World Bulletin/News Desk
British Prime Minister David Cameron had oil and sports on his mind when he visited Brazil this week seeking business opportunities in the South American nation that overtook Britain last year to become the world's No. 6 economy.
With the European Union in a slump, Cameron has turned to emerging BRIC nations - Brazil, Russia, India and China - as alternative markets for British exports and investments, with little to show so far.
With executives from 45 leading British companies in tow, Cameron met on Friday with Brazilian President Dilma Rousseff, who invited British businesses to invest in Brazil oil and gas, defense, mining and financial services industries.
"I think we can do a lot better," Rousseff said of growing but still negligible trade and investment flows between the two countries.
Rousseff said British interest in Brazil had come at the right time after her government announced last month a $66 billion investment in road and railway building as part of a massive plan to upgrade her country's dilapidated infrastructure, which includes modernizing ports and airports.
Following the success of the London Olympics this summer, Rousseff said Brazil was seeking British cooperation to prepare for the 2014 Soccer World Cup and the 2016 Olympics Games.
Cameron said British companies had signed more than $161 million in deals during his two-day visit, with another $400 million in potential contracts for companies that can help Brazil get ready for the two global sporting events it will host.
Earlier on Friday in Rio de Janeiro, accompanied by British companies hoping for a slice of Brazil's enormous energy potential, Cameron met with Maria das Gracas Foster, the president of Brazil's largest company, the state-led Petrobras .
Foster laid out the oil company's $236 billion investment plan for the next five years to develop Brazil's sub-salt off-shore oil reserves and become one of the world's top producers.
"We have an enormous potential in the oil and gas field, an enormous challenge, and we are open for business for the British industry in oil equipment and services," Foster told them.
Cameron visited the industrial state Sao Paulo on Thursday to open a new $100 million factory by Britain's JCB to make backhoes and excavating equipment.
"If you can't beat them, join them," he said in a speech to businessmen, urging a greater British partnership with Brazil.
10 Turkish agricultural machinery producers and exporters explore Ethiopian market during visit to Addis Ababa
Turkish firms' know-how' in construction sector is an advantage to have in joint projects in Africa: Japanese bank manager
BIST 100 index gains 0.48 percent at opening; USD/TRY stands at around 3.75
Office workers, farmers and radio hosts are taking on new nationalities, relocating their businesses or looking forward to lucrative alternative trade deals, as politicians struggle to come up with a plan.
The International Monetary Fund was going to be "attentive" to the consequences of the reform, which notably includes a sharply lower corporate tax rate, she told French radio station France Inter.
More than 9,000 new companies established in January, according to major business body
Company reaches settlement with EPA following investigation started in 2014
BIST 100 rises 0.51 percent; USD/TRY exchange rate drops to 3.7660
The European aircraft maker said in a statement that net profit nearly tripled to 2.87 billion euros ($3.6 billion) in 2017 from 995 million euros a year earlier.
BIST 100 rises 1.05 percent; USD/TRY exchange rate drops to 3.7820
Saudi Aramco's crude output in March will be 100,000 barrels per day (bpd) below its February level while exports will be kept below seven million bpd, the energy ministry said.
Turkish Central Bank says annual deficit rose to $47.1B in 2017
The figure follows up growth of 0.9 percent in the first quarter of 2017, 0.6 percent in the second, and 0.7 percent in the third -- all adjusted for price, seasonal and calendar effects.
BIST 100 rises 0.73 percent; USD/TRY exchange rate drops to 3.8040
Consumer Prices Index 12-month rate at 3 percent in January 2018, unchanged from December 2017
BIST 100 rises 0.43 percent, while USD/TRY exchange rate drops to 3.7980