<ul><li><keyword id="216163" type="General" weightage="20" keywordseo="google-russia" source="Orion">Google Russia</keyword> plans to file for bankruptcy after local authorities seized its bank accounts, assets and property.</li><li><keyword id="6355629" type="General" weightage="20" keywordseo="google" source="Orion">Google</keyword> had been facing pressure from the Russian government after it failed to delete content, which Russia deemed illegal.</li><li>The country’s government had also imposed a fine of $113 million, or 7.2 billion Ruble, on the tech giant</li></ul>The Russian subsidiary of Google — which too is run by <keyword id="2994892" type="General" weightage="20" keywordseo="alphabet-inc" source="Orion">Alphabet Inc</keyword> — plans to file for bankruptcy after local authorities seized its bank accounts, assets and property. The company’s spokesperson confirmed the development, highlighting that Google Russia does not have enough assets to pay suppliers, vendors and employers. “Russian authorities' seizure of Google Russia's bank account has made it untenable for our Russia office to function, including employing and paying Russia-based employees, paying suppliers and vendors, and meeting other financial obligations,” the spokesperson, Julie Tarallo McAlister, said in a press statement. Google Russia is said to have employed over <a href="https://www.theverge.com/2022/5/18/23124143/google-russian-branch-bankruptcy-ukraine#:~:text=The%20Russian%20branch%20reported%20making,and%20employed%20over%20100%20workers.">100 employees</a>. With this, Google Russia has <a href="https://www.wsj.com/articles/google-subsidiary-in-russia-to-file-for-bankruptcy-11652876597">also moved</a> most of its employees out of the country. Despite the insolvency petition, services like Search, Maps, YouTube and Gmail would continue to be operational in the Asian country. There would be no changes to Google’s Android operating system or Play store app either, the company has confirmed. The development comes as Russia is fighting a war with Ukraine over geopolitical issues. Google had been facing a lot of pressure from the Russian government after it failed to delete content, which Russia deemed illegal. The company was also facing criticism for restricting access to some Russian media on YouTube. The country’s government had also imposed a fine of $113 million, or 7.2 billion ruble, on Google in December 2021 for not resolving the raised concerns. However, the Russian government has confirmed that it has no intention to not ban Google despite the issue. Interestingly, Google Russia has earned a revenue of RUB (rubles) 134.3 billions or $210 million 2022 , Interfax news agency's Spark database of Russian companies showed. It accounts for 1% of Alphabet Inc’s revenue. SEE ALSO <a href="https://www.businessinsider.in/business/news/heatwave-has-turned-acs-from-a-luxury-to-a-necessity-but-margins-remain-muted-for-the-players/articleshow/91655568.cms" data-type="tilCustomLink" style="">Heatwave has turned ACs from a luxury to a necessity — but margins remain muted for the players</a> <a href="https://www.businessinsider.in/stock-market/news/delhivery-ipo-heres-how-you-can-check-the-allotment-status/articleshow/91650014.cms" style="">Delhivery IPO: Here’s how you can check the allotment status</a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-vs-bharti-airtel-four-charts-to-showcase-how-indian-telecom-giants-faired-in-2022/slidelist/91640306.cms" data-type="tilCustomLink" style="">Reliance Jio Vs Bharti Airtel — Four Charts That Showcase How The Indian Telecom Giants Faired In 2022</a>

Google Russia has no money to pay salaries to its 100 employees, heads for bankruptcy

<ul><li>Shares of Keystone Realtors listed at ₹555 against the allotment price of ₹541 per share.</li><li>The IPO saw decent demand from investors amid volatile market conditions, and was subscribed 2.01 times.</li><li>The market capitalisation of the company stood at ₹6,320 crore.</li></ul>Shares of real estate company Keystone Realtors, which sells properties under the ‘Rustomjee’ brand, on Thursday listed on the bourses at ₹555 per share, a 2.6% premium to the issue price of ₹541. This is higher than the grey market expectation that <a href="https://www.businessinsider.in/stock-market/news/keystone-realtors-ipo-heres-how-you-can-check-the-allotment-status/articleshow/95631181.cms">predicted it to list at </a>a 1% premium. The grey market is the unofficial market where the IPO shares are traded before they are listed on the stock exchanges. Meanwhile, the stock market has been <a href="https://www.businessinsider.in/stock-market/news/tata-consumer-keystone-realtors-biocon-among-stocks-to-watch-out-for-on-november-24/articleshow/95729263.cms">trading slightly higher</a> in early trade as the Sensex rose by 145 points, and Nifty gained 38 points. The market capitalisation of Keystone Realtors stands at ₹6,320 crore, according to BSE data. The IPO saw decent demand from investors amidst volatile market conditions, being subscribed 2.01 times. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Category of investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscription status </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified institutional buyers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.84 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non institutional investors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.03 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.53 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Overall </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.01 times </td></tr></tbody></table> This year, 31 IPOs made their stock market debut on the BSE mainboard. Most of them gave positive listing gains, except eight issues. Here are the top five IPOs with highest listing gains in 2022. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Highest listing gains per share </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Harsha Engineers International </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹155.90 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dreamfolks Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹136.65 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aether Industries </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹134.75 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">DCX Systems </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹101.80 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Syrma SGS Technology </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹93.05 </td></tr></tbody></table>Source: BSE Keystone Realtors has raised ₹635 crore through the IPO – ₹560 crore of it through a fresh issue of shares and ₹75 crore through an offer for sale by promoters and existing shareholders. The company will utilise IPO proceeds towards debt repayment, funding acquisition of future real estate projects, and general corporate purposes. The company is in the business of real estate construction, development and other related activities in India. As of June 30, 2022, it had 12 ongoing projects and 21 forthcoming projects across the Mumbai Metropolitan Region (MMR), under affordable, mid and mass, and some premium categories. The total borrowings of the company increased to ₹1,557 crore in FY22 from ₹1,220 crore in FY21. The company added that the development of real estate projects involved significant expenses, a large part of it funded through financing from banks and other financial institutions. The company mentioned in its red herring prospectus that it may face issues in raising additional loans. “Moreover, certain of our loan documents contain provisions that may limit our ability to incur future debt, make certain payments or take certain actions,” it said. In FY22, the real estate company’s net profits slumped 41% from a year ago to ₹136 crore while revenue rose 50% to ₹1,269 crore. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue from operations </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,269 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹136 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹848 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹231 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,211 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹14 crore </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/fpis-pour-11452-crore-in-financial-services-in-the-first-half-of-november/articleshow/95681904.cms">FPIs pour ₹11,452 crore in financial services in the first half of November</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/india-projected-to-become-worlds-third-largest-economy-overtaking-japan-and-germany-sp/articleshow/95715786.cms">India projected to become world’s third largest economy overtaking Japan and Germany: S&amp;P</a>

