According to a survey by the SME financier Gulf Finance, small and medium-sized businesses (SMEs) continued to feel the pinch in the first quarter, as the economy slowed, with payment collection and tapping debt remaining difficult. Despite the gloom, however, Gulf Finance’s Chief Executive, David Hunt, said that there are increasing signs of stability such as the fact that these businesses have not accelerated layoffs and expected to keep headcounts stable during the second quarter. Nonetheless, he said any improvements would be gradual, and that the rebound in the price of oil during the first quarter would take time to filter through the wider economy. (The National)