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Consumer-to-consumer (C2C) e-commerce platform <keyword id="2615037" type="General" weightage="100" keywordseo="carousell" source="Orion">Carousell</keyword> has laid off about 110 employees, or 10 per cent of its total workforce, in an effort to reduce costs. Siu <keyword id="15698547" type="General" weightage="80" keywordseo="rui-quek" source="Orion">Rui Quek</keyword>, co-founder and CEO of Carousell, said that he takes responsibility for the "decisions that have led us here". The Singapore-headquartered company operates in Malaysia, Indonesia, the Philippines, Cambodia, Taiwan, Hong Kong, Macau, <keyword id="6355478" type="General" weightage="20" keywordseo="australia" source="Orion">Australia</keyword>, New Zealand and Canada. "Emails will be sent to everyone in affected business units, clarifying if your role was impacted," he said in a statement. "Parting with teammates, whom we are grateful to for joining us on this mission, is a very difficult decision. We will be sure to treat everyone impacted with compassion and to lend as much support as we can to them," said the CEO. The company will offer 1 month of salary for every year of service, rounded up to the nearest half year, to each impacted employee. "We will ensure that every impacted teammate will have at least 3 months of compensation, topping-up the difference where necessary," said <keyword id="310516" type="General" weightage="80" keywordseo="quek" source="Orion">Quek</keyword>. The CEO said as we emerged from the Covid lockdowns of 2021 across key markets of the group, "we were optimistic about the recovery to come and eager to reignite growth in our core classifieds business". "Looking back, I'd made critical mistakes: First, I was too optimistic about the pace of our impact versus our increase in investments. Second, while it is easy to blame market conditions, I also underestimated the impact of growing our team size too quickly," he admitted. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/oil-prices-rise-after-g7-nations-cap-the-price-of-russian-crude-at-60/barrel/articleshow/95996679.cms">Oil prices rise after G7 nations cap the price of Russian crude at $60/barrel</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/italy-home-to-highest-number-of-unofficial-chinese-police-stations-says-a-spanish-civil-rights-group/articleshow/95996001.cms">Italy home to highest number of unofficial Chinese 'police stations' says a Spanish civil rights group</a>

E-commerce platform Carousell lays off 110 employees to reduce costs

<ul class="summary-list"><li>Ticketmaster crashed once again, this time during ticket sales for the Eurovision Song Contest 2023.</li><li>People say they got error messages and that the website glitched when they tried to access it.</li></ul>Ticketmaster disappointed fans again when its website glitched on Tuesday, disrupting the sale of tickets to the Eurovision Song Contest 2023.Some people trying to secure tickets were unable to access the website and greeted with "500 - Internal Server Error" messages, <a href="https://www.bloomberg.com/news/articles/2023-03-07/ticketmaster-website-crashes-as-eurovision-final-tickets-sell-out" target="_blank" rel="noopener">Bloomberg</a> reported. Others were thrown out of the virtual queue and received a message saying their session had expired "due to inactivity," per Bloomberg.Tickets <a href="https://inews.co.uk/culture/eurovision-2023-tickets-what-time-sale-today-how-get-song-contest-liverpool-2192254">went on sale at 7 a.m. Eastern Standard Time</a>. Eurovision tweeted at 7:36 a.m. that all its tickets for the annual music competition's grand finals were sold out. And at 8:32 a.m., it <a href="https://twitter.com/Eurovision/status/1633098382855094273" target="_blank" rel="noopener">announced</a> that tickets to all the Eurovision shows were sold out.Disappointed Eurovision fans made themselves heard on <a href="https://twitter.com/kmac151/status/1633096022913155073" target="_blank" rel="noopener">Twitter</a> after they failed to get tickets.Samantha Quek, a BBC television presenter, tweeted that she's presenting at the opening ceremony — but even she could not get tickets. A Ticketmaster spokesperson told Insider that the site "did not crash," but a "very small number of fans experienced issues accessing the queue." "Ticket sales were unaffected, and thousands of fans secured their seats for the Eurovision Song Contest, which is now sold out," the spokesperson said. In December, Ticketmaster <a href="https://www.businessinsider.com/ticketmaster-under-fire-faces-fine-selling-fake-bad-bunny-tickets-2022-12" target="_blank" rel="noopener">faced criticism</a> after an "unprecedented" number of people were sold fake tickets to a Bad Bunny concert in Mexico City.The company also <a href="https://www.businessinsider.com/ticketmaster-explain-disastrous-taylor-swift-tour-sale-2022-11">came under fire</a> in November <a href="https://www.insider.com/ticketmaster-cancels-its-general-sale-for-taylor-swifts-eras-tour-2022-11">after its system was overwhelmed</a> during ticket sales for Taylor Swift's "The Eras Tour."<a href="https://www.livenationentertainment.com/leadership/joe-berchtold/">Joe Berchtold</a>, the president and CFO of Live Nation Entertainment, Ticketmaster's parent company, was called to testify before a Senate committee in January over the Taylor Swift ticket sales debacle.During his <a href="https://www.judiciary.senate.gov/imo/media/doc/Testimony%20-%20Berchtold%20-%202023-01-24.pdf" target="_blank" rel="noopener">testimony</a> to the Senate on January 24, Berchtold apologized to Swift and her fans, saying that "bot traffic" disrupted the ticket sales. This year's Eurovision Song Contest, which is organized by the BBC and the European Broadcasting Union, will be held from May 9 to 13 at Liverpool's <a href="https://www.mandsbankarena.com/visiting-us/the-venue/layouts/" target="_blank" rel="noopener">11,000-seat Liverpool Arena</a>, per Eurovision's <a href="https://eurovision.tv/event/liverpool-2023" target="_blank" rel="noopener">website</a>.Tickets for the event were priced from $31 to $305 for the semi-final shows, and between $84 to $400 for the grand final, per Ticketmaster's <a href="https://www.ticketmaster.co.uk/eurovision-tickets/artist/1700845?int_cmp_name=Eurovision-2023&amp;int_cmp_id=UK-Home-601&amp;int_cmp_creative=Home-main-5&amp;tm_link=tm_ccp_Home_main_Eurovision-2023" target="_blank" rel="noopener">website</a>.

