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Time of India
28-05-2025
- Business
- Time of India
Bengaluru sees uptick in Rs 50 cr+ home deals
Bengaluru's ultra-luxury housing market is scaling new highs—witnessing a raft of Rs50-crore deals—so far mostly limited to Mumbai and Delhi. Historically, high-end residential transactions in Bengaluru typically ranged around Rs 30-40 crore, but current activity reflects a shift toward significantly higher price points of Rs 40-60 crore—underscoring accelerated momentum in the city's top-end housing segment. India's technology capital saw several large residential deals above Rs 45 crore getting registered between last December and this month, according to Zapkey, a real estate data and analytics platform. Eight deals with a total value of Rs 415 crore have been recorded since January, compared to four worth Rs 175 crore in the same period in 2024. The data indicates a more than twofold surge in both deal count and investment value in the Rs 40-60 crore price range. Transactions include two apartments in a prestigious tower in Ashok Nagar, a private mansion in Sadashivanagar, and a high-end villa in Sampangiram Nagar. Each of these deals exceeded Rs 50 crore. 'The Bangalore clientele is discerning, global in outlook, and increasingly willing to invest in properties that reflect status, privacy, and exclusivity,' said Sandeep Reddy, cofounder Zapkey. One of the most high-profile deals was the Rs 50 crore purchase of a luxury apartment— kingfisher Towers by Infosys founder Narayana Murthy last December. A second apartment in the same project was bought shortly after by a real estate investment firm for Rs 45.35 crore. In January, Seema Ravanan, wife of Rostow Ravanan, chairman of AI firm Alfahive, bought an independent house in Sadashivanagar for Rs 57.6 crore from the Kalappa family. Around the same time, the Suvarna Family Trust picked up a property in Jayanagar for Rs 45.78 crore. Most recently, earlier this month, Paresh Shantilal Raja, CEO of Market Financials, bought a villa in the Sadashivanagar enclave for Rs 54.39 crore. 'The buyers are no longer just looking for large homes — they are looking for smart addresses,' said Vijay Chugani, founder, ZenXChugs, a Bengaluru-based luxury property broker. Several of these deals are happening off-market, brokers say, with limited public visibility. While developers are curating new luxury products, resale inventory — especially in heritage zones like Sadashivanagar, Indiranagar, and Koramangala — is commanding a significant premium. 'In some cases, they are ready to wait a year or two for the right product. In many ways, Bangalore is becoming what South Mumbai was two decades ago,' said Rajesh Sadhwani, joint MD, Sadhwani Real Estate Holdings, a real estate brokerage. Experts say that demand intensifies, industry insiders expect a continued rise in big-ticket residential sales in the Rs 40–Rs 75 crore band, driven by NRI investors, family offices, and promoter groups reshoring wealth back into Indian assets. India's ultra-rich population is expanding faster than ever. According to the latest Knight Frank Wealth Report 2025, the number of UHNIs (net worth above $30 million) in India grew by 12.4% in 2024, outpacing the global average. Bangalore alone is home to over 250 UHNIs, a number expected to cross 320 by 2027. The same report highlights that India added 1,200 new millionaires every week in 2024, many of whom are technology entrepreneurs, second-generation business families, and global professionals returning to India.
