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Oman Air eyes Indian market for growth

  Mumbai / Tribune News Service Muscat-based Oman Air is seeking an over 36 percent increase in bilateral flying rights from India as it seeks to compete with West Asian rivals to carry more passengers to and from the country, the world’s fastest growing aviation market. Oman Air, which flies to 11 Indian cities, is competing with three major Gulf ...

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Reliance bets on Jio to expand retail footprint

  Mumbai / Tribune News Service Reliance Retail Ltd is utilizing the delay in launching mobile services by its affiliate Reliance Jio Infocomm Ltd to expand its phone distribution network, two people aware of the issue said. Reliance Retail Ltd, a unit of Reliance Industries Ltd (RIL), has signed up more than 120,000 modern retailers and 65,000 smaller stores to ...

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British Airways owner cuts profit target on Brexit fallout

  London / Bloomberg British Airways owner IAG SA lowered its 2016 profit target as the UK’s vote to leave the European Union threatens to extend a drop in demand that started in June in the run-up to the historic referendum. Operating profit this year will no longer increase at a level similar to the 70 percent surge posted in ...

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London office prices to fall 20% after Brexit vote

  Bloomberg London office-property values may fall by as much as 20 percent within three years of the country leaving the European Union as businesses relocate and the economy stagnates, according to Green Street Advisors LLC. “New leasing will slow dramatically,” said Hemant Kotak, an analyst at the London-based research company. Retail-property values across the country could fall by 10 ...

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Jones Lang, CBRE fall as EU exit bodes UK real estate pause

  Bloomberg CBRE Group Inc. and Jones Lang LaSalle Inc., real estate services firms that do a significant share of their business in the U.K., tumbled as investors speculated on a possible fall-off in property sales and leases after Britons voted to leave the European Union. CBRE, the world’s largest commercial-property brokerage, dropped 9 percent to $27.31 in New York, ...

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Boston realty to benefit from UK’s exit from EU

  TIMES NEWS SERVICE Britain’s vote to leave the European Union may be causing turmoil in the capitals of Europe and in world stock markets. But it could actually benefit the real estate market in Boston. Here’s how: Housing Mortgage rates — already quite low — could stay down. The reason? Uncertainty about the economy and the stock market drives ...

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USA 30-year mortgage average edges up to 3.56 %

  Washington / AP Long-term U.S. mortgage rates rose this week but remain at levels low enough to boost home sales in the spring buying season. Mortgage buyer Freddie Mac says the average 30-year fixed-rate mortgage edged up to 3.56% from a 52-week low of 3.54% last week. The rate is down from 4.02% a year ago. The average rate on ...

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Andhra Pradesh OKs Swiss Challenge model to develop Amaravati

  Tribune News Service Andhra Pradesh will take the help of two Singapore companies to build Amaravati as a “world-class capital”, chief minister N. Chandrababu Naidu said, providing clarity on development plans eight months after the foundation for the new capital was laid. The state cabinet, at a meeting on Friday, gave its nod to develop the capital with help ...

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Business cautions costly divorce for UK PLC

Bloomberg As executives digest the news of the U.K.’s vote to leave the European Union, they’re cautioning that business will suffer — affecting everything from beach vacations to wristwatch ads to initial public offerings of stocks. Companies exposed to the U.K. economy warned that the decision could slow growth and prompt them to cut their investments in the country, and ...

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