Ticketmaster's website crashed again, disrupting ticket sales for the Eurovision Song Contest 2023

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>Almost every major brand harnesses Twitter to share news and build up a dialog with their customers. But, surprisingly, very few of the people behind those brands - the marketing teams, agency executives and creators of the tech that power digital <keyword id="35666" type="COMPANY" weightage="100" keywordseo="advertising">advertising</keyword> - use Twitter in the same way for themselves.
<a href="##slideshow##">Go straight to the list &gt;</a>
The Twitter accounts of most top marketers and agency CEOs are rubbish. They aren't even updated regularly.
That's why we pulled together this list of the best people in advertising and marketing to follow on Twitter.
These are the advertising execs that provide the best value to the industry with their tweets full of information, insight into the companies they work for, opinions on marketing, or humor and entertainment.
We've weighted our rankings using a (not entirely mathematical) scale of how often the user tweets plus whether the majority of those tweets tend to be useful/opinionated/funny/or simply brighten up people's Twitter feeds day-to-day.

The 30 Best People In Advertising To Follow On Twitter

<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div><ul><li>John Isner and Kevin Anderson played a six-hour match in the Wimbledon semifinal due to a fifth set that refused to end.</li><li>While the match was tense, it was far from compelling, with both power players simply blasting serves past one another and trading service in the final set.</li><li>The match could not end due to a quirk of Wimbledon and two of the other Grand Slams - the fifth set cannot end in a tiebreaker.</li></ul>John Isner and Kevin Anderson simply refused to lose.With a spot in the Wimbledon final on the line, the two power players beat each other to a standstill in a match that stretched almost seven hours.In front of an exhausted London crowd that was still awaiting a far more anticipated semifinal match to come&#xa0;- Rafael Nadal vs Novak Djokovic&#xa0;- Anderson eventually got Isner to blink, breaking his serve and going on to win, but needing 50 games in the final set that eventually ended,&#xa0;7-6(6), 6-7(5), 6-7(9), 6-4, 26-24. Between them, the two players combined for 102 aces and just six breaks.While one might think that such a closely fought match was an enthralling display of athleticism, as the game teetered back and forth in the fifth set, the opposite was true. Isner and Anderson, both giants capable of enormous serves, just kept blasting the ball past each other, trading service and sides of the court as the rules dictated, but rarely ever competing in a compelling rally.The reason the match went on for so long comes down to one of Wimbledon's quirks - a five-set match cannot end on a tiebreaker, a tradition shared at the French Open and the Australian Open.While the U.S. Open would have a 6-6 fifth set end in a tiebreaker race to win by two, with every point building in importance and drama, Wimbledon uses advantage sets and&#xa0;insists that you must break your opponent's service game and win the set by two games to win the match. In most cases, this is still a compelling finish, but when you put two heavy-hitting goliaths against each other, what results is a six-hour slog that can cause delays across the tournament.The second semifinal of the day, pitting Rafael Nadal against Novak Djokovic, was easily the most highly-anticipated match of the tournament so far - and its start was delayed well over three hours as the city of London waited for either Isner or Anderson to blink.It's not the first time that Isner has played to a marathon match - back in 2010, he defeated Nicolas Mahut&#xa0;6-4, 3-6, 6-7(7), 7-6(7), 70-68 in the first round at Wimbledon in a match that lasted over 11 hours and was played over three days.As it became clear that Isner was due for another endless fifth set, tennis fans were far from delighted.Patrick McEnroe, who was in the booth for the match, argued that there needed to be some change to prevent such a long match from happening again.Wimbledon's lack of a fifth set tiebreaker in one of the things that makes the major unique. While Isner's match back in 2010 was a fun side note that helped garner interest in the tournament for fans it might not usually reach, to have a never-ending saga played in the semifinal doesn't look great for the sport.Anderson will play again in the final on Sunday - hopefully there, a winner will be decided in four sets or less.<div></div><div></div><div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/england-soocer-fans-explain-its-coming-home-gareth-southgate-three-lions-memes-2018-7">'It's coming home': England fans explain the emotional rallying cry of the World Cup</a></h3> <div> </div> </div>

One of Wimbledon's quirky traditions came back to haunt them in a semifinal match that took over 6 hours and featured almost nothing but aces

<div class="KonaFilter image-container display-table"><div><div class="image"></div></div></div>Hong Kong (AFP) - A flawless fancy vivid pink diamond sold for a record US$17.7 million in Hong Kong late Tuesday, Sotheby's said.
The auction house said the internally flawless 8.41-carat stone had been expected to go under the hammer for up to US$15.5 million.
Quek Chin Yeow, deputy chairman of Sotheby's Asia, said the pear-shaped stone had "attracted keen competition before fetching a wonderful price of HK$137.88 million (US$17.77 million) and setting a world auction record for a fancy vivid pink diamond".
The buyer's identity was not immediately disclosed.
Internally flawless clarity is extremely rare in pink diamonds, and the auction house said this, in combination with its "fancy vivid" colour grading, made the stone "amongst the rarest and most desirable of coloured diamonds ever seen at auction".
Diamonds in the "fancy vivid" category are considered as having the highest possible concentration of colour.

