The threat of worsening trading conditions after the recent unrest in parts of the Middle East still hangs over companies in the Gulf, even though broader business confidence is slowly improving, according to an HSBC study.
The study of 1,696 companies across the region showed 59 per cent of respondents expected the turmoil in areas of the Middle East to affect their businesses negatively. Of those, 8 per cent expected a large effect on their trade. However, the index of business confidence at Gulf companies rose 1.7 points from March to this month, with the UAE's business confidence rising 1.8 points from the end of the first quarter to 82.9.
Only Oman registered a decrease in business confidence between March and this month, falling 0.8 points.
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