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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.

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Trump Shook up Global Trade This Year; Some Uncertainty May Persist in 2026 

Containers are seen at the port in Shanghai, China, Oct. 13, 2025. (AFP)
Containers are seen at the port in Shanghai, China, Oct. 13, 2025. (AFP)
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Trump Shook up Global Trade This Year; Some Uncertainty May Persist in 2026 

Containers are seen at the port in Shanghai, China, Oct. 13, 2025. (AFP)
Containers are seen at the port in Shanghai, China, Oct. 13, 2025. (AFP)

President Donald Trump's return to the White House in 2025 kicked off a frenetic year for global trade, with waves of tariffs on US trading partners that lifted import taxes to their highest since the Great Depression, roiled financial markets and sparked rounds of negotiations over trade and investment deals.

His trade policies - and the global reaction to them - will remain front and center in 2026, but face some hefty challenges.

WHAT HAPPENED IN 2025

Trump's moves, aimed broadly at reviving a declining manufacturing base, lifted the average tariff rate to nearly 17% from less than 3% at the end of 2024, according to Yale Budget Lab, and the levies are now generating roughly $30 billion a month of revenue for the US Treasury.

They brought world leaders scrambling to Washington seeking deals for lower rates, often in return for pledges of billions of dollars in US investments. Framework deals were struck with a host of major trading partners, including the European Union, the United Kingdom, Switzerland, Japan, South Korea, Vietnam and others, but notably a final agreement with China remains on the undone list despite multiple rounds of talks and a face-to-face meeting between Trump and Chinese leader Xi Jinping.

The EU was criticized by many for its deal for a 15% tariff on its exports and a vague ‌commitment to big ‌US investments. France's prime minister at the time, Francois Bayrou, called it an act of submission ‌and ⁠a "somber day" for the ‌bloc. Others shrugged that it was the "least bad" deal on offer.

Since then, European exporters and economies have broadly coped with the new tariff rate, thanks to various exemptions and their ability to find markets elsewhere. French bank Societe Generale estimated the total direct impact of the tariffs was equivalent to just 0.37% of the region's GDP.

Meanwhile, China's trade surplus defied Trump's tariffs to surpass $1 trillion as it succeeded in diversifying away from the US, moved its manufacturing sector up the value chain, and used the leverage it has gained in rare earth minerals - crucial inputs into the West's security scaffolding - to push back against pressure from the US or Europe to curb its surplus.

What notably did not happen was the economic calamity and high inflation that legions ⁠of economists predicted would unfold from Trump's tariffs.

The US economy suffered a modest contraction in the first quarter amid a scramble to import goods before tariffs took effect, but quickly rebounded and ‌continues to grow at an above-trend pace thanks to a massive artificial intelligence investment boom ‍and resilient consumer spending. The International Monetary Fund, in fact, twice ‍lifted its global growth outlook in the months following Trump's "Liberation Day" tariffs announcement in April as uncertainty ebbed and deals were struck to reduce ‍the originally announced rates.

And while US inflation remains somewhat elevated in part because of tariffs, economists and policymakers now expect the effects to be more mild and short-lived than feared, with cost sharing of the import taxes occurring across the supply chain among producers, importers, retailers and consumers.

WHAT TO LOOK FOR IN 2026 AND WHY IT MATTERS

A big unknown for 2026 is whether many of Trump's tariffs are allowed to stand. A challenge to the novel legal premise for what he branded as "reciprocal" tariffs on goods from individual countries and for levies imposed on China, Canada and Mexico tied to the flow of fentanyl into the US was argued before the US Supreme Court in late 2025, ⁠and a decision is expected in early 2026.

The Trump administration insists it can shift to other, more-established legal authorities to keep tariffs in place should it lose. But those are more cumbersome and often limited in scope, so a loss at the high court for the administration might prompt renegotiations of the deals struck so far or usher in a new era of uncertainty about where the tariffs will end up.

Arguably just as important for Europe is what is happening with its trading relationship with China, for years a reliable destination for its exporters. The depreciation of the yuan and the gradual move up the value chain for Chinese companies have helped China's exporters. Europe's companies meanwhile have struggled to make further inroads into the slowing domestic Chinese market. One of the key questions for 2026 is whether Europe finally uses tariffs or other measures to address what some of its officials are starting to call the "imbalances" in the China-EU trading ties.

Efforts to finally cement a US-China deal loom large as well. A shaky detente reached in this year's talks will expire in the second half of 2026, and Trump and Xi are tentatively set to meet twice over the course of the ‌year.

