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.
Qatar businesswomen meet to open Tuesday
Source : The Peninsula  
Date : 2014-12-14
The 5th Qatar International Businesswomen Forum, jointly hosted by the Qatari Businesswomen Association and Interactive Business Network under the patronage of H H Sheikha Jawaher bint Hamad bin Suhaim Al...
QP to host 9th edition of IPTC next year
Source : The Peninsula  
Date : 2014-12-14
Qatar Petroleum will serve as the host organisation for the 9th edition of International Petroleum Technology Conference (IPTC) to be held here in December 2015, according to a press statement...
Qatar highlights opportunities for Swiss investors
Source : The Peninsula  
Date : 2014-12-14
Qatar is set to launch huge investment projects in all fields as part of preparations for hosting the 2022 FIFA World Cup and development projects, Qatar's Permanent Representative in Geneva,...
Qaderoon supports rights of persons with disability to work
Source : The Peninsula  
Date : 2014-12-14
Qaderoon Business Disability Network’s celebrated in the company of the network's members, partners and guests the occasion of the International Disability Day at the Jeddah Chamber of Commerce and Industry,...
flydubai adds 3 new routes
Source : Saudi Gazette  
Date : 2014-12-14
Dubai-based flydubai announced the addition of three new routes to its growing network. Flights to Chennai, Hargeisa and Nejran will commence in the first quarter of 2015, further expanding the...
Schneider showcases latest smart grid solutions at SASG '14
Source : Saudi Gazette  
Date : 2014-12-14
Schneider Electric, a global specialist in energy management, is set to showcase its latest Smart Grid solutions at the two-day Saudi Arabia Smart Grid Conference and Exhibition (SASG 2014) that...
Mobily expands coverage of services
Source : Saudi Gazette  
Date : 2014-12-14
Mobily has delivered 60 percent of the population gatherings to be covered in the Universal Service Fund (VII and VIII) projects signed with the CITC to develop 31 provinces...
First international hotel to open in Diplomatic Quarter
Source : Saudi Gazette  
Date : 2014-12-14
Dur Hospitality Company (public company listed in the Saudi stock market) signed an agreement with Marriott International, Inc. to operate a 80-unit Marriott Hotel and a 140-unit Marriott Executive Apartments,...
Etihad Airways adds Dallas/Fort Worth as 6th destination to US
Source : Saudi Gazette  
Date : 2014-12-14
Etihad Airways, the national airline of the United Arab Emirates, has doubled its network in the US within the last 12 months with the addition of flights to Dallas/Fort Worth,...
Zamil Steel Vietnam bags SR15m contract for refinery project
Source : Saudi Gazette  
Date : 2014-12-14
Zamil Steel Buildings Vietnam Co. Ltd., a subsidiary of Zamil Industrial Investment Co. (Zamil Industrial), was recently awarded a SR15 million ($4 million) contract for the Nghi Son Refinery project...
Oil market free fall unbridled
Source : Saudi Gazette  
Date : 2014-12-14
The carnage continues! Markets are in free fall. Benchmark US oil price dropped this week below $60 a barrel for the first time since July 2009, whereas Brent for January...
Aafaq wins best finance provider award
Source : Arab News  
Date : 2014-12-14
Specialized in Islamic finance solutions and e-governance, Aafaq Islamic Finance has won the award for the best finance establishment in 2014. CPI Financial presented it during the annual award ceremony...
Shoura criticizes monopolies
Source : Arab News  
Date : 2014-12-14
Members of the Shoura Council have strongly criticized merchants who monopolize the retail, real estate and food sectors. They warned against such practices, which make citizens' lives harder, and oust...
New technology to help prevent auto accidents
Source : Arab News  
Date : 2014-12-14
With the goal of eliminating traffic fatalities and injuries, a new communicating radar cruise control (CRCC) feature allows preceding and following vehicles to maintain safe distance between one another on...
Auto firms set to showcase latest technology at show
Source : Arab News  
Date : 2014-12-14
The 36th edition of the Saudi International Motor Show 2014 (SIMS) gets ready to kick off Monday at Jeddah Center for Forums & Events....
Top Mideast sukuk fund manager prepares for less returns in 2015
Source : Gulf Times  
Date : 2014-12-14
The Middle East and Africa's best-performing fund manager for Islamic bonds says average returns will slip next year as interest rates rise....
Omani banks' total assets increase 9.7% to 24.5b rials in Oct
Source : Oman Tribune  
Date : 2014-12-14
The Sultanate's gross domestic product (GDP) at current prices grew at a modest pace of 3.7 per cent during the first half of 2014 compared to the corresponding period in...
SMEs sector garners major share in DHL business
Source : Gulf Daily News  
Date : 2014-12-14
Bahrain's small and medium enterprise (SME) segment has garnered a significant share in global logistics major DHL's business in the kingdom, which according to the company's top official is a...
Dubai huge private capital inflows augur strong opportunities
Source : Saudi Gazette  
Date : 2014-12-14
MEED has announced the date of the second edition of Destination Dubai 2020 conference, and has released a Dubai 2020 report outlining the critical factors shaping the Emirate's economy in...
GCC energy subsidy lowest in Qatar at 5.5% of GDP: StanChart
Source : Gulf Times  
Date : 2014-12-14
Energy subsidy in the GCC region is the lowest in Qatar at 5.5% of the country's gross domestic product, a new report has shown....
Total 2069 Results in 104 Pages
For more news, views and reports about this topic, please subscribe
to GRC website: www.grc.net
Thu Dec 18, 2014| 25-صفر-1436هـ
Iranian FM: 'positive steps' taken to reach agreement with P5+1 group
'Massive' spending to continue despite 50% oil price drop
Iraq seeks a year's deferral on Gulf War reparations
Shaikh Mohammed says financial sector primary driver of development
Bahrain-Britain army pact to boost security
Kuwait: Oil prices will improve in 2nd half of 2015
Houthis consolidate control
Qatar scientific R&D outlay tops GCC
Saudi Shoura Council suggests training for errant Haia men
Kurdistan oil exports could total 800,000 bpd in '15
Saudi-Bahrain ties 'stronger than ever'
Brent forecast at $ 83 in 2015 not to alarm GCC oil majors
Turkey and Iran differ on Syria, call for dialogue
UAE Economic Outlook 2015 forum concludes
Stop this madness: Bahrain
Kuwait to participate in Islamic conf. of higher education ministers in Rabat
    Newspaper Editorials
Qatar becomes a model for progress and prosperity
Punishing Putin
Thanks to foxes of money and oil, Al-Assaf and Al-Na'eemi
Unrealistic expectations
    GCC Press Agencies
Day's main stories from the GCC Press Agencies
The US Shale Revolution and the Arab Gulf States
    Bank Reports
GCC Markets Performance – May 2014
Saudi Arabia: Baseline Macroeconomic Forecast 2014-16
    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
Ethnography, Anthropology and Migration to the Arabian Peninsula: Themes from an Ethnographic Research Trajectory
Can the EU Still Inspire Integration in the Gulf?
Security Dynamics of East Asia in the Gulf Region
    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  |   39-- 39 Middle Page :0  --   | Right : 39 - 39--en--sess-enreq-en-coming