Amwal Al Ghad congratulates Mohamed Farid on his appointment as Egypt financial regulator chief    Saudi Arabia to launch company to attract $10 billion investments in Egypt    China's foreign exchange reserves jump to $3.104 trillion – SAFE    Egypt, South Korea to perform Pyramids Air Show 2022 Today    Egypt: Sisi appoints 73 female judges in the Court of First Instance    Egypt closer to export COVID vaccines after reaching 2nd highest WHO classification    Spain: prosecutor seeks 8 years sentence for Shakira over tax evasion    Egypt: Alamein Art Festival kicks off a collection of recycled installations    Russia delivers test kits of monkeypox to Egypt    John Legend enjoys family trip in Egypt    Sisi: Egypt wants to join BRICS    Egypt: street photography will no longer require permits    Sisi: Egypt determined to transition to low-carbon economy    Sisi, Biden discuss cooperation between two countries    Egypt's athlete Basma Emad wins bronze in weightlifting in Mediterranean Games    Congo needs Egypt's expertise to diversify its economy – FPI official    Noura Al-Mutair – first Gulf female boxer in World Championships    Egypt to play key role in integrating water, climate issues globally – World Bank official    Maha karara joins AAIB as Head of Corporate Communications, Sustainability    Egypt works on charting cooperation strategies with international institutions for 5 years: Al-Mashat    Over 2.4 million newborns examined for hearing impairment: Health Ministry    Netflix releases trailer of Arab adaption of 'Perfect Strangers' film    Balqees to headline concert celebrating launch of streaming giant LIVENow in MENA    Sawsan Badr to be honoured at Aswan Women Film Festival    MP Abdel Hady Al-Qasby calls government to facilitate and support NGOs    Al-Sisi follows up on 'Great Transfiguration Project' in St. Catherine    Cairo, London stress need to strengthen cooperation to face climate change    Foreigners account for 22.6% of Egypt's T-bills issuances in 1H 2021: CBE    Egypt's ambassador to Italy passes away    Egypt confirms readiness to help African countries face terrorism and extremism    An estimated 235 million people needed humanitarian assistance and protection in 2021, an increase of 40% compared to 2020: IOM Egypt    Egypt, DRC discuss water cooperation during WYF    Egypt, DR Congo discuss boosting bilateral cooperation during WYF    Cameroonian police probe assault on three Algerian journalists covering AFCON    Pharaohs start AFCON 2021 campaign with fierce clash against Nigeria    Foreign Ministry opens capacity building course for French-speaking African diplomats    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

Confidence is high among small businesses globally, says poll
Published in Daily News Egypt on 21 - 07 - 2010

HONG KONG: Many small businesses around the world, especially in Turkey and the Middle East, plan to boost investment and hiring, a survey showed on Wednesday, at a time when the global outlook is increasingly uncertain.
An index of confidence at small and medium-sized enterprises (SMEs) in 21 markets rose to 118 in the second quarter from 111 in the fourth quarter of 2009, HSBC's semi-annual global small business confidence monitor showed.
Emerging markets remained more confident than advanced markets, though confidence measures in developed markets rose sharply since the end of 2009.
The survey results suggest fears about a double dip in the global economy that have been dogging financial markets may be overstated, especially since SMEs comprise 95 percent of firms in OECD economies and employ two thirds of private sector workers.
The confidence index for Turkey rose to 138, from 117 in the fourth quarter of 2009, and the north America index climbed to 119 from 107.
However, in a slightly worrying sign, the index for India fell to 121 from 132, driven by an 18 percentage point drop in the share of SMEs that planned to increase investment.
Greater China's SME confidence stayed flat at 121.
All Asian indexes were in positive territory of above 100 for the first time since the financial crisis.
The survey was conducted in May and June 2010, when the euro zone sovereign debt crisis was raging.
Also, 41 percent of SMEs say they plan to increase capital spending, up four percentage points from the fourth quarter of 2009.
Twenty-six percent of SMEs say they are planning to hire.
In Hong Kong, SMEs are preparing to settle more trade using China's yuan. Marking the spreading use of the yuan internationally, 48 percent of SMEs said they will have a trade account denominated in yuan in 12 months, compared with 29 percent who have one at present.
Hong Kong has become China's stage for internationalizing the yuan, which was de-pegged from the US dollar last month.
This week China and Hong Kong tweaked rules to allow companies greater access to yuan funds and financial products, with total yuan deposits expected to grow by 5 billion yuan a month for the rest of the year.

Clic here to read the story from its source.