Keystone Realtors lists at 2.6% premium, tops grey market estimates

<keyword id="205313" type="LOCATION" weightage="20" keywordseo="Kasganj">Kasganj</keyword> (<keyword id="6357713" type="COMPANY" weightage="20" keywordseo="Uttar-Pradesh">Uttar Pradesh</keyword>), A police constable was killed and an <keyword id="42808" type="COMPANY" weightage="20" keywordseo="Sub-inspector">Sub-Inspector</keyword> grievously wounded in assault by aides of a known liquor smuggler, late on Tuesday night. The deceased constable has been identified as Devendra while the SI has been identified as <keyword id="6363061" type="PERSON" weightage="20" keywordseo="ashok-kumar">Ashok Kumar</keyword>. Omkar Dhimar, brother of the accused Moti Dhimar, was killed in an encounter on Wednesday morning. The two policemen had reportedly gone to serve a legal notice for attachment of property to a history-sheeter named Moti over his alleged liquor smuggling activities when they were ambushed by his aides, stripped and assaulted with sticks and other weapons and taken hostage. A search operation was conducted and additional forces were called after the policemen, who had managed to flee from the site of the incident, informed the officials. The two police personnel were found with <keyword id="240509" type="PERSON" weightage="20" keywordseo="serious-injuries">serious injuries</keyword> in a field in Nagla Dhimar village under Sidhpura police station and were taken to a local hospital. However, Devendra succumbed to his injuries later during treatment. The police team has recovered Ashok Kumar's bike from the spot. Another unknown bike has also been found. The policeman's bike was found fallen on the ground with their uniform and shoes on top. It is believed that the attackers also humiliated the cops by stripping them and then assaulting them. According to ASP Aditya Verma, "A <keyword id="6375366" type="UNKNOWN" weightage="20" keywordseo="police-officer">police officer</keyword> and constable of Sidhpura police station went to Nagla Dhimar and Nagla Bhikari on information, where they were assaulted. The case is being thoroughly investigated." The <keyword id="5269" type="POSITION" weightage="20" keywordseo="Chief-Minister">Chief Minister</keyword>'s Office released a statement later in the night, that said Chief Minister <keyword id="43254" type="PERSON" weightage="20" keywordseo="Yogi-Adityanath">Yogi Adityanath</keyword> has called for strict action against those involved in the crime. "Action to be taken against the culprit under <keyword id="43697" type="ORGANIZATION" weightage="20" keywordseo="National-Security-Act">National Security Act</keyword>," it said. The Chief Minister has also directed officials to ensure proper treatment of the injured inspector and announced ex-gratia of Rs 50 lakh and government job for a family member of the constable who lost his life. Meanwhile, ADG Ajay Anand has reached Kasganj to stock of the situation. District Magistrate Chandra Prakash Singh said the Chief Minister is personally monitoring this case. "He has given orders to take strict action against the culprits." SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/indian-space-startup-agnikul-cosmos-has-become-the-worlds-first-company-to-successfully-test-a-fully-3d-printed-rocket-engine/articleshow/80762695.cms">Indian space startup fires world’s first fully 3D printed rocket engine as others play catch up</a> <a href="https://www.businessinsider.in/stock-market/news/brookfield-reit-ipo-allotment-heres-how-to-check-share-allotment-status/articleshow/80763971.cms">Brookfield REIT IPO allotment: Here’s how to check share allotment status</a> <a href="https://www.businessinsider.in/tech/news/twitter-ramps-up-roll-out-of-spaces-to-take-on-clubhouse/articleshow/80764144.cms">Twitter ramps up roll out of 'Spaces' to take on Clubhouse</a>