This 'Fancy Vivid Pink Diamond' Just Sold For A Record $17 Million

<div class="KonaFilter image-container display-table"><div><div class="image"></div></div></div><ul class="summary-list"><li>Goldman Sachs announced its 2019 class of managing directors, with 465 new promotes getting the nod.</li><li>Of the 465 promoted, 29% are women, and 34% identified as an ethnic minority or LGBTQ.</li><li>The firm announces managing-director promotions every two years.</li><li>It's one of the most coveted positions on Wall Street, a step below partner at the premier investment bank.</li></ul><a href="http://markets.businessinsider.com/stock/GS-Quote"> Goldman Sachs</a> just announced a new class of 465 managing directors, and millennials comprised nearly two-thirds of it. The promotions, which are announced once every two years and are among the most coveted on Wall Street, put recipients one step <a href="https://www.businessinsider.com/goldman-ceo-solomon-offering-buyouts-to-partners-shrink-senior-ranks-2019-9">below partner</a> at the prestigious investment-banking firm.The 2019 class is smaller than the record-setting class of 509 in 2017, but larger than the class of 2015, which had 425 new MDs.It's also one the youngest classes the bank has promoted - 62% are millennials, up from 44% in 2017 and <a href="https://www.businessinsider.com/goldman-managing-director-list-2015-11">30% in 2015</a>.Other headline stats about the class:<ul><li>66% started their careers as analysts or associates at Goldman Sachs, equal with 2017.</li><li>29% of the class is women, up from 24% in 2017.</li><li>34% of the identified as an ethnic minority or LGBTQ: 26% are Asian, 4% are black, 2% are hispanic/Latino, and 2% are LGBTQ. </li></ul><h2>Here's the full list of all 465 new managing directors:</h2>Rashid Abdalla Angela Abramian-Katz Meredith Adams Keren Adan Vikas Agrawal Mike Ahern Edward Ainsworth Danny Akerman Temidayo Akinola Aaron Albert Eyas Aldossari Marsha Alexander Daniel Alger Asad Ali Brendan Ames Dipam Amin Rebecca Anderton-Davies Junnosuke Ando Ash Ang Timothy Arblaster Kenan Arkan Patrick Armstrong Cameron Arrington Cindy Au Anne-Victoire Auriault John Aurre Frederick Baba Andrew Bailey Tanya Baker Victoria Baker-Duly Venkatesh Balasubramanian Nick Baltas Maria Barron Baratech Luke Barrs Robert Bartlett Dennis Beeson Angus Bell Bob Bengtson Kerryann Benjamin Jeff Bernstein Adam Berry Michel Beshara Justin Betzen Praveen Bhagavathula Peter Biggs Ersen Bilgin Nathan Bird Simon Birtwistle Barnali Biswal Brittany Boals Moeller David Bodenstein Vanessa Bogaardt Kevin Boova Andrea Bora Said Boujnah Jeff Boyd Rachel Boyd Glyn Braganza Joyce Brayboy Pierre Brunet Keith Brunini Steven Budig Francisco Cabeza Kimberly Carabetta Sarah Card Marie Cardoen Gloria Carreno Jonathan Carter Osmar Castellani Junior Lucia Catalan Federico Ceresole Jeffrey Chao John Chappell