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.
 
Opec focus moves from freeze to output ceilings as unity sought
Source : Gulf Times  
Date : 2016-09-10
As Opec officials shuttle between Tehran, Moscow and Paris in preparation for an informal meeting in Algiers, the focus of their efforts appears to be moving from a production freeze...
Iran oil output stagnates amid Opec bargaining
Source : tradearabia  
Date : 2016-09-09
Iran's steep oil output growth has stalled in the past three months, new data showed, suggesting Tehran might be struggling to fulfil its plans to raise production to new highs...
Qatari Investors Group to replace Al Meera in QSE benchmark index
Source : Gulf Times  
Date : 2016-09-09
Qatari Investors Group will replace Al Meera Consumer Goods Company in the Qatar Stock Exchange’s main barometer and Mannai Corporation has been shifted to the consumer goods and services segment...
Tokyo interested in investment in Chabahar port
Source : Islamic Republic News Agency  
Date : 2016-09-09
'Japan is interested in helping India for investment in Chabahar and developing the port,' Masayoki Taga said during a visit to New Delhi on Thursday....
Iran's 5-month steel exports up 51% yr/yr
Source : Tehran Times  
Date : 2016-09-09
Iran's exports of steel ingots and steel products experienced a 51 percent hike in the first five months of the current Iranian calendar year (March 20-August 21) compared to the...
Nakheel launches Ibn Battuta Residences
Source : Gulf Today  
Date : 2016-09-09
Master developer Nakheel unveiled Ibn Battuta Residences, a new, landmark twin-tower complex with 531 luxury apartments, to be built next to Ibn Battuta Mall in Dubai....
Dubai Property Show heads to Mumbai again
Source : Gulf Today  
Date : 2016-09-09
Geared by the successful Mumbai exhibition last year that raked in approximately Dhs400 million into Dubai real estate and attracted almost 6000 visitors, Dubai Property Show (DPS) is all set...
Prince Mohammed's visit puts KSA on world stage
Source : Arab News  
Date : 2016-09-09
The success of the Far East visit of Deputy Crown Prince Mohammed bin Salman is clear. It culminated in his important participation in the G20 summit in Hangzhou....
Experts focus on future of sustainable energy in Abu Dhabi
Source : Gulf Today  
Date : 2016-09-09
The selection of winners of the 2016 Zayed Future Energy Prize, the UAE's global awards for pioneers of renewable energy and sustainable development, got underway with a meeting of the...
Al Habtoor chief welcomes Dutch firms to invest in UAE
Source : Gulf Today  
Date : 2016-09-09
Khalaf Ahmad Al Habtoor, Chairman, Al Habtoor Group welcomed Hans Sandee, the new Consul General of the Kingdom of the Netherlands in Dubai....
Moody’s upgrades DP World rating
Source : Gulf Today  
Date : 2016-09-09
Moody's Investor Service recently upgraded the ratings of DP World Limited's and Jebel Ali Free Zone to Baa2 from Baa3. The rating outlook is stable....
Foreigners buy Dhs862.8m shares on DFM
Source : Gulf Today  
Date : 2016-09-09
Foreign investors purchased Dhs862.8 million worth of shares on the Dubai Financial Market (DFM) and sold Dhs880 million over the week, DFM said on Thursday....
Dubai airport expects 1 million passengers on Eid
Source : Gulf Today  
Date : 2016-09-09
Eid Al Adha holiday traffic will top one million passengers at Dubai International Airport over the next four days as travellers seek a quick escape as summer draws to a...
Sharjah's largest mall project has unique traits
Source : Gulf Today  
Date : 2016-09-09
During its 2nd day participation at the Cityscape Global 2016, Tilal Properties, Sharjah's pioneering real-estate and property developer and the first to develop properties with freehold and free-lease policies in...
Booming education sector creates opportunities in alternative investments
Source : Saudi Gazette  
Date : 2016-09-09
The massive increase in demand for private schools is stimulating interest from real estate investors, developers and builders seeking 'alternative investments' as the supply of quality assets in more traditional...
Tadawul index up 0.6% but volume dwindles
Source : Arab News  
Date : 2016-09-09
Petrochemical shares supported Saudi Arabia's stock index on Thursday, benefiting from a bounce-back in crude oil prices, while Qatar underperformed as investors sold shares which had risen over the past...
New e-system to speed up health insurance approval
Source : Arab News  
Date : 2016-09-09
The Council of Cooperative Health Insurance (CCHI) has embarked on the development of a new electronic system aimed at enhancing the health insurance industry, and raise the level of customer...
33,000 training hours provided by STC for mobile sector Saudization
Source : Arab News  
Date : 2016-09-09
The Saudi Telecom Company (STC) has finished its training program for the nationalisation of the workforce in the sale and maintenance of mobile phones and its affiliated sectors....
Islamic finance sees modest growth amid oil-price woes
Source : Saudi Gazette  
Date : 2016-09-09
In the current operating environment, S&P Global Ratings sees some opportunities for the future growth of Islamic finance. There are a certain number of prerequisites, however....
Saudi Oger faces huge debt restructuring as rescue talks collapse
Source : The Peninsula  
Date : 2016-09-09
The Saudi Arabian government has ended talks aimed at saving construction giant Saudi Oger, which is now facing the prospect of a multi-billion-dollar debt restructuring to stave off collapse, according...
Total 663 Results in 34 Pages
  18 
For more news, views and reports about this topic, please subscribe
to GRC website: www.grc.net
Thu Sep 29, 2016| 26-ذو الحجة-1437هـ
Ahmadinejad says will not run for president next year
Kuwait 'ready to host' a fresh intra-Yemen talks
Oman-Iran gas pipeline project 'in final stages'
Rouhani: Iran presses ahead with assisting Syria
UAE stresses keenness on women rights, gender equality
US concerned over reports of citizens detained by Houthis in Yemen
GCC budget deficits could cross $ 153bn in 2016
'JASTA to dash trust between US and allies'
UAE to boost trade ties with New Zealand
Senior French diplomat calls on Iran to be 'responsible neighbor'
Turkey, Iran want 'gradual' free trade deal
Syrian government launches Aleppo ground attack
In battle for Iraq's Mosul, many forces with many motives
Erdogan holds talks with al-Attiyah
ِAl-Qaradaghi call 'Friday of anger' for Aleppo
  Op-Ed
Critical time for oil producers to clinch a deal as glut piles up
Hillary shines, Trump whines
JASTA: Barking up the wrong tree
Syria and the American elections
More>>  
    Reports
GCC Banking Sector Quarterly - 2Q16
GCC Markets Performance - July 2016
More>>  
    GCC Press Agencies
Day's main stories from the GCC Press Agencies
    GRC Analysis
The GCC and the EU's New Global Strategy
For the GCC States, a different Europe to deal with
GCC-Russia Relations: Lot of Rhetoric but Little Substance
    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
Salalah: The Economic Development and Spatial Fragmentation of a Globalized Port City in Southern Oman
Domestic Ramifications of the JCPOA for Iran
GCC and Russia: A View from Moscow
    GRC Newsletters/Bulletins

Enter your email to get the Newsletter
Go
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  |   45-- 45 Middle Page :0  --   | Right : 45 - 45--en--sess-enreq-en-coming