Police constable killed, Sub-Inspector wounded by liquor mafia in UP's Kasanj

<keyword id="6358777" type="LOCATION" weightage="20" keywordseo="New-Delhi">New Delhi</keyword>, The cases of rare black fungus infection linked with <keyword id="8763838" type="UNKNOWN" weightage="20" keywordseo="covid-19">Covid-19</keyword> have started to appear across the hospitals in the national capital after being higlighted by <keyword id="237993" type="ORGANIZATION" weightage="20" keywordseo="Ganga-Ram-Hospital">Ganga Ram hospital</keyword> a few days ago. However, doctors said this alarming affliction called Mucormycosis is rare but not new. What is new is the impact of Covid behind triggering this <keyword id="6226166" type="UNKNOWN" weightage="20" keywordseo="deadly-infection">deadly infection</keyword>. Max Superspeciality hospital in Delhi has reported as many as 24 cases amid the Covid pandemic as against four cases reported last year. Sanjay Sachdeva, Principal Director of ENT, Max hospital, told IANS that all these patients had Covid-19 while 20 of them lost their eyesight. "While we lost one patient, three were recovered without any incision," he added. Sachdeva observed that Covid is also somehow aggrieving the fungal infection. "Its aggressiveness has increased in the Covid times, as within two days of detection, people have started to lose their eyes, nose and other body parts," he said. Sonali Malhotra, Senior resident, ENT, at Centre-run Lady Hardinge Medical College (LHMC), told IANS that in the last one-and-a-half months, at least five cases have been reported in the hospital. Of them, three were Covid-linked. "Two were Covid positive at the time of its (Mucormycosis) detection while another one was reinfected with the Covid-19 infection," she said. Aparna Mahajan, Consultant ENT surgeon, Fortis Escorts Hospital at Faridabad, also informed that the hospital had reported four cases recently. As per doctors, Mucormycosis has been a cause of disease and death in transplants, ICU and Immunodeficient individuals since long, however, it is the rapid increase in numbers seen in unsuspected Covid patients which is matter of grave concern. Bhiya Ram, Assistant professor, ENT department, <keyword id="6365231" type="COMPANY" weightage="20" keywordseo="all-india-institute-of-medical-sciences">All India Institute of Medical Sciences</keyword> (AIIMS) Rishikesh, said Covid patients, who are already immunocompromised with the underlying condition, had faced severe Covid-19 and been on steroids, are at a greater risk of contracting Mucormycosis and fatality associated to it which ranges as high as 80 per cent. Of the ten patients Ganga Ram reported in December, lives of five patients could not be saved. "The frequency with which we are witnessing the occurrence of high morbidity and mortality in Covid-triggered Mucormycosis has never been seen before which is shocking and alarming," Manish Munjal, senior ENT surgeon, Ganga Ram hospital, told IANS. Uma Malliah, Senior Consultant, Ophthalmology, Indraprastha Apollo Hospitals, New Delhi, informed that three of the seven cases the hospital reported could not be saved. The doctors said early detection of Mucormycosis could save lives as well as control the infection spread. "Symptoms such as nose obstruction, swelling in the eye or cheeks and black dry crusts inside the nose should be reported immediately and anti-fungal therapy must be initiated as early as possible," Ram said. "Patients should immediately rush to their nearest ENT clinics for problems such as pressure in the eyes and numbness in the cheeks. The investigation of nose through endoscope can easily reveal the typical purple or black spots developing in the nose and if spotted, treatment should be started without any delay," Ram added. Malliah said the patients reported in Apollo hospital were largely diabetic. They were specifically severe in diabetes, renal failures and transplant, and have been on steroids for a very long time," she added. Sonali Malhotra said diabetes is the major common link found between the Mucor patients which makes them susceptible to Covid-19. "Since they already have underlying conditions, their chances of getting infected with Covid fare higher," she added. Another distinct property being reported in the Mucor patients is that the majority were elderly people. Malliah informed IANS that the patients reported to her hospital were majorly between 45 and 60 years. Sachdeva told IANS that his patients varied from 47 to 72 years. SEE ALSO: <a href="https://www.businessinsider.in/business/news/ikea-india-cfo-says-she-still-has-3500-crore-to-be-spent-in-india-the-pandemic-has-changed-targets-but-not-the-investment-plan/articleshow/79790938.cms">INTERVIEW: Ikea CFO says she still has ₹3,500 crore to be spent in India⁠— the pandemic has changed targets but not the investment plan</a> <a href="https://www.businessinsider.in/science/health/news/india-will-produce-300-million-doses-of-the-russian-sputnik-v-covid-19-vaccine-next-year/articleshow/79795341.cms">India will produce 300 million doses of the Russian Sputnik V COVID-19 vaccine next year</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-mrs-bectors-food-specialities-ipo-allotment-status-online/articleshow/79808672.cms">Mrs Bectors Food Specialities IPO allotment: Here’s how to check share allotment status</a>

