Connect with us

BIZ

Assassin’s Creed maker gets $1.25bn Chinese investment

Published

on

Chinese technology giant Tencent has made a €1.2bn ($1.25bn; £1bn) investment in a spin-off from Ubisoft, the maker of the Assassin’s Creed video games.

Shenzhen-based Tencent will own about a quarter of the new business, with Ubisoft holding the rest of the new subsidiary, which is valued at around €4bn.

The unit will run some of the French firm’s biggest franchises, including Assassin’s Creed, Far Cry and Tom Clancy’s Rainbow Six.

Tencent, which is one of the world’s biggest video games developers, is also known for its internet-based services, including the hugely popular messaging app WeChat.

“Today Ubisoft is opening a new chapter in its history,” Yves Guillemot, Ubisoft’s co-founder and chief executive said in a statement.

Tencent, which is China’s most valuable company, is now Ubisoft’s second biggest shareholder with a stake of just under 10%.

“We are excited to extend our longstanding partnership with Ubisoft through this investment,” Martin Lau, President of Tencent, said.

Ubisoft said it will now focus on its other marquee titles, including Tom Clancy’s Ghost Recon and The Division.

Ubisoft’s stock market value has fallen sharply in recent years after delays to the launches of new games and falling sales.

That’s despite its shares getting a boost earlier this month as investors welcomed the launch of the latest instalment of the Assassin’s Creed franchise.

The much-anticipated Assassin’s Creed Shadows had been delayed several times.

It followed the disappointing performance of another of the firm’s major titles, Star Wars Outlaws, and concerns from some onlookers about how Ubisoft is being run.

“Ubisoft has all these great games, like Assassin’s Creed, that it’s known for that recently haven’t delivered so much for fans,” video games journalist Shannon Liao told the BBC.

“There are reasons for why that business is now up for grabs and for Tencent it’s an opportunity for them to cash in on these franchises that are so beloved, that have so much street cred for gamers out there.”

The Assassin’s Creed series has sold more than 200 million copies worldwide and, according to a Ubisoft earnings report published last year, generated about €4bn revenue in the decade up to 2024.

(BBC News)

BIZ

1st stock of imported coconut milk to undergo clearance, lab testing today

Published

on

By

The first consignment of imported coconut milk under the Government’s raw material importation programme is scheduled to undergo clearance and laboratory testing today (31), as part of a coordinated initiative by the Plantation Industries Ministry.

This initiative, approved by the Cabinet, aims to supply essential raw materials to industries linked to the coconut sector, aiming to reduce domestic coconut prices and support local manufacturers. The consignment currently under clearance includes products equivalent to 200 million coconuts. They are in the forms of frozen coconut milk, coconut milk powder and chunked coconut with testa (non-copra), imported as part of the programme initiated in March 2025. The stock will be used primarily in the coconut milk powder industry, which has been facing raw material shortages. The Plantation Industries Ministry expects this move to reduce the pressure on local coconut supplies and contribute to a drop in retail coconut prices.

(dailynews.lk)

(Except for the headline, this story, originally published by dailynews.lk has not been edited by SLM staff)

Continue Reading

BIZ

BoC employees to strike over unpaid incentives

Published

on

By

Employees of all Bank of Ceylon (BoC) branches have decided to walk out of service at 12.30 pm today (May 29).

The decision has been taken over the current management not taking the initiative to provide them with the 06-month incentive package approved by the Board of Directors, according to the Bank Employees’ Union.

Central Committee member of the Bank Employees’ Union – Najith Wijeratne, stated that they will initiate a token strike if this issue is not resolved by June 06.

BoC employees have also held lunchtime protests yesterday (May 28) in front of 22 branches in major cities islandwide.

Continue Reading

BIZ

Imported salt released to market

Published

on

By

The National Salt Ltd. says that 2,800 MT of salt imported from India have been released to the market.

It says the food-grade salt stock, which arrived on May 23, is being distributed to the market through local salt sales agents for consumer sale.

The Ministry of Industry and Entrepreneurship Development states that Lanka Salt Ltd. is importing 10,000 MT of salt, while over 100 importers, including those from Pettah, are bringing in an additional 100,000 MT.

Continue Reading

Trending

Copyright © 2024 Sri Lanka Mirror. All Rights Reserved