June, 2016

• 25 June

  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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• 25 June

  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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• 25 June

  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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• 25 June

  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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• 25 June

  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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• 25 June

  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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• 25 June

  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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• 25 June

  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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• 25 June

  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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• 25 June

  Pound traders regroup after EU vote almost no one envisioned

  

    BLOOMBERG The pound just had its worst day ever, and few analysts expect the U.K. currency to recover all of the losses that sent it to its lowest level since 1985 — at least, not in the foreseeable future. BNP Paribas SA, one of the biggest sterling bulls before Britain voted to leave the European Union, cut its third-quarter ...

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