Latest news with #Bifrost
Engadget
3 days ago
- Entertainment
- Engadget
People Can Fly cancels two games and lays off developers
People Can Fly, the developer of Outriders and Gears of War: Judgement , announced Monday that its ending development on two of its upcoming games due to issues with its publisher and an inability to secure funding to continue development. As part of this decision, People Can Fly will be forced "significantly regroup" and "scale down [its] teams," the studio's CEO Sebastian Wojciechowksi shared in a statement on LinkedIn. The statement doesn't elaborate on how many staff will be impacted by the cuts, but does call out Project Gemini and Project Bifrost as the two games being cancelled. People Can Fly made the decision to shut down Gemini because the game's publisher failed to provide a publishing agreement and didn't communicate "its willingness to continue or terminate the Gemini project." Without that publishing deal or the funds to continue working on Bifrost — a self-published VR game — the studio was forced to cancel it, too. This isn't the first time People Can Fly has shut down a project or made cuts to its teams. In December 2024, the studio announced that it was ending development on a game called Project Victoria and also reducing the number of people working on Bifrost. In that same announcement, People Can Fly also revealed that Square Enix was publishing Gemini. People Can Fly last worked with Square Enix to publish Outriders, somewhat of a minor cult hit now, but not a commercial success at launch. Even with the cuts and cancelled games, the studio still has multiple upcoming projects in the works, including Project Delta, which People Can Fly is creating for Sony and Gears of War: E-Day , which the studio is co-developing with Xbox studio The Coalition.
The Verge
4 days ago
- Business
- The Verge
People Can Fly cancels two projects and will lay off workers
People Can Fly has announced it has cancelled two in-development projects and will undergo a round of layoffs. 'Today we made the very difficult decision to suspend the development of project Gemini and project Bifrost,' wrote People Can Fly CEO Sebastian Wojciechowski on the studio's LinkedIn page. 'As a result we have to significantly regroup as a studio and scale down our teams.' Little was known publicly about either project. The Warsaw-based studio known for Bulletstorm and Outriders has been having difficulties with some of its in-development projects for a while now. In December, a notice from the company stated it would suspend production on a project codenamed Victoria and reduce the team working on Bifrost. In today's announcement, Wojciechowski wrote that cancellations were due to an unspecified publisher's failure to present necessary publishing agreements, and a 'lack of communication' regarding whether or not the publisher wants to continue with development. The statement also attributed the cancellations to issues with the publisher's cash flow stating it, 'showed a lack of prospects for securing organizational resources and funds necessary to continue the production.' And the name of the publisher? It isn't exactly a mystery. In the developer's statement from December, People Can Fly named its collaborator on Project Gemini as Square Can Fly — which was acquired by Epic Games in 2012 before going independent again in 2015 — will continue development on Xbox's next Gears of War title, Gears of War: E-Day, as a partner studio working with The Coalition.
