Just how big is the Esports scene in Asia?

Esports has seen a big rise in popularity in recent years. The pandemic has been one reason why this has happened. However, esports was already incredibly popular in Asia and the numbers watching and playing the sport is expected to grow even more in that part of the world.

It’s anticipated that by 2025, there will be over one billion esports players and spectators. The global esports industry is expected to rise to $3.5 billion and considerable growth is predicted to continue in Asia with at least half of the one billion players coming from that continent.

One major target for esports is to become a fully-fledged Olympic sport. It has been a demonstration sport in the past and is likely to be again in Paris in 2024. However, the Asian Games have already taken the step to include esports as a medal event. That was the case at the Southeast Asian Games held three years ago.

This year it’s likely that esports players will be battling it out for esports medals at the Asian Games in Hangzhou. The growth in esports just keeps continuing in Asia with new arenas constantly opening and able to hold tens of thousands of people. If you are looking to find out more information about esports news, the teams and upcoming events, then head to fragster.com.

A survey carried out by GMO Research showed just how popular esports has become in Asia. It interviewed people in Vietnam, China, Taiwan, the Philippines, Malaysia, and Thailand. Esports proved to be popular in all those countries, especially in Vietnam. Around 75% of those asked replied that they had either played or watched esports.

64.4% of Chinese respondents had esports experience followed closely by those from Thailand ad th Philippines. Only in Malaysia and Taiwan was the figure below 50% but that is likely to change in the coming years.

Using YouTube Gaming to watch esports is extremely popular with Facebook Gaming and Twitch also seeing lots of esports viewers. In China, where of course there is the largest gaming audience in the world, Douyu TV and Huya are dominating the market with huge esports events being held.

With improved mobile phone technology and IT infrastructure, the future looks incredibly bright for esports in Asia. In 2020, China and Japan were among the top five gaming markets with $44.2 billion and $20.6 billion in revenue. With just over half of the world’s online population coming from Asia, it’s not too surprising that esports is enjoying such success.

Many of the top esports players come from Asia with great results being achieved in games such as League of Legends. Between 2011 and 2020, nine of the ten champions were from Asia. 2020 saw teams from South Korea and China winning around $26 million in prize money.

Vietnamese esports fans love playing games such as Arena of Valor. South Koreans are big fans of Clash of Clans but that looks like being overtaken by League of Legends. Those in Hong Kong can be seen regularly playing Wild Rift.

With such a potential audience in Asia, it’s no surprise that top gaming companies are opening offices in Asia. This includes Riot Games who both develop and publish games. They are due to expand their publishing reach In both Japan and India this year.

Another big deal has seen Talon Esports (who are based in Hong Kong) extend their partnership with KFC who will be their naming rights partner. The more popular esports becomes, the big-name companies will be looking to get included in some way.

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World

Russian Arms Dealer Viktor Bout Back in Business After Biden Prisoner Exchange

Viktor Bout, a notorious Russian arms dealer, arriving at court in Bangkok in 2010 - CTN Image

Viktor Bout, the infamous Russian arms dealer who was exchanged two years ago for Brittney Griner by President Biden, has reportedly returned to arms trading, as detailed in a report by the Wall Street Journal.

The Wall Street Journal has revealed that Vikto Bout, infamously dubbed the “merchant of death,” is seeking to facilitate the sale of small arms to the Houthis. A report indicates that Houthi representatives met with Bout in Moscow in August to discuss the acquisition of $10 million in automatic weapons.

Nonetheless, the anticipated arms deal remains unfulfilled, as indicated by the report.

Reports indicate that the weapons being discussed do not encompass larger systems such as anti-ship or anti-air missiles, which could represent a considerable risk to U.S. military operations in the area.

Requests for comment from the WSJ regarding Bout’s alleged involvement in the arms trade went unanswered by the Kremlin and Russia’s Ministry of Defense. Steve Zissou, an attorney who provided legal representation for Bout during his time in U.S. custody, refrained from commenting on the possibility of Bout’s meetings with the Houthis.

