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.
 
Emaar Malls net profit hits Dhs1.021 billion
Source : Gulf Today  
Date : 2017-08-07
Emaar Malls, the shopping malls and retail business majority-owned by Emaar Properties, recorded a net profit of Dhs1.021 billion ($ 278 million) in the first-half (January to June) of 2017....
Ajman Free Zone to open new offices in 5 countries
Source : Khaleej Times  
Date : 2017-08-07
The Ajman Free Zone has identified five new key markets where it will set up hub offices this year as part of its global investor outreach strategy....
Depa H1 profits up by a whopping 484%
Source : Khaleej Times  
Date : 2017-08-07
Interior solutions firm Depa Limited's net profits in the first half of 2017 jumped 484 per cent to Dh113.3 million from Dh19.4 million in the corresponding period last year on...
Real estate leads economic activity in Dubai
Source : Khaleej Times  
Date : 2017-08-07
The real estate sector has grown into a significant component of the economy in Dubai and the number of companies engaged in real estate and related activities in Dubai has...
Bahrain's non-oil sector growth accelerates to 4.4% in 1Q 2017
Source : Saudi Gazette  
Date : 2017-08-07
Growth in the non-oil sector of Bahrain's economy reached 4.4% in the first quarter of 2017, up from 3.7% during 2016, according to the Bahrain Economic Quarterly published by the...
Majid Al Futtaim announces $116.8 million City Centre Sohar in Oman
Source : Arab News  
Date : 2017-08-07
Shopping mall operator and retail firm Majid Al Futtaim has announced plans for a $116.8 million (SR438 million) shopping center in the Omani city of Sohar....
Dubai Mall attracts 39m shoppers in first half as profits at parent group tick up
Source : Arab News  
Date : 2017-08-07
Emaar Malls said second-quarter profit inched up as its flagship mall attracted 39 million visitors in the first six months of the year....
Tadawul outperforms regional markets
Source : Arab News  
Date : 2017-08-07
The Tadawul All Share Index (TASI) edged up on the back of modest gains in the banking sector on Sunday while Egypt imitated world markets’ strong finish at the end...
New York wants Saudi Aramco and other Gulf IPOs
Source : Arab News  
Date : 2017-08-07
The New York Stock Exchange, the world’s biggest stock market, has launched a campaign to convince Middle East companies that it is the best place for big initial public offerings...
QNB receives approval to provide UK Home Finance services to individuals
Source : The Peninsula  
Date : 2017-08-07
QNB, the largest financial institution in the Middle East and Africa, has announced that its London branch received the approvals of the Prudential Regulation Authority and the Financial Conduct Authority...
Iran, Ukraine review agro-economic ties
Source : Tehran Times  
Date : 2017-08-07
In a Saturday meeting in Tehran, Iranian Agriculture Minister Mahmoud Hojjati and Ukrainian First Vice Prime Minister Stepan Kubiv discussed ways to expand cooperation in the areas of economy and...
Iraq secures $195m Japan loan for electricity sector
Source : TradeArabia  
Date : 2017-08-07
Japan has agreed to lend Iraq up to $195 million for a project to help repair a thermal power station in the southern province of Basra, an Iraqi government statement...
Shurooq, Shams discuss future growth
Source : Gulf Today  
Date : 2017-08-07
In the presence of Sheikh Sultan Bin Ahmed Al Qasimi, Chairman of the Sharjah Media Council; Dr Khalid Omar Al Midfa, Chairman of the Sharjah Media City (Shams) met with...
Spanish-Korean consortium scoops $2.75 billion Duqm Refinery contract prize in Oman
Source : Oman Daily Observer  
Date : 2017-08-07
The consortium of Spanish-based international general contractor Tecnicas Reunidas and South Korea's Daewoo Engineering and Construction has landed the coveted EPC-1 package of the Duqm Refinery project - a $2.75...
A feat of engineering in the shallow sea
Source : Arab News  
Date : 2017-08-07
Manifa, Saudi Aramco's oil field in the Arabian Gulf some 200 kilometers northwest of Dammam, is a standout on many fronts - not least for its unique combination of onshore...
Huge investment interest in Madinah a boon for Saudi Arabia's Vision 2030
Source : Arab News  
Date : 2017-08-05
Prince Saud bin Khaled Al-Faisal, deputy governor of Madinah, highlighted Madinah region's great potential to contribute to Vision 2030....
Three start-ups scoop Expo 2020 grants
Source : Gulf Today  
Date : 2017-08-05
This week, Expo 2020 Dubai has announced that three UK-based start-ups leading innovation in healthcare, water security and science education have each won an Expo Live grant from organisers of...
RAK Ceramics posts strong 73% profit rise
Source : Khaleej Times  
Date : 2017-08-05
RAK Ceramics announced its results for the second quarter ended June 30, 2017, showing a net profit of Dh113.2 million that represents a strong year on year increase of 73...
Adnoc mulls $5bn bank loan for smart growth
Source : TradeArabia  
Date : 2017-08-05
The Abu Dhabi National Oil Company (Adnoc) is currently considering a range of financing options, including a$5 billion bank loan, to promote prospects of smart growth and ensure sustainable expansion...
Boosting bilateral businesses
Source : Saudi Gazette  
Date : 2017-08-05
The Saudi Arabian General Investment Authority (SAGIA) recently hosted a delegation of more than 50 representatives from Chinese businesses in SAGIA headquarters in Riyadh, with the aim to highlight recent...
Total 642 Results in 33 Pages
  18 
For more news, views and reports about this topic, please subscribe
to GRC website: www.grc.net
Thu Aug 24, 2017| 01-ذو الحجة-1438هـ
Syria expands anti-Daesh operations
Riyadh celebrates first Saudi Women's Day
UAE summons Iran's diplomat
Trump turns up the heat on Iran, but no clear game plan yet
Qatar tops world in BMI index for investment attractiveness
Qaeda kills Yemen police, targeted in US raid
Iran targets $8.6bn of refinery deals with Asia firms
UN chief: Syria dialogue must focus on transition for success
US President Trump strongly supports Iraq - envoy
DGCX traded 1.37m contracts valued at $33b in January
Iran rejects 'baseless' warning from US on missile test
GCC consumers spend $9.3 billion on beauty, personal care products
HM King hails parliament's role
Saudi sentenced 7 years in prison for entering Syria, joining Al-Nusra
AD CP, Emir of Qatar discuss ties

Araa Mobile App

 ios

silver-apple-logo

android

small-Android_logo

 
  Op-Ed
More>>  
    Reports
NBK Report on oil markets
GCC Banking Sector Quarterly - 2Q16
More>>  
    GCC Press Agencies
Day's main stories from the GCC Press Agencies
    GRC Analysis
World Environment Day: Time to Reconnect with Nature in GCC
UAE'S NON-OIL TRADE HITS DHS1.2 TRILLION
The Benefits of NATO-GCC Strategic Ties
    GRC Commentary
The Trump Visit to Saudi Arabia: Time for a Course Correction
Environmental Education Must for GCC Countries
Climate COP 22 in Marrakech Important for the Region
    GRC Press Release
Gulf Research Center press releases to the media
    GRC Publications
Skillfull Survivals
The GCC and the Global Oil Market in 2016
GCC and Regional Issues
    GRC Newsletters/Bulletins

Enter your email to get the Newsletter
Go
GRC Publication
      
Privacy Policy | Contact Us | Terms & Conditions | About Us |
Weather | Qibla Directions | Hijri Date Conversion Tool
Full Page :total time:0  |   29-- 29 Middle Page :0  --   | Right : 29 - 29--en--sess-enreq-en-coming