Robyn Mak
3 minute read
A cosplayer wears a self-made helmet of a character from the computer game PlayerUnknown s Battlegrounds, a survival-shooter game of South Korean game developer Bluehole Studio Inc., while testing Ubisoft Montreal s Tom Clancy s Rainbow Six Siege, at Gamescom in Cologne, Germany August 23, 2017. REUTERS/Wolfgang Rattay
HONG KONG, July 9 (Reuters Breakingviews) - Krafton (259960.KS) is walking a fine line between being shrewd or too clever by half with its China game. The South Korean video-games developer wants to go public at a $21 billion valuation, buoyed by the popularity of its PlayerUnknown Battlegrounds franchise. Geopolitical tension between Seoul and Beijing has hampered access to its biggest market by sales. Krafton and top backer Tencent (0700.HK) have devised a workaround, but too much depends on it.
Xpeng has second shot at first-mover advantage
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Volkswagen s Tesla race hits wrong gear in China
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Australian mining magnate Andrew Forrest is taking his newfound zeal for renewable energy to the Democratic Republic of Congo. The founder and chairman of A$70 billion ($54 billion) Fortescue Metals (FMG.AX) has persuaded President Felix Tshisekedi to let his company lead development of hydroelectric power stations to generate as much as 40 gigawatts, or more than double China’s Three Gorges complex. It’s part of his fledgling drive to turn fossil-fuel-free hydrogen into a $12 trillion global market by 2050. This African plan, however, borders on green megalomania.