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.
New role for Kamal Tabaja at Trust Re
Source : Gulf Daily News  
Date : 2015-01-19
Bahrain-based reinsurance firm Trust Re yesterday announced Kamal Tabaja's appointment as chief operating officer with retrospective effect from December last year....
Qatar bank plans $549m sukuk
Source : Gulf Daily News  
Date : 2015-01-19
Qatar Islamic Bank (QIB) plans to raise up to two billion riyals ($549.4 million) through a capital-boosting sukuk, the latest Gulf bank eyeing debt markets to replenish its reserves after...
EDB showcases Bahrain in US
Source : Gulf Daily News  
Date : 2015-01-19
Opportunities that Bahrain offers investors in the technology sector and the ability to access neighbouring markets were showcased in the US by a high-powered Economic Development Board (EDB) delegation....
Qatar provides world-class accommodation to workers
Source : Gulf Times  
Date : 2015-01-19
Qatar has been developing world-class housing and sport complexes where its multinational workforce can live in harmony and low income workers can enjoy modern amenities for a healthy...
Mayor reveals ambitious plan for Corniche
Source : Saudi Gazette  
Date : 2015-01-19
Mayor of Jeddah Hani Aburas has announced a budget of SR1.27 billion for the development of the coastal area....
Construction industry to tackle high numbers of illegal workers
Source : Saudi Gazette  
Date : 2015-01-19
Most illegal expatriates work in the construction industry and there is a need for a campaign to rectify the situation, according to private sector experts....
Meydan Community to receive freehold luxury villa project
Source : Khaleej Times  
Date : 2015-01-19
Meydan Dubai, one of the largest and most luxurious integrated racing, business and lifestyle hubs in the world, will witness development of Millennium Square, the first-of-its-kind semi-detached freehold luxury villa...
Pakistanis eye UAE realty
Source : Khaleej Times  
Date : 2015-01-19
Political and economic uncertainty is the major concern for most property investors in Pakistan and the UAE’s real estate industry has emerged as the top destination for those Pakistanis who...
Dubai residential, hotel markets peaking
Source : Khaleej Times  
Date : 2015-01-19
Dubai’s markets for residential real estate and hotel properties are peaking as lower oil prices dampen sentiment, though strong government spending and the emirate’s diversified economy mean a sharp pull-back...
Abu Dhabi property set to show steady growth in '15
Source : Khaleej Times  
Date : 2015-01-19
Abu Dhabi’s property market, which posted a double-digit growth in capital value last year, will continue to show steady growth in 2015....
Emirates NBD's profit surges 58% in '14 on strong growth
Source : Khaleej Times  
Date : 2015-01-19
Emirates NBD on Sunday became first UAE bank to report annual pre-impairment operating profit above Dh10 billion as it recorded strong growth in all business units last year....
Iran foresees 3 oil scenarios in national budget
Source : Tehran Times  
Date : 2015-01-19
Iran foresees three scenarios for finalizing the next year’s national budget (March 2015-March 2016) based on oil prices of $40, $50, and $70 per barrel, Economy Minister Ali Tayyebnia announced...
Iran produces over 51.6m tons of cement in 9 months
Source : Tehran Times  
Date : 2015-01-19
Iran produced 51.645 million tons of cement in the first nine months of the current Iranian calendar year (March 21-Decemebr 21, 2014), the IRNA news agency reported on Sunday....
Iran's foreign debt declines $544m in 6 months
Source : Tehran Times  
Date : 2015-01-19
Iran’s external (foreign) debt fell $544 million during the first half of the current Iranian calendar year (March 21- September 22, 2014) from $6.655 billion in the beginning of the...
First Iranian-made electric car unveiled
Source : Tehran Times  
Date : 2015-01-19
The first Iranian-made electric car, named Sabrina, was unveiled on Sunday....
Oil price plunge causes concern among expats
Source : The Peninsula  
Date : 2015-01-19
An unprecedented fall in oil prices and reports of key projects being shelved in the energy sector are causing some concern among expatriate communities. The price slump and its possible...
Inspector error leads to sale of banned tomato sauce
Source : The Peninsula  
Date : 2015-01-19
The Supreme Council of Health (SCH) said yesterday that a consignment of Lyod Grossman tomato sauce that contains a limited quantity of red wine entered the local market due to...
Heritage store owners given a crash course
Source : Arab News  
Date : 2015-01-19
The Saudi Commission for Tourism and Antiquities organized a program to train private heritage store owners at the King Abdul Aziz historical center recently....
Barwa's sale of two plots completed
Source : The Peninsula  
Date : 2015-01-19
Barwa real estate announced that it has concluded the sale of two land plots in Mesaimeer area for a total sale price of QR5.3bn to the Qatari Company for Land...
Ezdan opens integrated-services facility at Sealine Beach
Source : The Peninsula  
Date : 2015-01-19
Keeping in view the growing number of visitors to the Sealine Beach in Mesaieed City’s east coast, Ezdan Holding Group has opened an integrated-services facility “Ezdan Oasis”, which offers several...
Total 1781 Results in 90 Pages
For more news, views and reports about this topic, please subscribe
to GRC website: www.grc.net
Sun Jan 25, 2015| 04-ربيع ثاني-1436هـ
World leaders descend on Riyadh
Global media hail Abdullah's legacy
US-Iran nuclear talks resume in Switzerland 
Growth in GCC states to hit slow lane this year on oil slide
19,396 voters register for CMC poll in 29 constituencies
Nation pledges allegiance to Salman 
Obama to cut short India trip to pay call on Saudi Arabia
Pentagon: Training for Iraqi, Syrian forces moving ahead
Oman' rail network designs likely to be finalised this year
Business heads eye expansions in Qatar
Thousands in Sanaa attend biggest anti-Houthi protest
Property sales prices rise 15% in ’14: Report
Iran largest steel producer in Middle East: WSA
Syria opposition demands 'radical change'
Iran lawmakers drafting law on nuclear enrichment hike
Japan condemns apparent terror group hostage killing
    Newspaper Editorials
A King on a mission
King Abdullah: Visionary leader and reformist
Kingdom smoothly enters into new era
Middle East instability a test for relations between Obama and new Saudi leader
    GCC Press Agencies
Day's main stories from the GCC Press Agencies
Gulf Security, Stability, and Terrorism: Country Rankings
    Bank Reports
Oil prices and the GCC: The resilient and the less so
GCC Markets Performance – May 2014
    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
Bahrain’s Legal Framework of Migration
Ethnography, Anthropology and Migration to the Arabian Peninsula: Themes from an Ethnographic Research Trajectory
Can the EU Still Inspire Integration in the Gulf?
    GRC Newsletters/Bulletins

Enter your email to get the Newsletter
Privacy Policy | Contact Us | Terms & Conditions | About Us |
Weather | Qibla Directions | Hijri Date Conversion Tool
Full Page :total time:0  |   35-- 35 Middle Page :0  --   | Right : 35 - 35--en--sess-enreq-en-coming