Snapchat Strategy Backs Saudi Arabia’s Digital Economy, Tech Transformation

Minister of Investment Eng. Khalid bin Abdulaziz Al-Falih during the inauguration of the company’s office (Asharq Al-Awsat)
Minister of Investment Eng. Khalid bin Abdulaziz Al-Falih during the inauguration of the company’s office (Asharq Al-Awsat)
TT

Snapchat Strategy Backs Saudi Arabia’s Digital Economy, Tech Transformation

Minister of Investment Eng. Khalid bin Abdulaziz Al-Falih during the inauguration of the company’s office (Asharq Al-Awsat)
Minister of Investment Eng. Khalid bin Abdulaziz Al-Falih during the inauguration of the company’s office (Asharq Al-Awsat)

Snapchat has reaffirmed its commitment to Saudi Arabia’s digital transformation, unveiling a strategy that aligns closely with the Kingdom’s Vision 2030 goals.

According to Abdullah Al-Hammadi, Snapchat’s General Manager in Saudi Arabia, the company sees not challenges but opportunities in the local market, aiming to be a central partner in national development.

In an interview with Asharq Al-Awsat, Al-Hammadi explained that Snapchat’s strategy in the Kingdom rests on three key pillars: developing human capital, contributing to GDP by enabling creators to earn sustainable income, and strengthening ties with customers and partners through a local presence. The opening of Snapchat’s first Saudi office in the JAX District in Diriyah marked a major step in that direction.

“Our strategy begins with investing in people,” said Al-Hammadi, highlighting programs such as the 12-month Graduate Development Program, digital marketing workshops for Saudi businesses, and the Snap School initiative designed to support local content creators.

The second pillar, he noted, is driving economic impact. This includes empowering content creators to monetize their work and helping local advertisers expand their reach in the digital economy. The third pillar focuses on proximity: the new Saudi office hosts the region’s first “Snap Council,” a forum for creators to collaborate and innovate.

Snapchat formally inaugurated its Riyadh office in November 2024, in an event attended by co-founder and CEO Evan Spiegel, along with Saudi Ministers Abdullah Al-Swaha (Communications and IT) and Khalid Al-Falih (Investment).

25 Million Active Users
The Kingdom remains one of Snapchat’s most dynamic markets, with over 25 million monthly active users who open the app more than 50 times a day. Around 90 percent of users fall between the ages of 13 and 34.

Company data shows that 54.5 percent of users are male and 45.5 percent female, while 60 percent of the most engaged users are over 25 years old. Meanwhile, 71 percent of Saudi parents actively use the platform.

“Saudis express themselves on Snapchat at a rate more than 2.2 times higher than on other platforms,” said Al-Hammadi. Over 85 percent of users interact daily with augmented reality (AR) lenses, which have become a defining feature of the platform.

National Day as a Digital Economy Driver
Al-Hammadi pointed to Saudi National Day as an example of Snapchat’s growing economic role. Traditionally a cultural celebration, the holiday has evolved into a major commercial season aligned with Vision 2030’s emphasis on the digital economy. In 2024, 94 percent of Saudi Snapchat users participated in National Day activities through the app.

September has also become a key shopping period: 85 percent of Saudis prepare shopping lists in advance, 72 percent plan bulk purchases, and 76 percent expect brand discounts. “National Day has become the second-biggest shopping season after Ramadan,” Al-Hammadi said. “On Snapchat, advertisers and shoppers come together in a shared moment of economic vitality through innovative campaigns.”

AI-Powered Experiences Ahead

Looking to the 2025 National Day, Snapchat anticipates a new wave of innovation driven by AI-enhanced AR. Features such as the Arabic Sign Language lens launched at the Riyadh International Book Fair in 2023, interactive book experiences, and child-focused filters demonstrate how AI can transform AR into more personal, inclusive, and immersive experiences.



First Two of Riyadh Air’s Custom-Built 787-9 Dreamliners Arrive in Saudi Arabia

The arrival of Riyadh Air's two aircraft marks a historic milestone in the company's journey towards launching its flights (SPA)
The arrival of Riyadh Air's two aircraft marks a historic milestone in the company's journey towards launching its flights (SPA)
TT

First Two of Riyadh Air’s Custom-Built 787-9 Dreamliners Arrive in Saudi Arabia

The arrival of Riyadh Air's two aircraft marks a historic milestone in the company's journey towards launching its flights (SPA)
The arrival of Riyadh Air's two aircraft marks a historic milestone in the company's journey towards launching its flights (SPA)

Riyadh Air, Saudi Arabia’s new national carrier and a company wholly owned by the Public Investment Fund (PIF), has announced the arrival of its first two custom-built Boeing 787-9 Dreamliners at King Khalid International Airport in Riyadh.

The aircraft arrived in tandem on Friday at approximately 10 a.m. local time, receiving a water cannon salute upon touchdown.

The aircraft – using the call signs Riyadh 1 and Riyadh 2 and registered as HZ-RXAA and HZ-RXAB – are the first of Riyadh Air’s 72 state-of-the-art Dreamliners.

Their arrival marks the commencement of the carrier's broader strategy to expand its fleet to more than 180 narrow-body and wide-body aircraft.

Leveraging Saudi Arabia’s strategic location at the crossroads of Asia, Africa, and Europe, Riyadh Air aims to connect the capital to over 100 global destinations by 2030, with plans to fly to nearly 20 destinations by the end of this year.

Commenting on the arrival, Riyadh Air CEO Tony Douglas said: “To see our very first custom-built Dreamliners touch down in Riyadh is a truly historic moment for us, and a momentous day for Saudi aviation as part of Vision 2030. I could not be more excited or more confident about the future and the legacy we are creating.”