Yogesh Chati Frank Chen Selina Chen Hakim Cherrouk Christopher Yiu Chung Cheung Tak Cheung Siddharth Chhabria Liz Chick James Chilcott Jon Child Naveen Choppara Leonard Chung George Cole Greg Collett James Colletti Kevin Conniff Simon Constant Charles Corke Krystal Cowan Ben Coward-Talbott Nerissa Cumberbatch Ryan Cunn Nadim Daban Brook Dane Abigail Darby Michael Daub Bill Davis Christopher Dawe Jeffrey Dawkins Adam Dawson Philipp de la Chevallerie Camille de Lamotte Frederik De Neree Joaquin de Soto Dan Deighton Manuel Deijk Stefanie D'Elia Lena Demashkieh Michael Dente Philippe Derimay Bradley Diener Michel Dimitri Angelo Diotisalvi Natalia Dobrinskaya John Doherty Matthew Doherty Jerome Dortmans Hamish Douglas Crista Downey Andre D'Souza Alexander Dupont Brett Durick Tsuyoshi Egawa Gaudenz Eichenberger Nnaemeka Eke Bill Elfsten Abel Elizalde Russell Elliott Scott Epperson Robert Fama Meriem Feghoul Xinyi Feng Roger Fenningdorf David Fernandez Morgan Fitzpatrick Ryan Flanagan John Flood Kellan Florio Kerry Flynn Jeremy Follett Anneliese Foster Fabrice Francois Marissa Freund Anders Furuhed Sebastien Gagnon Timothy Galligan Francesca Gardner Raj Garigipati Brian Garrett Douglas Gilman Aaron Goldman Jeremy Goldman Sanyam Goyal Ricky Grant Steven Gray Jules Gruner Shao Ping Guan Anushka Gupta Sonia Gupta Arvind Guruprasad Itir Guvenc Mungan Raymond Haagen Andrew Haave Sylvia Hadjimamas Terry Hagerty Sharon Hall Jeff Haller Scott Hankey Sara Hanlon Tom Haraldsson Alex Harman Lauren Havens Ken Hayahara James Hayward Tom Healy Victoria Hegan Michael Heller Paula Hendrickson Evan Herring Schuyler Heuer Daniel Hibbert Andrew Hine Megan Hogan Yoomin Hong John Hooton George Horton Dan Howard Christine Hu Katie Hyde Nicole Irvin Ahmed Ismail Kumar Iyer Philip Jacob Raphaelle Jacquemin Rajan Jain Rich James Marene Jennings Kyle Jessen Natasha Jhunjhunwala Brandon Johnson Geddes Johnson Milind Joshi Sojin Jung Amy Jupe Michael Kagan William Kallop Jordan Kaufman Charlotte Keenan Maxime Kennel Aron Kershner Ronald Keung Eugene Khafizov Feroz Khosla Kieron King Tom Knott Simon Knowles Sarah Kong Scott Konicki Robert Koslow Kunal Koya Elisabeth Kozack Joanna Kozlowski Kristin Kramer Jason Kreuziger Daniel Krinsky Kristin Kuney Casey Laflamme Beyrouthawit Lakew Mikael Lang Mark Langham Francesca Lau Karmen Lau Victoria Ledda Adrian Lee Sara Lee Niall Leguillon Chip Lemkau Marie Claire Lennon Matthew Leskowitz Ryan Lester Curtis Leung Jacky Leung Giulia Lewandowski Christian Lhert Aihua Liang Chi-Yu Liang Mony Lim Nyan Lin Tobias Lindemann Jon Lindgren Ada Liu Adrian Loh Syida Long Lorenzo Pasquale Longo Alexandre Lucas Michelle Luk Amanda Lynam Chris Lyon Srivats Madhavan Alok Madhukar Devasish Majumdar Salome Makharadze Shun Manabe James Mann Todd Mansfield Corey Maple Ivan Martinez Farzad Mashayekhi Morad Masjedi Michael Mastropaolo Moe Matar Colin Mathews