Viktor Bout, the notorious Russian arms dealer was exchanged for Brittney Griner – CNN Image

Viktor Bout released in 2022

Bout, who became affiliated with Russia’s Kremlin-loyal Liberal Democratic Party following his release in a prisoner swap in December 2022, has kept a low profile since his return.

Bout was taken into custody in Thailand in 2008 and subsequently extradited to the United States, where he faced conviction in 2012 on charges associated with arms trafficking, resulting in a 25-year prison sentence.

For almost twenty years, Bout stood out as one of the globe’s most notorious arms dealers, providing weaponry to unrecognized governments and insurgent factions throughout Africa, Asia, and South America. The activities he conducted served as the basis for the 2005 film Lord of War.

Even after his conviction and imprisonment, reports indicate that Bout’s network persisted in its operations, contributing to conflicts in some of the globe’s most perilous areas.

Former US Marine Paul Whelan Released From Russian Prison

Former US Marine Paul Whelan Released From Russian Prison

Business

PepsiCo Reduces Revenue Projections As North American Snacks And Key International Markets Underperform.

(VOR News) – In the third quarter of this year, Pepsi’s net income was $2.93 billion, which is equivalent to $2.13 per share. This was attributed to the company.

This is in stark contrast to net income of $3.09 billion, which is equivalent to $2.24 per share, during the same period in the previous year. The company’s earnings per share were $2.31 when expenses were excluded.

Net sales decreased by 0.6%, totaling $23.32 billion. Organic sales increased by 1.3% during the quarter when the effects of acquisitions, divestitures, and currency changes are excluded.

Pepsi’s beverage sales fell this quarter.

The most recent report indicates that the beverage and food sectors of the organization experienced a 2% decline in volume. Consumers of all income levels are demonstrating a change in their purchasing habits, as indicated by CEOs’ statements from the previous quarter.

Pepsi’s entire volume was adversely affected by the lackluster demand they encountered in North America. An increasing number of Americans are becoming more frugal, reducing the number of snacks they ingest, and reducing the number of times they purchase at convenience stores.

Furthermore, Laguarta observed that the increase in sales was partially attributed to the election that occurred in Mexico during the month of June.

The most significant decrease in volume was experienced by Quaker Foods North America, which was 13%. In December, the company announced its initial recall in response to a potential salmonella infection.

Due to the probability of an illness, the recall was extended in January. Pepsi officially closed a plant that was implicated in the recalls in June, despite the fact that manufacturing had already been halted.

Jamie Caulfield, the Chief Financial Officer of Pepsi and Laguarta, has indicated that the recalls are beginning to have a lessening effect.

Frito-Lay experienced a 1.5% decline in volume in North America. The company has been striving to improve the value it offers to consumers and the accessibility of its snack line, which includes SunChips, Cheetos, and Stacy’s pita chips, in the retail establishments where it is sold.

Despite the fact that the category as a whole has slowed down in comparison to the results of previous years, the level of activity within the division is progressively increasing.

Pepsi executives issued a statement in which they stated that “Salty and savory snacks have underperformed year-to-date after outperforming packaged food categories in previous years.”

Pepsi will spend more on Doritos and Tostitos in the fall and winter before football season.

The company is currently promoting incentive packets for Tostitos and Ruffles, which contain twenty percent more chips than the standard package.

Pepsi is expanding its product line in order to more effectively target individuals who are health-conscious. The business announced its intention to acquire Siete Foods for a total of $1.2 billion approximately one week ago. The restaurant serves Mexican-American cuisine, which is typically modified to meet the dietary needs of a diverse clientele.

The beverage segment of Pepsi in North America experienced a three percent decrease in volume. Despite the fact that the demand for energy drinks, such as Pepsi’s Rockstar, has decreased as a result of consumers visiting convenience stores, the sales of well-known brands such as Gatorade and Pepsi have seen an increase throughout the quarter.

