DACO Plans to Transform Dammam Airport into Regional Hub

Dammam Airports Company (DACO) Logo
Dammam Airports Company (DACO) Logo
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DACO Plans to Transform Dammam Airport into Regional Hub

Dammam Airports Company (DACO) Logo
Dammam Airports Company (DACO) Logo

Dammam Airports Company (DACO) is planning to transform King Fahd International airport into a regional hub at the level of passengers and cargo volumes as the airport expands its infrastructure and welcomes new airlines, according to DACO CEO Turki Abdullah al-Jawini.

The airport is positioning itself as a regional passenger and cargo hub, added Jawini.

“We would like to take advantage of the strategic location of King Fahd International airport as the Kingdom’s eastern gateway; its proximity to one of the largest sea ports, Dammam Port and its proximity to (other) GCC capitals. All this combined can make the perfect ingredients to make a logistic cargo hub at the airport,” he said.

Speaking to Asharq Al-Awsat on the sidelines of the 18th Airport Show in Dubai, UAE, Jawini indicated that the impact of this strategy is becoming clearer from today, and many airlines and shipping companies are interested in the airport.

Jawini believes the transformations in Saudi Arabia and the economic reforms have greatly contributed to attracting investors and businessmen.

"The task today is to be ready to keep up with the economic growth in Saudi Arabia," he asserted.

DACO was established in July 2017 as a private company owned by the Government and wholly owned by Civil Aviation Holding Company, in preparation for the privatization of King Fahd International Airport, within the objectives of Vision 2030.

When asked about features that attract passengers to King Fahd Airport, Jawini indicated that it's the experience as whole, especially that the airport is easily accessed from cities in the region.

There are currently 37 airlines serving the airport, and soon new companies and destinations will be announced.

He stressed that one of the objectives of the airport strategy is to increase international direct flights and revealed ongoing talks with international airlines.

The CEO pointed out there are positive signs "from some companies eager to start operating, and I think it is a matter of time" until that happens. He added the airport's aim in the coming months is to work to reach the desired goal.

The first-quarter passenger figures for this year were “very promising,” said Jawini, with 4.2 percent growth in passenger numbers compared to the same quarter last year.

“The airport over the last few years has seen a very positive growth trend,” he indicated, adding that the airport expects a 6 to 8 percent growth this year. The airport served 9.8 million passengers last year.

"We are always studying the number of passengers and airport's capacity," stated the CEO and a new hall or section will be opened once needed.

As for smart technologies used for the enter and exit of travelers, Jawini revealed there is a full coordination with the authorities and boarding gates were installed and the technology will be used in all aspects that serve the passenger.

DACO has signed two strategic agreements with Vanderlande and Serco Middle East within the company's plan to enhance operational abilities of the airport.

The agreement with Vanderlande was signed to develop a new baggage-handling system at the airport that will help make travel procedures smoother for airport personnel, passengers and airlines. The deal with Serco Middle East to install fire and rescue services at the airport.



Saudi Aramco Announces Completion of $4 Billion Bond Issuance

The Aramco tower in Riyadh, which is located within the King Abdullah Financial District (KAFD). AFP
The Aramco tower in Riyadh, which is located within the King Abdullah Financial District (KAFD). AFP
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Saudi Aramco Announces Completion of $4 Billion Bond Issuance

The Aramco tower in Riyadh, which is located within the King Abdullah Financial District (KAFD). AFP
The Aramco tower in Riyadh, which is located within the King Abdullah Financial District (KAFD). AFP

Saudi Aramco announced on Tuesday that it has successfully completed a $4 billion issuance of bonds across four tranches under its Global Medium Term Note Program.

The tranches include:
• $500 million senior notes maturing in 2029 with a coupon rate of 4.0%;
• $1.5 billion senior notes maturing in 2031 with a coupon rate of 4.375%;
• $1.25 billion senior notes maturing in 2036 with a coupon rate of 5.0%; and
• $750 million senior notes maturing in 2056 with a coupon rate of 6.0%.

The transaction was priced on January 26, 2026, and the notes were listed on the London Stock Exchange.

“This issuance is part of Aramco’s focused strategy to further optimize its capital structure and enhance shareholder value creation,” said Aramco’s Executive Vice President & Chief Financial Officer Ziad Al-Murshed.

“The attractive pricing achieved on the transaction reflects global investors’ continued confidence in Aramco’s financial strength and resilient balance sheet,” he said.

Al-Murshed added that Aramco remains firmly committed to maintaining disciplined capital management and delivering long-term value to its shareholders.