Ritesh Mathur Brooke Mayne Jordan McCallum Mark McCaskill Catherine McCormack Paul McGregor Andrew McLennan Brian McMahon Nehal Mehra Ramiro Menchaca Mark Midle Giuseppe Milicia Kristin Milot Yusuke Minowa Aric Mizrahi Sherry-Ann Mohan Stacy Mohr Mohammed Mohsinali Helen Moloney Matthew Mottram Richard Mulley Ken Murata Sarah Murray Usman Naeem Soumik Nandy Satish Narang Vijay Narayanan Jamil Nathoo Joseph Natoli Sean Navin Aziz Ndiaye Ryan Newman Sara Nielsen Eyal Nirenberg Quinn O'Bryen Joanna Obstoj Jackie O'Connor Nonso Ogbonna Laide Oginni Mari Oishi Scarlett Omar-Broca Enrico Orlandi Jean Otrakji Edouard Panie Francesco Papa Pratik Pareek Gemma Parrott Atul Pawar Arnaud Payement Yuriy Podoshev Mitesh Popat Matthew Popper Arnaud Porchet Nicole Poulson Joseph Pozzi Anant Prasad Frederic Pripp Chaitra Purushotham Benny Quek Conor Quinn Thomas Radberg Stephanie Raimo Kamal Ramnani Michael Rand Olivia Rascoe Jibraan Rasheed Varun Rastogi Seth Reagen Nikhil Reddy Adil Rehman Elaine Rene Salveen Richter Fabian Riedel Helen Rigley Joe Ritchie Ilan Rochman David Rockliff Pearl Rodrigues Mark Romanczuk Mairin Rooney Delia Rosoga Ranjith Roy Mark Ruffles Benjamin Runnacles Ashley Ryan Eric Ryckman Takeshi Saito Sushil Sancheti Neha Santiago Vijay Saraswat James Sarvis Christian Schaefer Heather Schuyler Katelyn Seager Gowri Sekar Chris Semones Vikram Sethi Hui Shan Adi Sharma Praharsh Sharma Nicole Sharp Inna Shaykevich Jenna Shen David Shih Michael Shin Aekloveya Shyam Haris Siddiqi Adam Siegler John Sienkiewicz Craig Singer Peter Smith Brian Snyder Tejas Sodha Doug Spencer Mark Spitzer Anushree Srivastava Christian Stassen Holger Staude Emily Stecher Becky Steinthal Samuel Su Vivek Sukhatme Danny Suwanapruti Andy Tai Stephanie Tan Kei Tanaka Jacky Tang Hekmat Tannous Michael Tarulli Luigi Tavella Archana Tayade Emma Taylor Lori Taylor Asher Teren Gurtaran Thethi Jonathan Thomas Neil Thomas Bryn Thompson-Clarke Todor Todorov Steven Torbeck Sidney Tordjman Stephen Tripi Clemens Tripp Michael Trokoudes Jason Tsang Christian Tschirdewahn Candice Tse Vicki Tung Mateo Ugas Alekhya Uppalapati Rucha Vaidya Steven Valentic Peter VanDeventer Kyle VanFleet Alexandre Virolle Christopher Volmut Neel Vora Danielle Walsh Jordan Walter Bingwen Wang Phyllis Wang Zac Wang Brandon Watkins James Weaver Deborah Wei* Steven Weiss Robert Whelan Andrew White Anna Whitlow Eva Maria Wiecko Liz Wilcockson Lennart Wilhelm Rob Williams Henry Willoughby Jim Wiltshire Maggie Wojcik William Wolcott Jean Xu Xiao-ou Kevin Xu Susan Yan Julien Yoo Wael Younan Laura Young Nick Young Ali Zaidi Kirill Zavodov Thilo Zeidler James Zhang Wanjing Zhang Yun Zhang <a href="https://www.businessinsider.com/intelligence/10-up-and-coming-fintechs-2019?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_leadgen&amp;itm_content=finance&amp;itm_campaign=10-up-and-coming-fintechs-2019-2"></a>