Laguarta expressed his opinion to the analysts during the company’s conference call, asserting, “I am of the opinion that it is a component of the economic cycle that we are currently experiencing, and that it will reverse itself in the future, once consumers feel better.”

Additionally, it has been noted that the food and beverage markets of South Asia, the Middle East, Latin America, and Africa have experienced a decline in sales volume. The company cut its forecast for organic revenue for the entire year on Tuesday due to the business’s second consecutive quarter of lower-than-anticipated sales.

The company’s performance during the quarter was adversely affected by the Quaker Foods North America recalls, the decrease in demand in the United States, and the interruptions that occurred in specific international markets, as per the statements made by Chief Executive Officer Ramon Laguarta.

Pepsi has revised its forecast for organic sales in 2024, shifting from a 4% growth rate to a low single-digit growth rate. The company reiterated its expectation that the core constant currency profitability per share will increase by a minimum of 8% in comparison to the previous year.

The company’s shares declined by less than one percent during premarket trading. The following discrepancies between the company’s report and the projections of Wall Street were identified by LSEG in a survey of analysts:

SOURCE: CNBC

Business

Old National Bank And Infosys Broaden Their Strategic Partnership.

(VOR News) – Old National Bank, a commercial bank with its headquarters in the Midwest, and Infosys, a firm that specializes in information technology, have recently entered into a strategic expansion of their link, which has been in place for the past four years.

This expansion is more likely to take place sooner rather than later, with the likelihood being higher.

For the purpose of making it possible for Old National Bank to make use of the services, solutions, and platforms that are offered by Infosys, the objective of this expansion is to make it possible for the bank to transform its operations and processes through the application of automation and GenAI, as well as to change significant business areas.

This lets the bank leverage Infosys’ services, solutions, and platforms.

Old National Bank Chairman and CEO Jim Ryan said, “At Old National, we are committed to creating exceptional experiences for both our customers and our fellow employees.”

This statement is applicable to Old National Bank. Infosys is carefully managing the business process innovations that it is putting us through, putting a strong emphasis on efficiency and value growth throughout the process to ensure that it is carried out efficiently.

This is a routine occurrence throughout the entire operation. Because of Infosys’ dedication to our development and success, we are incredibly appreciative of the assistance they have provided.

Old National has been receiving assistance from Infosys in the process of updating its digital environment since the year 2020, according to the aforementioned company.

Ever since that time, the company has been providing assistance. The provision of this assistance has been accomplished through the utilization of a model that is not only powerful but also capable of functioning on its own power.

Infosys currently ranks Old National thirty-first out of the top thirty US banks.

This ranking is based on the fact that Old National is the nation’s largest banking corporation.

It is estimated that the total value of the company’s assets is approximately fifty-three billion dollars, while the assets that are currently being managed by the organization are valued at thirty billion dollars.

Dennis Gada, the Executive Vice President and Global Head of Banking and Financial Services, stated that “Old National Bank and Infosys possess a robust cultural and strategic alignment in the development, management, and enhancement of enterprise-scale solutions to transform the bank’s operations and facilitate growth.”

This remark referenced the exceptional cultural and strategic synergy between the two organizations. Dennis Gada is the one who asserted this claim. This was articulated explicitly concerning the exceptional cultural congruence and strategy alignment of the two organizations.

We are pleased to announce that the implementation of Infosys Topaz will substantially expedite the transformation of Old National Bank’s business processes and customer service protocols. We are exceedingly enthusiastic about this matter. We are quite thrilled about this specific component of the scenario.

Medium-sized banks operating regionally will continue to benefit from our substantial expertise in the sector, technology, and operations. This specific market segment of Infosys will persist in benefiting from our extensive experience. This phenomenon will enable this market sector to sustain substantial growth and efficiency benefits.

SOURCE: THBL