Sunday 22, June 2008 by
HSBC survey says Gulf business confidence shows further declines
The HSBC Gulf Business Confidence Index for the second quarter of 2008 reveals that the prevailing mood of Gulf business people remains buoyant, but that levels of confidence among business people continues to fall, maintaining the downward trend of the past 18 months. The Business Confidence Index has dipped to a mark of 94 from the benchmark 100 set in February 2007. Inflation, the price of oil, and staffing issues are cited as the three main drivers of the dip in confidence levels.