The Irish Sun
14-05-2025
- The Irish Sun
Mysterious European country of San Marino – tiny landlocked nation you've never heard of that's competing in Eurovision
OF ALL the countries in the world, San Marino is the fifth smallest but has a lot to boast about. Completely landlocked and surrounded by Italy, San Marino is the world's oldest surviving sovereign state. 7 Much of San Marino boasts amazing views of the surrounding landscape Credit: Alamy 7 The Old town features lots of cobbled paths and pretty buildings Credit: Alamy 7 It is very easy to walk around the city Credit: Alamy It is close to the Despite only being 24-square-miles, the capital - Città di San Marino - is home to a wealth of history and views, due to being located 739 metres above sea level. Located in the city, travellers will find Monte Titano - one of the nine Castelli which make up San Marino. As if ripped out of a storybook, Monte Titano features an extravagant tower with has Italy . Read more on Italy On Monte Titano, visitors will find the most famous spot in San Marino - the Cesta tower. Cesta is part of the Three Towers in the Old Town, which is pedestrian so involves walking along narrow cobbled streets. The Three Towers - also known as Guaita, Cesta and Montale - are located at the very top of Monte Titano. The towers are depicted on Most read in News Travel The first tower - Guaita - is the oldest of the three. It was constructed in the 11th century and served briefly as a prison . I visited the tiny island that is Italy's best kept secret and you can avoid the summer crowds The second tower - Cesta - is a museum to honour Saint Marinus and showcases over 1,550 weapons dating from the Medieval era to the modern day. The third tower - Montale - is located on the smallest of Monte Titano's summits. However, unlike the others, it is not open to the public. Between the first and second tower, there is the Witches Path - a cobblestone walkway which leads directly up to the Guaita Tower. Tickets to enter both the Guaita and Cesta Towers costs €9 (£7.58) per person or a combined ticket, which includes both towers and several museums in San Marino, costs €11 (£9.26). One recent visitor said: "The Old Town of San Marino is really nice, spotless, tidy and although full of shops of all kinds it doesn't give you the feeling of being in an outdoor shopping mall at all. "Nice buildings, nice alleys and toilets everywhere." Getting to San Marino is not the easiest though. 7 The small country benefits from sunny, warm weather Credit: Alamy 7 Travelling to San Marino via bus is relatively cheap Credit: Alamy 7 There are multiple museums across San Marino Credit: Alamy The small country has no The closest major international airport is in Most travellers will head to San Marino via the Bonelli Bus, which travels from Rimini - it takes just under an hour and costs €6 (£5.05) each way. San Marino also has no border control, but you will still need a valid passport to visit and the same entry requirements apply in San Marino as in One thing worth noting, if you do plan to visit San Marino, is that there are a lot of steps , narrow paths and cobblestones - so it is not the most accessible place to visit and you will definitely need a comfortable pair of walking shoes. The hottest month to visit is July, where temperatures can reach up to 25C. Nearby, in Italy, there is an Plus, 7 The Three Towers are a popular spot to explore Credit: Alamy
Yahoo
02-04-2025
- General
- Yahoo
Opinion - AI can predict when an earthquake might strike — here's how
During the devastating earthquake that struck Myanmar and Thailand this weekend, horrified viewers around the world watched a 30-story Bangkok high-rise collapse in a scene reminiscent of the New York twin Towers on 9/11. The 7.7 magnitude tremor has killed more than 2,700 and caused widespread destruction in the region. The event was an unfortunate reminder of the extreme perils of seismic activity on the planet. In just the past five years, the earth has experienced 59 earthquakes of 7.0 magnitude or greater, causing over 70,000 fatalities. Even more astonishing are the 'big ones,' such as the 2004 Indian Ocean earthquake, with over 227,000 fatalities, or the 2011 Tohoku earthquake and tsunami, which was the world's costliest natural disaster, resulting in approximately $360 billion in property damage, as well as the ever-present environment contamination from the damaged Fukushima nuclear plant. These statistics are a cause for grave concern in the Pacific Northwest of the United States, where scientists predict that there is a 37 percent chance that a megathrust earthquake of 7.1 magnitude or greater will occur in the next 50 years. Such a natural disaster would cause extensive damage throughout the region, crippling infrastructure and causing citizens to live without access to fully functioning roads, water, electricity and sewage for many weeks. The last major quake in the region's Cascadia Subduction Zone occurred in 1700, with an approximate magnitude of 9.0. The estimated likelihood of another event of that magnitude over the next 50 years is about 15 percent. While seemingly small, the impact would be enormous, with 1,100 earthquake fatalities anticipated, as well as 13,000 tsunami deaths and 24,000 individuals injured. The U.S. Geologic Survey (USGS) insists that earthquake forecasting is not possible. Thus, the agency only calculates the probability that a significant earthquake will occur, depicted in a hazard map for