Covid-19 cases linked 'black fungus infection' appears across Delhi hospitals

New Delhi, Nov 18 () Fortis Healthcare on Monday said it is exploring legal means with respect to the Supreme Court judgment that found the company guilty of contempt for violating the court's earlier order.
The healthcare firm said it is exploring legal means to address the case in an expeditious manner.
The SC on Friday held former Ranbaxy promoters Malvinder Singh and Shivinder Singh guilty of contempt of court for violating its earlier order, asking them not to divest their shares in Fortis Healthcare.
It has been advised that the open offer made by IHH Healthcare Berhad to the Fortis shareholders to acquire 26 per cent stake at Rs 170 per share continues to remain in abeyance and would be adjudicated upon in conjunction with the hearing of the contempt petition, Fortis Healthcare said in a BSE filing.
"The Hon'ble Court has issued a suo moto notice of contempt to Fortis Healthcare Ltd for violating the Court order dated December 14, 2018," it added.
The company is currently evaluating the judgement and exploring legal means to address it in an expeditious manner keeping in mind the best interest of all its stakeholders, Fortis Healthcare said.
"The Hon'ble Court has vide the notice sought an enquiry into consummation of the acquisition of healthcare assets from RHT Health Trust by the company," it added.
The court has also sought an enquiry into whether the subscription by IHH to the shares of the company was undertaken after the status quo order was issued on December 14, 2018 and accordingly, if such subscription was in violation of this status quo order, Fortis Healthcare said.
"The company would be appropriately responding to these concerns of the Hon'ble Court by providing cogent evidence," it added.
The company will take this occasion to present facts before the Court that demonstrate that no part of the proceeds from the IHH transaction were paid to Malvinder Mohan Singh, Shivinder Mohan Singh or any of their controlled entities in anyway, Fortis Healthcare said.
The company would also present before the Supreme Court that the IHH transaction was consummated on November 13, 2018 which was more than a month before the status quo order was passed and the same would be adduced before the court during the contempt proceedings, Fortis Healthcare said.
It would also present that the IHH transaction was done through fresh preferential allotment of shares of the company and and due approvals were sought for the same through an extraordinary general meeting of shareholders held on August 13, 2018, the firm said.
On the RHT transaction, which was consummated on January 15, 2019, Fortis said it was undertaken in the best interest of the company and at the time of consummation of the transaction, to the best of the its knowledge the erstwhile promoters or any of their controlled entities were not unit-holders in the RHT Health Trust," it added.
As a result of this transaction, Fortis bought back hospital properties worth around Rs 4,666 crore by acquiring securities in the RHT Trust's Indian entities that had ownership of these properties, the company said.
In an announcement to Bursa Malaysia, IHH Healthcare has also said that, it "remains committed to proceed with the Fortis Open Offer once the stay is lifted by the Supreme Court of India".
The next hearing date for this matter is February 3, 2020. IHH is seeking appropriate legal advice on this matter and will subsequently decide on the future course of action, it added. AKT AKT BAL
BAL

Exploring legal options to address contempt notice by SC: Fortis Healthcare

New Delhi, Feb 6 () Economists and financial experts have welcomed RBI's widely expected status quo on repo rate, and other announcements to spur economic growth and ensure money supplies effectively. The RBI on Thursday kept the key policy rate unchanged at 5.15 per cent. This follows a cumulative 135 basis points (bps) cut in repo rate since February to December 2019. The six-member Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das unanimously decided to keep the repo rate unchanged. Bank of India CMD A K Das termed the RBI policy quite progressive and forward looking. "Notwithstanding unchanged policy rates, introduction of Term Repo opens up ways to transmit the signal rate changes," he said. "Measures like DCCO extension for realty, MSME window expansion for restructuring and CRR exemption for incremental funding to key segments are growth oriented and promise to provide the much needed impetus to bank lending," Das said. According to Rajni Thakur, Economist, RBL Bank, MPC's decision was on expected lines. "The changes in development and regulatory policies however were a positive surprise and could potentially turn out to be a big support to the troubled sectors in the economy," Thakur said. Specific announcements in terms of CRR relief or long-term durable liquidity for banks push the overall credit availability in the financial system. Whether these steps manage to improve demand conditions is another question all together, she added. The RBI has announced term repurchase agreements (repos) of one-year and three-year tenors of appropriate sizes for a total amount of Rs 1 lakh crore at the policy repo rate, from the fortnight beginning February 15. "It is an effort to ensure better monetary policy transmission. It will enable banks to reduce their lending rates," RBI Governor Das told reporters in the post policy conference. Upasna Bhardwaj, Economist, Kotak Mahindra Bank said very aptly, MPC has addressed the growth concerns through pushing transmission via tweaking the liquidity framework, providing long term liquidity operations and incentivising credit to select sectors. "We expect these measures to aid transmission with the shorter end of the yield curve expected to rally meaningfully. These measures should help availability of funds at lower costs and aid sectors in stress," Bhardwaj said. ICRA Economist Aditi Nayar said: "The tone of the MPC's statement was rather dovish, especially given the reiteration that policy space is available for future action. "The accommodative stance will be maintained for as long as necessary to revive growth, in spite of the headline inflation having breached the upper threshold of the MPC's medium term target." The RBI also raised upwards the retail inflation projection for last quarter of this fiscal to 6.5 per cent citing high input cost for milk and pulses besides costlier crude oil prices amid rising geo-political tensions. Nayar said the statement suggests the near certainty of at least one additional rate cut, even if its magnitude is modest, the timing of which will depend on how quickly inflation appears to be reverting towards 4 per cent. Umesh Revankar, MD and CEO - Shriram Transport Finance said the attention-grabbing aspect of the policy is marginal improvement in IIP, manufacturing index (PMI) and service index. These numbers depict beginning of increasing activity though still under wait and watch radar to bring in any further excitement, he said. "We believe that all the policy decisions along with pro-consumption budget corroborates that there would be better demand from the consumption side. Once that increases, automatically there will be better credit demand," Revankar said. The expansionary monetary policy stance was necessary and is an assurance that there will be no reversal of easing and that the RBI will not hike rates immediately, opined Rumki Majumdar, Economist, Deloitte India. Engineering Exports and Promotion Council (EEPC) Chairman Ravi Sehgal said RBI measures to provide one-time restructuring window for advances to MSMEs would help growth revival in the employment-oriented sectors. MSMEs contribute significantly to the country's exports. "With global markets being subdued, exporters, particularly those in the SMEs are facing challenges. The RBI measures through loan restructuring and providing CRR incentives to the banks to lend to MSMEs would certainly help the exporting sector," he said. Ample liquidity with the banks should lead to lowering of interest rates as part of effective transmission of earlier reductions, he added.Anarock Property Consultants Chairman Anuj Puri said the extension for restructuring of project loans by a year is a major relief to the real estate sector. It complements many of the previous initiatives by the government in 2019. "Loans for projects that have been delayed for reasons beyond the control of their promoters have been extended by another one year without downgrading the asset classification. This is a big move and will bring the much-needed relief to the cash-starved real estate sector - and to both developers and HFCs from the liquidity perspective," Puri said. KPM KPM ANUANU

