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Investor confidence rises in Gulf
- Middle East: Monday, October 26 - 2009 at 13:47
Investor confidence rose in all six countries of the GCC in October, according to Dubai-based Shuaa Capital. The bank's GCC Investor Confidence Index increased to 132.2 points in October, up 3.8% from 127.3 in September, rising for a third consecutive month. Saudi Arabia and the UAE had the largest gains on the index, climbing 11.7% to 154.9 points and 9.2% to 130.4 respectively. Qatar rose 7.4 points to 143.1, Kuwait climbed 4 points to 102.5, Oman rose 2.9 points to 118.1 and Bahrain fell 0.9 points to 106.9 points. Any score over 100 points indicates positive investor confidence. Investor sentiment in the Gulf continued to strengthen in October, with all six countries recording positive levels of confidence as the outlook for the region's economies improves, Shuaa Capital said on Monday. The Dubai-based investment bank said its GCC Investor Confidence Index rose to 132.2 points in October, up 3.8 percent from 127.3 in September, increasing for its third consecutive month. Saudi Arabia and the UAE witnessed the biggest gains on the index, jumping 11.7 percent to 154.9 points and 9.2 percent to 130.4 respectively.
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StaffMonday, October 26 - 2009 at 13:47 UAE local time (GMT+4)
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