عربي English Türkçe اردو فارسى
Logo
Latest News
Technology

stc Group Signs Strategic Agreements to Enhance Local Content

stc Group has signed new agreements with local partners at the Public Investment Fund’s (PIF’s) Private Sector Forum in Riyadh
stc Group has signed new agreements with local partners at the Public Investment Fund’s (PIF’s) Private Sector Forum in Riyadh
TT
TT

stc Group Signs Strategic Agreements to Enhance Local Content

stc Group has signed new agreements with local partners at the Public Investment Fund’s (PIF’s) Private Sector Forum in Riyadh
stc Group has signed new agreements with local partners at the Public Investment Fund’s (PIF’s) Private Sector Forum in Riyadh

stc Group has signed a raft of new agreements with local partners at the Public Investment Fund’s (PIF’s) Private Sector Forum in Riyadh, with the aim of enriching the local economy.

Prince Mohammad Bin Khalid Al Abdullah Al-Faisal, the chairman of the Board of Directors of stc Group attended the signings.

stc Group was represented at the Forum by its Rawafed program which also participated in a workshop dedicated to improving localization of procurement and supply chains.

The annual event brings together policymakers, key local private-sector players, visionaries, and industry leaders to discuss and catalyze and accelerate economic growth opportunities within the Kingdom’s private sector.

Commenting on the stc’s participation, CEO Olayan Al-Wetaid said: “We welcome the opportunity to participate once again at the PIF Private Sector Forum – a brilliant space to reaffirm our commitment to driving forward the Kingdom's economic agenda. At stc Group, we are dedicated to providing world-class connectivity, driving digital transformation, and empowering sustainable growth.”

He added that the signed agreements reflect stc Group’s commitment to cooperating with various local partners, and empowering innovation, and contributing to enhancing local content in line with Vision 2030's objectives.

The agreements signed covered a range of strategic stc Group objectives, from sustainability to digital transformation. They included a contract with Al Jazea Contracting & Trading Company for the establishment of a grey water treatment plant. The agreement aims to reduce water consumption and achieve broader sustainability goals.

Another agreement was signed with Master Works to enhance the customer experience by expanding stc’s capabilities to monitor new key performance indicators.

An agreement signed with Gazal, PIF’s portfolio company, to provide eco-friendly mobility movement at stc Group’s headquarters. An agreement was also signed with Simah to develop a system for integration and validation of partner data, enhancing the onboarding process, in an initiative called “Partner Hub Enhancement.”

During the forum, a contract was signed with Middle Sea for Telecommunication Establishment, Prime Gate Company, and Awnas Contracting Company to modernize infrastructure and advance sustainability efforts, specifically focusing on offloading of stc OSP (outside plant) infrastructure.

Capping stc Group’s involvement, Rawafed participated in the "Maximizing Local Content in Procurement" workshop and exhibition. The event provided the opportunity for direct registration to local partners, allowing them to showcase technological investment opportunities and provide examples of how stc Group is one of the Kingdom’s best-practice leaders in localization.

The workshop also provided an opportunity to exchange expertise and insights on how local procurement and localization of supply chains can be bolstered.

The PIF Private Sector Forum attracts elite policymakers and prestigious local private-sector institutions, along with prominent figures and specialists in the sector. It serves as a platform for dialogues to review ways of supporting local content and enhancing opportunities for private sector growth in the Kingdom.

Most Viewed

 
 
Technology

Google Offers to Loosen Search Deals in US Antitrust Case Remedy

The Google sign is shown on one of the company's office buildings in Irvine, California, US, October 20, 2020. REUTERS/Mike Blake
The Google sign is shown on one of the company's office buildings in Irvine, California, US, October 20, 2020. REUTERS/Mike Blake
TT
TT

Google Offers to Loosen Search Deals in US Antitrust Case Remedy

The Google sign is shown on one of the company's office buildings in Irvine, California, US, October 20, 2020. REUTERS/Mike Blake
The Google sign is shown on one of the company's office buildings in Irvine, California, US, October 20, 2020. REUTERS/Mike Blake

Alphabet's Google proposed on Friday a loosening of its agreements with Apple and others to set Google as the default search engine on new devices, in a bid to address a US ruling that it unlawfully dominates online search.

The proposal is muchu narrower than the government's push to make Google sell its Chrome browser, which Google called a drastic attempt to intervene in the search market.

Google urged US District Judge Amit Mehta in Washington to move cautiously in deciding what the company must do to restore competition, after his ruling that the company holds an illegal monopoly in online search and related advertising. Courts have cautioned against imposing antitrust remedies that chill innovation, Google said in court papers.

That is especially true "in an environment where remarkable artificial intelligence innovations are rapidly changing how people interact with many online products and services, including search engines," Google said.

While Google plans to appeal that ruling at the end of the case, it says the upcoming "remedies" phase should focus on its distribution agreements with browser developers, mobile device manufacturers, and wireless carriers.

The judge found the agreements give Google a "major, largely unseen advantage over its rivals" and result in most devices in the US coming pre-loaded with Google's search engine.

The agreements are hard to exit, the judge said, especially for Android manufacturers, which must agree to install Google search in order to include Google's Play Store on their devices.

To fix that, Google could make them non-exclusive and, for Android phone manufacturers, unbundle its Play Store from Chrome and search, the company said in its proposal.

Google would allow browser developers that agree to set its search engine as the default to revisit that decision annually under the proposal.

REVENUE SHARING

Unlike the government's proposal, Google's would not end revenue sharing agreements, which pass a portion of ad revenue Google makes from search to the device and software companies that present it as the default search engine.

Independent browser developers including Mozilla, which makes Firefox, have said the funds are crucial to their operations. Apple received an estimated $20 billion from its agreement with Google in 2022 alone.

Kamyl Bazbaz, spokesperson for search engine competitor DuckDuckGo, said the proposal attempts to maintain the status quo.

"Once a court finds a violation of competition laws, the remedy must not only stop the illegal conduct and prevent its recurrence, but restore competition in the affected markets," he said.

Google's proposal sets the stage for a trial Mehta will hold in April, where the US Department of Justice and a coalition of states will seek to show the need for wide-ranging remedies, including making Google sell off Chrome and potentially its Android mobile operating system.

The government plans to call witnesses from OpenAI, AI search startup Perplexity, and Microsoft, according to court papers.

Prosecutors also want Google to stop paying to be the default search engine, and cease investments in search rivals and query-based AI products, and license its search results and technology to rivals.

The proposals aim to spur innovation in online search, where Mehta found Google's overwhelming market share keeps competitors from gathering the search data needed to improve their products, and prevent Google from extending its dominance in search to AI.