Experts hail RBI measures to boost economy, improve money supply

While President of India’s residence, the sprawling Rashtrapati Bhawan, beats all residences, what about Congress President Sonia Gandhi and PM Narendra Modi’s residences? 
 
An RTI has revealed that Gandhi’s residence is bigger than that of Modi’s. 
 
While, Gandhi’s 10 Janpath residence is spread over 15,181 sq m, Modi’s 7RCR official residence is smaller at 14,101 sq m. 
 
However, Modi stays in the official residence while Gandhi's home is allotted to her, irrespective of her status as MP. 
 Meanwhile, <keyword id="47718" type="ORGANIZATION" weightage="20" keywordseo="Rashtrapati-Bhavan">Rashtrapati Bhavan</keyword> is spread over 320 acres and is one of the largest properties for a head of state anywhere in the world. 
 
(Image: Indiatimes)

Who stays in a bigger house? Sonia Gandhi or PM Modi? Find out

<div class="KonaFilter image-container display-table"><div><div class="image on-image">REUTERS/Leah MillisFacebook CEO Mark Zuckerberg</div></div></div><ul class="summary-list"><li>Some of <a href="https://www.businessinsider.com/category/facebook">Facebook's</a> content moderators are in revolt over new 'Big Brother'-style rules.</li><li>In an open letter to Facebook employees, moderators from Austin, Texas complained about draconian working conditions that are eroding trust in the company.</li><li>The letter highlights the gulf in working conditions between Facebook's well-compensated, full-time employees and its legions of contractor content moderators.</li><li>Workers are unable to use their phones, leave the property during breaks, have visitors, or talk to family members about their work, the letter says.</li><li>Business Insider is republishing the letter in full below.</li></ul><a href="https://www.businessinsider.com/category/facebook">Facebook</a> content moderators have complained about draconian rules at one of Facebook's contractor's facilities - sparking outrage from Facebook employees over the "inhumane" conditions.At a facility run by <a href="https://www.businessinsider.com/category/accenture">Accenture</a> in Austin, Texas, moderators responsible for helping keep the social network clear of graphic violence, hate speech, and images of child abuse have had onerous new restrictions placed on them, they say - creating a "Big Brother environment" that is eroding their "sense of humanity" and damaging trust between them and the company.These rules include being unable to leave the property during breaks; being banned from freely using their phones, even in emergencies; and restrictions being placed on when they can take "wellness" breaks; in addition to being unable to speak to family members about their work, according to an open letter from the contract workers that was shared on Facebook's internal forum Workplace and seen by Business Insider."Despite our pride in our work, Content Moderators have a secondary status in th hierarchy of the workplace ... This secondary status is reinforced by directives that strictly manage our personal movements, and are in direct opposition to Facebook's stated values. We feel it is necessary to shed light on the polices that are negatively impacting our persona autonomy," the post says."We hope by publishing this letter internally, we can restore our sense of humanity and dignity in the workplace."The complaint starkly illustrates the gulf in working conditions that exists at Facebook across its workforce. Its full-time employees are legendarily well-treated, with a median company salary of more than $240,000 and <a href="https://www.businessinsider.com/facebook-employee-perks-benefits-2017-11">a lavish array of perks</a> - from bike repair and arcade games to egg-freezing. But the company also utilizes legions of contractors through outsourcing firms, who don't qualify as Facebook employees or receive the same benefits, and are often tasked with the brutal and thankless tasks that keep the social network running safely.The second-class nature of some Facebook employees is particularly striking when it comes to the content moderators that top executives, including CEO Mark Zuckerberg, have trumpeted as being critical assets in the company's efforts to keep the site a safe and popular online destination.For the legions of content moderators employed by Facebook, as well as other social networks, the complaint offers an unfiltered window into what <a href="https://www.wsj.com/articles/the-worst-job-in-technology-staring-at-human-depravity-to-keep-it-off-facebook-1514398398">the Wall Street Journal once described as</a> "the worst job in technology," a role that entails non-stop viewing and deleting of disturbing, often gory, videos and photos uploaded by users. A Facebook spokesperson could not immediately comment. Accenture did not respond to a request for comment. <h2>The 'big brother environment' is eroding worker trust</h2>The letter lists a host of grievances from the moderators, who are technically employed as "contingent" workers, at the Austin facility. Many of the grievances revolve around break periods.Moderators are no longer allowed to leave the property during legally mandated breaks or during their"Wellness" breaks - additional break time given to workers in which they can they can take downtime or speak to company-provided "Wellness Coaches." "CMs are not allowed to enjoy a simple walk around the block on which the building is located," the letter reads.Workers