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.
 
UAE leads region in ICT readiness
Source : Khaleej Times  
Date : 2016-07-10
The UAE continues to lead the Arab world in terms of networked readiness with a global 26th ranking, according to the World Economic Forum's Global Information Technology Report that named...
Bahrain hosts workshop for engineering firms
Source : TradeArabia  
Date : 2016-07-10
Bahrain's Ministry of Works, Municipalities Affairs & Urban Planning recently held a training workshop for the prequalification of engineering contracting companies....
SAMA bans CASHU prepaid cards
Source : Saudi Gazette  
Date : 2016-07-10
The Saudi Arabian Monetary Agency (SAMA) has banned the sale of CASHU prepaid cards, which is widely used for online purchases, fearing that the card could be misused for funding...
ME carriers drive global air traffic demand in May
Source : TradeArabia  
Date : 2016-07-10
Middle Eastern carriers registered the strongest year-over-year traffic growth with its capacity increasing 15.6 per cent in May compared to a year ago, according to data released by International Air...
Iran targets export of $1bn fisheries for 2025
Source : Islamic Republic News Agency  
Date : 2016-07-10
Head of Iran Fisheries Organization Hassan Salehi said on Saturday that Iran targets one billion dollars worth export of fisheries for the year 2025....
Islamic bank assets grow to 2.3b rials in 2015: CBO
Source : Oman Tribune  
Date : 2016-07-10
The total assets of Islamic banks and windows went up to 2.3 billion rials in 2015, constituting around 7.5 per cent of the banking system assets....
Al-Falih hopes to benefit from German industrial experience
Source : Saudi Gazette  
Date : 2016-07-10
Minister of Energy, Industry and Mineral Resources Engineer Khaled Al-Falih met with a number of German officials in the government and private sectors here recently....
UAE non-oil foreign trade at Dhs269.5b
Source : Gulf Today  
Date : 2016-07-10
The UAE's direct non-oil trade recorded Dhs269.5 billion during the first quarter of 2016, maintaining almost the same figures achieved in Q1 last year, said the Federal Customs Authority (FCA)....
Sharjah Expo at forefront of global trade shows
Source : Gulf Today  
Date : 2016-07-09
Located in the United Arab Emirates (UAE), Expo Centre Sharjah naturally commands a strategic position at the heart of the region's business and commercial hub....
UAE property market on solid track
Source : Gulf Today  
Date : 2016-07-09
The real estate market of UAE sailed stably in May 2016 and despite some fluctuations, it managed to post positive figures overall....
Czech Airlines starts direct Riyadh-Prague service
Source : Arab News  
Date : 2016-07-09
Czech Airlines, the national carrier of the Czech Republic (CSA), commenced its direct service to Riyadh from Prague on Wednesday....
Global commodities slump has mixed impact on Oman's mining sector
Source : Oman Daily Observer  
Date : 2016-07-09
In a year of mixed results for Oman's burgeoning mining and mineral processing sector, a number of metallic minerals suffered a production slump in 2015 blamed on, among other things,...
Zanganeh blames technical issues for blaze at petrochemical plant
Source : Tehran Times  
Date : 2016-07-09
Oil Minister Bijan Namdar Zanganeh said on Friday that there were only technical reasons for blaze at the Bou Ali Sina Petrochemical Plant in the southwestern port of Mahshahr....
70% shops at Aldar's Al Falah housing community operational
Source : Khaleej Times  
Date : 2016-07-08
Aldar Properties said that with over 70 per cent of its 100 retail units occupied and operational, Al Falah is emerging as a major community destination....
IMF approves $5.3bn standby arrangement for Iraq
Source : tradearabia  
Date : 2016-07-08
The International Monetary Fund said its executive board approved a new three-year, $5.34 billion standby arrangement for Iraq to support Baghdad's efforts to deal with lower oil prices and ensure...
Iran says fire at petchem complex contained
Source : tradearabia  
Date : 2016-07-08
A fire that broke out at Iran's Bu Ali Sina petrochemical refinery complex has been contained, the Iranian oil ministry said on its official website Shana on Thursday....
GCC equities make gains as oil prices rebound
Source : The Peninsula  
Date : 2016-07-08
The GCC equity markets recovered some ground in the second quarter (Q2, 16) as oil prices rebounded. Following a weak start to the year, most markets registered some gains in...
Exxon, Qatar Petroleum look at giant Africa gas deal
Source : tradearabia  
Date : 2016-07-08
Exxon Mobil Corp and Qatar Petroleum have teamed up to look at energy assets in Mozambique, home to some of the biggest natural gas discoveries in a generation, according to...
Dubai Exports joins AUIED platform
Source : Gulf Today  
Date : 2016-07-08
Dubai Exports has been actively involving in Arab and international export development organisations, promoting partnerships while also supporting UAE firms target new export markets successfully....
Five commodities capture 69% of Saudi imports in 2015
Source : Arab News  
Date : 2016-07-08
Five commodities captured more than 69 percent of the Saudi imports whose value exceeded SR530 billion by the end of 2015, according to figures released by the Saudi Customs Department....
Total 694 Results in 35 Pages
  18 
For more news, views and reports about this topic, please subscribe
to GRC website: www.grc.net
Sat Jul 23, 2016| 17-شوال-1437هـ
Yemen's Hadi blasts Houthis for attacks on Saudi border regions
World countries praise Kuwait efforts in Yemeni talks
UAE ambassador praises historical ties with Qatar
US undermines N-deal, fails in Daesh fight: Iran
Saudi women's sports events must follow Shariah laws
Kerry warns of challenge in securing Iraq after IS
Bahrain records 4.5% growth in first quarter
Ministry: Number of scholarships hits 2,500
Gragash: London Quartet on Yemen a step forward
Saudi visitors will be 'fully protected by Turkish govt'
Germany, Canada pledges millions in aid to Iraq
Kuwait sets 15-day deadline to Yemeni parties for reaching peace deal
Iran to add 100MW renewable energy plants by Mar. 2017
US, allies regroup after Daesh attacks
Aramco in SR50bn gas deal
  Op-Ed
Plan priorities
Bach facing his toughest decision as chief of IOC
Yemen talks deadlocked
Sense behind the nonsense from Iraq's foreign minister
More>>  
    Reports
GCC Markets Performance - June 2016
Brexit in the GCC Context…
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
Renewable Energy Policies in the GCC: Challenges and Prospects
Foreign Investments in the GCC and Investments of GCC Countries Abroad
Gulf-European Relations in 2015
    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  |   55-- 55 Middle Page :0  --   | Right : 55 - 55--en--sess-enreq-en-coming