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.
 
Sharjah eyes IT investors from India
Source : Arab News  
Date : 2014-08-14
Sharjah International Airport Free Zone (SAIF Zone) has intensified its efforts to attract more investors from Indian IT sector....
STC maintains leadership in international roaming services
Source : Saudi Gazette  
Date : 2014-08-14
Saudi Telecom Company (STC)'s leadership in international roaming services continues, due to its wide network of regional and international strategic partnerships, where it’s considered as one of the largest companies...
With natural gas byproduct, Iran sidesteps sanctions
Source : Tehran Times  
Date : 2014-08-14
Iran is finding a way around Western sanctions to export increasing amounts of ultralight oil to China and other Asian markets, expanding the value of its trade by potentially billions...
UAE's textile products export to 50 countries
Source : Khaleej Times  
Date : 2014-08-14
The textile industry occupies an important place in the UAE economy as a whole and particularly in Dubai....
Gulftainer selects Nexthink to support growth targets
Source : Khaleej Times  
Date : 2014-08-14
The leading port management and logistics company Gulftainer today announced that it has selected Nexthink through its partner Anzema to support its ambitious growth targets by enhancing its IT infrastructure....
Multi-entry visa boosts Dubai cruise tourism sector
Source : Khaleej Times  
Date : 2014-08-14
A new ruling in the UAE (Cabinet Resolution No. 22 of 2014) which took effect on 1 August 2014, will ensure implementation of a new visa and fees system....
Abu Dhabi airport's first-half passenger traffic rises 19.4%
Source : Khaleej Times  
Date : 2014-08-14
Abu Dhabi International Airport recorded 19.4 per cent year-on-year passenger traffic growth in the first half of 2014 to 9.48 million people as the emirate expanded its route network to...
UAE leads GCC in corporate bond issuances in Q2 of '14
Source : Khaleej Times  
Date : 2014-08-14
The UAE led the corporate bond issuances in the second quarter of 2014 in GCC while the initial public offering (IPO) activity skyrocketed by more than 17 times in the...
Rich spend millions to buy villas on Dubai's Palm Jumeirah
Source : Emirates 24/7  
Date : 2014-08-14
Palm Jumeirah has notched the biggest villa deals in Dubai for the second consecutive quarter in 2014, with investors spending nearly Dh219 million on the six deals, data shared exclusively...
Tender for railway project this month
Source : Times of Oman  
Date : 2014-08-14
Global players with expertise in railway construction from Europe, China, South Korea, Turkey and India are pre-qualified for the prestigious 2,244-km-long Oman National Railway project....
GFH's net profit soars 152pc to $ 10.6 million
Source : Gulf Daily News  
Date : 2014-08-14
Bahrain-based Gulf Finance House (GFH), an Islamic investment bank, has posted a 152 per cent rise in consolidated net profit to $ 10.6 million for the first half ended June...
Fishermen told not to deplete shrimp stocks as season opens
Source : Arab News  
Date : 2014-08-14
The Ministry of Agriculture has announced two periods for this year’s shrimp harvest season in the Red Sea and Arabian Gulf....
Uncivilized behavior of Kuwaiti, Gulf tourists
Source : Kuwait Times  
Date : 2014-08-14
We read in the international, Arab and local press, as well as social media, about the shameful and improper behavior by some Gulf tourists, most of whom are from Saudi...
Savola in talks to buy Kuwait's Americana
Source : Saudi Gazette  
Date : 2014-08-14
Saudi food producer Savola Group said on Wednesday it had begun preliminary talks on a potential acquisition of Kuwait Food Co (Americana) , one of the Middle East's largest food...
Iran imports 34,000 cars, valued at $ 683m, in 4 months
Source : Tehran Times  
Date : 2014-08-14
Iran imported over 34,000 cars, valued at about $ 683 million, in the first four months of the current Iranian calendar year (March 21-July 22)....
Oman exports decline 7.9%
Source : Times of Oman  
Date : 2014-08-14
The Sultanate's total merchandise exports showed a 7.9 per cent fall in the first quarter of 2014 at OMR5,143 million, from OMR5,582.6 million for the same period of last year....
Debt market sees growth rebound in GCC
Source : The Peninsula  
Date : 2014-08-14
The GCC debt markets in 2014 had an active second quarter, particularly in corporate bonds and sukuk....
Tourism added $ 5b to Oman's economy in 2013
Source : Times of Oman  
Date : 2014-08-14
More than 2.1m tourists visited the Sultanate in 2013, according to government figures, up by 7.8 per cent compared to previous year....
Positive outlook seen for Abu Dhabi realty sector
Source : Khaleej Times  
Date : 2014-08-14
The real estate market in Abu Dhabi is stabilising after six months of rising values, which has seen yields eroded, lower loan to value ratios and limited availability of quality...
GCC posts strong IPO activity in terms of volume in Q2
Source : The Peninsula  
Date : 2014-08-14
The initial public offering (IPO) market in the Gulf Cooperation Council (GCC) in the second quarter (Q2) of 2014 started off and ended on a high, with a total of...
Total 1443 Results in 73 Pages
  18 
For more news, views and reports about this topic, please subscribe
to GRC website: www.grc.net
Wed Aug 20, 2014| 23-شوال-1435هـ
Grand Mufti: Terrorism has no place in Islam
OPEC 'unruffled by oil price slide'
Iran is imprisoning dozens unlawfully, claims HRW
JCCI bridges gap between courts and businessmen
Syrian armed groups have anti-aircraft missiles
Inflation in Oman lowest in the GCC
Israel think tank's push to slur Qatar
UAE's non-oil trade hits Dh256 billion
UAE calls for better efforts to protect aid workers
Saudi banks' distressed loans down 4% to SR16bn in Q2
Iraq forces hit IS militants; UN readies aid
Central Bank of Oman chief emphasises importance of insurance coverage
Sponsor countries of Gulf initiative concerned over Houthi's remarks
Abu Dhabi hotel room rates decline 14.2% in June
Kuwaiti MP demands collection of weapons
'Saudi to impose 20% foreign ownership limit on stocks'
    Newspaper Editorials
Modi's volte-face
Aid mission in north Iraq
More>>  
    Opinions
Activate security pacts; GCC alone cannot resist changes
Tough task of salvaging Iraq
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
GCC Currency Union: Necessary Precursors and Prospects
Financial Aspects of GCC Unification Efforts
The Story of Remittance Flows from the GCC Countries
    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  |   41-- 41 Middle Page :0  --   | Right : 41 - 41--en--sess-enreq-en-coming