are also now forced to use their break periods if they need to communicate with someone who isn't currently in their office, rather than being able to do it during regular working time: "Asking employees to go into their break time to resolve even minor issues takes away from the principal function of break time. This is especially acute for people who work on teams that deal with graphic and disturbing content, folks who need their break time to be exactly that."Additional rules have also been placed on when exactly in the day breaks can be taken.Another area of concern is around workers' phones.Moderators have been told they will no longer be able to use their phones freely in the office apart from during lunch and break periods, and cannot book rooms to take calls, "even when the room is empty and the phone call is a family emergency." And the new rule will be strictly enforced: "Accenture staff informed CMs that Accenture Operations will be surveying the floor on an hourly basis to enforce this new directive. "This comes on top of an NDA agreement that forbids workers from talking to family members about their work, and rules against bringing guests to the office, even family. (Regular Facebook employees in other offices are free to invite guests to visit.)"We take pride in our work within Community Operations, and we take pride in protecting our client's platform from bad actors. But that pride shrinks as this enforcement erodes the trust between the workforce and management. It is difficult to perform in an environment that is marked by an unreasonable increase in monitoring from the top down," the letter says."Furthermore, enforcing such restriction ignores that workers are people. One cannot reasonably expect workers to not only sign an NDA that forbids us from venting to our loved ones about our work day, but also insulate ourselves from the outside world and its circumstances for 90 percent of the day."The Content Moderator teams within Community Operations are diverse; composed of people of all walks of life, our team members have varying familial obligations and needs. The Big Brother environment created by this change makes it difficult for people to quickly resolve matters that need immediate yet short term attention out of fear that they may be reprimanded by peers and managers alike."It's not clear if the same rules also apply to other content moderation offices run by Accenture.<h2>'This is inhumane'</h2>Big tech companies often use contract workers to cheaply and quickly expand their workforce for specific projects, but the second-class status of these workers has become an increasingly hot-button issue in Silicon Valley in recent years. <a href="https://www.theguardian.com/technology/2018/dec/20/facebook-contractors-filter-digital-labor-dispute-christmas">The Guardian reported in December 2018 how Facebook contract workers pushing for better conditions </a>were given an ultimatum to accept an offer or lose their jobs on the eve of Christmas (after the report was published, Facebook backed down). And <a href="https://www.businessinsider.com/google-temp-contractors-lost-access-internal-chat-groups-2019-1">Google has also faced scrutiny </a>over its treatment of its contract, vendor, and temporary workers (also known as TVCs).Some Facebook employees appeared shocked and horrified that content moderators associated with the social network were apparently being treated in such a way."Content Moderators are the people literally holding this platform together. They are ones keeping the platform safe. They are the people Zuck keeps mentioning publicly when we talk about hiring thousands of people to protect the platform. This is incredibly disappointing," a product design engineer wrote on Facebook's internal Workplace chat room. "I worry this is trending towards how Amazon treats warehouse workers (many of whom are actually contingent)," a product manager replied.A software engineer wrote: "This is inhumane.""This makes me feel so friggin bad," added a project manager.Facebook has told employees it is looking into the matter. Global operations exec John DeVine replied to the post, saying: "I want to thank you for this post and just acknowledge we are looking into this situation. We work closely with Accenture on our relationship with our employees, about whom we care very much. Their resiliency and well being is in the greatest interest of Facebook and our community."Do you work at Facebook? Got a tip? Contact this reporter via Signal or WhatsApp at +1 (650) 636-6268 using a non-work phone, email at rprice@businessinsider.com, Telegram or WeChat at robaeprice, or Twitter DM at <a href="https://twitter.com/robaeprice">@robaeprice</a>. (PR pitches by email only, please.) You can also <a href="https://www.businessinsider.com/how-to-tip-business-insider-securely-guide-signal-securedrop-2017-6">contact Business Insider securely via SecureDrop</a>.