Week in Tech (Nov 23-29, 2020): India blocks another 43 Chinese apps, Tesla’s market value crosses $500 billion and more
November 29, 2020 5:28:37 pm
The Indian government has 43 more Chinese origin apps in India, including AliExpress.
Tesla has had a busy week with the company’s value soared over $500 for the first time. CEO Elon Musk has been the biggest beneficiary of the stock rise, as his net worth jumped $7.2 billion, making him the second richest man with an estimated worth of $127.9 billion. In other news, the Indian government this week blocked 43 Chinese apps, including AliExpress, on the grounds of national security. For the past few months, India has been banning Chinese apps following a border clash between Indian and Chinese soldiers. This week, luxury fashion house Balenciaga has revealed that it will unveil its autumn/ winter 2021 collection in an original video game.
Read about these tech stories in detail below.
Tesla’s market cap tops $500 billion
Tesla has become the world’s most valuable automaker, surpassing Toyota. The company’s market cap rose over $500 billion for the first time on Tuesday. Despite the pandemic, the electric car company’s share price has grown over 550 per cent since the start of the year. Thanks to the surging stock, CEO Elon Musk’s net worth reached $127.9 billion, according to Bloomberg’s Billionaire index. The Palo Alto-based Tesla is known for high-end, luxury electric cars. Despite that, there is a demand for Tesla cars in the market. Tesla is rumoured to launch its first car in India sometime next year.
India blocks 43 more Chinese apps
The Indian government has banned another 43 Chinese apps on the grounds of national security. The list of apps banned this week include AliExpress and TaoBao Live. Since June, India has been blocking Chinese origin apps following a border clash between the two nations. At the beginning of this year, India blocked access to 59 apps, which included TikTok, Weibo and WeChat. Later, in September, the government extended that ban to include 118 more Chinese apps, with PUBG being the biggest name to be barred from accessing in India. In total, the Indian government has banned close to 220 Chinese mobile apps.
