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Tencent loses $34 billion in two days after India bans PUBG Mobile
The Chinese technology giant Tencent has lost nearly $34 billion of its market after the Indian government banned the company’s popular game PlayerUnknown’s Battlegrounds (PUBG) Mobile.
The Business Insider India reported that this is the second biggest dip in Tencent’s valuation since Bloomberg reported that the company lost $66 billion last month when US President Donald Trump banned WeChat.
“Tencent takes the protection of user privacy and data seriously. Our apps have always remained in compliance with applicable data protection laws in India and all other markets where we operate. We look forward to engaging Indian authorities to clarify our long-established policy and action in protecting user data, and hope to ensure the continued availability of our apps in India ” the company said in an emailed statement to Business Insider India.
India has banned 118 Chinese apps in India. In addition to PUBG Mobile, Arena of Valor, Chess Run, and Ludo World have also been blocked in the country.
According to the reports, PUBG had over 50 million active users in India.
The latest move comes after the ministry of electronics and information technology of India banned 59 chines apps including TikTok in late June following the rise of border tensions between the two countries.
Iran’s President Masoud Pezeshkian said on Saturday that its temporary leadership council had approved the suspension of attacks against neighboring countries unless an attack on Iran came from those countries.
The announcement came as Iran continued to launch attacks in the region in response to U.S.-Israeli strikes on the Islamic Republic, Reuters reported.
Afghan nationals were among dozens of people injured during recent missile and drone attacks launched by Iran against the United Arab Emirates, according to the UAE Ministry of Defence.
Authorities said the attacks caused over 100 minor injuries among residents of multiple nationalities, including Emirati, Egyptian, Ethiopian, Filipino, Pakistani, Indian, Bangladeshi, Sri Lankan, Lebanese and Afghan nationals.
The ministry also confirmed three fatalities — citizens of Pakistan, Nepal and Bangladesh — following the strikes.
The attacks are part of a wider escalation across the Middle East after US-Israeli strikes on Iran triggered retaliatory drone and missile launches against several Gulf states, including the UAE.
UAE Ministry of Defense said that since the start of the Iranian attacks, a total of 205 ballistic missiles have been detected, of which 190 were destroyed, 13 fell into the sea, and 2 landed within the UAE. During the same period, 1,184 Iranian drones were detected, with 1,110 intercepted, while 74 drones fell within the country’s territory.
Prominent Islamic scholar Ali al-Qaradaghi, president of the International Union of Muslim Scholars, has issued a religious ruling urging an immediate halt to fighting between Pakistan and Afghanistan during the holy month of Ramadan.
In a statement, Qaradaghi said that fighting between Muslim nations contradicts Islamic teachings and stressed that the lives of Muslims must be protected. He described the suspension of hostilities during Ramadan as a religious obligation, calling on leaders of both countries to stop the conflict before the last ten days of the holy month.
The scholar also urged the two sides to use the ceasefire as an opportunity to begin dialogue after Eid, noting that countries such as Qatar, Saudi Arabia, and Turkey could help mediate.
Qaradaghi emphasized the importance of unity among Muslim nations and warned against internal conflicts that weaken the broader Muslim world.
Hundreds, including civilians, have been killed and injured in fighting between Afghanistan and Pakistan that began over a week ago.
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