The Walt Disney Co on Tuesday announced a 2 billion euro (US$2.5 billion) expansion of its Paris amusement park which would add a new Star Wars-themed zone to the huge site.
Disneyland Paris is also to build new areas devoted to its hit animated film Frozen and the Marvel comics franchise (Spider-Man, The Hulk and X-Men) as part of the makeover, which is to take several years.
The work is to start in 2021 and significantly expand the park, which is Europe’s most popular private tourism destination with 320 million visits since it opened in 1992.
Photo: Reuters
A new artificial lake at the site in Marne-la-Vallee, in the eastern Paris suburbs, is to become a hub for live entertainment shows.
French President Emmanuel Macron hailed the investment as a “very strong commitment” to France after talks at his office with Disney chairman and chief executive Bob Iger.
“Your confidence shows that France is back!” tweeted the French president, who has made reinvigorating the economy a top priority.
Disneyland Paris accounts for 6.2 percent of France’s tourism income alone, according to Disney, which described the expansion plan as “one of the most ambitious development projects” in the park’s history.
The US entertainment giant took back full control of the French park last year after buying the 14 percent stake it did not already own.
Despite its popularity, Disneyland Paris is burdened by heavy debts that surpassed 1 billion euros in the financial year to September 2016 and it has made a loss almost every year since 1992.
It managed to reduce its losses in the second half of 2016 thanks to a boost in visitor numbers, which had dropped after a string of terrorist attacks in France.
PROTECTIONISM: China hopes to help domestic chipmakers gain more market share while preparing local tech companies for the possibility of more US sanctions Beijing is stepping up pressure on Chinese companies to buy locally produced artificial intelligence (AI) chips instead of Nvidia Corp products, part of the nation’s effort to expand its semiconductor industry and counter US sanctions. Chinese regulators have been discouraging companies from purchasing Nvidia’s H20 chips, which are used to develop and run AI models, sources familiar with the matter said. The policy has taken the form of guidance rather than an outright ban, as Beijing wants to avoid handicapping its own AI start-ups and escalating tensions with the US, said the sources, who asked not to be identified because the
Taipei is today suspending its US$2.5 trillion stock market as Super Typhoon Krathon approaches Taiwan with strong winds and heavy rain. The nation is not conducting securities, currency or fixed-income trading, statements from its stock and currency exchanges said. Yesterday, schools and offices were closed in several cities and counties in southern and eastern Taiwan, including in the key industrial port city of Kaohsiung. Taiwan, which started canceling flights, ship sailings and some train services earlier this week, has wind and rain advisories in place for much of the island. It regularly experiences typhoons, and in July shut offices and schools as
Her white-gloved, waistcoated uniform impeccable, 22-year-old Hazuki Okuno boards a bullet train replica to rehearse the strict protocols behind the smooth operation of a Japanese institution turning 60 Tuesday. High-speed Shinkansen trains began running between Tokyo and Osaka on Oct. 1, 1964, heralding a new era for rail travel as Japan grew into an economic superpower after World War II. The service remains integral to the nation’s economy and way of life — so keeping it dazzlingly clean, punctual and accident-free is a serious job. At a 10-story, state-of-the-art staff training center, Okuno shouted from the window and signaled to imaginary colleagues, keeping
Arm Holdings PLC approached Intel Corp about potentially buying the ailing chipmaker’s product division, only to be told that the business is not for sale, according to a source with direct knowledge of the matter. In the high-level inquiry, Arm did not express interest in Intel’s manufacturing operations, said the source, who asked not to be identified because the discussions were private. Intel has two main units: A product group that sells chips for personal computers, servers and networking equipment, and another that operates its factories. Representatives for Arm and Intel declined to comment. Intel, once the world’s largest chipmaker, has become the