Goldman Sachs' new managing-director list is out, and millennials dominated the class

The much-awaited inaugural list of <a href="http://www.businessinsider.in/searchresult.cms?query=Asia%27s+50+richest+families+">Asia's 50 richest families</a> was published on Thursday by <a href="http://www.businessinsider.in/searchresult.cms?query=Forbes+Asia+magazine+">Forbes Asia magazine</a> with South Korea's Lee family, which controls the formidable <a href="http://www.businessinsider.in/searchresult.cms?query=Samsung+conglomerate">Samsung conglomerate</a>, is at the top. 
 
As of late September, the Lee family had a net worth of $26.6 billion, with second and third generation members now running over 50 businesses. 
 Founded in 1938, the <keyword id="10591" type="CITY" weightage="100" keywordseo="Samsung">Samsung</keyword> empire was owned by wealthy landowner's son Lee Byung-Chull. It has now diversified interests ranging from mobile phones to construction and shipbuilding. 
 
According to Forbes Asia, Samsung, the biggest of the "chaebol" or family-run <a href="http://www.businessinsider.in/searchresult.cms?query=Samsung+conglomerate">conglomerates dominating the nation’s economy</a>, accounted for 22% of the South Korea’s total gross domestic product (<keyword id="35050" type="CITY" weightage="40" keywordseo="gdp">GDP</keyword>) in 2014. 
 
"Nearly half of the richest families in Asia are of Chinese descent, yet none of the inaugural 50 is based in the mainland, where conglomerates are young, run by the first generation," it said in a report. 
 
Now comes the second richest in the list, that is the Hong Kong Chinese family, also surnamed Lee. The family controls Henderson Development and boasts a fortune of $24.1 billion. 
 
The <a href="http://www.businessinsider.in/Mukesh-Ambani-Remains-Indias-Most-Richest-Business-Tycoon/articleshow/43459710.cms">Ambanis of India's Reliance Group</a> ranked third richest in the list with a combined net worth of $21.5 billion, followed by Thailand's Chearavanont family with $19.9 billion, generated from the agriculture-based Charoen Pokphand group. 
 Rounding out the top five is the <keyword id="2707920" type="UNKNOWN" weightage="80" keywordseo="Kwok-family">Kwok family</keyword>, which controls Hong Kong's Sun Hung Kai property empire, with a combined net wealth of $19.5 billion. 
 
Only families with business involvement extending to at least three generations were included in the survey. 
 The family of Hong Kong tycoon <keyword id="223314" type="PERSON" weightage="80" keywordseo="Li-Ka-shing">Li Ka-shing</keyword>, who has a current net worth of $25 billion based on a Forbes global list, was excluded because he has no grandchildren who have taken serious roles in the family business, it said. 
 The estimates of family fortunes were based on stock prices and <keyword id="124577" type="UNKNOWN" weightage="20" keywordseo="exchange-rates">exchange rates</keyword> at the close of markets on September 25. 
 