Straits Times
24-04-2025
- Business
- Straits Times
Keppel Q1 profit up over 25%; expects limited direct impact from US tariffs
Chief executive Loh Chin Hua said US tariffs will have a limited direct impact on Keppel, though a trade war could affect the group indirectly. PHOTO: KEPPEL Keppel Q1 profit up over 25%; expects limited direct impact from US tariffs SINGAPORE - Keppel reported on April 24 a strong performance in the first quarter of 2025, with net profit up more than 25 per cent year on year. The results exclude legacy offshore and marine assets such as shares of Seatrium and legacy rigs that the company divested in 2024. Including these assets, profit would more than double due to reduced losses from the legacy portfolio, Keppel said. Looking ahead at the impact from US tariffs, Keppel was cautiously optimistic. Its chief executive Loh Chin Hua said: 'The direct impact of the US tariffs on Keppel is expected to be limited, as Keppel is not engaged in the manufacturing or export sectors.' 'However, a trade war would be highly detrimental to the international economy, and could affect us indirectly through higher supply chain costs, reduced market confidence, exchange rate risks and the pace of asset monetisation,' he cautioned. Still, the company's stronger recurring income would enhance its ability to navigate volatility, Mr Loh said. He also noted that the company is involved in meeting demand for alternative real assets that are supported by macrotrends, including energy transition, digitalisation and artificial intelligence. For the first quarter, recurring income accounted for over 80 per cent of net profit. It was driven by stable results in the infrastructure segment, improved contributions from real estate and stronger asset management returns, the company said. Keppel also reported asset monetisations of $347 million to date in 2025, mostly from divestments of real estate assets in China and Vietnam. The company said it is also in advanced negotiations for an additional $550 million in divestments to be finalised in upcoming months. Asset management fees increased by 9 per cent year-on-year to $96 million, the company reported, rising from $88 million in Q1 of 2024. It raised $1.6 billion in equity during the quarter – 3.5 times higher than the same period last year – and secured $2 billion in capital commitments for new private funds, representing about $4.9 billion in projected funds under management. In its infrastructure segment, the company reported steady earnings, including growth in long-term contract revenue by 31 per cent year-on-year, reaching $6.3 billion. It also reported commissioning readiness in its Sakra Cogen Plant and that it had seeded a 36 per cent stake of its Merlimau Cogen Plant to Keppel Core Infrastructure Fund. In its connectivity business segment, Keppel reported progress on the Bifrost subsea cable, reaching 92 per cent completion as of March. The cable system is expected to be operational in H2 2025. The company also expects the joint investment in subsea cable solutions provider Global Marine Group by Keppel Infrastructure Trust to enhance its connectivity business. Keppel shares surged 3.6 per cent, or 23 cents, to $6.63 as at 10.51am on April 24, after its business update. THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
24-04-2025
- Business
- Business Times
Keppel reports stronger net profits in Q1; expects limited direct tariff impact
[SINGAPORE] Keppel reported on Thursday (Apr 24) a strong Q1 performance for 2025, with net profit rising more than 25 per cent year-on-year. These profits, compared to Q1 in 2024, exclude legacy offshore and marine assets such as shares of Seatrium and legacy rigs that the company divested in 2024. Including these assets, profit would more than double due to reduced losses from the legacy portfolio. Recurring income accounted for over 80 per cent of net profit in the quarter. It was driven by stable results in the infrastructure segment, improved contributions from real estate and stronger asset management returns, the company said. Keppel also reported asset monetisations of S$347 million to date in 2025, mostly from divestments of real estate assets in China and Vietnam. The company said it is also in advanced negotiations for an additional S$550 million in divestments to be finalised in upcoming months. Asset management fees increased by 9 per cent year-on-year to S$96 million, the company reported, rising from S$88 million in Q1 of 2024. It raised S$1.6 billion in equity during the quarter – 3.5 times higher than the same period last year – and secured S$2 billion in capital commitments for new private funds, representing about S$4.9 billion in projected funds under management. In its infrastructure segment, the company reported steady earnings, including growth in long-term contract revenue by 31 per cent year-on-year, reaching S$6.3 billion. It also reported commissioning readiness in its Sakra Cogen Plant and that it had seeded a 36 per cent stake of its Merlimau Cogen Plant to Keppel Core Infrastructure Fund. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up In its connectivity business segment, Keppel reported progress on the Bifrost subsea cable, reaching 92 per cent completion as of March. The cable system is expected to be operational in H2 2025. The company also expects the joint investment in subsea cable solutions provider Global Marine Group by Keppel Infrastructure Trust to enhance its connectivity business. Facing tariff volatility, the company remained cautiously optimistic. Loh Chin Hua, Keppel's chief executive said: 'The direct impact of the US tariffs on Keppel is expected to be limited, as Keppel is not engaged in the manufacturing or export sectors.' 'However, a trade war would be highly detrimental to the international economy, and could affect us indirectly through higher supply chain costs, reduced market confidence, exchange rate risks and the pace of asset monetisation,' he cautioned. Still, the company's stronger recurring income would enhance its ability to navigate volatility, Loh said. He also noted that the company is involved in meeting demand for alternative real assets that are supported by macrotrends, including energy transition, digitalisation and artificial intelligence. Shares of Keppel were trading S$0.14 higher or 2.2 per cent to S$6.54 on Thursday at 10 am.
