In South Pasadena, California, an estimated 1 or 2 homes will be demolished this year and replaced with mansions. Just a few towns away in Arcadia, that number jumps up to 150 homes. Many of the new residents come from China

In South Pasadena, California, an estimated 1 or 2 homes will be demolished this year and replaced with mansions. Just a few towns away in Arcadia, that number jumps up to 150 homes. Many of the new residents come from China's rising millionaires. Bloomberg Businessweek explores why Arcadia, and why now. (Source: Bloomberg)

The US town every Chinese millionaire wants to live in

State-owned NBCC has bagged a Rs 300-crore contract to develop a commercial complex in Varanasi, Uttar Pradesh.
In a regulatory filing on Friday, the company said it has secured a Rs 300-crore order for "development of Jawaharlal Nehru Commercial Complex (JLNCC), Englishya Lines, Varanasi on self-sustainable model".
The company got the contract from Varanasi Development Authority.
NBCC secured another work order worth Rs 24.38 crore to construct Mehta Family School of Data Science and Artificial Intelligence including internal EI,C, firefighting, fire alarm, lifts, audio visual system, CCTV and BMS installation and development works at IIT Roorkee, Uttarakhand.
The company bagged another work order worth Rs 44.37 crore from Power Grid Corporation to construct and furnish 500-bed multi-storey "Vishram Sadan" at AIIMS Gorakhpur in Uttar Pradesh.
In total, NBCC said it has secured the work order in normal course of business amounting Rs 368.75 crore.
NBCC is into Project Management 

In total, NBCC said it has secured the work order in normal course of business amounting Rs 368.75 crore

Air India will see progress on various key initiatives, including refitting of wide body and narrow body planes, in 2025 as well as tighten practices and processes to ultimately become profitable, the airline's chief Campbell Wilson said on Friday.
After taking over the loss-making Air India from the government in January 2022, Tata Group has been working on an ambitious transformation plan to turn around the airline, which recently also placed orders for 100 more aircraft.
In his message to the staff on Friday, Wilson said 2024 saw the realisation of some of the most significant milestones, including the completion of the mergers of Air India Express and AirAsia India, and Vistara with Air India that "position us as the fourth largest business, by revenue, in the Tata group".
Air India group operates 300 aircraft across both brands, flying over 60 million customers annually to more than 100 destinations in India and around the world.
While describing 2024 as a transformative year 

Air India group operates 300 aircraft across both brands, flying over 60 million customers annually to more than 100 destinations in India and around the world

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China on Friday paid tributes to former prime minister Dr Manmohan Singh saying that he made a positive contribution to the development of India-China relations recalling key agreements signed between the two countries during his tenure to address the vexed boundary issue.
Singh was a senior politician and renowned economist of India and had made a positive contribution to the development of India-China relations, Chinese Foreign Ministry spokesperson Mao Ning told a media briefing here replying to a question on Singh's legacy to the improvement of the ties between the two countries.
When he was prime minister, China and India announced the establishment of the strategic cooperative partnership for peace and prosperity and reached an agreement on the political parameters and guiding principles for the settlement of the India-China boundary question, Mao said.
China expresses deep condolences on his passing and extends its sympathy to the Indian government and people and Singh's ...

When he was prime minister, China and India announced the establishment of the strategic cooperative partnership for peace and prosperity and reached an agreement on the political parameters

The Union Cabinet on Friday condoled the passing of former prime minister Manmohan Singh, hailing him as an eminent statesman and a distinguished leader who left an imprint on the national life.
During a meeting chaired by Prime Minister Narendra Modi, the Cabinet observed a two-minute silence in honour of the departed soul and adopted a Condolence Resolution in the memory of Singh.
"Dr Manmohan Singh has left his imprint on our national life. In his passing away, the nation has lost an eminent statesman, renowned economist and a distinguished leader," the resolution read.
The Cabinet extended its heartfelt condolences on behalf of the government and the entire nation to his bereaved family.
The government has declared seven days of State mourning till January 1 during which the national flag will be flown at half-mast across the country.
The national flag will also be flown at half-mast in all the Indian missions/high commissions till  January 1.
The former prime minister will b

The Cabinet extended its heartfelt condolences on behalf of the government and the entire nation to his bereaved family

The move could benefit tens of millions of taxpayers, especially city dwellers burdened by high living costs, if they opt for a 2020 tax system that strips exemptions like housing rentals

The steel ministry believes that a higher import duty, if implemented, could mitigate the adverse effects of a rise in cheaper imports of finished steel, particularly from China

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The US town every Chinese millionaire wants to live in

In South Pasadena, California, an estimated 1 or 2 homes will be demolished this year and replaced with mansions. Just a few towns away in Arcadia, that number jumps up to 150 homes. Many of the new residents come from China

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