a specific area within a certain number of years. Such maps are only useful for long-term planning, however, so for early warning, USGS uses the ShakeAlert system. Though ShakeAlert does not provide actionable earthquake data, it is able to provide a few seconds of advance notice of destructive activity in regions 20 miles away from the epicenter, by taking advantage of the fact that the damaging 'S' waves of a seismic event are slower than the preceding 'P' waves. Countries with limited resources provide tangible examples of what a lack of earthquake data can do. Imagine if an early warning capability existed in Myanmar or Thailand, or in Haiti, where the death toll of its catastrophic 2010 earthquakes was estimated at 300,000. Incredibly, one does exist, yet the USGS refuses to consider it. Over a decade ago, scientists from NASA discovered that before earthquakes occur, sections of the earth's crust near faults begin to behave like semiconductors, generating electricity proportional to the amount of stress near the faults. This changes the electric and magnetic fields of the earth's surface, subsurface, atmosphere and ionosphere. Scientists in the U.S., Europe and around the world have verified the theory, and have published considerable peer-reviewed research papers and articles on the subject. One private company has applied artificial intelligence (AI) to the problem, achieving stunning results for four earthquakes exceeding 7.0 magnitude in 2024. Through AI-enabled ionospheric nowcasting, also known as space weather monitoring, earthquakes in Noto, Japan; Hualien, Taiwan, offshore of Noto; and offshore of Cape Mendicino,Calif., were predicted between three to four days in advance. President Trump has promised to make the federal government more efficient and effective, and there is no organization more in need than the USGS. Rather than reacting to dangerous seismic activity, the agency can be proactive by partnering with the sector to do a better job helping Americans prepare for earthquake hazards. Fortunately, with the Trump administration's foresight on the importance of AI science and technology, there is an immediate avenue of approach. The administration is developing an AI action plan to define the priority policy actions needed to sustain and enhance America's AI dominance. Including a public-private partnership to equip the USGS with a lifesaving earthquake forecasting capability should be a key component of the plan. With several days of advance notice before a large magnitude seismic event, emergency managers could pre-stage critical resources for immediate response, and the public could both prepare and be less inclined to panic. To date, Trump's Department of Government Efficiency appears to be doing more harm than good with across-the-board firing of the federal workforce. This is a self-defeating approach that unintentionally impedes the administration's stated priorities of national security, economic prosperity and public safety. The right way to get our government to do a better job is to directly target areas in which improvement is needed and leverage science and technology where demonstrable private sector innovations can meaningfully contribute to those priorities. Clearly, AI-enabled earthquake forecasting is a case in point that needs to be in Trump's AI action plan, now. Rear Adm. (ret.) Tim Gallaudet, Ph.D., is a former acting and deputy administrator of the National Oceanic and Atmospheric Administration (NOAA), acting undersecretary and Assistant Secretary of Commerce, and oceanographer of the Navy. As the CEO of Ocean STL Consulting, LLC, he is a strategic adviser for the space weather nowcasting and earthquake prediction company precursor SPC. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
The Hill
02-04-2025
- General
- The Hill
AI can predict when an earthquake might strike — here's how
During the devastating earthquake that struck Myanmar and Thailand this weekend, horrified viewers around the world watched a 30-story Bangkok high-rise collapse in a scene reminiscent of the New York twin Towers on 9/11. The 7.7 magnitude tremor has killed more than 2,700 and caused widespread destruction in the region. The event was an unfortunate reminder of the extreme perils of seismic activity on the planet. In just the past five years, the earth has experienced 59 earthquakes of 7.0 magnitude or greater, causing over 70,000 fatalities. Even more astonishing are the 'big ones,' such as the 2004 Indian Ocean earthquake, with over 227,000 fatalities, or the 2011 Tohoku earthquake and tsunami, which was the world's costliest natural disaster, resulting in approximately $360 billion in property damage, as well as the ever-present environment contamination from the damaged Fukushima nuclear plant. These statistics are a cause for grave concern in the Pacific Northwest of the United States, where scientists predict that there is a 37 percent chance that a megathrust earthquake of 7.1 magnitude or greater will occur in the next 50 years. Such a natural disaster would cause extensive damage throughout the region, crippling infrastructure and causing citizens to live without access to fully functioning roads, water, electricity and sewage for many weeks. The last major quake in the region's Cascadia Subduction Zone occurred in 1700, with an approximate magnitude of 9.0. The estimated likelihood of another event of that magnitude over the next 50 years is about 15 percent. While seemingly small, the impact