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Saudi Arabia Completes Institutional Transformation of its Airports

Saudi Minister of Transport and Logistics Services Saleh al-Jasser during the ceremony (Asharq Al-Awsat)
Saudi Minister of Transport and Logistics Services Saleh al-Jasser during the ceremony (Asharq Al-Awsat)
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Saudi Arabia Completes Institutional Transformation of its Airports

Saudi Minister of Transport and Logistics Services Saleh al-Jasser during the ceremony (Asharq Al-Awsat)
Saudi Minister of Transport and Logistics Services Saleh al-Jasser during the ceremony (Asharq Al-Awsat)

Saudi Arabia has completed the institutional transformation of its airports towards improving the passenger experience aiming to become among the most competitive airports in the world.

The General Authority of Civil Aviation (GACA) and Matarat Holding Company announced the completion of the institutional transformation of 25 of the Kingdom's airports and launched "Jeddah Airports Company" and the 2nd Assembly Company.

During the ceremony, the Minister of Transport and Logistics Services, Saleh al-Jasser, highlighted the importance of the institutional transformation of the Kingdom's airports as an essential step in supporting the plans of the Ministry and the civil aviation sector to advance the Kingdom's airports and enhance their role in supporting the national economy.

Jasser praised the national strategy for transport and logistics, announced by Crown Prince Mohammed bin Salman, saying it is a "qualitative jump and a major leap" in the sector.

He noted that this would make the Kingdom a global logistics center, linking the three continents and enabling it to acquire the 5th rank in the world in airports transit traffic and reach the 10th rank in the world in the index of logistics services.

Jasser lauded the efforts of officials and workers to transfer the 25 airports, which was completed in one year, stressing that the government provides all support to the transport, logistics, and aviation sectors, to achieve and meet the large targets to be reached in the future.

For his part, the Advisor to GACA President for Governance and Executive Projects, Sulaiman al-Bassam, said that the launch of the two companies comes within the framework of the Authority's outstanding efforts to improve airport services in the Kingdom, through the "Matarat Holding" and affiliated companies, to manage and operate Saudi airports in a modern and developed manner.

"Airports are a cornerstone of the air transport industry and play a vital role in the field of development."

Bassam stated that the Saudi government believes the civil aviation sector is essential and issued the royal decree that separated the legislative from the operational and administrative aspects.

He added that the decree enhanced the efforts of strategic plans to achieve the goals of Vision 2030 for GACA to implement serious steps that accomplish its role as a legislator and regulator of the air transport industry in the Kingdom.

The advisor noted that Matarat provides the necessary support to enable companies to do their role within an appropriate environment to receive the most significant number of carriers and air traffic in Saudi airports and airspace.

Bassam stated that the "important step" aims to increase the rate of competitiveness and productivity between airports, improve financial returns, and raise the operational efficiency of Saudi airports.

"This in addition to raising the capacity of the Kingdom's airports to more than 330 million passengers per year, and to increase the capacity of air cargo to 4.5 million tons per annum, and achieve the 5th rank - globally - in air connectivity for passengers across 250 global destinations."

Speaking at the event, the CEO of Matarat, Mohammed al-Mowkley, stated that the establishment of Jeddah Airports comes as part of the assets transfer and institutional transformation program for the Kingdoms' airports.

It will assume responsibility for operating and managing King Abdulaziz International Airport in Jeddah, equipping it with the latest specifications and the highest international standards, and enhancing its role to be at the forefront of the best and leading regional and international airports.

Mowkley indicated that Jeddah Airports would develop King Abdulaziz International Airport to become a diversified economic gateway and operate it with state-of-the-art equipment and advanced services, with a new and innovative modern concept.

He explained that this would enhance passengers' experience to be an icon interface for visitors to the Kingdom, and a significant global hub, through its connection to the international airports' network.

Airports Cluster 2 Company will manage and operate 22 of the Kingdom's airports to provide the best and most acceptable services to passengers, develop these airports and increase their role in supporting the national economy by providing the best practices adopted by international airports, enhancing their competitiveness and improving the quality of services.

