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.
 
Kuwait honors vows against money laundering, terror finance -- Min.
Source : Kuwait News Agency  
Date : 2015-03-01
Minister of Finance Anas Al-Saleh said here on Saturday the State of Kuwait has fulfilled its earlier undertakings to promote the mechanisms of fighting money laundering and terrorist financing, citing...
Al-Mansoori: SMEs are cornerstone of any economy
Source : Arab News  
Date : 2015-03-01
Investments in small and medium enterprises (SMEs) will be a key topic of discussion at the Annual Investment Meeting (AIM) 2015, to be held in Dubai from March 30 to...
Sudan delegation to explore investment opportunities for Saudi investors
Source : Arab News  
Date : 2015-02-28
A high-level Sudanese delegation headed by Investment Minister Mustafa Osman Ismail arrived on Friday to explore investment opportunities for Saudi investors in Sudan that will pave the way for food...
QC visits beneficiary farmers in Niger
Source : The Peninsula  
Date : 2015-02-28
Qatar Charity (QC) visited farmers in Niger who benefitted from its support last year. A delegation from the Nigerian government and a representative of the United Nations Food and Agriculture Organisation...
JCCI launches career training program for youth in 13 fields
Source : Arab News  
Date : 2015-02-28
The Jeddah Chamber of Commerce and Industry (JCCI) held a career training program for Saudi job seekers in 13 career fields at Ismail Abu Dawood Hall in Jeddah on Wednesday....
'Difficult to restore all 4,000 Asir villages'
Source : Arab News  
Date : 2015-02-28
Muhammad Al-Umrah, the director general of Saudi Commission for Tourism and Antiquities (SCTA) in Asir, has admitted that it is very difficult to renovate and restore the nearly 4,000 historical...
Saleh should be held to account
Source : Asharq Al-Awsat  
Date : 2015-02-28
A UN probe has stated that former president of Yemen Ali Abdullah Saleh amassed a fortune of up to 60 billion US dollars during his time in power. It is...
Governments facing test of green promises amid low oil prices
Source : Gulf Times  
Date : 2015-02-28
Governments say they are still pushing towards cleaner energy despite low oil prices, but their resolve will be tested in the coming months when they have to outline their green...
Kuwait is seeking extradition MoU with UK: official
Source : Kuwait News Agency  
Date : 2015-02-28
The State of Kuwait is seeking to sign a memorandum of understanding with the United Kingdom on extradition of criminals namely convicts of public funds' embezzlement, a senior Kuwaiti official...
Iran-Pakistan gas pipeline not abandoned: Minister
Source : Islamic Republic News Agency  
Date : 2015-02-28
Commerce Minister Khurram Dastgir Khan on Friday said that Pakistan has not abandoned the Iran-Pakistan gas pipeline project and the country will pursue it once international sanctions are removed that...
GCC railway link worth $15.4bn
Source : Gulf Daily News  
Date : 2015-02-28
The overall cost of the planned GGC railway infrastructure is estimated to top $15.4 billion....
Dubai ripple effect felt in Northern Emirates real estate
Source : Emirates 24/7  
Date : 2015-02-28
The relocation of budget conscious tenants from Sharjah to Dubai has slowed down, following the softening of rents in Dubai, according to Asteco....
Etihad pursues flight expansion in 2015
Source : Emirates 24/7  
Date : 2015-02-28
Abu Dhabi-based Etihad Airways, one of the world’s fastest-growing airlines, is planning to launch more flights to Australia and extend operations to other countries as part of an expansion plan...
Union National Bank honours long-serving employees
Source : Gulf Today  
Date : 2015-02-28
Sheikh Nahyan Bin Mabarak Al Nahyan, Minister of Culture, Youth and Community Development, and Chairman of UNB recognised and felicitated more than 250 long serving employees of Union National Bank...
Dubai property market witnessing robust demand from Indian buyers
Source : Gulf Today  
Date : 2015-02-28
A leading UAE property developer Azizi Developments has been receiving overwhelming response from foreign investors to purchase property in the UAE during their active participation in the ongoing high-profile Times...
Abu Dhabi Ports welcomes two AIDA vessels
Source : Gulf Today  
Date : 2015-02-28
Abu Dhabi Ports is experiencing busy days at Zayed Port’s cruise terminal with visiting cruise passengers making the most of the attractions on offer in Abu Dhabi....
Livestock festival opens today
Source : Gulf Times  
Date : 2015-02-28
The fourth edition of Qatar annual livestock (sheep and goat) festival, Halal Qatar, will be launched at Katara, the Cultural Village, today....
Two Qatari artists join Venice expo
Source : The Peninsula  
Date : 2015-02-28
Qatari artists Jameela Al Shraim and Abdulrahman Al Dorani are participating in a group exhibition ‘North’ in Venice, Italy....
Jewellery, watches expo ends today
Source : The Peninsula  
Date : 2015-02-28
The 12th Doha Jewellery and Watches Exhibition has attracted some of the world’s iconic brands in the high-end jewellery and watch manufacturing industry....
Doha Metro project management deal awarded
Source : The Peninsula  
Date : 2015-02-28
Qatar Railways Company has awarded the Louis Berger Egis Rail Joint Venture (LBER JV) project management of the elevated and at grade sections of Doha Metro. The contract concerns extensions...
Total 1865 Results in 94 Pages
  18 
For more news, views and reports about this topic, please subscribe
to GRC website: www.grc.net
Fri Mar 6, 2015| 15-جماد أول-1436هـ
Saudi-Pakistani ties unshakable
Kuwaiti envoy, Albanian minister mull agricultural cooperation
Kerry, Iran FM in new nuclear talks
Oman's PDO raises crude output
Terrorist acts don't represent any religion, says Gargash
Al-Naimi expects oil price to stabilize
Houthi stance disappoints UN envoy
Muslim visitors choose UAE as top Mideast destination
British ex-marine killed fighting Daesh in Syria
GCC rail completion deadline seen at 2020
Kuwait urges North Korea to cooperate with IAEA
Low oil price to hit GCC banks' profits
Qatar, Turkey review programmes to mark 2015 Year of Culture
Oil slump impact 'limited' on Qatar financial sector: central bank chief
Iran, UN atomic watchdog to meet in Tehran on March 9
Etisalat to invest Dh4 billion in 2015
    Newspaper Editorials
Israeli stranglehold
Sheer hypocrisy
More>>  
    Opinions
Mr. Netanyahu: Iran is not just your enemy
Joint Arab force is inevitable
More>>  
    GCC Press Agencies
Day's main stories from the GCC Press Agencies
    Reports
Iranian Nuclear Program Negotiations : What Next?
More>>  
    Bank Reports
Saudi Arabia Banking Sector
GCC Equity Monitor - Global
More>>  
    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
Evaluating Financial Literacy Training for Migrant Workers in the Gulf
The Socio-Political Background and Stakes of ‘Saudizing’ the Workforce in Saudi Arabia: the Nitaqat Policy
Current Progress in the Nationalisation Programmes in Saudi Arabia
    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:0  |   06-- 06 Middle Page :0  --   | Right : 06 - 06--en--sess-enreq-en-coming