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)
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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.



Saudi Arabia, Syria Sign Joint Airline and Telecoms Deals

Officials pose after signing a framework agreement for developmental cooperation and the launch of 45 development initiatives between the Syrian Development Fund and Saudi Arabia's Development Committee at the People's Palace in Damascus, Syria, Saturday, Feb. 7, 2026. (AP)
Officials pose after signing a framework agreement for developmental cooperation and the launch of 45 development initiatives between the Syrian Development Fund and Saudi Arabia's Development Committee at the People's Palace in Damascus, Syria, Saturday, Feb. 7, 2026. (AP)
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Saudi Arabia, Syria Sign Joint Airline and Telecoms Deals

Officials pose after signing a framework agreement for developmental cooperation and the launch of 45 development initiatives between the Syrian Development Fund and Saudi Arabia's Development Committee at the People's Palace in Damascus, Syria, Saturday, Feb. 7, 2026. (AP)
Officials pose after signing a framework agreement for developmental cooperation and the launch of 45 development initiatives between the Syrian Development Fund and Saudi Arabia's Development Committee at the People's Palace in Damascus, Syria, Saturday, Feb. 7, 2026. (AP)

Syria and Saudi Arabia signed deals Saturday that include a joint airline and a $1-billion project to develop telecommunications, officials said, as Syria seeks to rebuild after years of war.

The new authorities in Damascus have worked to attract investment and have signed major agreements with several companies and governments.

Syrian Investment Authority chief Talal al-Hilali announced a series of deals including "a low-cost Syrian-Saudi airline aimed at strengthening regional and international air links".

The agreement also includes the development of a new international airport in the northern city of Aleppo, and redeveloping the existing facility.

Hilali also announced an agreement for a project called SilkLink to develop Syria's "telecommunications infrastructure and digital connectivity".

Syrian Telecommunications Minister Abdulsalam Haykal told the signing ceremony that the project would be implemented "with an investment of around $1 billion".

For decades, Syria was unable to secure significant investments because of Assad-era sanctions.

But the United States fully removed its remaining sanctions on Damascus late last year, paving the way for the full return of investments.

Syria and Saudi Arabia also inked an agreement on water desalination and development cooperation on Saturday.

At the ceremony, Saudi Investment Minister Khalid Al-Falih announced the launch of an investment fund for "major projects in Syria with the participation of the (Saudi) private sector".

The deals are part of "building a strategic partnership" between the two countries, he said.

Syria's Hilali said the agreements targeted "vital sectors that impact people's lives and form essential pillars for rebuilding the Syrian economy".

Syria has begun the mammoth task of trying to rebuild its shattered infrastructure and economy.

In July last year, Riyadh signed investment and partnership deals with Damascus valued at $6.4 billion to help rebuild the country's infrastructure, telecommunications and other major sectors.

A month later, Syria signed agreements worth more than $14 billion, including investments in Damascus airport and other transport and real estate projects.

This week, Syria signed a preliminary deal with US energy giant Chevron and Qatari firm Power International to explore for oil and gas offshore.


India’s Modi Lauds Interim Trade Pact After US Tariff Rollback

Indian Prime Minister Narendra Modi addresses the media before the budget session of Parliament at Parliament House in New Delhi, India, 29 January 2026. (EPA)
Indian Prime Minister Narendra Modi addresses the media before the budget session of Parliament at Parliament House in New Delhi, India, 29 January 2026. (EPA)
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India’s Modi Lauds Interim Trade Pact After US Tariff Rollback

Indian Prime Minister Narendra Modi addresses the media before the budget session of Parliament at Parliament House in New Delhi, India, 29 January 2026. (EPA)
Indian Prime Minister Narendra Modi addresses the media before the budget session of Parliament at Parliament House in New Delhi, India, 29 January 2026. (EPA)

Indian Prime Minister Narendra Modi on Saturday hailed an interim trade agreement with the United States, saying it would bolster global growth and deepen economic ties between the two countries.

The pact cuts US "reciprocal" duties on Indian products to 18 percent from 25 percent, and commits India to large purchases of US energy and industrial goods.

US President Donald Trump, while announcing the deal Tuesday, had said Modi promised to stop buying Russian oil over the war in Ukraine.

The deal eases months of tensions over India's oil purchases -- which Washington says fund a conflict it is trying to end -- and restores the close ties between Trump and the man he describes as "one of my greatest friends."

"Great news for India and USA!" Modi said on X on Saturday, praising US President Donald Trump's "personal commitment" to strengthening bilateral ties.

The agreement, he said, reflected "the growing depth, trust and dynamism" of their partnership.

Modi's remarks came hours after Trump issued an executive order scrapping an additional 25 percent levy imposed over New Delhi's purchases of Russian oil, in a step to implement the trade deal announced this week.

Modi, who has faced criticism at home about opening access of Indian agricultural markets to the United States and terms on oil imports, did not mention Russian oil in his statement.

"This framework will also strengthen resilient and trusted supply chains and contribute to global growth," he said.

It would also create fresh opportunities for Indian farmers, entrepreneurs and fishermen under the "Make in India" initiative.

In a separate statement, Commerce Minister Piyush Goyal said the pact would "open a $30 trillion market for Indian exporters".

Goyal also said the deal protects India's sensitive agricultural and dairy products, including maize, wheat, rice, soya, poultry and milk.

Other terms of the agreement include the removal of tariffs on certain aircraft and parts, according to a separate joint statement released Friday by the White House.

The statement added that India intends to purchase $500 billion of US energy products, aircraft and parts, precious metals, tech products and coking coal over the next five years.

The shift marks a significant reduction in US tariffs on Indian products, down from a rate of 50 percent late last year.

Washington and New Delhi are expected to sign a formal trade deal in March.


Gold Bounces Back on Softer Dollar, US-Iran Concerns; Silver Rebounds

Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth
Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth
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Gold Bounces Back on Softer Dollar, US-Iran Concerns; Silver Rebounds

Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth
Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth

Gold rebounded on Friday and was set for a weekly gain, helped by bargain hunting, a slightly weaker dollar and lingering concerns over US-Iran talks in Oman, while silver recovered from a 1-1/2-month low.

Spot gold rose 3.1% to $4,916.98 per ounce by 09:31 a.m. ET (1431 GMT), recouping losses posted during a volatile Asia session that followed a fall of 3.9% on Thursday. Bullion was headed for a weekly gain of about 1.3%.

US gold futures for April delivery gained 1% to $4,939.70 per ounce.

The US dollar index fell 0.3%, making greenback-priced bullion cheaper for the overseas buyers.

"The gold market is seeing perceived bargain hunting from bullish traders," said Jim Wyckoff, senior analyst at Kitco Metals.

Iran and the US started high-stakes negotiations via Omani mediation on Friday to try to overcome sharp differences over Tehran's nuclear program.

Wyckoff said gold's rebound lacks momentum and the metal is unlikely to break records without a major geopolitical trigger.

Gold, a traditional safe haven, does well in times of geopolitical and economic uncertainty.

Spot silver rose 5.3% to $74.98 an ounce after dipping below $65 earlier, but was still headed for its biggest weekly drop since 2011, down over 10.6%, following steep losses last week as well.

"What we're seeing in silver is huge speculation on the long side," said Wyckoff, adding that after years in a boom cycle, gold and silver now appear to be entering a typical commodity bust phase.

CME Group raised margin requirements for gold and silver futures for a third time in two weeks on Thursday to curb risks from heightened market volatility.

Spot platinum added 3.2% to $2,052 per ounce, while palladium gained 4.9% to $1,695.18. Both were down for the week.