Home Page - Gulf in the Media
HomePoliticsEconomy                               Set Gulfinthemedia.com as home page
Economy
 Print  Send This Page
Save Listen to this Article
Australia is keen to promote Islamic finance   

Khaleej Times - 18 June, 2010

Australian government and its missions in the UAE are striving to alleviate Islamic finance in Australia and woo UAE bankers to their markets, Australian ambassador to the UAE, Doug Trappett said.
In an interview with Khaleej Times, Trappett said, “There are two main areas in our relations with the UAE which require constant attention to keep our relations growing, education and tourism, because both are very competitive areas, of course.”

But Islamic finance is a new area Australians are looking at. “Islamic finance is another one where Australian government admits that its regulations perhaps have not been the best and most conducive for attracting UAE’s Islamic banks into the Australian markets but we are taking measures to address that.”

Trappett said I had spent lots of time in promotion of agriculture trade and food security issues here. The UAE showed its interest in investing in Australia particularly in areas related to mines and energy because Australia is very rich in those sectors, the ambassador said.

“But beyond that Australia and the UAE are also very close and are expanding defence security and diplomatic relationship and in these areas I spend my great amount of time because a lot of things are happening in those fields. The UAE is very ambitious about its diplomatic agenda and Australia is its close partner in those
areas,” Trappett said.

Drop in trade ties

When asked about the trade ties with the UAE, Trappett said, “Total two way merchandise trade between Australia and the UAE in 2008 was Australian $ 6.2 billion (about Dh18 billion).”

“In 2009 the figure was Australian $ 4.2 billion. In other words bilateral trade dropped heavily because of the global economic crisis. Australian export of cars, for example, was particularly badly hit,” the ambassador said.

There are about 16,000 Australians living in the UAE.

According to Australian embassy in Abu Dhabi, around 14,000 Emiratis visit Australia each year and about 1,700 Emiratis study in Australia. This is also experiencing a rise.

Around 5,000 multiple entry visas were issued to Emiratis, 
the envoy said.

To a question regarding the safety of UAE students who travel for studies and visit, he said, “We have not seen any unwanted circumstance for Emiratis in Australia who wanted to study or visit the country and I have not heard anything happened in respect to that in the UAE that they were targeted there. There has been strong demand for education and tourism visas which are also growing.”

“I have not heard too much about medical tourism to Australia from the UAE and probably a small number of people travel from here to Australia for the purpose. I heard most of Emiratis travel to Europe or Bangkok for medical tourism purposes,” he said.
 
