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.
FAO addresses water scarcity challenges in southwest Iran
Source : Tehran Times  
Date : 2014-11-17
Experts from the Food and Agriculture Organization of the United Nations (FAO) concluded their six-day mission (lasting from 10 to 16 November 2014) to Iran, which included a field visit...
UNDP ranking: Saudi Arabia makes remarkable progress
Source : Arab News  
Date : 2014-11-17
The 2014 Human Development Report by the UN Development Program reported that Saudi Arabia achieved a significant progress by ranking in the 34th globally, compared to its previous 57 rank...
Arabtec's 9-month profit climbs 20.7% to Dh309 million
Source : Khaleej Times  
Date : 2014-11-17
Arabtec Holding’s year-on-year net profit for the first nine months jumped by 20.7 per cent but third-quarter net fell by more than 32 per cent, the company announced on Sunday....
Alargan International Real Estate sponsors 3rd Kuwait Green Building Forum
Source : Kuwait Times  
Date : 2014-11-17
Underlining its commitment to sustainable development, ALARGAN International Real Estate Company, one of the leading real estate development companies in the GCC, is extending its support to the third Kuwait...
Burgan Bank comments on Bank of Baghdad's appointment of Al-Haimus
Source : Kuwait Times  
Date : 2014-11-17
Burgan Bank Group, the regional commercial bank and the second largest commercial bank by assets in Kuwait where it is headquartered, announced that the appointment of Faisal Al-Haimus, as the...
Bahrah Trading Co re-launches Hino Motors Japan
Source : Kuwait Times  
Date : 2014-11-17
Hino Motors Ltd, the largest manufacturer of trucks in Japan and member of Toyota Motor Corporation, was re-launched by Bahrah Trading Company (BTC), one of the Al-Sayer Group Holding Companies....
Nakheel, Souq Residences in agreement
Source : Khaleej Times  
Date : 2014-11-17
Nakheel and Souq Residences, a joint venture between IFA Hotels & Resorts and Istithmar World, have reached an agreement on the Golden Mile mixed-use development on Palm Jumeirah....
Dh500 million Palm project from R Hotels
Source : Khaleej Times  
Date : 2014-11-17
R Hotels, the hospitality management division of Ajman-based R Holding, revealed another major development plan with a Dh500 million ($136.2 million) investment on Palm Jumeirah....
Emirates NBD names private banking head
Source : Khaleej Times  
Date : 2014-11-17
Emirates NBD, a leading bank in the region, has announced the appointment of long-standing employee Saod Obaidalla as head of private banking for the Gulf region....
RAK Ceramics posts Dh2.48billion revenues
Source : Khaleej Times  
Date : 2014-11-17
RAK Ceramics on Sunday said its consolidated revenues for third quarter of 2014 fell by 10.7 per cent quarter on quarter to Dh823.2 million as a result of the company’s...
Detecting and reporting vital to fight food poisoning in Dubai: WHO
Source : Khaleej Times  
Date : 2014-11-17
Dr Peter K. Embarek,senior scientist with the Department of Food Safety and Zoonoses (animal diseases which can be communicated to humans) at the World Health Organisation (WHO) and head of...
Drydocks World hosts Intertanko delegation
Source : Khaleej Times  
Date : 2014-11-17
Drydocks World, international service provider to the maritime, oil, gas and energy sectors, has received a high-level delegation of the Council members from the International Association of Independent Tanker Owners,...
Air Astana relaunches Dubai-Almaty direct service
Source : Khaleej Times  
Date : 2014-11-17
Air Astana has expanded in the Middle East with the re-launch of Dubai-Almaty direct daily flights and its chief executive officer Peter Foster said the emirate is very important for...
ADCB names new chief economist
Source : Khaleej Times  
Date : 2014-11-17
Abu Dhabi Commercial Bank, or ADCB, has appointmented Dr Monica Malik as its new chief economist....
Indian textiles show interest in UAE market
Source : Khaleej Times  
Date : 2014-11-17
The Indian Cotton Textile Show was launched at the Traders Hotel Deira on Sunday and is set to serve as a platform to bring together textile buyers and sellers....
Khalifa Port sets record for trucks turnaround time
Source : Khaleej Times  
Date : 2014-11-17
Khalifa Port has hit a further milestone for port productivity: the truck turnaround time at the port’s ultra-modern semi-automated container terminal has now dropped to just 12 minutes, making the...
Al Marakeb, TIG ink deal
Source : Khaleej Times  
Date : 2014-11-17
UAE boat builder Al Marakeb has entered new waters with the securing of a defence contract to supply Unmanned Surface Vessels, or USVs, to military and commercial organisations across the...
Jordan: A good story!
Source : Saudi Gazette  
Date : 2014-11-17
Jordan seems to be a very tranquil and calm oasis in the middle of a very turbulent and crazy neighborhood....
Power to the underpaid
Source : Saudi Gazette  
Date : 2014-11-17
An Arabic daily recently published an article in which a member of the Eastern Province Chamber of Commerce and Industry criticized the Indian government's decision that called for a minimum...
S. Koreans are coming to town
Source : Arab News  
Date : 2014-11-17
During the past 10 years, the Saudi government initiated many mega projects to modernize the civic infrastructure. Custodian of the Two Holy Mosques King Abdullah personally launched many development projects...
Total 2072 Results in 104 Pages
For more news, views and reports about this topic, please subscribe
to GRC website: www.grc.net
Sat Nov 22, 2014| 29-محرم-1436هـ
Iraq seeks KSA help to return to Arab fold
SR7.8 billion contract signed to modernize Riyadh bus network
Iran still stalling as N-deal deadline looms
Kuwait Airways agrees to buy Boeing 10 jetliners: Al-Roumi
Bahrain envoy back in Doha
UAE banks to freeze 'suspect accounts'
Groups may appeal against inclusion on terror list: Gargash
Gulf seen rejecting Opec cuts to guard market share
World must recognise threat of terrorism: Assad
Oman sign three agreements to join GCC electricity interconnection grid
Top ISIS leader killed in Iraq raid
Markets edge up as investors hunt for bargains
Kuwait labor law offers additional protection to expats - official
Volatile oil prices 'will not affect wealth fund strategy'
Kerry rules out extension of Iran N-deadline
Qatar's GDP grew by 6.3pc: PM
    Newspaper Editorials
UAE an oasis of peace
Kim's threatening ways
Banish apathy!
The elusive nuke deal
    GCC Press Agencies
Day's main stories from the GCC Press Agencies
The US Shale Revolution and the Arab Gulf States
    Bank Reports
GCC Markets Performance – May 2014
Saudi Arabia: Baseline Macroeconomic Forecast 2014-16
    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
Regional Security in the Framework of ASEAN: Potential Lessons for the GCC
GCC-Asia Ties and Collective Security
Perpetuating the Rentier State: Patrimonialism in a Globalized World
    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  |   38-- 38 Middle Page :0  --   | Right : 38 - 38--en--sess-enreq-en-coming