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.
 
Qatari, Moroccan companies sign deals worth QR100m
Source : The Peninsula  
Date : 2014-10-19
Qatar Development Bank (QDB) yesterday announced that joint meetings between Qatari exporters and Moroccan importers in Morocco held last month, have resulted in the signing of three commercial contracts totalling...
IDB finances Artl towers project with US$ 120 mln
Source : Yemen News Agency  
Date : 2014-10-19
The Islamic Development Bank (IDB) has agreed to finance the endowments investment project at Artl area in Sana'a province at a total cost of US$ 120 million....
Libya calls for Opec output cut amid price fall
Source : Oman Tribune  
Date : 2014-10-19
Opec should cut its oil output to support prices, a Libyan oil official said, as oil prices that have slid to a four-year low this week add to a squeeze...
Petrol prices may rise too
Source : Kuwait News Agency  
Date : 2014-10-19
A well-informed oil sector official justified the government's decision to lift subsidies from diesel and kerosene because of smuggling to other GCC states and neighboring countries....
KAFCO forecast 100 percent profits' rise
Source : Kuwait News Agency  
Date : 2014-10-19
Kuwait Aviation Fueling Company (KAFCO) predicts a 100 percent rise of profits in the current fiscal year, the General Manager Ahmad Al-Mudhef announced on Sunday....
Gold price restores gains to USD 1,239 per ounce - report
Source : Kuwait News Agency  
Date : 2014-10-19
The gold price restored its gains, standing at USD 1,239 per ounce by the end of last week trading, a specialized economic report said Sunday....
Ministry of Interior introduces Criminal Status Certificates app
Source : Gulf Today  
Date : 2014-10-19
The Ministry of Interior (MoI) has introduced the issuance of Criminal Status Certificates (Certificates of Good Conduct) service as part of its smart services bundle....
KSE's main indexes settle in red zone
Source : Kuwait News Agency  
Date : 2014-10-19
Main indexes of Kuwait Stock Exchange settled in the red zone upon closing Sunday's session. Weighted Index read 484.17, losing 3.52 points, price index went down to 7,387.85, losing 22.49 points...
Technical analysis of the QSE index
Source : Gulf Times  
Date : 2014-10-19
The QSE Index declined around 44 points and drifted lower for the second consecutive week. The index failed to make any further headway above 13,900.0 and retreated, as the bulls...
Vacheron Constantin planning to hold its 260th anniversary celebrations in Qatar
Source : Gulf Times  
Date : 2014-10-19
An official of Vacheron Constantin said the company is planning to hold a special celebration of its 260th anniversary in Qatar with the launching of more timepieces in the Qatari...
All-embracing growth drives Ahlibank profit
Source : Gulf Times  
Date : 2014-10-19
Strong performance across all key portfolios has helped Ahlibank post a nine-month net profit of QR458.1mn, up 10.8% on the same period in 2013....
Qatar's economy 'safe from deflation'
Source : Gulf Times  
Date : 2014-10-19
A significant decline in commodity prices in recent weeks coupled with a worsening economic outlook and major corrections in equity markets could result in a "great deflation" or a vicious...
Catalyst Qatar buys Germany's Kunst Stoff
Source : The Peninsula  
Date : 2014-10-19
Catalyst Qatar, a company involved in the design and development of software applications and games, announced that it has agreed to acquire Kunst Stoff, a reputable German company in the...
FNC app to promote political awareness
Source : Gulf Today  
Date : 2014-10-19
The Ministry of State for Federal National Council Affairs (MFNCA) has launched ' MFNCA, a smartphone app to enable members of the society to receive its news and information on...
Ministry warns against buying health products online
Source : Khaleej Times  
Date : 2014-10-19
The Ministry of Health (MoH) has warned residents against buying health products online, pointing to the increasing instances of sale of tablets used in a 'water diet'....
Franchise Expo to attract industry speakers
Source : Gulf Today  
Date : 2014-10-19
The Middle East Franchise Expo, the region's leading franchising event, to be organised by the Middle East & North Africa Franchise Association (MENAFA) in Dubai from Oct.21-22, 2014, will feature...
Tilal launched to develop Sharjah's realty sector
Source : Gulf Today  
Date : 2014-10-19
Sharjah Asset Management, in partnership with Eskan Real Estate Development, has launched Tilal Real Estate, a company aimed at the establishment, development and management of real estate projects....
EGA head sees bright future for Middle East's aluminium industry
Source : Gulf Today  
Date : 2014-10-19
Spearheaded by companies like Emirate Global Aluminium (EGA), the Middle East’s aluminium industry has not only fulfilled forecasts made in late 2008 that it has the right fundamentals to survive...
Greek PM says he can ride out market turbulence
Source : Gulf Today  
Date : 2014-10-19
Prime Minister Antonis Samaras said on Friday Greece would ride out market doubts about whether it can survive without international support, telling Reuters he can lead his country out of...
Sharjah seeks more FDI: Shurooq CEO
Source : Gulf Today  
Date : 2014-10-19
The government of the emirate of Sharjah is focusing on promoting investment opportunities in tourism, environment, transport and healthcare, to attract more foreign direct investment, FDI, to the emirate, said...
Total 1654 Results in 83 Pages
  18 
For more news, views and reports about this topic, please subscribe
to GRC website: www.grc.net
Fri Oct 24, 2014| 29-ذو الحجة-1435هـ
General Shaikh Mohammed holds talks with Putin
China seeks closer military ties with Iran
UAE leads IPO activity in region in Q3: PwC
South Yemen rebels vow to intensify protests
Yemen, WFP discuss food security support
IS now 'richest terror group'
Gulf airlines target Italy as transit point for expansion
Work on Qatar's new sponsorship law under way
Qatar, Iran hold talks on boosting trade ties
Lebanese gov't to stop receiving Syrian refugees, barring 'exceptional' cases
S&P reaffirms Nakilat rating at 'AA-' with stable outlook
Turkey-US ties under strain over arms airdrop
Saudi Arabia's imports jump 19.6% in August, nonoil exports up
Women warned anew: Hands off cars !
Saudi Arabia supplies less oil in September despite output rise
    Newspaper Editorials
The Blackwater trial also convicted US policy
Intimidation tactics will not work
More>>  
    Opinions
Will ISIS prolong Assad's rule?
A bubbling cauldron
More>>  
    GCC Press Agencies
Day's main stories from the GCC Press Agencies
    Reports
Justice in Transition in Yemen
The United Arab Emirates (UAE): Issues for US Policy
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
Labor Market Integration in the GCC Countries
Integration Processes in Latin America
GCC’s External Trade Integration: An Assessment
    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  |   06-- 06 Middle Page :0  --   | Right : 06 - 06--en--sess-enreq-en-coming