Tencent Financial News

Sea Ltd. is bringing back one of its top mobile games in India a year and a half after it was banned, a boon for the internet company’s effort to revive its growth. Now called Free Fire India, the game will be available Sept.

Microsoft has submitted a new proposal to Britain's competition regulator for the acquisition of video gaming giant Activision Blizzard, the watchdog said Tuesday, after a previous version of the deal was blocked. Xbox-owner Microsoft launched a bid for Activision Blizzard early last year, seeking to establish the world's third biggest gaming firm by revenue after China's Tencent and Japan's PlayStation maker Sony. But the $69 billion deal for the purchase of the owner of game titles including Call of Duty, World of Warcraft and Candy Crush has faced significant scrutiny by regulators. Britain's Competition and Markets Authority (CMA) said it has «opened a new phase 1 investigation into a new, restructured deal by Microsoft to buy Activision». It added that the new deal follows confirmation by the regulator that «the original deal would be blocked to protect innovation and choice in cloud gaming». Under the new proposed deal «Microsoft will not acquire cloud rights for existing Activision PC and console games, or for new games released by Activision during the next 15 years (this excludes the European Economic Area),» the CMA said. Instead these rights will be divested to French game developer Ubisoft Entertainment prior to Microsoft's acquisition of Activision, according to the CMA. Ubisoft will in particular have «the ability to supply Activision's gaming content to all cloud gaming service providers (including to Microsoft itself)». «This will allow gamers to access Activision's games in different ways, including through cloud-based multigame subscription services,» Sarah Cardell, the CMA chief executive, said. — Confidence — Cardell added that «this is not a green light». «Our goal has not changed — any future

BEIJING — Corporate earnings releases are picking up on a few bright spots for China's consumer in a competitive market where people are less willing to open their wallets.

technology companies in 2021 and 2022 decimated valuations of companies such as Alibaba and Tencent. Throw into this mix a host of poor policy decisions (in real estate for instance) and Xi’s desire to grab. The result is that China is increasingly becoming a pariah for global businesses and investors alike.

Tencent Holdings posted a smaller-than-expected 11% rise in second-quarter revenue on Wednesday, as the country's sputtering economic recovery weighed on the social media and gaming giant's recovery from last year's record downturn. The world's largest video game company and operator of the WeChat messaging platform said revenue reached 149.20 billion yuan ($20.45 billion) for the three months ended June 30.

Investing.com — U.S. futures fell Tuesday, ahead of the release of key retail sales data, while weak Chinese economic data raised concerns about slowing global growth.

China's Tencent Music Entertainment Group said on Tuesday second-quarter revenue rose 5.5% from a year ago, driven by growth in paying users on its Spotify-like music streaming platform and a recovery in the advertising market. Total revenue of the company, controlled by Chinese tech giant Tencent Holdings Ltd, stood at 7.29 billion yuan ($1.00 billion) in the quarter ended June 30, in line with Wall Street estimates, according to Refinitiv data.

PB Fintech Ltd, backed by Info Edge and Japan’s SoftBank, got listed on the stock exchanges. Masayoshi Son’s SoftBank holds 4.39%, China’s Tencent 6.28% and Info Edge holds 17.5% in PB Fintech, while Claymore Investments (Mauritius) Pte. Ltd, a subsidiary of Singapore’s Temasek Holdings, own 5.43%.

While India has not said the new requirement is aimed at China, more than half of its roughly $10 billion in annual imports of personal computers and tablets are Chinese-made. Relations between the countries have deteriorated since mid-2020, when Chinese and Indian troops clashed on LAC and 24 people were killed. Several Indian government officials, who asked not to be named, said the licensing measure aimed to address a trade imbalance with China. Here are some other Chinese trade and investment ventures affected by Indian measures since 2020:

From China's Ant Group to Sweden's Klarna, here is the complete list of the world's top 200 fintech companies.

WeChat on government devices. Tuesday's report contains 17 recommendations including new transparency rules enforceable by fines, expanding an existing TikTok ban on government devices to contractors and investigating a ban on WeChat on government devices.

Chinese leader Xi Jinping’s government is promising to drag the economy out of a crisis of confidence aggravated by tensions with Washington, wilting exports, job losses and anxiety among foreign companies about an expanded anti-spying law

The Reserve Bank should urgently be handed more powers to curtail the growing influence of technology companies in finance, Commonwealth Bank has urged in its submission to a Treasury review of payments.

The idea was akin to that of an "everything app" espoused recently by Elon Musk, the owner of Twitter. But the dream belonged to Mark Zuckerberg, the founder and CEO of Meta, which owns Facebook, Instagram and WhatsApp. In a 2019 blog post, Zuckerberg outlined how he would turn WhatsApp into an app that could be a platform for many «kinds of private services.» In Silicon Valley, the pursuit of an everything app has come up time and again as tech leaders have strained to expand their digital empires.

Elon Musk's takeover of Twitter, the social media platform has undergone a major transformation, replacing its iconic blue bird logo with a striking white 'X' as its new official logo. The announcement was made by Mr. Musk himself, who tweeted, «X dot com now points to Twitter dot com.

China's video game player has grown to a record of 668 million, a government-run game industry association said on Thursday, as the world's biggest gaming market returns to growth after a bruising crackdown. The number of gamers, which is accurate as of end-June, represents about half of the population. Industry association CGIGC, which announced the data at an industry conference in Shanghai, also said sales revenue of the domestic gaming market reached 144.263 billion yuan ($20.23 billion) for the first half of this year.

Elon Musk on Monday explained his decision to strip Twitter of its famous blue-bird logo as a move to remake the business into a broad platform for communications and financial transactions, a target he’s described as the everything app. “This is not simply a company renaming itself, but doing the same thing,” Musk said about the apparently spontaneous move over the weekend to crowdsource a logo from fans and adopt it as Twitter’s new insignia.

₹1,000 crore, before foraying into the video streaming space. It was relaunched as an ad-supported video streaming application. The firm raised around $111 million in a funding round led by Chinese Internet giant Tencent in 2019, has not been able to generate enough cash for a while to fund its expansion.

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digital currency (CBDC). Cardholders did not have accounts with the bank. Instead their monetary value was tracked by chips physically inserted into them.