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.
Need staff housing? Here's one from Dubai Properties
Source : Khaleej Times  
Date : 2016-11-21
Dubai Properties on Sunday announced a new staff housing development, Rahaba Residences in Dubailand, targeting Dubai's growing business and industry sectors....
Why high-end rents have fallen in Dubai
Source : Khaleej Times  
Date : 2016-11-21
As budget-conscious tenants look for cheaper alternatives or downgrade to smaller units to get better value for money, mid-to-high end residential segment continues to witness drop in rental rate while...
KSA ranked 1st in MEA for ransomware attacks
Source : Saudi Gazette  
Date : 2016-11-21
Symantec's Internet Security Threat Report (ISTR), Volume 21, revealed an organizational shift by cybercriminals: They are adopting corporate best practices and establishing professional businesses in order to increase the efficiency...
Majority of UAE consumers less committed with favorite retailers
Source : Saudi Gazette  
Date : 2016-11-21
Global loyalty marketing agency ICLP revealed that the majority of UAE consumers are now in less committed relationships with their favorite retailers than ever before, with only 5% feeling devoted...
Key Tadawul index hit by profit-taking
Source : Arab News  
Date : 2016-11-21
Saudi Arabia's Tadawul All-Share Index retreated 0.9 percent to 6,570 points, pulling away from technical resistance on the July peak of 6,703 points. The index is still up 16.3 percent...
Saudi market 'reacting positively to liquidity injection measures'
Source : Arab News  
Date : 2016-11-21
The Saudi government's recent "monetary stimulus" measures are expected to fuel broader economic activity in the Kingdom, according to analysts....
Sri Lanka keen to attract Qatari investment
Source : The Peninsula  
Date : 2016-11-21
Sri Lanka is keen on seeking Qatari investment in tourism, power and health sectors, said Rauff Hakeem, Minister of City Planning and Water Supply, Sri Lanka....
Iraq to offer new proposals for Opec oil accord
Source : tradearabia  
Date : 2016-11-21
Iraq will offer three new proposals at the Opec meeting in Vienna, Austria on November 30 to discuss implementing an Opec accord to cut output, a senior government official said....
Iran inks oil deals with 3 Russian companies
Source : tradearabia  
Date : 2016-11-21
National Iranian Oil Company (NIOC) has signed agreements with three leading Russian oil companies for bilateral cooperation, a report said....
Acwa chosen for new solar project in Morocco
Source : tradearabia  
Date : 2016-11-21
Masen, a leading force for renewable energy in the Middle East region, has selected of Acwa Power (leader) and Chint (technical member) to design, finance, construct, operate and maintain its...
Qatar interiors market banks on $22.7bn worth of projects
Source : The Peninsula  
Date : 2016-11-21
USG Boral ME, the renowned manufacturer of interior finishing products, has begun production of metal ceiling panels from its Dammam factory in Saudi Arabia, the newest and latest plant for...
Saudi investors in Sudan to gain from business center at embassy
Source : Arab News  
Date : 2016-11-21
A separate Business Center at the Saudi Embassy in Sudan helps citizens and Sudanese businessmen to promote bilateral trade and investment between the two countries, said Ali bin Hassan Jaafar,...
Riyadh pays $10.7b dues to companies
Source : Oman Tribune  
Date : 2016-11-21
Saudi Arabia's government has made payments of 40 billion riyals ($10.7 billion) that it owed to private sector companies, according to a report quoting a senior construction industry executive as...
Oman to divest 49 per cent stake in Muscat Electricity
Source : Times of Oman  
Date : 2016-11-21
Oman government plans to disinvest 49 per cent stake in state-owned Muscat Electricity Distribution Company (MEDC) by way of a combination of private placement and initial public offering....
DED, MCI to strengthen business councils
Source : Gulf Today  
Date : 2016-11-21
The Department of Economic Development (DED) in Dubai has signed a Memorandum of Understanding with MCI Middle East, a global consulting company, to work together on developing strategies for more...
Qatar-China trade reaches QR21.5bn in 2015
Source : The Peninsula  
Date : 2016-11-21
The bilateral trade between Qatar and China reached QR21.5bn in 2015. The trade between the two countries has reached QR17.7bn so far in 2016 said Li Chen, Chinese Ambassador to...
Sizable gas allocation for Orpic's LPIC project in Oman
Source : Oman Daily Observer  
Date : 2016-11-21
The Omani government has allotted 3 million standard cubic metres per day (mmscm3/d) of natural gas as feedstock for the $6.5 billion Liwa Plastics Industrial Complex (LPIC) project currently under...
Bank loans to KSA public and private sector reach SR1.43 trillion
Source : Arab News  
Date : 2016-11-21
The credit situation in Saudi banks is still on the rise despite the strain on liquidity in the financial system....
Iran optimistic on OPEC production cuts after Barkindo visit
Source : Tehran Times  
Date : 2016-11-21
Iranian Oil Minister Bijan Namdar Zanganeh said he's optimistic that OPEC members will agree to proposed production cuts at a meeting in Vienna later this month....
Kingdom of Saudi Arabia in 2075
Source : Saudi Gazette  
Date : 2016-11-19
The title of this article was taken from the title of a two-volume 600-page study written by Abdulaziz Ibrahim Al-Haqbani, an economic expert and a businessman....
Total 787 Results in 40 Pages
For more news, views and reports about this topic, please subscribe
to GRC website: www.grc.net
Tue Dec 6, 2016| 06-ربيع أول-1438هـ
Yemen forces prepare assault on Houthis near key strait
Kuwait supports IAEA's role in achieving peaceful world
Islamic State strikes back to slow Iraqi forces in Mosul
GCC influencers urge support for Syrian refugees
Bahrain court upholds three bomb blast death sentences
A warm UAE welcome for the Saudi monarch
Larijani rails against Washington for sanctions renewal push
Inter-trade in GCC surges to $115bn
OPEC deal has potential to balance oil market
Qatar Emir to welcome King Salman; visit to 'consolidate ties'
Ties with Qatar very strong: China envoy
Brunei-Oman discuss optimisation in times of low oil prices
Carter says US military needs to remain in Iraq
GCC summit key to face challenges - Bahraini MPs
Saudi-Peruvian cooperation accord in the works
Rouhani submits $486 billion budget bill to Majlis
Assad forces tell opposition: Leave or die
Protect endangered cultural heritage
Stiffer penalties needed to make UAE roads safe
A warm UAE welcome for the Saudi monarch
NBK Report on oil markets
GCC Banking Sector Quarterly - 2Q16
    GCC Press Agencies
Day's main stories from the GCC Press Agencies
    GRC Analysis
The Benefits of NATO-GCC Strategic Ties
The GCC and the EU's New Global Strategy
For the GCC States, a different Europe to deal with
    GRC Commentary
Climate COP 22 in Marrakech Important for the Region
Earth Day 2016: The Promised Day
An Evolving Saudi-US Relationship
    GRC Press Release
Gulf Research Center press releases to the media
    GRC Publications
Sustainable Development Goals: Challenges and Opportunities for the GCC Countries
Salalah: The Economic Development and Spatial Fragmentation of a Globalized Port City in Southern Oman
Domestic Ramifications of the JCPOA for Iran
    GRC Newsletters/Bulletins

Enter your email to get the Newsletter
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  |   35-- 35 Middle Page :0  --   | Right : 35 - 35--en--sess-enreq-en-coming