This move makes Tenpay the non-bank payment institution with the highest registered capital in China. Tenpay provides payment licenses and technical support for Tencent's popular payment services WeChat Pay and QQ Wallet. The approval comes after Tencent faced significant fines last year from Chinese authorities for issues related to customer data management.
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Reliance's Viacom18-Disney merger: Govt approves transfer of licence to Star India
YourStory
·
10m ago
Medial
The Indian government has approved the transfer of licences for non-news and current affairs TV channels owned by Reliance Industries to Star India, as per regulatory filings. The approval, subject to conditions by the Competition Commission of India, allows for the merger of the media and entertainment businesses of Reliance Industries and Star India. The merger, valued at over INR 70,000 crore, will create India's largest media empire. Reliance Industries has also committed an investment of nearly INR 11,500 crore to strengthen the joint venture in the face of competition from players like Netflix and Sony.
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Apple CEO Cook says company will increase investment in China: reports
Economic Times
·
9m ago
Medial
Apple CEO Tim Cook has announced that the company will increase its investment in China to contribute to the development of the supply chain. Cook made this statement during a meeting with the Chinese government in Beijing. This is Cook's second trip to China this year as Apple aims to regain market share from domestic rivals. The topics discussed during the meeting included Apple's development in China, online data security, and cloud services. Minister for Industry and Information Technology Jin Zhuanglong expressed his hope that Apple would deepen its presence in China and increase investment in innovation.
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SEBI proposes ways for deregistered offshore funds to dispose of securities
VCCircle
·
1y ago
Medial
India's markets regulator, SEBI, has proposed ways for offshore funds whose licences have expired to dispose of securities they hold. Currently, there is no mechanism in place for offshore funds to liquidate their holdings after their licences expire. SEBI's proposal aims to address this issue and provide a solution for the 55 offshore funds whose India licences have expired, with securities worth INR 33 billion ($397.7 million). Additionally, SEBI has also proposed that offshore funds report any material changes in their structure, ownership, or control within 30 days.
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China's video games market recovers in 2023, domestic sales surpass $42.6 billion
Economic Times
·
1y ago
Medial
According to a report, China's video games market has rebounded in 2023 with domestic sales exceeding $42.6 billion. The recovery is attributed to factors such as increased investment in the gaming industry, the success of popular mobile games, and the growing number of gamers in the country. This growth presents significant opportunities for both domestic and international game developers in the Chinese market.
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