Home Page - Gulf in the Media
HomePoliticsEconomy                               Set Gulfinthemedia.com as home page
 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.
Iran's oil exports surge 60pc from a year ago
Source : tradearabia  
Date : 2016-05-19
Iran's oil exports are set to surge in May, climbing nearly 60 percent from a year ago, with European shipments recovering to about half of pre-sanction levels, according to a...
Saudi Binladin gets $667m loan to ease finance crunch
Source : tradearabia  
Date : 2016-05-19
Construction firm Saudi Binladin Group has secured a 2.5 billion riyal ($667 million) loan from local banks to ease its financial pressures, banking sources aware of the matter said on...
Maersk Oil wins top award for Qatarisation
Source : The Peninsula  
Date : 2016-05-19
Maersk Oil Qatar (MOQ) has once again been recognised for its continued commitment to supporting the nation's Qatarisation strategy as the winner of the Crystal Award for 'Supporting Qatarisation' at...
Qatargas & JERA agree on first spot LNG cargo to Japanese firm
Source : The Peninsula  
Date : 2016-05-19
Qatargas Operating Company Limited (Qatargas) agreed with Japan's newly established JERA Co Inc on the first spot Liquefied Natural Gas (LNG) cargo purchase under the newly executed Master Sales and...
Nama Group 2015 revenues top RO 1.1bn
Source : Oman Daily Observer  
Date : 2016-05-19
Nama Group, the holding company grouping state-owned electricity transmission, distribution and other related entities, generated revenues totalling RO 1.1 billion in 2015, fuelled by a 7 per cent increase in...
Oman's imports drop marginally to OMR11b
Source : Times of Oman  
Date : 2016-05-19
Oman's total imports declined marginally by 1 per cent to OMR11.15 billion in 2015, from OMR11.27 billion in the previous year, mainly on account of the fall in commodity prices...
China is UAE's vital trade partner
Source : Gulf Today  
Date : 2016-05-19
Sultan Bin Saeed Al Mansouri, Minister of Economy, and his accompanying delegation, participated in the opening of the Belt and Road Summit, being held at the Hong Kong Convention and...
Demand for Islamic products offers opportunities
Source : Oman Daily Observer  
Date : 2016-05-18
The demand for Islamic products is on the rise nowadays and today it includes a multitude of tourism products, including foodstuff, banking services, finance and insurance....
Britain will incur economic damage if it leaves the EU
Source : Gulf Times  
Date : 2016-05-18
There is just over a month left for the June 23 referendum to address the question of whether Britain should leave (or Brexit) the European Union....
Zuma's visit to boost South Africa's Qatar ties
Source : Gulf Times  
Date : 2016-05-18
Qatar and South Africa have distinct ties through years of co-operation and common interests....
Qatar wealth fund 'to create $100bn unit in revamp'
Source : Gulf Times  
Date : 2016-05-18
Qatar's sovereign wealth fund is undergoing its biggest overhaul since 2014, grouping $100bn of investments in local companies into a new unit and abandoning the Qatar Holding name synonymous with...
Emiratisation not happening at Etisalat?
Source : Khaleej Times  
Date : 2016-05-18
Federal National Council (FNC) member, Khalid Al Falasi from Dubai, argued that instead of encouraging Emiratisation, Etisalat is pushing Emirati employees to quit from the organisation....
Productive families - an economic support
Source : Saudi Gazette  
Date : 2016-05-18
Nobody will disagree that what the countries of the world are suffering from, especially with the existence of pressing economic crises, is companies and establishments cutting their expenses....
SWCC, NWC ready to meet water demand in summer
Source : Arab News  
Date : 2016-05-18
Governor of the Saline Water Conversion Corporation (SWCC) Dr. Abdul Rahman bin Mohammad Al-Ibrahim said that sufficient measures have been taken to ensure water availability during the summer season....
Health expo draws 8,740 visitors on its opening day
Source : Arab News  
Date : 2016-05-18
More than 8,000 visitors were recorded on the first day of the Saudi Health 2016 exhibition which was inaugurated here on Monday....
Umrah-tourism program being blocked: Source
Source : Arab News  
Date : 2016-05-18
The much spoken Umrah-tourism package program seems to have remained on paper as the authorities concerned have been accused of limiting pilgrims' trips to the Two Holy Cities....
Qatar-South Africa ties to grow further with Zuma's visit today
Source : The Peninsula  
Date : 2016-05-18
Qatar and South Africa's distinct ties and cooperation have grown significantly over recent years....
Turner & Townsend seals big Dubai airport contract
Source : tradearabia  
Date : 2016-05-18
Global professional services consultancy Turner & Townsend has won a key contract to provide cost management services for the expansion of Dubai's Al Maktoum International Airport at Dubai South....
ICC Qatar to organise its first banking workshop
Source : The Peninsula  
Date : 2016-05-18
The International Chamber of Commerce Qatar (ICC Qatar) yesterday announced it will organise its first banking workshop titled "Documentary Credits in Today's Challenging Environment by Gary Collyer" on May 23...
Kuwait index extends losses; volume drops
Source : Arab Times  
Date : 2016-05-18
Kuwait stocks headed south on Monday extending the losses to second session. The price index dropped 27.56 pts to 5,384.14 pts amid selling in select counters. The banks ...
Total 926 Results in 47 Pages
For more news, views and reports about this topic, please subscribe
to GRC website: www.grc.net
Wed Jun 1, 2016| 24-شعبان-1437هـ
Iraq forces push into streets of Fallujah
World Muslims slam Tehran for Haj politics, back Riyadh
QNB 'cautiously optimistic' on GCC equities
Syria's chief opposition negotiator resigns
Turkey offers US joint Syria operation - without Kurds
U.S. not serious in fulfilling JCPOA commitments, Zarif says
SAMA's foreign assets reach SR2.15 trillion
Qatari women's share in job market limited to govt sector: Academic
Oil may reach $60 this summer: Minister
Political process only choice to end Syrian crisis - EU chief
UAE, Qatar among most competitive economies
Top Kuwaiti court upholds death for mosque blast convict
UN Envoy: violations to cessation of hostilities in Yemen are unacceptable
Kuwait's inflation eases to 2.9% as food prices drop
Work under sun banned from June 15 to Sept. 15
Iraq joins Mideast rivals raising oil exports ahead of Opec meeting
UAE is committed to protecting workers' rights: Minister
Fighting cancer
End in sight for crude glut in global market
Haj, Iran and lies
Sectarian cleansing in Iraq, Syria
GCC Markets Performance - April 2016
Saudi Vision 2030
    GCC Press Agencies
Day's main stories from the GCC Press Agencies
    GRC Analysis
Renewable Energy in GCC
Paris Climate Deal and Oil-rich Countries
Combating Climate Change and Terrorism
    GRC Commentary
Earth Day 2016: The Promised Day
An Evolving Saudi-US Relationship
Water and Jobs: Hitting Two Birds with One Stone!
    GRC Press Release
Gulf Research Center press releases to the media
    GRC Publications
Qatar’s Legal Framework of Migration No.2/2016
The Strategic Environment in the Middle East: A Shattered Regional Order
Taxing Remittances: Consequences for Migrant Labour Populations in the GCC Countries
    GRC Newsletters/Bulletins

Enter your email to get the Newsletter
A Note on Syrian Refugees in the Gulf: Attempting to Assess Data and Policies
Privacy Policy | Contact Us | Terms & Conditions | About Us |
Weather | Qibla Directions | Hijri Date Conversion Tool
Full Page :total time:0  |   44-- 44 Middle Page :0  --   | Right : 44 - 44--en--sess-enreq-en-coming