The top 10 richest families in Asia on the Forbes Asia list with their main businesses: 
 
1) Lee from South Korea (Samsung): US$26.6 billion 
 
2) Lee from Hong Kong (Henderson): $24.1 billion 
 
3) Ambani from India (Reliance): $21.5 billion 
 
4) Chearavanont from Thailand (Charoen Pokphand): $19.9 billion 
 
5) Kwok from Hong Kong (Sun Hung Kai): $19.5 billion 
 
6) Kwek/Quek from Singapore, Malaysia (Hong Leong): $18.9 billion 
 
7) Premji from India (Wipro): $17 billion 
 8) Tsai from Taiwan ( <keyword id="378103" type="COMPANY" weightage="20" keywordseo="Cathay-Financial">Cathay Financial</keyword>): $15.1 billion 
 
9) Hinduja from India, Britain (Hinduja Group): $15 billion 
 
10) Mistry from India (Shapoorji Pallonji Group): $14.9 billion 
 
(Image: Indiatimes)

Forbes' top Asia's richest families list is out! Three Indian names included in it

<div class="KonaFilter image-container"><div class="image on-image">AP Photo/Vincent Yu</div></div>White diamond sells for record $30.6 million at Hong Kong auction; blue diamond fetches $16M
HONG KONG (AP) - A white diamond the size of a small egg sold for $30.6 million at a Hong Kong auction Monday night, edging out the previous record for such a stone set just six months ago.
Two phone bidders competed for the 118-carat rock from Africa in six minutes of measured bidding until one dropped out in the Sotheby's jewelry auction, part of fall sales of art and collectibles by the firm and its rivals.
The twice-yearly ritual in the southern Chinese city draws wealthy collectors from mainland China and other Asian countries and has made the city one of the world's busiest auction hubs.
The "flawless" oval diamond, mined and cut two years ago, was hammered down for 212 million Hong Kong dollars ($27.3 million), just under the low end of the $28 million to $35 million estimate range set by Sotheby's. Total price including commission came to $30.6 million.
That was more than the previous record of $26.7 million for a white diamond set in May at Christie's in Geneva.
The stone, which weighed 299 carats when it was found in the rough in 2011, is the largest and most significant such diamond graded by the Gemological Institute of America. Sotheby's says it was discovered in southern Africa but won't name the country because the seller wishes to remain anonymous.
The auction's other highlight was a 7.6-carat flawless, round, vivid blue diamond that sold to a phone bidder for HK$125 million ($16.1 million) before commission, less than the $19 million estimate.
The two gems were among 330 lots of rare jewelry that fetched a total of $95 million.
"Hong Kong has in the last few years pulled itself up alongside Geneva and New York as one of the three major selling centers at auction" for <keyword id="6368047" type="COMPANY" weightage="60" keywordseo="diamonds">diamonds</keyword>, said Quek Chin Yeow, deputy chairman of Sotheby's Asia and an international diamond expert.
But he added that the results should not be taken as an indicator of how wealthy Asians are being affected by economic trends such as China's slowdown. That's because such stratospheric prices can only be afforded by the super rich, who he said are mostly immune from such fluctuations.
The world record price for a jewel at auction was set in 2010, when London jeweler Laurence Graff paid $46 million for a "fancy intense pink" diamond weighing 24.8 carats.
That record could be blown away in November, when Sotheby's puts a pink 59.60-carat diamond on the block that's expected to fetch more than $60 million in Geneva.
<div class="nc_footer">
Copyright (2013) <keyword id="176712" type="COMPANY" weightage="60" keywordseo="Associated-Press">Associated Press</keyword>. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
</div>

You Searched For "quek" and got 8 results

E-commerce platform Carousell lays off 110 employees to reduce costs

IANS

Ticketmaster's website crashed again, disrupting ticket sales for the Eurovision Song Contest 2023

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The 30 Best People In Advertising To Follow On Twitter

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One of Wimbledon's quirky traditions came back to haunt them in a semifinal match that took over 6 hours and featured almost nothing but aces

Tyler Lauletta

This 'Fancy Vivid Pink Diamond' Just Sold For A Record $17 Million

AFP

Goldman Sachs' new managing-director list is out, and millennials dominated the class

Alex Morrell,Dakin Campbell

Forbes' top Asia's richest families list is out! Three Indian names included in it

BI India Bureau

Giant White Diamond Sells For $30 Million

AP

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