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Wires

  • DUBAI, March 28- Saudi Arabia's decision to cut tax paid by national oil giant Saudi Aramco has increased its value by $1 trillion, an analyst estimated on Tuesday ahead of Aramco's initial public offer of shares, expected to be the world's largest. "Assuming long-term oil prices averaging $75 per barrel, the valuation of the company increases from $0.4 trillion...

  • TRADING IN SHARES OF MEXICO'S ICA RESUMES, UP MORE THAN 45 PCT.

  • Carnival, which operates the Costa and Princess Cruise lines, hiked ticket prices last year in response to growing demand for cruises to Alaska and the Caribbean. The company's net income rose to $352 million or 48 cents per share in the first quarter, from $142 million or 18 cents per share a year earlier. Excluding one-time items, Carnival earned 38 cents per...

  • LITOVEL, Czech Republic— As vinyl records make a global comeback, so do turntables. The biggest maker of quality turntables, a company in the Czech Republic called SEV Litovel, has increased its production fourfold between 2009 and 2016, when it made 124,825 units. Some 400 employees— a workforce that has doubled in size in the last five years— make a number of types...

  • *Canadian dollar at C $1.3378, or 74.75 U.S. cents. TORONTO, March 28- The Canadian dollar weakened on Tuesday to a nearly two-week low against its U.S. counterpart before recovering most of its losses as investors braced for a speech by Bank of Canada Governor Stephen Poloz. The central bank will release Poloz's prepared remarks at 9:50 a.m. EDT, and the governor...

  • ATHENS, Greece— The European Union is clearing a 280 million euro loan from the European Investment Bank to the company that won the tender to upgrade and operate 14 regional Greek airports. European Commission spokesman Margaritis Schinas said Tuesday the EU's investment plan "supports the modernization of all the regional airports." Fraport Greece...

  • Stocks are off to a mixed start on Wall Street, while energy companies rose along with the price of crude oil. Newfield Exploration rose 1.3 percent in the first few minutes of trading Tuesday. Darden Restaurants, owner of Olive Garden, gained 6 percent and software company Red Hat rose 5 percent after reporting results that beat analysts' expectations.

  • CORRECTED-SHARES OF MEXICAN CONSTRUCTION FIRM ICA GAIN MORE THAN 20 PCT AFTER POSTING FOURTH QUARTER PROFIT, TRADING SUSPENDED.

  • PARIS— Paris and London, traditional rivals when it comes to attracting tourists and industry, have signed a business agreement to cooperate in attracting visitors and companies. The two cities, which are linked by rail, have seen their rivalry intensify recently as Paris hopes to welcome finance jobs that are expected to leave London because of Brexit.

  • PRETORIA, March 28- South Africa's Pravin Gordhan said he was still the finance minister in response to a question as he attended a court hearing on Tuesday on a case he has brought against the Gupta brothers, a Reuters witness said. Gordhan flew back to South Africa earlier on Tuesday, obeying an abrupt recall by President Jacob Zuma from an investor roadshow...

  • SHARES OF MEXICAN CONSTRUCTION FIRM ICA FALL MORE THAN 20 PCT AFTER POSTING FOURTH QUARTER PROFIT, TRADING SUSPENDED.

  • LAGOS, March 28- Nigeria's central bank has set a new naira rate of 362 for the country's retail exchange bureaus to sell dollars to consumers, the head of the bureau association told Reuters on Tuesday.

  • TORONTO, March 28- Canada's main stock index rose on Tuesday to an 11- day high as oil prices rallied and the heavyweight energy and financial groups gained ground. The Toronto Stock Exchange's S&P/TSX composite index was up 44.25 points, or 0.29 percent, at 15,550.47, shortly after the open. Nine of the index's 10 main groups were higher.

  • March 28- Rent-A-Center Inc said on Tuesday it adopted a stockholder rights plan, or a so-called "poison pill", a month after activist investor Engaged Capital LLC stepped up efforts to push the furniture retailer to sell itself. Engaged Capital, which owns a 12.9 percent stake in Rent-A-Center, last month nominated five candidates for election to the retailer's...

  • WASHINGTON— A Democratic senator is seeking marketing information, sales records and studies from manufacturers of the top-selling opioid products in the United States to determine whether drugmakers have contributed to an overuse of the pain killers. Claire McCaskill of Missouri said that sales of prescription opioids have quadrupled since 1999,...

  • The Cyprus- based company, which had $3.25 billion in debt as of Dec. 31, filed for bankruptcy in the United States Bankruptcy Court for Southern District of New York on Monday. Ocean Rig's chief executive, George Economou, said last year that the company would consider alternatives, including a possible reorganization under US bankruptcy laws.

  • *Libya supply cut by a third due to armed faction action. *Iran minister says OPEC deal "likely" to be extended. LONDON, March 28- A severe disruption to Libyan oil supplies and comments from officials suggesting OPEC could extend its production cuts deal to the end of the year boosted oil prices on Tuesday.

  • MIAMI _ Carnival Corp. on Tuesday reported fiscal first-quarter earnings of $352 million. The Miami- based company said it had profit of 48 cents per share. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.

  • March 28- Carnival Corp, the world's largest cruise operator, reported a 3.8 percent rise in quarterly revenue, helped by higher ticket prices and on-board spending. The company's net income rose to $352 million or 48 cents per share in the first quarter ended Feb. 28, from $142 million or 18 cents per share a year ealier. Revenue rose to $3.79 billion from $3.65...

  • KUALA LUMPUR, Malaysia— French President Francois Hollande has lobbied for the sale of Rafale fighter aircraft to Malaysia during a visit but Prime Minister Najib Razak says his government is not yet ready to make a decision. He said Tuesday after talks with Najib that France will provide all the support needed for Malaysia to make a decision.