<h2>Here's the full memo:</h2>This is a message from contingent workers (CWs) in Community Operations. Our work involves Content Moderation (CM). We are employed by Accenture Flex, which is in turn operated by Accenture. Due to the sensitive nature of our work, every one of us has signed a non-disclosure agreement that forbids telling even the people closest to us what we do for work.This NDA also forbids us from bringing guests to work, regardless of the guest's relationship to the employee (eg no one is allowed to bring their child to Café Aztlán for an afternoon visit) and the nature of the visit. Community Operations CWs are expected to maintain a 98% accuracy score in their work of making decisions that affect the overall health of the community on the client's platform, and work across three shifts (Day, Swing, and Overnight). We take great pride in our work for the client.Recently, Accenture has placed restrictions of how CMs must use our breaks and Wellness*. The restrictions placed on Wellness include that Wellness must not be taken within the first or last hour of the shift, and CMs are forbidden from leaving the property while on wellness or legally mandated break time. CMs are now allowed to enjoy a simple walk around the block on which the building is located. CMs are only allowed to leave the building during their unpaid 30-minute lunch.Additionally, Accenture Community Operations management announced that CMs at ATX 1601 are unable to use their phones unless they are on break or lunch, which are monitored through both SRT and an Accenture internal system. Accenture staff informed CMs that Accenture Operations will be surveying the floor on an hourly basis to enforce this new directive. This announcement comes with the caveat that CWs may use their phones in "common areas," which have been defined as the micro kitchen and the security desk lobby; Accenture communicated that couches or chains near meeting rooms are not common areas. We are not allowed to book rooms for phone conversations, even when the room is empty and the phone call is a family emergency.The imperative to achieve and exceed high metrics, combined with the fast-paced decision making and tight turnaround time expected, and the disturbing nature of the automatic work deliver CMs are exposed to can cause even the most strong-minded a person to step away and take time for self-care. This is especially common for teams that deal with sensitive content such as Graphic Violence.While the restrictions were conveyed, the reasoning for this sudden clampdown was not communicated to CMs. We take pride in our work within Community Operations, and we take pride in protecting our client's platform from bad actors. But that pride shrinks as this enforcement erodes the trust between the workforce and management. It is difficult to perform in an environment that is marked by an unreasonable increase in monitoring from the top down.Furthermore, enforcing such restriction ignores that workers are people. One cannot reasonably expect workers to not only sign an NDA that forbids us from venting to our loved ones about our work day, but also insulate ourselves from the outside world and its circumstances for 90 percent of the day.The Content Moderator teams within Community Operations are diverse; composed of people of all walks of life, our team members have varying familial obligations and needs. The Big Brother environment created by this change makes it difficult for people to quickly resolve matters that need immediate yet short term attention out of fear that they may be reprimanded by peers and managed alike.Lastly, it is taxing to communicate needs that need to be dealt with during regular operating hours, given that the majority of CMs generally work similar hours when compared to most businesses (8:00am - 4:30pm). For example, if a person needs to quickly communicate with anyone not currently in their office, they would have to go into their break time to do so, instead of being able to communicate from their desk and continue working. Asking employees to go into their break time to resolve even minor issues takes away from the principal function of break time. This is especially acute for people who work on teams that deal with graphic and disturbing content, folks who need their break time to be exactly that.Despite our pride in our work, Content Moderators have a secondary status in th hierarchy of the workplace, both within the Facebook and the Accenture structure. This secondary status is reinforced by directives that strictly manage our personal movements, and are in direct opposition to Facebook's stated values. We feel it is necessary to shed light on the polices that are negatively impacting our persona autonomy. We hope by publishing this letter internally, we can restore our sense of humanity and dignity in the workplace.* What is "Wellness"? The CMs work across a plethora of projects that expose moderators to written and visual content such as Revenge Porn, Inappropriate Interactions with Children (IIC), Hate Speech, Child Exploitation Imagery, Election Integrity, and Graphic Violence. Wellness allows moderators to disconnect from their work as needed, and meet with Wellness Coaches that are staffed by Accenture. Wellness time allotted varies from project to project: typically each team member is given 45 minutes of Wellness per week. CMs who work within Safety (comprising of CEI and Inappropriate Interactions with Children) are given two hours each shift. <a href="https://www.businessinsider.com/intelligence/stories-slide-deck?IR=T&amp;utm_source=businessinsider&amp;utm_medium=ctgr&amp;utm_term=ctgr_leadgen&amp;utm_content=dmedia_ctgr_leadgen&amp;utm_campaign=dmedia_ctgr_leadgen_stories_deck"></a> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/apple-macbook-air-laptop-microsoft-surface-go-tablet-review-2019-1">We compared the $1,200 MacBook Air with the $500 Surface Go, and the results were a mess</a></h3> <div> </div> </div>

