FRA approves establishment of five new firms for investment fund management, SME financing    Sukari Gold Mine showcases successful public–private partnership: Minister of Petroleum    Egypt's Environment Minister attends AMCEN conference in Nairobi    Egypt considers launching national platform to mobilise green financing for private-sector industrial transformation    Egyptian, Belarusian officials discuss drug registration, market access    Egypt's ARC, Italy's AICS sign deal to boost wheat production    Gold prices edge higher on July 16th    Egypt stocks hit record highs in 2025 as reforms fuel rally: Cabinet    Egypt condemns Israeli strikes on Lebanon, Syria    Syria says it will defend its territory after Israeli strikes in Suwayda    Pakistan names Qatari royal as brand ambassador after 'Killer Mountain' climb    Health Ministry denies claims of meningitis-related deaths among siblings    Egypt's Health Min. discusses drug localisation with Sandoz    Egypt, Mexico explore joint action on environment, sustainability    Needle-spiking attacks in France prompt government warning, public fear    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt, France FMs review Gaza ceasefire efforts, reconstruction    CIB finances Giza Pyramids Sound and Light Show redevelopment with EGP 963m loan    Egypt's PM urges BRICS to prioritise peace    Greco-Roman tombs with hieroglyphic inscriptions discovered in Aswan    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt's GAH, Spain's Konecta discuss digital health partnership    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    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.