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.
 
A statistical conundrum
Source : Gulf Daily News  
Date : 2014-08-26
Whoa! Let's back up a bit and lend scrutiny to all those glowing statistics that are part of the daily diet of "information" delivered by ministry mouthpieces, often with machine-gun...
Insurance, banking, industrial stocks lift QSE to all-time high
Source : Gulf Times  
Date : 2014-08-26
The Qatar Stock Exchange yesterday gained a whopping 112 points to touch an all-time high, mainly lifted by insurance, banking and industrials stocks....
Qatar's first local extruder Qalex wins ISO certification
Source : Gulf Times  
Date : 2014-08-26
Qatar Aluminium Extrusion Company (Qalex), the first local extruder in Qatar, has obtained the ISO 9001:2008 certification from TÜV Nord, Qatar....
Kuwait's crude oil exports to China hits 4-month high
Source : Kuwait News Agency  
Date : 2014-08-26
Kuwait's crude oil exports to China jumped 16.9 percent in July from a year earlier to a four-month high of 1.11 million tons, equivalent to around 262,000 barrels per day...
Abu Dhabi to attract more Chinese visitors
Source : Khaleej Times  
Date : 2014-08-26
Around 59,518 Chinese visitors checked into Abu Dhabi’s hotels and resorts during the first six months of the year, which was a 189 per cent increase over the first half...
Saudi bank depositary base jumps 12.7% to all-time high SR1.5tn
Source : Saudi Gazette  
Date : 2014-08-26
Saudi banks have benefitted from the robust economy as they are able to extend credit lines to growing businesses, which in turn, translated to record profits for financial entities, the...
Saudi Arabia ideal hub for key players in food, agro sector
Source : Saudi Gazette  
Date : 2014-08-26
Due to the increase in food products imports to cater to its growing population, the Kingdom of Saudi Arabia has emerged as an ideal investment hub for the key local...
Aramco plans to invest $ 40bn yearly for next decade
Source : Arab News  
Date : 2014-08-26
Saudi Aramco plans to invest $ 40 billion a year over the next decade to keep oil production capacity steady and double gas production, President and CEO Khalid Al-Falih said....
Qatar signs deal to finance two projects in Morocco
Source : The Peninsula  
Date : 2014-08-26
The Moroccan Prime Minister, Abdul Ilah bin Kiran, yesterday met the Finance Minister H E Ali Sherief Al Emadi in capital Rabat....
Saudi-Lanka talks focus on investment, tourism
Source : Arab News  
Date : 2014-08-26
Deputy Crown Prince Muqrin and Sri Lanka's ambassador to the Kingdom, Mohammed Hussein Mohamed, held a meeting in Jeddah on Monday to promote investment and tourism between the Kingdom and...
Qatar Airways set to step up Dubai flights
Source : Gulf Times  
Date : 2014-08-26
Qatar Airways will increase frequency on its popular Doha-Dubai routes from October 26 with additional daily flights to Dubai International Airport (DXB) and Dubai World Central Al Maktoum International Airport...
QA increases number of flights to Dubai
Source : The Peninsula  
Date : 2014-08-26
With effect from October 26, 2014, Qatar Airways will increase the number of daily flights to Dubai International Airport (DXB) to 14 and to Dubai World Central Al Maktoum International...
UAE Facilities Management industry value could hit Dh20 billion by 2015
Source : Khaleej Times  
Date : 2014-08-26
Facilities Management (FM) services contracts in the UAE could be valued at approximately Dh20 billion per annum by next year, according to experts at G4S....
ENBD launches cash back on school fee
Source : Khaleej Times  
Date : 2014-08-26
Emirates NBD, a leading bank in the region, announced on Monday the launch of a dual value-added offer for customers making school and university fee payments via credit cards....
Etihad appoint new GM for Switzerland
Source : Khaleej Times  
Date : 2014-08-26
Etihad Airways, the national airline of the UAE, has appointed Gianni Tronza as its new General Manager for Switzerland effective immediately....
Adnoc acquisition of 34 Emarat service stations a success
Source : Khaleej Times  
Date : 2014-08-26
Adnoc Distribution recently announced that it has completed the acquisition of 34 Emarat service stations and a fuel depot at Port Khaled in Sharjah....
Dubai Chamber discusses trade ties with Ethiopia mission
Source : Khaleej Times  
Date : 2014-08-26
The delegation, led by Shisema Gebresilassie, head of the trade and industry development bureau of the Addis Ababa City Administration, was received by Majid Al Shamsi, first vice chairman, Dubai...
Zain Saudi Arabia finishes summer training program
Source : Saudi Gazette  
Date : 2014-08-26
ZAIN KSA has finished its 3-month summer training program for students who are enrolled in universities. The program included 53 students from different universities and higher education institutions, who joined...
Etihad Airways donates to 'Breast Cancer Arabia'
Source : Saudi Gazette  
Date : 2014-08-26
ETIHAD Airways, the national airline of the United Arab Emirates (UAE), has donated more than AED70,000 to assist the work of Breast Cancer Arabia in providing support to women with...
Saudi Arabia set to record another fiscal surplus
Source : Saudi Gazette  
Date : 2014-08-26
Given the elevated level of oil prices during the first half of 2014, Saudi Arabia is set to record another fiscal surplus, the National Commercial Bank further said in its...
Total 1617 Results in 81 Pages
  18 
For more news, views and reports about this topic, please subscribe
to GRC website: www.grc.net
Tue Sep 2, 2014| 07-ذو القعدة-1435هـ
Breakthrough in GCC-Qatar row
Power, oil & gas sectors account for 60% of SR84.9bn contracts 
42 children killed in string of Syria attacks: NGO
Emaar planning to sell 15 per cent of malls unit in IPO
Response to new US curbs may not be pleasant: Iran
China to buy a larger share of GCC's exports
Bahrain upholds 10-year jail term for journalist
Qatar Government urged to curb price rise
11 Yemeni soldiers killed in 3 attacks
Transfer of cargo activities to Sohar vital to Oman's growth
Battling terrorism major challenge for Syria: Assad
No decision on freezing of 'suspicious' bank accounts
OIC calls on bringing Israelis to justice over Gaza crimes
Hotel occupancy in Abu Dhabi hits 55% as guest arrivals up 26% in July
Kuwaiti protesters call to free 'Prisoners of Opinion'
Batelco seeks $ 212m from former Indian partner
    Newspaper Editorials
Nuclear discord, again
Democracy in Hong Kong
More>>  
    Opinions
Saudi energy experts, read my lips
Al-Abadi walks a tightrope
More>>  
    GCC Press Agencies
Day's main stories from the GCC Press Agencies
    Reports
Dispute Resolution and Justice Provision in Yemen's Transition
Iran's Nuclear Impasse – Breaking the Deadlock
More>>  
    Bank Reports
GCC Markets Performance – May 2014
Saudi Arabia: Baseline Macroeconomic Forecast 2014-16
More>>  
    GRC Analysis
Saudi-Vietnam Relations
Saudi-Philippines Relations
Enhancing Saudi-Japan Relations
    GRC Commentary
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
Housing Markets and Policy Design in the Gulf Region
The Potential for Gulf Energy Integration
Demography, Migration, and Labour Market in Qatar
    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:1  |   32-- 33 Middle Page :0  --   | Right : 32 - 32--en--sess-enreq-en-coming