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.
License for 2 mobile virtual operators
Source : Saudi Gazette  
Date : 2014-04-17
Saudi Arabia’s telecom regulator awarded on Wednesday mobile virtual network operator (MVNO) license to two new companies – Virgin Mobile Saudi Arabia and Jawraa Lebara....
Toyota rents six workshops for its after-sales services
Source : Saudi Gazette  
Date : 2014-04-17
Abdul Latif Jameel Company (ALJ) signed an agreement with Balubaid Company, through which ALJ will rent from Balubaid six large workshops for 15 years, for its after sales services....
Prince Turki opens Riyadh travel fair
Source : Saudi Gazette  
Date : 2014-04-17
The 2014 edition of Riyadh travel fair rolls on at the Four Season Hotel here with Prince Turki Bin Abdullah, Deputy Governor of Riyadh, gracing the occasion on its opening...
428-bed Al-Hammadi Hospital up in Riyadh
Source : Saudi Gazette  
Date : 2014-04-17
Al-Hammadi Development and Investment Company, a closed joint-stock firm, announced on Wednesday the completion of Al-Hammadi Hospital here....
Plans afoot for medical city near Muscat
Source : Oman Tribune  
Date : 2014-04-17
The Ministry of Health is in the process of choosing a project manager for the 570-million-rial medical city to be located between Muscat and North Batinah, Undersecretary for Planning at...
Forum on harmful algal blooms begins
Source : Oman Tribune  
Date : 2014-04-17
An international conference on the impact of harmful algal blooms (HABs), commonly called 'red tides', on desalination plants began at the Muscat InterContinental Hotel on Wednesday....
SMEs get recruitment exception
Source : Oman Tribune  
Date : 2014-04-17
The Public Authority for the Development of Small and Medium Enterprises (PADSME), in agreement with the Ministry of Manpower, decided to exclude SMEs from the ministerial decision to temporarily ban...
Saudi Cement Q1 profit falls
Source : Arab News  
Date : 2014-04-17
Saudi Cement Co. posted a 16 percent drop in first-quarter net profit due to sagging local demand and losses from an associate company....
Alwaleed explores fresh opportunities in Australia
Source : Arab News  
Date : 2014-04-17
Prince Alwaleed bin Talal, chairman of Kingdom Holding Company (KHC), received in his office in Riyadh Andrew Robb, Australian minister of trade and investment and an accompanying delegation....
Wedding exhibition features new designs
Source : Arab News  
Date : 2014-04-17
The 13th International Wedding Exhibition 2014, which was opened with the support of Princess Lateefa bint Abdulaziz at Nayyara Banqueting, Conferences and Exhibition Center in Riyadh, is considered the biggest...
Dubai fragrance trade moves up
Source : Arab News  
Date : 2014-04-17
the export promotion agency of the Department of Economic Development (DED), government of Dubai — has released a report on the fragrances, beauty and cosmetics sectors in Dubai as part...
Sahara Q1 net profit drops 20.3%
Source : Arab News  
Date : 2014-04-17
Saudi Arabia’s Sahara Petrochemical, currently in talks with Sipchem over a possible merger, posted a 20.3 percent drop in first-quarter net profit, citing lower sales for the decline....
Travel industry forges new links at Riyadh fair
Source : Arab News  
Date : 2014-04-17
Riyadh Travel Fair (RTF), a significant annual event where the leading travel and tourism companies from around the world gathers with exhibitors representing tourist promotion authorities at various levels under...
First Iranian stock brokerage center opens in London
Source : Tehran Times  
Date : 2014-04-17
The first Iranian stock brokerage center in London has been inaugurated, ISNA reported on Wednesday....
QDB, Qatar Shell offer seven new business opportunities to SMEs
Source : Gulf Times  
Date : 2014-04-17
Qatar Development Bank (QDB) and Qatar Shell have revealed seven new 'business opportunities' for Small and Medium-sized Enterprises (SMEs) during the second instalment of the annual 'SME Business Opportunity Workshop'...
Iran expects fifth payment under deal
Source : The Peninsula  
Date : 2014-04-17
Iran expects to get a fifth instalment this week of previously blocked overseas funds, a senior official was quoted as saying, a payment that would confirm Tehran's compliance with an...
Saudi Arabia inflation: Upside risks may emerge in H2
Source : Arab News  
Date : 2014-04-17
Saudi CPI inflation fell for the fourth consecutive month in March, reaching 2.6 percent year-on-year (y-o-y) in March compared with 2.8 percent in February, according to a report released on...
Time inopportune for expat ownership of real estate in Kuwait: Forum
Source : Kuwait News Agency  
Date : 2014-04-17
Time is not ripe to allow expatriate ownership of real estate in Kuwait, said chairman of Kuwait Real Estate Association Tawfiq Al-Jarrah on Wednesday....
Qatar to establish five bodies to push exports
Source : The Peninsula  
Date : 2014-04-17
Qatar will set up five sectoral commissions to support local companies to facilitate exports and participate in international trade and investments....
Dubai's hospitality sector outdoes regional growth
Source : Khaleej Times  
Date : 2014-04-17
Overall hospitality market recorded an average occupancy rate of 87 per cent in January 2014, a slight drop from January 2013 of 2.6 per cent....
Total 2140 Results in 107 Pages
For more news, views and reports about this topic, please subscribe
to GRC website: www.grc.net
Wed Apr 23, 2014| 22-جماد ثاني-1435هـ
'Farcical' Syrian election will undermine political solution
Saudi Arabia captures 37% of GCC budget surpluses
Iran drafting complete account of past nuclear work
Saudi Health Minister Al-Rabeeah relieved of position
Kuwait central bank chief warns against rising govt expenditure
Qatar, South Korea consider MoU to boost financial, investment co-operation
Yemen, US mount 'unprecedented' air attacks on Al Qaeda
Aldar Properties unveils Dh5 billion projects
12 jailed for life over spying 
in Bahrain
Qatar Rail awards 'largest-ever' single-project insurance policy
Attacks kill 19 in Iraq as election nears
Dubai on track for 'capital of Islamic economy'
US examining use of toxic chemical in Syria
Yemen's external debt increases slightly in February
Rafsanjani calls for development of Iran-Saudi ties
Kuwaiti cabinet approves council of governorates lineup
    Newspaper Editorials
America's Asian concerns
Ballot in Syria
The closing of Abu Ghraib and the U.S. failure in Iraq
The Cost Of Silence
    GCC Press Agencies
Day's main stories from the GCC Press Agencies
The Legal Classification of the Armed Conflicts in Syria, Yemen and Libya
    Bank Reports
Weekly Economic Update: Gulf One Investment Bank
GCC Markets Performance – February 2014
    GRC Analysis
Challenging Times for Saudi Foreign Policy
Saudi-Thai Relations
Saudi-Singapore 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
The EU and the GCC in Global Governance: Limitations and Future Potential
Saudi Arabia’s Legal Framework of Migration
Kuwait’s Legal Framework of Migration
    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  |   40-- 40 Middle Page :0  --   | Right : 40 - 40--en--sess-enreq-en-coming