All clients are VIPs with FASTtelco
Source : Kuwait Times  
Date : 2014-09-15
The corporate management of FASTtelco, the leading telecommunication service provider is systematically providing best services to its corporate clients to meet their expectations and demands. The team works to ensure...
Kuwait's real estate liquidity drops
Source : Kuwait Times  
Date : 2014-09-15
According to the latest data available in the Ministry of Justice -the Real Estate Registration and Authentication Department- there is a decline in the liquidity of the real estate market...
Oil prices soften on excess supply, receding Iraq fears
Source : Kuwait Times  
Date : 2014-09-15
By the end of August, international oil prices had declined for the second month as markets readjusted to excess supply, weakening global demand and overblown fears about potential supply disruptions...
Gold prices continue falling
Source : Kuwait Times  
Date : 2014-09-15
Gold prices continued dropping during the past week reaching USD 1,232 per ounce amid continuous hike of the US dollar. Chief Executive Officer of Sabaek company Rajab Hamed told KUNA...
Portfolios, investment funds performance still limited at KSE
Source : Kuwait News Agency  
Date : 2014-09-15
Financial analysts said the performance of the financial portfolios and the investment funds at the Kuwait Stock Exchange (KSE) is still limited, though they lead trading, either up or down....
Arab central bank governors meet in Algiers
Source : Kuwait News Agency  
Date : 2014-09-15
The governors of Arab central banks and monetary institutions met here on Sunday for their 38th ordinary session, with Governor of Central Bank of Kuwait (CBK) Mohammad Al-Hashel attending....
Kuwait adopts pragmatic policy for oil exports - executive
Source : Kuwait News Agency  
Date : 2014-09-15
Kuwait's top oil authority indicated on Monday that it adopts a pragmatic policy with respect to its exportation of two million barrels of crude oil per day....
NBK Capital signs agreement with KNPC
Source : Kuwait News Agency  
Date : 2014-09-15
Kuwait National Petroleum Company (KNPC) and Watani Investment Company NBK Capital have signed the financial advisory contract for the multi-billion-dollar Clean Fuels Project (CFP) on Sunday at a special ceremony...
Julphar plans to recruit 300 Emirati employees
Source : Khaleej Times  
Date : 2014-09-15
The day aims at advising young male and female Emiratis looking for a brighter professional future on the excellent job opportunities available at Julphar across different divisions....
ADIB offers low risk exposure to Shariah stocks
Source : Khaleej Times  
Date : 2014-09-15
Abu Dhabi Islamic Bank, or ADIB, has launched a capital protected note, which will invest its proceeds in low risk global Shariah-compliant stocks....
Abu Dhabi inflation at 2.9% during 
first 8-months
Source : Khaleej Times  
Date : 2014-09-15
Comparing the CPI of August 2014 with the CPI of July 2014 the average consumer prices increased by 0.5 per cent in August 2014 compared with July 2014....
Preparations begin for Dubai Maritime Week
Source : Khaleej Times  
Date : 2014-09-15
The event will take place in Dubai in October 2014 and serves as part of DMCA's commitment to position the emirate amongst the world’s leading international exhibition hubs....
Abu Dhabi Terminals hires technical director
Source : Khaleej Times  
Date : 2014-09-15
Abu Dhabi Terminals (ADT), manager and operator of the first semi-automated and most technologically advanced container terminal in the Middle East, Khalifa Port Container Terminal, recently announced the appointment of...
Emirates NBD best consumer Internet bank
Source : Khaleej Times  
Date : 2014-09-15
Emirates NBD, a leading bank in the region, announced on Sunday that it was named "Best Consumer Internet Bank for the UAE" by Global Finance magazine's World's Best Internet Banks...
Money supply aggregate M0 hits Dh72.1 billion
Source : Khaleej Times  
Date : 2014-09-15
The Central Bank of the UAE has announced that money supply aggregate M0 — currency in circulation plus currency at banks — increased by 6.3 per cent, from Dh67.8 billion...
Derasat to oragnise seminar on GCC economic integration
Source : Bahrain News Agency  
Date : 2014-09-15
Logo of Derasat Center Bahrain Center for Strategic, International and Energy Studies (Dearast) will organise a seminar, in cooperation with Gulf Research Center (GRC) on Monday, September 22....
Emaar eyes Dh5.8 billion from IPO
Source : Khaleej Times  
Date : 2014-09-15
Emaar Malls Group share sale begins, biggest since DP World's $4.96b in 2007. Emaar Malls Group, or EMG, the malls and retail business subsidiary of developer Emaar Properties, seeks to sell...
Etihad Airways plans to set up Revenue Accounting Centre
Source : Khaleej Times  
Date : 2014-09-15
It will also create long-term economic value for the emirate of Abu Dhabi, as more than 500 Emiratis will be hired during the project's first year of operation....
Zain KSA new offer on prepaid package
Source : Saudi Gazette  
Date : 2014-09-15
Zain KSA launched its new offer for data packages which allows subscribers to enjoy the high speed internet service with a 10 GB Data SIM valid for 3 months, for...
RTA completes Phase II of Jumeirah Corniche project
Source : Saudi Gazette  
Date : 2014-09-15
The Roads and Transport Authority (RTA) has completed phase II of the Jumeirah Corniche Development project spanning 2.5 km such that the beach side open to the public now extends...
Total 1704 Results in 86 Pages
  18 
For more news, views and reports about this topic, please subscribe
to GRC website: www.grc.net
Sat Sep 20, 2014| 25-ذو القعدة-1435هـ
French jets launch first strike on IS
Women investors beat men in stock market
Yemeni Houthis agree to stop fighting 
Dubai Design District master plan set to be unveiled
Iran moving to comply with extended N-deal: IAEA
Brokerage firm staffers jailed for theft of shares worth QR17.7mn
Cool response to new Bahrain dialogue offer
Kuwait's real estate activity in August muted due to seasonal lull: report
Qatar concerned over nuclear proliferation
Iranˈs electricity export rises 3.3 percent
Al-Khurainej mulls efforts to release Abducted Kuwaiti citizen in Lebanon
Yemen seeks to increase LNG sale returns
ISIL threatens entire region - Iraqi FM
IT 'will aid Qatar rise in knowledge economy index'
Kuwait praises Qatar's human right efforts
Mullet fishing banned pending fish kill investigation
    Newspaper Editorials
Suspense ends, unity prevails
Silence on MH 17
More>>  
    Opinions
Yemen must end it ... now
Iran talks resume, time to play 'Let's make a deal'
More>>  
    GCC Press Agencies
Day's main stories from the GCC Press Agencies
    Reports
Iran and the P5+1: Getting to 'Yes'
More>>  
    Bank Reports
GCC Markets Performance – May 2014
Saudi Arabia: Baseline Macroeconomic Forecast 2014-16
More>>  
    GRC Analysis
Saudi Arabia and the ASEAN Periphery: Cambodia, Myanmar, and Brunei
NATO and the Future of Gulf Security.
Saudi-Vietnam Relations
    GRC Commentary
Price of not heeding Kingdom's advice
On Relations between Rulers and Citizens: The Need for a New Social/Political Contract in the GCC States
Key Issue Facing the Saudi Ruling House.
    GRC Book Review
Beyond Regionalism? Regional Cooperation, Regionalism and Regionalization in the Middle East
India, GCC and the Global Energy Regime: Exploring Interdependence and Outlook for Collaboration.
    GRC Press Release
Gulf Research Center press releases to the media
    GRC Publications
Regional Disorder and New Geo-economic Order: Saudi Security Strategies in a Reshaped Middle East
GCC Economic Integration: Focus on Nitty-Gritty of Convergence rather than High Profile Projects
Promoting GCC Regional Integration: An Environmental Perspective
    GRC Newsletters/Bulletins

Enter your email to get the Newsletter
Go
      
Privacy Policy | Contact Us | Terms & Conditions | About Us |
Weather | Qibla Directions | Hijri Date Conversion Tool
Full Page :total time:0  |   18-- 18 Middle Page :0  --   | Right : 18 - 18--en--sess-enreq-en-coming