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HomeWorldQatar consumer confidence rises as optimism prevails

Qatar consumer confidence rises as optimism prevails

Consumer confidence improved in Qatar for the first time this year on expected better business conditions and more jobs, according to a survey by Bayt.com and YouGov.
The latest consumer confidence index (CCI), a quarterly survey conducted by Bayt.com, showed Qatar moved up 3.9 index points.

Qatari consumers feel the region’s economic pressures may be lifting with an upward shift recorded in consumer confidence for the first time this year, the survey said.

“The doom and gloom of the last three quarters had gripped the (GCC) region but now there are signs that the global recession and its effect on the region might finally be starting to ease,” said Bayt.com regional manager Amer Zureikat.

As much as 44% of Qatar’s respondents held that business conditions would improve and 37% said the country’s economy would be better in a year’s time.

The CCI is a measure of consumer expectations and satisfaction of various elements of the economy including inflation, job opportunities and the cost of living.
Feelings across the region varied when it came to the propensity to consume and despite a previous improvement, Qatar witnessed an index drop of 3.9 points.

“With the exception of Qatar, the Gulf showed positive improvements in its propensity to consume,” the survey said.
On the local job market and their attitudes towards availability of jobs and salary satisfaction, it said Qatar showed a minor improvement of 0.8 index points.

“The data suggests that there is a universal optimism with labour markets across the Middle East finally picking up,” it said, adding 31% of respondents in Qatar said more jobs would be available.

“The data suggests that there is a universal optimism with labour markets across the Middle East finally picking up,” it said, adding 31% of respondents in Qatar said more jobs would be available.

Kuwait bourse selects Nasdaq OMX for system buy-paper
 Kuwait Stock Exchange (KSE) has chosen Nasdaq OMX Group Inc  to develop its trading system, a newspaper said on Monday citing the minister of trade and industry.

Ahmad al-Haroun said the KSE had approved a proposal by Nasdaq OMX to set up a trading system while a rival offer made by Germany’s Deutsche Borse’s (DB1Gn.DE: Quote, Profile, Research) was discarded, local daily al-Seyassah reported.

The KSE will prepare a contract with Nasdaq OMX within two months, said Haroun, who also heads Kuwait’s bourse committee, according to Seyassah. He didn’t say how much the deal for a trading system would be worth.

KSE, the second-largest Arab bourse, has been in talks for over a year to buy a trading system and possibly find a market operator, sources familiar with the matter told Reuters in February

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