Facebook moderators are in revolt over 'Big Brother'-style working conditions

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Chris Jackson - WPA Pool/Getty ImagesPrince Harry's net worth is 8-figures.</div></div></div><ul><li>Prince Harry's net worth is at least $25 million, which is made up of inheritance from Princess Diana and an annual allowance from Prince Charles.</li><li>After the <a href="http://www.businessinsider.com/category/royal-wedding-2018" target="_blank" rel="noopener">royal wedding</a>, Meghan Markle and Prince Harry will merge their finances and forego a <a href="http://www.businessinsider.com/prince-harry-meghan-markle-prenup-2018-3" target="_blank" rel="noopener">prenuptial agreement</a></li><li>Together, Meghan Markle and Prince Harry will have a <a href="http://www.businessinsider.com/category/net-worth" target="_blank" rel="noopener">net worth</a> of at least $30 million.</li></ul> <a href="http://www.businessinsider.com/category/meghan-markle" target="_blank" rel="noopener">Megan Markle</a> will be marrying into class, status, and major wealth in less than a month when she ties the royal knot with <a href="http://www.businessinsider.com/category/prince-harry" target="_blank" rel="noopener">Prince Harry</a>.Before she moved across the pond, Markle <a href="http://www.townandcountrymag.com/society/money-and-power/a13085480/meghan-markle-net-worth/">was earning close to half a million dollars a year</a> starring in the USA Network drama "Suits," plus <a href="http://www.businessinsider.com/prince-harry-fiancee-meghan-markle-surprisingly-normal-life-2018-1">a five-figure income</a> from endorsement deals and sponsorships. Her total net worth is estimated to be $5 million.That's a sizable contribution to bring into any marriage, but when she marries Prince Harry, their combined net worth will be more than five times that. Prince Harry's net worth is at least $25 million (£18 million) and as much as $40 million (£28.7 million), <a href="http://time.com/money/5159858/prince-harry-meghan-markle-net-worth/">according to estimates</a> from Wealth-X.Here's where all that money comes from.Along with <a href="http://www.businessinsider.com/category/prince-william" target="_blank" rel="noopener">Prince William</a> and <a href="http://www.businessinsider.com/category/kate-middleton" target="_blank" rel="noopener">Kate Middleton</a>, Harry receives <a href="http://www.businessinsider.com/prince-william-kate-middleton-royal-allowance-2015-7">an annual seven-figure allowance</a> from his father and heir to the throne, Prince Charles, which is used to cover expenses like travel and wardrobe. Between April 2016 and March 2017, the Duke and Duchess of Cambridge and Harry split nearly $5 million (£3.5 million) in allowance from their father, according to an <a href="http://annualreview.princeofwales.gov.uk/accounts/income-expenditure-staff-2016-17-extended/" target="_blank" rel="noopener">annual review</a> released by Clarence House.Prince Charles derives that money, in part, from a private estate called the Duchy of Cornwall, which has funded the royal family's public and private lives for nearly 700 years. The estate provided a total of $28.8 million (£20.7 million), including Harry and William's allowance, to Prince Charles and his wife Camilla between between 2016 and 2017.<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://www.gettyimages.com/license/898513992">Chris Jackson/Getty</a></div></div></div>Since age 21, Harry and William have also been <a href="http://www.businessinsider.com/how-much-the-royal-family-is-actually-worth-2017-8?r=UK&amp;IR=T/">receiving a $450,000 a year investment profit</a> from Princess Diana's estate, which they pay taxes on to the UK government. They received a sizeable inheritance from their late mother <a href="https://www.forbes.com/sites/luisakroll/2011/04/22/just-how-rich-is-queen-elizabeth-and-her-family/2/#3f1110c162b3">estimated to be around $10 million each</a>, which each prince gained access to on his 30th birthday. Plus, during his 10 years in the British Royal Air Force, Harry earned an annual income of <a href="https://www.forbes.com/forbes/welcome/?toURL=https://www.forbes.com/sites/luisakroll/2011/04/22/just-how-rich-is-queen-elizabeth-and-her-family/2/&amp;refURL=&amp;referrer=#4967601962b3">$50,000</a>.Despite a massive fortune, Markle and Harry reportedly will not sign a prenuptial agreement before their wedding, <a href="http://www.businessinsider.com/prince-harry-meghan-markle-prenup-2018-3">reported</a> Business Insider's Shana Lebowtiz.A prenup is a smart choice for most couples who have sizable assets they want to protect in the event of a divorce, but for Harry - and William, who chose to forgo a prenup with Middleton - it doesn't make much sense. The princes likely don't have much property of their own, as the most valuable national treasures like the Crown Jewels or the Tower of London are part of the <a href="http://www.businessinsider.com/british-royal-family-richest-people-2017-11" target="_blank" rel="noopener">royal collection held by the Queen</a>.Still, the merging of Harry and Markle's finances could "cause tax headaches" and create some "mundane hurdles" for the royal family, as <a href="https://www.washingtonpost.com/news/worldviews/wp/2017/11/28/meghan-markles-u-s-citizenship-could-cause-tax-headaches-for-british-royal-family/?utm_term=.6f1a8622afde">The Washington Post first reported</a> in November.Markle is a citizen of the US and is purportedly living in the UK on <a href="https://www.gov.uk/uk-family-visa">a family visa</a>, <a href="http://www.bbc.com/news/uk-42169602">according to the BBC</a>. If she eventually becomes a dual US-UK citizen, Markle will have to continue filing her taxes each year with the IRS. If she has more than $300,000 in assets at any point during the year, she will have to file <a href="https://www.irs.gov/forms-pubs/form-8938-statement-of-foreign-financial-assets">a specific form that details foreign assets</a>, which could include foreign trusts, subjecting the royal family "to outside scrutiny," according to the Post. But ultimately there are a lot of factors that come into play.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Eddie Mulholland/AP</div></div></div>"The key for Meghan and her advisors would be to figure out what type of income she will be getting," Avani Ramnani, director of financial planning and wealth management at <a href="http://francisfinancial.com/">Francis Financial</a>, told Business Insider. "Will this income be from the investments of a trust, or 'wages' for any work that she does, or any other type of income? Sometimes, getting one form of income is more advantageous than another."Kensington Palace will cover the cost of the wedding - aside from Markle's dress - which is <a href="http://www.businessinsider.com/royal-wedding-cost-meghan-markle-prince-harry-2018-4">expected to cost</a> the royal family upwards of $45 million (£32 million), most of which is allotted for security.That won't be a huge cost burden for Queen Elizabeth, who is of course the wealthiest member of the royal family with an estimated net worth of $530 million as of 2016, <a href="https://www.forbes.com/sites/denizcam/2016/04/18/as-queen-elizabeth-ii-turns-90-a-look-into-her-fortune-and-multi-billion-dollar-lifestyle/#8adf7c241887" target="_blank" rel="noopener">according to Forbes</a>. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/prince-harry-king-invictus-games-primary-school-2016-4">Prince Harry gave a brilliant response to a 9-year-old who asked him if he'll ever be king</a></h3> <div> </div> </div>

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