“Not only are we building an airline, we are opening a new gateway to the world from the heart of the Kingdom. We are absolutely ready and excited to welcome the world to Riyadh,” he added.


Egypt to Cut Red Tape for Business and List up to Four State Firms

Egypt’s Investment and Foreign Trade Minister Mohamed Farid Saleh speaks during an interview in London, Britain June 4, 2026. REUTERS/Marc Jones
Egypt’s Investment and Foreign Trade Minister Mohamed Farid Saleh speaks during an interview in London, Britain June 4, 2026. REUTERS/Marc Jones
TT

Egypt to Cut Red Tape for Business and List up to Four State Firms

Egypt’s Investment and Foreign Trade Minister Mohamed Farid Saleh speaks during an interview in London, Britain June 4, 2026. REUTERS/Marc Jones
Egypt’s Investment and Foreign Trade Minister Mohamed Farid Saleh speaks during an interview in London, Britain June 4, 2026. REUTERS/Marc Jones

Egypt will step up efforts to cut red tape to spur on local businesses and it expects to list as many as four state-owned firms on the stock exchange over the next 12 months, its Investment and Foreign Trade Minister Mohamed Farid Saleh told Reuters.

Planned reforms aim to streamline company formation but also ease capital raising and make M&A processes easier, especially for non-listed firms, Saleh said.

"Within the coming 12 months, the priority would be in the area of the ease of doing business for already existing companies to facilitate their life... This is quite a hefty job," Saleh told Reuters on the sidelines of a visit to London.

He also predicted more than half a dozen companies would be floated on the country's stock exchange over the next 12 months, including a number of state-run ones.

State-owned enterprises still play an outsized role across Egypt's economy, with the IMF saying progress in reducing their footprint has been slower than expected.

Saleh said the government had got the ball rolling, having announced in March plans to sell up to a 20% share of Misr Life Insurance - something it has promised to do for more than 15 years - and could raise roughly 14 billion Egyptian pounds ($270 million).

"We're expecting three to four IPOs from our side, from the government side, and around four to five from the private sector," he said. He declined to name other state-owned companies that could be sold or how much such transactions could raise.

The minister said he expected flows of foreign direct investment in the fiscal year to end-June to rise 10% to 15% from $12.2 billion in fiscal 2024/2025.

Saleh said the government would not veer from its commitment to a floating exchange rate. Egypt's pound has been one of the world's hardest-hit currencies by the Iran war, falling nearly 8% since the conflict began. That has driven up inflation and threatened to reignite worries about the overall trajectory for the pound.

"Investors can deal with volatility, they don't deal with uncertainty," he said. "We were very clear and adamant about our policy direction... We are solely targeting inflation." He also said the government would maintain fiscal discipline, regardless of the situation in the region.

Asked about the seventh review of the country's IMF program, which is expected to be finalized in the coming weeks, Saleh said the government had achieved or even surpassed targets set on metrics such as its fiscal deficit and primary surplus.

A follow-on program with the Fund once the current one expires by year-end was currently not on the cards, he said.

"When you go and enter into a program, it is because of financial needs and because of other aspects. Those things are not present as we speak."


Oil Edges Lower after Oman Says Mina al Fahal Operations Proceeding Normally

Oil pumpjacks operating in a farmer’s field near Calgary, Alberta, Canada, November 26, 2025. (Reuters)
Oil pumpjacks operating in a farmer’s field near Calgary, Alberta, Canada, November 26, 2025. (Reuters)
TT

Oil Edges Lower after Oman Says Mina al Fahal Operations Proceeding Normally

Oil pumpjacks operating in a farmer’s field near Calgary, Alberta, Canada, November 26, 2025. (Reuters)
Oil pumpjacks operating in a farmer’s field near Calgary, Alberta, Canada, November 26, 2025. (Reuters)

Oil prices edged lower after Oman said operations at Mina al Fahal port were proceeding normally, following a Reuters report that oil loadings had been suspended after an explosion.

Brent crude futures fell by 50 cents, or 0.53%, to $94.53 a barrel by 0915 GMT after settling down 2.84% in the previous session.

US West Texas Intermediate crude was at $92.61 a barrel, down 43 cents, or 0.46%, following a 3.1% loss on Thursday.

Both contracts still looked set to post their first weekly gains in three weeks, with Brent up 2.7% and WTI around 6%.

The contracts rose after fighting flared in the Middle East as US-Iran war peace talks dragged on while traffic in the Strait of Hormuz, where a fifth of the world's oil passes, remained limited, Reuters reported.

Petroleum Development Oman said on Friday that operations at Mina Al Fahal port were proceeding normally, after three sources told Reuters earlier that oil loading had been suspended following an explosion near its mooring berths.

Oman exports 800,000 to 900,000 barrels per day of crude from the terminal.

Hezbollah leader Naim Qassem rejected on Thursday a US-brokered agreement between Israel and the Lebanese government to halt the fighting. Iran has made a ceasefire in Lebanon a condition for any peace deal with Washington.

US President Donald Trump said on Thursday he believed progress was being made between Israel and Lebanon and that Lebanon deserved to have peace.

"Any optimism remains heavily clouded by a tangled web of headlines and counter-headlines," IG market analyst Tony Sycamore said in a note. OPEC is sticking to its oil demand growth forecast of 1.2 million barrels per day for this year, Secretary General Haitham Al Ghais said on Thursday, despite the Middle East conflict and closure of the Strait of Hormuz.

Iranian oil exports have fallen to their lowest level in six years mainly due to the US naval blockade, according to shipping data, although weak demand in China has depressed prices for the oil.