Tencent to Release ‘Dungeon and Fighter’ Mobile Game in May 

A Tencent sign is seen at the World Internet Conference (WIC) in Wuzhen, Zhejiang province, China, October 20, 2019. (Reuters)
A Tencent sign is seen at the World Internet Conference (WIC) in Wuzhen, Zhejiang province, China, October 20, 2019. (Reuters)
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Tencent to Release ‘Dungeon and Fighter’ Mobile Game in May 

A Tencent sign is seen at the World Internet Conference (WIC) in Wuzhen, Zhejiang province, China, October 20, 2019. (Reuters)
A Tencent sign is seen at the World Internet Conference (WIC) in Wuzhen, Zhejiang province, China, October 20, 2019. (Reuters)

Chinese tech giant Tencent Holdings said on Monday it will release its much-anticipated "Dungeon and Fighter" mobile game on May 21 after seven years of development.

Officially named "Dungeon and Fighter: Origin", the action game, developed by Korean firm Nexon, is a mobile adaptation of the "Dungeon and Fighter" computer game, one of the world's most profitable computer games.

Tencent's shares rose about 4.5% on Monday morning.

The game was already released in South Korea in 2022 and became an instant hit. But its China release was delayed after the government cracked down on the gaming industry between 2018 and 2022.

In a February note, investment bank Jefferies expected the game to "secure a top 5 spot in revenue rankings" in China and to potentially generate between $600 million to $1.1 billion in annualized revenues there over time. But the bank expects a "cautious approach to engagement and monetization" during its initial launch.

Last month, Tencent conducted a closed test with 300,000 players and had delivered strong results. In a note this month, HSBC wrote: "Testing for DnFm yielded solid performance in metrics like [daily active users], retention rate and user's paying propensity."



Saudi Ministry of Media Signs MoU with Microsoft Arabia on Artificial Intelligence in Media

The Saudi Ministry of Media and Microsoft Arabia signed in Riyadh on Tuesday a memorandum of understanding (MoU) to cooperate in several fields, including artificial intelligence. (SPA)
The Saudi Ministry of Media and Microsoft Arabia signed in Riyadh on Tuesday a memorandum of understanding (MoU) to cooperate in several fields, including artificial intelligence. (SPA)
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Saudi Ministry of Media Signs MoU with Microsoft Arabia on Artificial Intelligence in Media

The Saudi Ministry of Media and Microsoft Arabia signed in Riyadh on Tuesday a memorandum of understanding (MoU) to cooperate in several fields, including artificial intelligence. (SPA)
The Saudi Ministry of Media and Microsoft Arabia signed in Riyadh on Tuesday a memorandum of understanding (MoU) to cooperate in several fields, including artificial intelligence. (SPA)

The Saudi Ministry of Media and Microsoft Arabia signed in Riyadh on Tuesday a memorandum of understanding (MoU) to cooperate in several fields, including artificial intelligence.

The areas of cooperation also include developing technical aspects in data analysis, machine learning, security and privacy solutions, and software and service development solutions to improve the quality of local media content and keep pace with global developments to serve the Ministry’s future goals.

The signing ceremony was attended by Assistant Minister of Media Dr. Abdullah bin Ahmed Al-Maghlooth and Microsoft's Executive Vice President of Data and Artificial Intelligence Ziad Mansour.

The Ministry of Media was represented by General Manager of Digital Transformation and Information Technology and General Manager of Cybersecurity Eng. Bassem Al-Hazmi and Microsoft Arabia President Turki Badhris represented the company.

The memorandum aims to boost the media sector in Saudi Arabia, enabling it to contribute to the local economy and benefit from the advancements of artificial intelligence and its various applications in media.