It will enrich passengers' experience, improve the performance of airports, and bring them to the best international levels.

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Business

War Weighs on Egypt’s Private Sector as PMI Hits Near Two-Year Low in March

People walk past a closed cinema as shops close early under a government-ordered curfew aimed at reducing energy costs in downtown Cairo on April 2, 2026. (AFP)
People walk past a closed cinema as shops close early under a government-ordered curfew aimed at reducing energy costs in downtown Cairo on April 2, 2026. (AFP)
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War Weighs on Egypt’s Private Sector as PMI Hits Near Two-Year Low in March

People walk past a closed cinema as shops close early under a government-ordered curfew aimed at reducing energy costs in downtown Cairo on April 2, 2026. (AFP)
People walk past a closed cinema as shops close early under a government-ordered curfew aimed at reducing energy costs in downtown Cairo on April 2, 2026. (AFP)

Egypt's non-oil private ‌sector deteriorated at its sharpest pace in almost two years in March, as the Middle East war drove up costs and dampened client demand, a closely watched business survey showed on Sunday.

The headline S&P Global Egypt Purchasing Managers' Index fell for a fourth consecutive month, dropping to 48.0 in March from 48.9 in February — its lowest reading since April 2024.

The ‌figure remained below ‌the 50.0 threshold that ‌separates growth ⁠from contraction, though ⁠it was broadly in line with the survey's long-run average of 48.2.

Output and new orders were the chief drags on the index, with both measures also hitting their lowest levels for nearly two years. Firms frequently blamed ⁠the Middle East conflict for dampening client ‌demand, partly through ‌intensifying price pressures.

In a first, business expectations for the ‌coming 12 months slipped into negative territory, with ‌companies citing uncertainty over the war as a key reason for pessimism, though the degree of gloom was described as mild.

David Owen, senior economist at ‌S&P Global Market Intelligence, nevertheless noted that "the latest figure of 48.0 still relates ⁠to ⁠annual GDP growth of around 4.3%," adding that "recent data suggests the domestic non-oil sector is on a solid underlying growth path."

Cost pressures remained a serious concern, however. Input prices surged at their joint-sharpest pace in one-and-a-half years, as firms cited fuel costs and other war-related commodity price increases, compounded by a stronger US dollar.

In response, companies raised their selling prices at the fastest rate in 10 months, though the increase remained modest overall.

Business

Middle East War Presents ‘Serious Risk’ for Africa, Warns Report

Festus Mwirotsi, 34, scouts for pests and diseases in roses meant for export at Isinya Roses farm in Kajiado, Kenya, March 24, 2026, as Kenya's flower industry is losing up to $1.4 million a week as the Iran war cuts demand and disrupts shipping. (AP)
Festus Mwirotsi, 34, scouts for pests and diseases in roses meant for export at Isinya Roses farm in Kajiado, Kenya, March 24, 2026, as Kenya's flower industry is losing up to $1.4 million a week as the Iran war cuts demand and disrupts shipping. (AP)
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Middle East War Presents ‘Serious Risk’ for Africa, Warns Report

Festus Mwirotsi, 34, scouts for pests and diseases in roses meant for export at Isinya Roses farm in Kajiado, Kenya, March 24, 2026, as Kenya's flower industry is losing up to $1.4 million a week as the Iran war cuts demand and disrupts shipping. (AP)
Festus Mwirotsi, 34, scouts for pests and diseases in roses meant for export at Isinya Roses farm in Kajiado, Kenya, March 24, 2026, as Kenya's flower industry is losing up to $1.4 million a week as the Iran war cuts demand and disrupts shipping. (AP)

The Middle East war "presents a serious risk to Africa", the African Union and the African Development Bank (AfDB) said in a report seen by AFP Saturday.

The conflict threatens to increase the cost of living and curtail growth on the continent, the report warned.

The Middle East accounts for 15.8 percent of Africa's imports and 10.9 percent of its exports, the report noted.

"The conflict, which already has triggered a trade shock, could quickly turn into a cost-of-living crisis across Africa through higher fuel and food prices, rising shipping and insurance costs, exchange rate pressures, and tighter fiscal conditions," it added.

