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stc ranked the 3rd strongest telco brand in the world by Brand Finance

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KUWAIT CITY, Apr 26: Kuwait Telecommunications Company – stc, a world-class digital leader providing ‎innovative services and platforms to customers, enabling the digital transformation in Kuwait, has been ‎ranked as the 3rd strongest telco brand in the world, while maintaining its ranking as the most valuable ‎telco brand in the Middle East. According to the Brand Finance’s latest “Telecoms 150” Report, stc was ‎also ranked as the 9th most valuable telco brand globally.‎

Developed by Brand Finance, the world’s leading independent brand valuation consultancy, the Telecom ‎‎150 Report is a dedicated industry ranking that assesses the world’s top 150 strongest telecoms brands. ‎Utilizing the Brand Strength Index (BSI), the “Strongest Telecom Brand” ranking evaluates key factors ‎such as resilience, customer perception, and the depth of a brand’s relationship with its audience. ‎

The report highlighted stc Group’s outstanding performance, which saw a notable 16% growth in brand ‎value in 2024, reaching USD16.1 billion. The growth is mainly attributed to the Masterbrand strategy ‎implemented by stc Group, where it extended the brand into new categories such as banking, ‎cybersecurity, and the development of B2B and IT offerings through strategic M&A initiatives. ‎

In 2024, stc Kuwait demonstrated its unwavering commitment to digital transformation and operational ‎excellence, achieving several key milestones, mainly;‎

‎-‎ stc Kuwait successfully tested 10Gbps using the 6GHz IMT frequency spectrum trial, marking a ‎first in Kuwait

‎-‎ stc Kuwait upgraded from the Main Market to the Premier Market in Boursa Kuwait, reinforcing ‎its commitment to governance and investor confidence. ‎

‎-‎ stc Kuwait signed an MoU with Huawei to develop 5.5G intelligent wireless networks and ‎incubate new services for both consumer and business sectors, enhancing network performance, ‎efficiency, and innovation. ‎

‎-‎ stc Kuwaitlaunched the first 5G RedCap Fixed Wireless Access in the Middle East, showcasing ‎its commitment to technological leadership.‎

‎-‎ stc Kuwaitexpanded its business solutions with new multi-tenant SIEM services targeting SMEs.‎

‎-‎ stc Kuwaitcompleted a PoC for a new long-range microwave technology, enabling high-capacity ‎backhauling of up to 5Gbps over 8 kilometers.‎

‎-‎ stc Kuwaitintroduced ‘youth from stc,’ exclusive telecom plans tailored for young customers in ‎Kuwait ‎

‎-‎ stc Kuwait successfully maintained its ISO certifications, including ISO 9001:2015, ISO ‎‎14001:2015, ISO 27001:2022, ISO 20000-1:2018, ISO 22301:2019, and ISO 31000:2018‎

‎-‎ stc Kuwait partnered with HomeWagon to introduce innovative smart home solutions.‎

‎- stcKuwait signed a strategic contract with the Ministry of Electricity, Water & Renewable Energy ‎‎(MEW) to supply Smart Electricity Meter solutions‎

‎-‎ stcKuwait was ranked the #1 ideal employer for engineers and IT professionals in Kuwait by ‎Universum’s research. ‎

‎-‎ stc Kuwait signed a final contract with CITRA for the allocation of a 5,698.5 square meter area to ‎serve as its new administrative headquarters in Kuwait City, Al-Mirqab Area. ‎

In terms of corporate social responsibility and sustainability, stc Kuwaitcontinued to implement its ‎extensive agenda with active campaign throughout the year initiated under various campaigns. The ‎Company focused on its core pillars under CSR and sustainability which included areas such as ‎education, environmental sustainability, sports, health, youth empowerment, and entrepreneurship. ‎Additionally, the Company enhanced its existing campaigns, which included “weyak” – that aims at ‎supporting young entrepreneurs and startups, and the educational ‘upgrade’ initiative – that aims at ‎empowering youth and supporting the education initiatives. ‎