And lastly, the free trade deal with the two largest US trading partners - Canada and Mexico - is up for review in 2026 amid uncertainty over whether Trump will let the pact expire or try to retool it more to his liking.

Business

German Auto Exports Hit Hard by Trump Tariffs, Study Shows 

US President Donald Trump holds a chart as he delivers remarks on reciprocal tariffs during an event in the Rose Garden entitled "Make America Wealthy Again" at the White House in Washington, DC, on April 2, 2025. (AFP)
US President Donald Trump holds a chart as he delivers remarks on reciprocal tariffs during an event in the Rose Garden entitled "Make America Wealthy Again" at the White House in Washington, DC, on April 2, 2025. (AFP)
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German Auto Exports Hit Hard by Trump Tariffs, Study Shows 

US President Donald Trump holds a chart as he delivers remarks on reciprocal tariffs during an event in the Rose Garden entitled "Make America Wealthy Again" at the White House in Washington, DC, on April 2, 2025. (AFP)
US President Donald Trump holds a chart as he delivers remarks on reciprocal tariffs during an event in the Rose Garden entitled "Make America Wealthy Again" at the White House in Washington, DC, on April 2, 2025. (AFP)

German car exports to the United States slumped by almost 14% in the first three quarters of 2025, making it the hardest-hit branch of German industry in US President Donald Trump's trade war, according to a study seen by Reuters on Monday.

Under an agreement between Washington and Brussels, the US set a 15% baseline tariff on cars from Europe from August 1 - significantly less ‌than Trump's ‌initial rate of 25% ‌on ⁠top of ‌a 2.5% existing levy.

German engineering companies have also struggled under the tariff regime, with the study showing exports in that sector to the US declining by 9.5% in the first nine months of 2025.

Machinery exports are subject to a ⁠50% US tariff on steel and aluminium products.

The chemical industry ‌also saw exports to the ‍country's top export market ‍decline by 9.5%, although the report said ‍this could not be blamed solely on tariffs.

"Other factors are likely to have played a role in the case of chemical products, such as lower production in Germany due to higher energy prices," it said.

Across all sectors, German ⁠exports to the US were down 7.8% year on year over the three quarters - following average growth of nearly 5% in the comparable periods of 2016 to 2024.

"Since it must currently be assumed that US import tariffs will not return to pre-Trump administration levels in the foreseeable future, a significant recovery in German exports to the US is unlikely," study author Samina ‌Sultan said, referring to a "new normal" for German exporters.

Business

Greece Headed for ‘Record Year’ for Tourism, Says Minister

Tourists descent Propylaia, the ancient gate of the Acropolis archaeological site in Athens on June 21, 2023. (AFP)
Tourists descent Propylaia, the ancient gate of the Acropolis archaeological site in Athens on June 21, 2023. (AFP)
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Greece Headed for ‘Record Year’ for Tourism, Says Minister

Tourists descent Propylaia, the ancient gate of the Acropolis archaeological site in Athens on June 21, 2023. (AFP)
Tourists descent Propylaia, the ancient gate of the Acropolis archaeological site in Athens on June 21, 2023. (AFP)

Greece is on track for "another record year" for tourism in 2025, despite ongoing labor shortages in a key sector of its economy, Tourism Minister Olga Kefalogianni said on Sunday.

Between January and the end of September, the Mediterranean nation -- long beloved by tourists for its sunny islands and rich archaeological sites -- welcomed 31.6 million visitors, a four-percent increase compared with the same period in 2024, according to Bank of Greece data published in late November.

"Overall, we expect 2025 to be another record year for tourism in our country," Kefalogianni said in an interview with the Greek news agency ANA.

The conservative minister also expressed hope for another bumper year in 2026.

"The indicators for 2026 are already particularly encouraging and allow us to be optimistic," she said.

Since the Covid-19 pandemic, Greece has been breaking annual records in tourism revenues and the number of foreign visitors.

Across 2024, 40.7 million people visited Greece, up 12.8 percent from 2023.

But the uptick has sparked concern over the unchecked construction in several hotspots, while Athens locals have complained that the proliferation of short-term holiday lets has caused rents to skyrocket.

Climate change-fueled heatwaves and increasingly devastating wildfires also pose a threat to the sector, which Prime Minister Kyriakos Mitsotakis has trumpeted since taking office in 2019 in a bid to revive the economy after the financial crisis.

According to the Institute of the Greek Tourism Confederation (INSETE), tourism directly contributed around 13 percent of GDP in 2024 and indirectly to more than 30 percent of GDP.