The growth rate of most African countries continues to be slower than before the Covid pandemic, it noted.

"A loss in output growth of 0.2 percentage points on Africa's GDP is projected for 2026 if it (the conflict) exceeds six months," it said.

"The longer the conflict lasts and the more severe the disruption to shipping routes and energy and fertilizer supplies, the greater the risk of a significant growth slowdown across the continent."

Reduced deliveries of liquefied natural gas (LNG) from the Gulf will impact fertilizer production, limiting its availability during the crucial planting period up to May, it added.

- Currencies hit -

The report was compiled by the UN Development Program (UNDP) and the United Nations Economic Commission for Africa (UNECA).

According to recent data from the AfDB, the currencies of 29 African countries have already depreciated, increasing the cost of servicing external debt, making imports more expensive and reducing foreign exchange reserves,

Some countries could see some short-term gains, such as Nigeria for its oil exports or Mozambique for its LNG.

The rerouting of ships around Cape of Good Hope could benefit ports in Mozambique, South Africa, Namibia and Mauritius.

Kenya is establishing itself as a logistics hub in East Africa, while Ethiopian Airlines, the leading carrier in Africa, is serving as an "emergency air bridge" between the continent, Asia, and Europe, the report noted.

But these gains are likely to be uneven and will not offset the consequences for inflation, budgets, and food security in Africa, they warned.

Above all, the current crisis could hit the costs of humanitarian aid and divert donor funds towards other priorities.

Business

Taiwan Says It Has Assurances over LNG Supplies from 'Major' Country

The Taipei 101 skyscraper is seen lit up before the Earth Hour in Taipei, Taiwan, Saturday, March 28, 2026. (AP Photo/ Chiang Ying-ying)
The Taipei 101 skyscraper is seen lit up before the Earth Hour in Taipei, Taiwan, Saturday, March 28, 2026. (AP Photo/ Chiang Ying-ying)
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Taiwan Says It Has Assurances over LNG Supplies from 'Major' Country

The Taipei 101 skyscraper is seen lit up before the Earth Hour in Taipei, Taiwan, Saturday, March 28, 2026. (AP Photo/ Chiang Ying-ying)
The Taipei 101 skyscraper is seen lit up before the Earth Hour in Taipei, Taiwan, Saturday, March 28, 2026. (AP Photo/ Chiang Ying-ying)

Taiwan has received ‌supply assurances from the energy minister of a "major" liquefied natural gas-producing country, the island's economy minister said on Saturday, speaking about the Iran war's impact on Middle East energy imports.

Taiwan, a major semiconductor producer, had relied on Qatar for around a third of its LNG before the conflict, and has said it has secured alternate supplies for the months ahead from countries including Australia and the United States, said Reuters.

Speaking to ‌reporters in Taipei, ‌Economy Minister Kung Ming-hsin said that ‌because ⁠Taiwan has good ⁠relationships with its crude oil and natural gas suppliers, neither adjusting shipment origins nor purchasing additional spot cargoes would be a problem.

Kung said that about two weeks ago the energy minister of a certain "major energy-producing country" proactively contacted him.

The person "explained to us that they ⁠would fully support our natural gas needs. ‌If we have any ‌demand, we can let them know," he added.

"Another country even ‌said that some countries have released strategic petroleum ‌reserves, and they could also help coordinate matters if Taiwan needs assistance," Kung said.

"This shows that Taiwan has in fact earned considerable goodwill internationally through the long-term trust ‌it has built over the years," he said.

He declined to name the countries involved.

Angela ⁠Lin, ⁠spokesperson for state-owned refiner CPC, said at the same news conference that crude oil inventories were being maintained at pre-conflict levels and overall petrochemical feedstock supplies have remained stable.

CPC Chairman Fang Jeng-zen said that to reduce dependence on the Middle East, a new contract with the US will see 1.2 million metric tons of LNG supplied annually, with even more to come in the future, including eventually from Alaska.

However, Taiwan is not considering importing crude or LNG from Russia, he added.