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Read the latest news from around the Middle East and Africa region.
Oil Prices Continue To Climb With Supply Contained in Middle East
Oil prices have climbed to seven-year highs as disruptions hit production in the Middle East, keeping supply down, Reuters reports.
The news agency ties the supply issues back to Yemen's Houthi group' attack on the United Arab Emirates
"After launching drone and missile strikes that set off explosions in fuel trucks and killed three people, the Houthi movement warned it could target more facilities, while the UAE said it reserved the right to 'respond to these terrorist attacks,'" Reuters reports.
UAE Residents Cancel International Travel Plans
Changing international travel restrictions are keeping many from the United Arab Emirates closer to home, The Khaleej Times reports.
Companies are asking their employees to use up annual leave time. However, employees are afraid that changing rules and regulations could leave them stranded if they take international trips.
“With new regulations to curb the spread of COVID-19 in the UAE and many countries imposing strict restrictions and lockdowns, employees are now rethinking their leave plans to avoid being stranded,” said Mayank Patel, country head of Adecco Middle East.
https://ae.linkedin.com/in/mayank-patel-77aa6b6
Omicron Expected To Wane in Israel
While a fourth dose of COVID-19 vaccines has just a marginal effect on preventing omicron infections, officials in Israel plan to keep offering the extra dose and say they now expect the surge in the country to come down in roughly a week, Reuters reports.
"In another week we will begin seeing a drop in the numbers, but we still have two or three difficult weeks ahead," Health Ministry director-general Nachman Ash said.
Deals and Development
- Accor announced several expected openings in the Middle East for 2022, including multiple in conjunction with the 2022 World Cup in Qatar. Properties slated to open this year include: Rixos Doha Qetaifan, Rixos Obhur Jeddah in Saudi Arabia; Rixos Jewel of the Creek in Dubai, UAE; Raffles Doha and sister hotel Fairmont Doha, Banyan Tree AlUla in the Asher Valley of Saudi Arabia; and Fairmont La Marina Rabat-Salé.
- The Radisson Hotel & Apartments Dammam Industrial City reopened following a rebranding and renovation.
- Radisson Hotel Group opened the Radisson Hotel Riyadh Airport, marking the company's fourth property in Saudi Arabia.
- Oxford Capital Group, Global Ventures Group and Al Otaiba Investments purchased the Mogamma El Tahrir complex in Cairo, Egypt, with plans to invest more than $200 million to redevelop it. The revamped development will include a luxury lifestyle hotel.
- The 388-room Radisson Resort Ras Al Khaimah Marjan Island opened, marking the first Radisson resort in the region.
- The Dorchester Collection will open The Lana, the groups first Middle Eastern Hotel, during the fourth quarter of 2022 in Dubai's Burj Khalifa district. The property will have 225 rooms.