Saudi Arabia’s stc Group Wins Forbes Middle East Sustainability Leaders Award

stc Group logo
stc Group logo
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Saudi Arabia’s stc Group Wins Forbes Middle East Sustainability Leaders Award

stc Group logo
stc Group logo

stc Group, the Saudi enabler of digital transformation, has won the Forbes Middle East Sustainability Leaders Award in recognition of its efforts to reduce carbon emissions and promote sustainable practices in four areas related to climate, society, digitalization and the future of work.
The award was received by stc Group Vice President of Corporate Relations Mohammed bin Rashid Abaalkheil on the sidelines of the Forbes Middle East Sustainability Leaders Summit 2023, which was held in Abu-Dhabi on November 2-3.
The award represents a testimony to stc Group’s commitment to sustainable business practices, which are being applied within the group’s various divisions. The group’s initiatives have had a positive impact on the environment and the communities within which it operates, from reducing carbon emissions to environmental awareness campaigns, as stc Group considers sustainability fundamental in dealing with the environment and a vital necessity for doing business.
The group pledges its commitment to shaping a sustainable future for its customers, employees, and the communities to which it provides its services, it said in a statement.
The sustainability efforts made by the group have received recognition from other organizations as well, such as the United Nations Global Compact and the Carbon Disclosure Project. The group’s sustainability strategy aligns with the United Nations Sustainable Development Goals and focuses on three main areas: environmental responsibility, social investment and governance, it said.
The statement added that stc Group is committed to sustainability and carries out practices that help the environment, cementing its position as a leader in sustainable business practices. By reducing the carbon footprint and implementing sustainable practices, the group is having a positive impact and making the world healthier and more prosperous for future generations.
stc Group has a number of achievements in many aspects of sustainability, including providing 4,348 hours of sustainability training to employees, relying 38,21% on local content, involving 213 small and medium enterprises in procurement processes, and awarding contracts to giant projects that use local content worth SAR 5billion, as well as providing more than 127,000 hours of training through stc Academy.
The group, through the InspireU accelerator, adopted about 100 startup companies and provided them with support at a value of up to SAR10 billion, has 52% women in the advanced analytics department, employs 43 different nationalities in the work team, and contributed to the technical empowerment of 324 non-governmental organizations through the technical empowerment program, which provides services to more than 10,000 users in 64 cities.



Trump Expected to Shift Course on Antitrust, Stop Google Breakup

The Google logo is seen on the Google house at CES 2024, an annual consumer electronics trade show, in Las Vegas, Nevada, US, January 10, 2024. (Reuters)
The Google logo is seen on the Google house at CES 2024, an annual consumer electronics trade show, in Las Vegas, Nevada, US, January 10, 2024. (Reuters)
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Trump Expected to Shift Course on Antitrust, Stop Google Breakup

The Google logo is seen on the Google house at CES 2024, an annual consumer electronics trade show, in Las Vegas, Nevada, US, January 10, 2024. (Reuters)
The Google logo is seen on the Google house at CES 2024, an annual consumer electronics trade show, in Las Vegas, Nevada, US, January 10, 2024. (Reuters)

Donald Trump will likely dial back some of the antitrust policies pursued under the administration of President Joe Biden, potentially including a bid to break up Alphabet's Google over its dominance in online search, experts said.

Trump is expected to continue cases against Big Tech, several of which began in his first term, but his recent skepticism about a potential Google breakup highlights the power he will hold over how those cases are run.

"If you do that, are you going to destroy the company? What you can do without breaking it up is make sure it's more fair," he said at an event in Chicago in October, Reuters reported.

The US Department of Justice is currently pursuing two antimonopoly cases against Google - one over search and another over advertising technology, as well as a case against Apple . The US Federal Trade Commission is suing Meta Platforms and Amazon.com.

The DOJ has laid out a range of potential remedies in the search case, including making Google divest parts of its business such as the Chrome Web browser and ending agreements that make it the default search engine on devices like Apple's iPhone.

But the trial over those fixes will not happen until April 2025, with a final ruling likely in August. That gives Trump and the DOJ time to change course if they choose, said William Kovacic, a law professor at George Washington University.

"He is certainly in the position to control the DOJ's disposition of the remedies phase," said Kovacic, who chaired the Federal Trade Commission under then-president George W. Bush.

Trump is also likely to pull back on some policies that have irritated dealmakers under the Biden administration, attorneys said. One is a reluctance to settle with merging companies, which was previously common and let companies address competition problems that agencies raised about deals by taking actions like selling part of the business.

The FTC and DOJ would likely scrap merger review guidelines crafted under Biden, said Jon Dubrow, a partner at law firm McDermott Will & Emery.

"The 2023 merger guidelines were very hostile to mergers and acquisitions," he said, echoing a view widely held on Wall Street.

The FTC's ban on most noncompete clauses in employer-employee contracts could be more vulnerable to a lawsuit brought by the US Chamber of Commerce, if the FTC votes not to defend it.

About 30 million people, or 20% of US workers, have signed noncompetes, according to the FTC. The agency is currently appealing a court ruling that blocked the rule.

But such actions to dismantle the work of FTC Chair Lina Khan will depend on a Trump-appointed replacement being confirmed to give the bipartisan five-member commission a Republican majority.

Khan's initiatives focused on what she saw as societal harms caused by unchecked corporate consolidation, drawing praise from both Democrats and some Republicans, including Vice President-elect JD Vance. But some in the business and legal communities have criticized her approach as too aggressive.

Trump is not expected to drastically curtail antitrust enforcement, however. A similar number of merger cases was brought under his first term as during the first two years of the Biden administration, according to an analysis by the Sheppard Mullin law firm.