South African business confidence climbed 3 points in the first quarter, helped by a stable government, supportive interest rate environment and foreign exchange rate tailwinds, a survey published on Wednesday showed, while warning that the Middle East conflict could pose a risk. Business confidence stood at 47 points in the quarter, marking the best reading since 2015, excluding the post-COVID recovery, the survey by the Rand Merchant Bank compiled by the Bureau of Economic Research showed.