would be enormous, with 1,100 earthquake fatalities anticipated, as well as 13,000 tsunami deaths and 24,000 individuals injured. The U.S. Geologic Survey (USGS) insists that earthquake forecasting is not possible. Thus, the agency only calculates the probability that a significant earthquake will occur, depicted in a hazard map for a specific area within a certain number of years. Such maps are only useful for long-term planning, however, so for early warning, USGS uses the ShakeAlert system. Though ShakeAlert does not provide actionable earthquake data, it is able to provide a few seconds of advance notice of destructive activity in regions 20 miles away from the epicenter, by taking advantage of the fact that the damaging 'S' waves of a seismic event are slower than the preceding 'P' waves. Countries with limited resources provide tangible examples of what a lack of earthquake data can do. Imagine if an early warning capability existed in Myanmar or Thailand, or in Haiti, where the death toll of its catastrophic 2010 earthquakes was estimated at 300,000. Incredibly, one does exist, yet the USGS refuses to consider it. Over a decade ago, scientists from NASA discovered that before earthquakes occur, sections of the earth's crust near faults begin to behave like semiconductors, generating electricity proportional to the amount of stress near the faults. This changes the electric and magnetic fields of the earth's surface, subsurface, atmosphere and ionosphere. Scientists in the U.S., Europe and around the world have verified the theory, and have published considerable peer-reviewed research papers and articles on the subject. One private company has applied artificial intelligence (AI) to the problem, achieving stunning results for four earthquakes exceeding 7.0 magnitude in 2024. Through AI-enabled ionospheric nowcasting, also known as space weather monitoring, earthquakes in Noto, Japan; Hualien, Taiwan, offshore of Noto; and offshore of Cape Mendicino, Calif., were predicted between three to four days in advance. President Trump has promised to make the federal government more efficient and effective, and there is no organization more in need than the USGS. Rather than reacting to dangerous seismic activity, the agency can be proactive by partnering with the sector to do a better job helping Americans prepare for earthquake hazards. Fortunately, with the Trump administration's foresight on the importance of AI science and technology, there is an immediate avenue of approach. The administration is developing an AI action plan to define the priority policy actions needed to sustain and enhance America's AI dominance. Including a public-private partnership to equip the USGS with a lifesaving earthquake forecasting capability should be a key component of the plan. With several days of advance notice before a large magnitude seismic event, emergency managers could pre-stage critical resources for immediate response, and the public could both prepare and be less inclined to panic. To date, Trump's Department of Government Efficiency appears to be doing more harm than good with across-the-board firing of the federal workforce. This is a self-defeating approach that unintentionally impedes the administration's stated priorities of national security, economic prosperity and public safety. The right way to get our government to do a better job is to directly target areas in which improvement is needed and leverage science and technology where demonstrable private sector innovations can meaningfully contribute to those priorities. Clearly, AI-enabled earthquake forecasting is a case in point that needs to be in Trump's AI action plan, now. Rear Adm. (ret.) Tim Gallaudet, Ph.D., is a former acting and deputy administrator of the National Oceanic and Atmospheric Administration (NOAA), acting undersecretary and Assistant Secretary of Commerce, and oceanographer of the Navy. As the CEO of Ocean STL Consulting, LLC precursor SPC.
Yahoo
20-02-2025
- Business
- Yahoo
Months after Helene, some western NC businesses reopen — with new debt and financial worries
Second Gear, an outdoor gear shop in Asheville, North Carolina. The store's previous building on the riverfront was destroyed during Hurricane Helene. (Photo: Courtesy of Russ Towers/Second Gear) After Hurricane Helene left his Asheville store beyond repair, Russ Towers had a plan — and the good fortune — to relocate. Second Gear, his outdoor gear shop, was almost entirely submerged at the peak of the storm's flooding. When the waters receded, the roof of the Riverside Drive building had collapsed. A month later, he had closed on a new lease across the river, in the Westgate Shopping Center. And by early December, Second Gear's doors were open again. 'I had some people that I didn't want to lose,' Towers said. 'I didn't want to wait until spring.' The quick pivot came with a price tag. Towers and his co-owners made loans to the business to get the new location off the ground. They were aided by a GoFundMe that exceeded their expectations, raising more than $40,000. Helene has cost them about $700,000 in total, Towers estimates. Second Gear isn't alone in carrying new financial burdens. Dr. Carly Brown, who runs the affordable primary care clinic Ashewell Medical Group, said repairs to the practice's 2,300 square-foot office would cost hundreds of thousands. And Jennifer and Jon Hartman, owners of the Marion restaurant J. Hartman's, have taken on debt to finance new equipment. All three have now reopened — thanks to a combination of saved capital and community fundraising. Direct aid from the government, though, has been hard to come by. The Hartmans received a grant through a county chamber program, but their restaurant and Brown's clinic haven't qualified for the biggest programs. Second Gear has received about $55,000 across four grants, including from the private sector. 