World Business

Vienna: The Organization of the Petroleum Exporting Countries (OPEC) on Monday maintained its relatively high forecast for global oil demand growth for this year and next. However, it noted that the oil market will experience a much smaller supply deficit in 2026 as the OPEC+ alliance continues to increase production. In its monthly report issued Monday, OPEC raised its forecast for oil demand growth for this year to 1.3 million barrels per day (bpd), up from 1.29 million bpd, and to 1.38 million bpd for 2026. The OPEC report stated that the OPEC+ alliance's average crude oil production in September reached 43.05 million bpd, an increase of 630,000 bpd from the previous August, following the alliance's latest production increase. OPEC+ continues to pump more crude oil into the market after OPEC countries, Russia, and other allies decided to reduce some production cuts more quickly than previously planned. These additional supplies have raised concerns about a surplus and have impacted oil prices this year. The OPEC said in its report that the global economy is maintaining a strong growth trend. In its September report, OPEC forecast a deficit of 700,000 barrels per day in 2026 if the OPEC+ alliance continues to pump at the same rate as in August.

Qatar Business

Doha: JMJ Group Holding has concluded its first day at Cityscape 2025, demonstrating its commitment to innovation and excellence in Qatar's property development sector. The event, running from October 12-14 at the Doha Exhibition and Convention Center, is proving to be an invaluable platform for networking and showcasing cutting-edge developments. Throughout Day 1, JMJ Group Holding engaged with a diverse audience, including government officials and ministers, high-profile industry leaders, and major developers. As the first developer in the region to present an immersive and interactive showcase of its properties at Cityscape, the company's innovative display of flagship projects garnered significant interest and enthusiastic feedback from high-profile officials eager to explore Qatar's evolving real estate development landscape. "We are thrilled with the turnout and the enthusiasm shown by attendees today," said Sheikh Jabor bin Mansour bin Jabor Al Thani, Chairman of JMJ Group Holding. "It's encouraging to see so many professionals and investors dedicated to advancing the real estate landscape in Qatar. Our team is eager to share our vision and explore potential partnerships that will shape the future of luxury living and commercial excellence in the region." Key highlights from Day 1 included JMJ Group Holding winning the coveted award for Outstanding Developer Award for The OQ Hotel, organised by Qatari Diar. The state-of-the-art Immersive and Interactive Experience Room at JMJ Main Booth along with four meticulously crafted architectural models showcasing the company's current prestigious projects such as The Grove Residences – A landmark residential development; The Seef Hotel & Residences – Luxury hospitality and residential living combined; The OQ Hotel & Residences – Premium beachfront accommodations. JMJ Group Headquarters – The company's architectural vision embodied; The Grove Residences maquette at Qetaifan Projects Space, that features a dedicated showcase space highlighting a large-scale architectural model providing detailed visualisation of the development; Virtual Reality (VR) experience allowing visitors to virtually tour The Grove; Interactive Sales Application offering real-time unit availability, floor plans, and personalised purchasing assistance.

Qatar Business

Doha: The Qatar Stock Exchange (QSE) index closed lower on Monday, declining by 3.77 points, or 0.03 percent, to reach 10,835.95 points. During the session, a total of 144,465,767 shares were traded, with a value of QAR 350,410,133.778, through 18,746 transactions across all sectors. Shares of 32 companies rose during the session, while 18 companies saw their stocks decline. One company maintained its previous closing price. At the end of the trading session, the market capitalization stood at QAR 650,556,894,582.019, compared to QAR 649,929,113,604.855 in the previous session.