Utility Scale Solar summit 2017
 
Friday, October 20, 2017
Directory Directory Subscribe
Login
 

Business confidence in Mideast hits 2-year high

 
 

Please, enter data

Please, enter data

ME NewsWire, 19 April 2017

Business confidence in the Middle East rebounded strongly in the first quarter of 2017, in line with the fastest rate of growth in global trade since 2015, according to the latest edition of the Global Economic Conditions Survey.

The quarterly survey of global CFOs and finance professionals, conducted by ACCA (the Association of Chartered Certified Accountants) and IMA (the Institute of Management Accountants), has found that economic sentiment has been spearheaded by an increasingly confident outlook in North America and is reflected across leading developed and emerging markets.

The confidence increase in the Middle East is due in part to the recent recovery in oil prices, and the region is likely to benefit from the resultant easing of fiscal austerity. The UAE in particular continued the trend of performing markedly better than other countries in the Middle East, with the survey indicating an increase in confidence, government spending and employment. 

However, there are still challenges on the horizon, with oil production likely to fall in 2017 as other countries look to reduce oil output.

In response to the report Lindsay Degouve de Nuncques, head of ACCA Middle East, said: “The rise in confidence, combined with strong economic hard data, offers genuinely encouraging signs for the global economy: with an increasingly optimistic mood in the US and a stimulus-led recovery in China driving prospects for world trade.”

“The Middle East has seen an encouraging up-turn in our confidence levels and in government spending. The UAE in particular has performed well due to our sizeable non-oil sector and strong fiscal position, which allows us greater protection from falling oil prices.

“However, we are likely to see borrowing costs rise across the Middle East in coming months in response to expected rises in US interest rates, as many of the exchange rates across the region are tied to the US dollar. Hopefully we can maintain business confidence while also efficiently navigating these challenges,” de Nuncques added.

The increase in optimism across the region provides welcome relief for organizations, as the GCC region prepares for the introduction of VAT from January 1, 2018 and governments continue strengthening their diversification strategies to further safeguard the economy.
ME NewsWire
19 April

  COMMENTS
Login to Add Your Comment  (for subscribers) | Subscribe

 

Latest News

Qatar Emir in Indonesia to boost investments, trade
The Straits Times, 19 October 2017

The Emir of Qatar held talks with Indonesia yesterday, more than four months into a Saudi-led blockade against the Gulf emirate.
 
Qatar Emir in Indonesia to boost investments, trade
Americans ‘openly exploring travel destinations in the Middle East’
AME Info, 19 October 2017

If you’ve missed some of your travel plans for summer and you still have leave to avail, the Middle East may be a good destination choice.
Americans ‘openly exploring travel destinations in the Middle East’
Americans ‘openly exploring travel destinations in the Middle East’
AME Info, 19 October 2017

If you’ve missed some of your travel plans for summer and you still have leave to avail, the Middle East may be a good destination choice.
Americans ‘openly exploring travel destinations in the Middle East’
Egypt Draws $1.8 Billion Investments for 1.4 Gigawatts of Solar
Bloomberg, 18 October 2017

Egypt Draws $1.8 Billion Investments for 1.4 Gigawatts of Solar
Back to Home Page 2517 --- 0 <><><> 547.5.....exvideo=0....eximage=0
P 0
BR 16

Smart Parking KSA 2017

 
2nd Annual Smart Parking KSA
24 - October 2017
Kuwait Infrastructure Week
29 - October 2017
4th Annual Future Landscape & Public Realm Qatar
30 - October 2017
2nd Annual RetrofitTech KSA
6 - November 2017
2nd Annual Future Police Technology UAE
13 - November 2017
 
  View more  

Market Indecies
 
Saudi SE - 2.32%
Dubai FM - 4.53%
Abu Dhabi SE - 3.99%
Kuwait SE - 1.51%
Doha SM - 8.36%
Muscat SM - 6.18%
Casablanca SE Closed
Bahrain SE - 0.98%
Cairo SE Closed
Amman SE - 1.12%
 

Kuwait Infrastructure Week 2017

Quick Links
  Reports  
  Articles  
  Brochures & Flyers  

Up-coming events
  Hospitality Qatar - 7 November - 9 November 2017  
  HQ - Food Qatar - 7 November - 9 November 2017  
  LightingTech Abu Dhabi - 4 December - 5 December 2017  
  Project Qatar - 7 May - 10 May 2018  
  Qatar StoneTech - 7 May - 10 May 2018  
  Heavy Max - 7 May - 10 May 2018  
  Qatar Hospital Build - 7 May - 10 May 2018  
  Qatar School Build - 7 May - 10 May 2018  
IFP Group Events Calendar

Magazine sections
  Finance  
  Zoom  
  Growth Markets  
  Regional Overview  
  Editorial  
  Tips and Tricks  
  Spotlight  
  Home Finance  
  Our Meetings
 
  Focus
 
  News
 
  Legal Issues
 

 

               
IFP Corporate
• IFP Emirates
• IFP Lebanon
• IFP Qatar
• IFP Iraq
• REC Saudi Arabia
• IFP China
Lebanon
Beirut Boat
Energy Lebanon
Project Lebanon
Qatar
Heavy Max
Hospitality Qatar
HQ - Food Qatar
Project Qatar
Qatar Hospital Build
Qatar School Build
Qatar Sports Infrastructure
Qatar StoneTech
Iraq
Saudi Arabia
Riyadh Motor Show
 
 
  IMC
IFP Group 2017 - © All rights reserved