'It helps, but it doesn't even come close to covering our loss,' Towers said. Lawmakers leading North Carolina's Helene recovery have created loan programs for businesses, but have so far resisted the idea of providing wide-ranging grants that they argue could be distributed irresponsibly. Business and industry leaders are continuing to push for more relief. Many other businesses, they say, haven't been able to reopen so quickly — and for them, the next few months will be a crossroads. 'They're just trying to find other ways to survive,' said Lynn Minges, president and CEO of the North Carolina Restaurant and Lodging Association. 'There's been a little relief here, a little of nonprofits helping a little bit along the way. But they really need some significant support in order to sustain.' Brown, who runs the Asheville clinic, opened a new line of credit and expanded another to finance the office's move. She's been working on applying for a loan from the Small Business Administration, too, but she has reservations. 'I'm very, very hesitant to take it, because they'll put a lien on my property if I do,' Brown said. The loan in question would feature a 30-year term, at a 4% interest rate — a 'generous' offer, she said. But there's no guarantee that Asheville's River Arts District, where the old office is located, ever makes a full recovery. 'I don't know that that area will come back,' Brown said. 'I don't want to throw good money after bad.' In addition to the SBA's federal loans, businesses in the mountains have been offered new state loans created by the legislature and the private sector. But many are shying away from those as well, because they're still paying off pandemic-era loans and are already too leveraged. 'We were aggressively paying on our COVID loan,' said Towers. 'We were trying to pay it off within 10 years.' Business advocates and Democratic officials have repeatedly pushed for the state to create grants for businesses — or at least make the loans forgivable. Republicans have been wary of doing so. One top lawmaker said earlier this month that he wanted to avoid major companies — 'the Walmarts or the Family Dollars' — from taking advantage of them. Grants would be 'essential' to keeping businesses afloat, a spokesperson for the Asheville Area Chamber of Commerce said in an email. There was still a 'large gap' between the damage absorbed by businesses and how much grant money was available, vice president of communications Erin Leonard said. The city chamber has launched a survey about Helene recovery, asking business owners to 'help inform decision-makers at the local, state and federal levels.' Gov. Josh Stein, a Democrat, has turned to the private sector to help fund grant programs. A $35 million program is providing grants to businesses that make $2.5 million or less annually, a higher threshold than the $1 million annual cap for earlier grants. The North Carolina Restaurant & Lodging Association's foundation also established a grant program to directly pay employees. To date, more than 1,800 hospitality workers have received pay through the $740,000 fund. 'I was super thankful for that,' said Hartman, whose restaurant workers were able to take advantage of the fund. 'I was looking for anything and everything, how to get them some financial assistance while we were down.' Republican lawmakers have in recent weeks signaled that grants, or forgivable loans, could be on the table going forward. The latest package for Helene relief, currently in the House, proposes a roundabout grant program — sending money to local governments, who can use it to repair 'infrastructure serving one or more small businesses.' But it does not propose allocating money to businesses directly. It's still unclear how quickly lawmakers will move to pass that package. The Senate leader has been mum on his plans, and winter weather set the process back another week. 'I'm not sure how much longer these businesses can survive,' said Minges, the head of the Restaurant and Lodging Association. 'They have debt already, loans that they're not able to pay back. They're just getting further and further behind. It is concerning.' Business owners are keeping an eye on both Jones Street and Washington. But some, like the Hartmans, are keeping their heads down and expectations in check. 'We had to just kind of stay in our own bubble,' said Hartman, who added that the state's response was 'a touchy subject' for some. 'And realize that we can't rely on or wait around for help that may or may not be coming from anywhere.' Still, frustrations remain. Brown pointed to her clinic's history — a successful, frontline medical practice that served as a testing site for Asheville during the pandemic. If she couldn't easily access the aid she needed, could anyone? 'One thing that feels very real for us here is to feel like we're kind of pawns in the political process,' Brown said. 'We do feel like the local politicians are really trying. But it does seem like we're wrapped in this bubble of federal issues, on top of state issues, on top of local issues. It just feels hard.'
