INVESTORS IN CHINESE tech stocks might feel like characters in an online “party game”, a type of multiplayer activity that became all the rage in 2023. The latest addition to the genre is “DreamStar”, released on December 15th by Tencent, China’s biggest digital giant, with a big gaming business. Players speed around a track as …
WICHITA, Kan. (KWCH) – Can virtual conversations that go with virtual reality games turn into something more? FactFinder spoke with a grandmother who’s sounding an alarm about experiences with the popular games involving her 11-year-old grandson and a stranger who wasn’t who they claimed to be. The technology Kim Warne’s grandson used is a popular …
On September 22, the “Right To Excellence – Tech Summit 2023” was organised by The Times of India in New Delhi. The event was captivating as experts from different industries shared their perspectives on the revolutionary impact of technology. Rajeev Chandrasekhar, the Minister of State for Electronics and Information Technology, delivered the keynote address. One …
E-gaming Federation will challenge an ordinance issued by the Tamil Nadu government to ban online gaming as it categorises rummy and poker as games of chance, the industry body said on Wednesday. E-gaming Federation (EGF), whose members include Games24x7, MPL, and Junglee Games, cited Supreme Court order which, according to the industry body, has settled rummy …
Krafton India, makers of the popular online game BGMI, on Thursday pitched for government support measures to promote the online gaming industry in the country. Krafton India CEO Sean Hyunil Sohn highlighted subsidies given to gaming companies for labour costs by countries like the UAE and Canada and stated that innovative ways can be found …
China has resolved the problem of game addiction among its youth, a report co-written by the country’s top gaming industry association said, in remarks likely to be welcomed by the regulations-battered sector. The comment came from a report by the China Game Industry Group Committee, affiliated with the online game publishing regulator, China Game Industry …
Tax authorities are currently investigating cases of GST evasion amounting to approximately Rs 23,000 crore by gaming companies from April 2019 to November 2022, according to Minister of State for Finance Pankaj Chaudhary. In response to a question in the Lok Sabha, Chaudhary stated that the Enforcement Directorate (ED) has seized proceeds of crime exceeding …
Kavin Bharti Mittal, the founder of Hike, has made the difficult decision to lay off approximately 55 employees, which amounts to more than one-fifth of the company’s workforce. This action was taken in response to the significant impact of the recent GST hike on online gaming. Interestingly, this news comes just a week after Mobile …
The Finance Minister, Nirmala Sitharaman, has provided clarification on the Goods and Services Tax (GST) on online gaming during the GST Council meeting. She stated that taxes will be applicable on the total funds deposited for playing online games, rather than on every bet made. Additionally, she clarified that taxes for online gaming and casinos …
The decision to implement a 28 percent tax on the full face value of bets placed on online games will go into effect on October 1, despite calls for a review from states like Delhi and Goa, according to finance minister Nirmala Sitharaman. She made this announcement on Wednesday after the GST Council discussed the …