Business confidence in the Middle East continued to fall in the second quarter, but not as quickly as it had in the first three months of the year, according to the Global Economic Conditions Survey (GECS) organised by the Association of Chartered Certified Accountants (ACCA) and the Institute of Management Accountants. The slight optimism was due to a temporary reprieve in oil prices during the spring, but was a short-lived flame of hope for Opec members, which was quickly extinguished by the prospect of Iran re-entering the market within a year, said a report in the Gulf Daily News (GDN), our sister publication.

 

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