ABU DHABI, Oct. 28, 2014 (GLOBE NEWSWIRE / Knowledgebylanes) — Business confidence in the United Arab Emirates stayed buoyed over the third quarter of 2014. The YPO Global Pulse Confidence Index for the UAE inched up 0.2 point to a robust 72.3 in October on the back of slightly increased sales and capital spending outlooks. Meanwhile, the composite index for the Middle East and North Africa region rose marginally to 65.8, making it the world’s second most optimistic region behind Canada.
“Sustained levels of government spending are providing a buttress to the economy that can withstand short-term market fluctuations, including the recent drop in oil prices,” said Ali Tabbara, managing director of UTC International and chair of YPO‘s Middle East and North Africa region. “Despite international concerns related to market volatility and geopolitical risk, CEOs in the UAE have plenty of room for optimism,” he added.
YPO Global Pulse Confidence Index
The quarterly electronic survey, conducted in the first two weeks of October, gathered answers from 2,431 chief executive officers across the world, including 115 in the Middle East and North Africa region and 27 in UAE. Globally, the YPO Global Pulse Confidence Index edged down 0.8 point on moderate declines in most regions, remaining in optimistic territory at 63.2. Visit www.ypo.org/globalpulse for more information about the survey methodology and results from around the world. A more detailed version of this release may be found at www.ypo.org/news-media/press-releases/.
YPO (Young Presidents’ Organization) is a not-for-profit, global network of young chief executives connected through the shared mission of becoming Better Leaders Through Education and Idea ExchangeTM. Founded in 1950, YPO today provides 22,000 peers and their families in more than 125 countries with access to unique experiences, extraordinary educational resources, access to alliances with leading institutions, and participation in specialised networks to support their business, community and personal leadership. Altogether, YPO member-run companies employ more than 15 million people around the world and generate US$6 trillion in annual revenues. For more information, visit www.ypo.org.
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