Globe and Mail
09-04-2025
- Business
- Globe and Mail
Indonesia Data Center Market Investment to Reach $3.79 Billion by 2030
"Indonesia Data Center Market Research Report by Arizton" According to Arizton's latest research report, Indonesia data center market is growing at a CAGR of 7.99% during 2024-2030. Report Summary Market Size - Investment (2030): $3.79 Billion Market Size – Area (2030): 570 Thousand Sq. ft. Market Size – Power Capacity (2030): 119 MW CAGR – Investment (2024-2030): 7.99% Colocation Market Size (2030): $1.15 Billion Historic Year: 2021-2023 Base Year: 2024 Forecast Year: 2025-2030 Indonesia Emerging Data Center Market Indonesia is rapidly becoming a key player in the APAC region for data center development, driven by factors such as increasing digitalization, government initiatives, and strong internet penetration. The country benefits from robust inland and submarine cable connectivity, with more than 50 existing submarine cables connecting Indonesia to global markets. These include key cables like the Australia-Singapore cable and SeaMeWe-5. Upcoming cables, such as Apricot and Bifrost, are further enhancing Indonesia's connectivity. The country's data protection framework, governed by the Personal Data Protection (PDP) Law 2022, ensures safe data usage and protects users from fraud and breaches. Indonesia's extensive network of submarine cables, such as the JaKa2LaDeMa cable, plays a significant role in boosting internal connectivity. Additionally, the government has launched initiatives like the National Strategy for Artificial Intelligence (2020-2045) and the One Indonesia Data policy to accelerate digital transformation. With the increasing integration of 5G technology, Indonesia is seeing a surge in data generation and storage needs, prompting cloud service providers to invest in the establishment of new data centers in the country. This growing demand for data infrastructure highlights Indonesia's position as an emerging data center hub in the APAC region. Growth of the Data Center Market in Indonesia: Opportunities and Trends Indonesia's data center market is experiencing steady growth, with around 81 existing colocation facilities spread across key cities like Jakarta, Batam, and others. The increasing shift towards digital activities in the country has led to a rising demand for colocation services, creating significant opportunities for the sector. New market entrants like SM+, Digital Realty Bersama, Equinix, and Edge Centres are intensifying competition in the space. The absorption rate of data centers in Indonesia is approximately 75%, with Jakarta seeing higher demand than other cities. The potential for oversupply exists, particularly depending on the demand from hyperscale cloud providers and internet service providers. Batam, benefiting from the spillover demand from Singapore, is emerging as a key location for data centers, especially after the lifting of Singapore's moratorium on new data centers in 2022. The sectors driving colocation demand include finance, telecom, healthcare, education, e-commerce, and social media, with large enterprises and government agencies increasingly migrating to cloud infrastructure. The government's digitalization efforts, strong infrastructure, and adoption of renewable energy are expected to further boost the growth of Indonesia's data center market. Growing Investments in Batam, Indonesia: A Data Center Hub Batam, strategically located near Singapore, is rapidly emerging as a key hub for data center development in Indonesia. This growth is supported by Indonesia's 'Making Indonesia 4.0' plan, which aims to digitize various industries, and the government's creation of the Batam Free Trade Port Area and Special Economic Zone (SEZ) to attract investment. The Batam Industrial Development Authority (BIDA) facilitates these efforts by supporting economic growth in the region. Batam's location outside the earthquake and tsunami-prone 'Ring of Fire' provides a significant advantage for data center operations. The Nongsa Digital Park (NDP), established in 2018, has become a preferred destination for data center operators due to its tech-friendly infrastructure, independent power stations, and high-speed broadband connectivity. Additionally, Batam benefits from several existing submarine cables, with