Türkiye Monthly Inflation Jumps to 4.84% in January, Exceeds Forecast

People walk past the counter of a traditional Turkish bagel "simit" street vendor, Eminönü, Istanbul, Türkiye, Dec. 27, 2025. (AFP)
People walk past the counter of a traditional Turkish bagel "simit" street vendor, Eminönü, Istanbul, Türkiye, Dec. 27, 2025. (AFP)
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Türkiye Monthly Inflation Jumps to 4.84% in January, Exceeds Forecast

People walk past the counter of a traditional Turkish bagel "simit" street vendor, Eminönü, Istanbul, Türkiye, Dec. 27, 2025. (AFP)
People walk past the counter of a traditional Turkish bagel "simit" street vendor, Eminönü, Istanbul, Türkiye, Dec. 27, 2025. (AFP)

Turkish consumer price inflation leapt to a higher-than-expected 4.84% month-on-month in January, Turkish Statistical ​Institute data showed on Tuesday, driven in part by a 6.59% jump in food and non-alcoholic drinks prices.

Annual inflation dipped to 30.65% in January, with price rises driven by the annual hike in the minimum wage and ‌various new year price ‌adjustments.

In a Reuters ‌poll, ⁠monthly ​inflation ‌was forecast to be 4.32% with the annual rate seen at 30.00%.

In December, monthly consumer price inflation edged up to 0.89% while the annual rate slipped to 30.89%.

According to the poll's median estimate, annual ⁠inflation is expected to slow to 23% by ‌year-end, remaining above the central bank's ‍forecast of 16%.

In ‍January, the central bank lowered its ‍key interest rate by a less-than-expected 100 basis points to 37%, citing firming inflation, and pricing behavior and expectations that threaten the disinflation ​process.

After a brief policy reversal early last year due to political turmoil, ⁠the central bank's rate-cutting cycle resumed in July with a 300-basis-point move, followed by cuts of 250 points and then 100 in October amid rising food prices, before the last two cuts of 150 in December then 100 points in January.

The data also showed the domestic producer price index rose 2.67% month-on-month in January ‌for an annual increase of 27.17%.


Gold, Silver Stage Comeback after Two-session Rout

FILE PHOTO: A one-kilogram gold bar and a sealed gold coin are displayed at a jewelry store, in Dubai, United Arab Emirates, January 20, 2026. REUTERS/Amr Alfiky/File Photo
FILE PHOTO: A one-kilogram gold bar and a sealed gold coin are displayed at a jewelry store, in Dubai, United Arab Emirates, January 20, 2026. REUTERS/Amr Alfiky/File Photo
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Gold, Silver Stage Comeback after Two-session Rout

FILE PHOTO: A one-kilogram gold bar and a sealed gold coin are displayed at a jewelry store, in Dubai, United Arab Emirates, January 20, 2026. REUTERS/Amr Alfiky/File Photo
FILE PHOTO: A one-kilogram gold bar and a sealed gold coin are displayed at a jewelry store, in Dubai, United Arab Emirates, January 20, 2026. REUTERS/Amr Alfiky/File Photo

Gold and silver rose on Tuesday, rebounding from their steepest two-day drop in decades after Kevin Warsh was nominated as the next US Federal Reserve chair and a hike in CME margin requirements put the brakes on the metals' record rally.

Spot gold climbed 4.1% to $4,854.56 an ounce by 0623 GMT. On Monday, it had hit a low of $4,403.24 an ounce, ‌two sessions after peaking ‌at $5,594.82.

US gold futures for April delivery ‌rose ⁠4.8% to $4,838.10 per ‌ounce.

"It's a reasonable call that this is somewhere around fair value potentially, if you consider that we saw a market behaving fairly irrationally for a few weeks there," said Kyle Rodda, a senior market analyst at Capital.com.

"The current prices take gold and silver back to where they were, early in the second half of January."

Gold's parabolic rise saw it smash ⁠multiple peaks and log a nearly 13% gain in January, its biggest monthly gain since November ‌2009, while silver touched an all-time ‍high of $121.64 on Thursday.

Silver gained ‍6.2% to $84.34 an ounce on Tuesday, after posting its biggest one-day loss ‍on record on Friday with a 27% slump. It fell by another 6% in the last session and hit a low of $71.33 an ounce. "The markets endorsed Warsh's nomination by US President Donald Trump as someone relatively credible, and so we saw the dollar move on that basis, and again, that was kind of like the pin that popped ⁠the big precious metals," Rodda said. CME Group also raised margin requirements on precious metal futures, fueling last week's sharp selloff that was triggered after Kevin Warsh's nomination to head the central bank. Despite the historic pullback in gold and silver prices, analysts see the metals' bull run continuing and expect it to notch fresh record highs later this year. Meanwhile, the US Bureau of Labor Statistics said on Monday the closely watched employment report for January would not be released this Friday because of a partial shutdown of the federal government.

In other metals, spot platinum climbed 2.9% to $2,183.38 per ‌ounce after hitting a record high of $2,918.80 on January 26, while palladium was up 2.8% at $1,766.02.