upcoming cables like Apricot, Asia Connect Cable-1, and Hawaiki Nui enhancing connectivity. This makes Batam an increasingly attractive destination for data center investments. Why You Should Buy this Research? This research offers an in-depth analysis of Indonesia's data center market, providing valuable insights for investors and industry stakeholders. It covers key metrics such as market size, investment in colocation, hyperscale, and enterprise operators, and the power capacity of data centers across the country. The report details the existing and upcoming data centers in 18+ cities, including 81 facilities in operation and 24 planned, alongside forecasts for IT load capacity and area (thousand square feet). Additionally, the study includes a detailed forecast for the colocation market from 2024 to 2030, highlighting trends in wholesale vs. retail colocation, pricing models, and investments in IT, power, cooling, and construction. The research also provides an analysis of growth opportunities, industry trends, and challenges, along with business overviews of major players in the sector. This comprehensive resource will aid in making informed strategic and investment decisions. The Report Includes the Investment in the Following Areas: IT Infrastructure Server Infrastructure Storage Infrastructure Network Infrastructure Electrical Infrastructure UPS Systems Generators Transfer Switches & Switchgears PDUs Other Electrical Infrastructure Mechanical Infrastructure Cooling Systems Rack Other Mechanical Infrastructure Cooling Systems CRAC and CRAH Units Chillers Units Cooling Towers, Condensers and Dry Coolers Other Cooling Units General Construction Core & Shell Development Installation & Commissioning Services Building & Engineering Design Fire Detection & Suppression Systems Physical Security Data Center Infrastructure Management (DCIM) Tier Standard Tier I & Tier II Tier III Tier IV Geography Jakarta Batam Vendor Landscape IT Infrastructure Providers Cisco Systems Dell Technologies Fujitsu Hewlett Packard Enterprise Hitachi Vantara Huawei Technologies IBM Inspur Lenovo Data Center Construction Contractors & Sub-Contractors Aesler Group AO Construction ARKONIN Asdi Swasatya Aurecon Group Beca Cundall BW Design Group DSCO Group Leighton Asia NTT Facilities Obayashi Corporation Parker van den Bergh PT PP Ramboll PT SMI Tetra Turner & Townsend Vale Architects WT Asia Support Infrastructure Providers ABB Caterpillar Cummins Cyber Power Systems Delta Electronics Eaton Fuji Electric HITEC Power Protection Legrand Mitsubishi Electric Piller Power Systems Rittal Rolls-Royce Schneider Electric STULZ Vertiv Data Center Investors BDx Data Centers Biznet Data Center Bitera Data Center Datacomm Diangraha DCI Indonesia DTP Telecom Elitery EDGE DC EdgeConneX IndoKeppel Data Centres IDC Indonesia MettaDC NTT DATA Princeton Digital Group Pure Data Centres ST Telemedia Global Data Centres Telkom Indonesia (NeutraDC) New Entrants BW Digital DayOne Digital Realty Bersama EDGNEX Data Centres by DAMAC Equinix Evolution Data Centres Gaw Capital K2 Data Centres Microsoft Minoro Energi SM+ SEAX Global Singtel (Nxera) Key Questions Answered in the Report: How big is the Indonesia data center market? How much MW of power capacity will be added across Indonesia during 2025-2030? What is the growth rate of the Indonesia data center market? Which cities are included in the Indonesia data center market report? What factors are driving the Indonesia data center market? Check Out Some of the Top Selling Reports of Your Interest: Japan Data Center Market - Investment Analysis & Growth Opportunities 2025-2030 Malaysia Data Center Market - Investment Analysis & Growth Opportunities 2025-2030 Why Arizton? 100% Customer Satisfaction 24x7 availability – we are always there when you need us 200+ Fortune 500 Companies trust Arizton's report 80% of our reports are exclusive and first in the industry 100% more data and analysis 1500+ reports published till date Post-Purchase Benefit 1hr of free analyst discussion 10% off on customization About Us: Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services. We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts. Arizton comprises a team of exuberant and well-experienced analysts who have mastered generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