Due to these remarkable achievements, as well as other successful accomplishments witnessed ‎throughout the year, stc Kuwait received numerous reputable awards. These recognitions were awarded ‎to stc Kuwait on both regional and international platforms, recognizing the Company’s excellence across ‎all fronts.‎

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Trump announces trade deal with Japan that lowers threatened tariff to 15%

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US President Donald Trump speaks during a dinner for Republican senators in the State Dining Room of the White House on July 18 in Washington. (AP)

WASHINGTON, July 23, (AP): US President Donald Trump announced a trade framework with Japan on Tuesday, placing a 15% tax on goods imported from that nation.

“This Deal will create Hundreds of Thousands of Jobs — There has never been anything like it,” Trump posted on Truth Social, adding that the United States “will continue to always have a great relationship with the Country of Japan.”

The president said Japan would invest “at my direction” $550 billion into the U.S. and would “open” its economy to American autos and rice. The 15% tax on imported Japanese goods is a meaningful drop from the 25% rate that Trump, in a recent letter to Japanese Prime Minister Shigeru Ishiba, said would be levied starting Aug. 1.

Early Wednesday, Ishiba acknowledged the new trade agreement, saying it would benefit both sides and help them work together.

With the announcement, Trump is seeking to tout his ability as a dealmaker — even as his tariffs, when initially announced in early April led to a market panic and fears of slower growth that for the moment appear to have subsided. Key details remained unclear from his post, such as whether Japanese-built autos would face a higher 25% tariff that Trump imposed on the sector.

The wave of tariffs continues to be a source of uncertainty about whether it could lead to higher prices for consumers and businesses if companies simply pass along the costs. The problem was seen sharply Tuesday after General Motors reported a 35% drop in its net income during the second quarter as it warned that tariffs would hit its business in the months ahead, causing its stock to tumble.

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OpenAI’s CEO warns of AI voice fraud crisis in banking

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OpenAI’s Sam Altman sounds alarm on AI voice fraud at Fed conference.

WASHINGTON, July 23, (AP): OpenAI CEO Sam Altman warned the financial industry of a “significant impending fraud crisis” because of the ability of artificial intelligence tools to impersonate a person’s voice to bypass security checks and move money.

Altman spoke at a Federal Reserve conference Tuesday in Washington.

“A thing that terrifies me is apparently there are still some financial institutions that will accept the voiceprint as authentication,” Altman said. “That is a crazy thing to still be doing. AI has fully defeated that.”

Voiceprinting as an identification for wealthy bank clients grew popular more than a decade ago, with customers typically asked to utter a challenge phrase into the phone to access their accounts.

But now AI voice clones, and eventually video clones, can impersonate people in a way that Altman said is increasingly “indistinguishable from reality” and will require new methods for verification.

“That might be something we can think about partnering on,” said Fed Vice Chair for Supervision Michelle Bowman, the central bank’s top financial regulator, who was hosting the discussion with Altman.

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Trump says US will impose 19% tariff on imports from Philippines

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US President Donald Trump meets with Philippine President Ferdinand Marcos Jr, in the Oval Office of the White House, Tuesday on July 22 in Washington. (AP)

WASHINGTON, July 23, (AP): US President Donald Trump said he has reached a trade agreement with Philippine leader Ferdinand Marcos Jr, following a meeting Tuesday at the White House, that will see the US slightly drop its tariff rate for the Philippines without paying import taxes for what it sells there.

Trump revealed the broad terms of the agreement on his social media network and said the US and the Philippines would work together militarily. The announcement of a loose framework of a deal comes as the two countries are seeking closer security and economic ties in the face of shifting geopolitics in the Indo-Pacific region.

Marcos’ government indicated ahead of the meeting that he was prepared to offer zero tariffs on some US goods to strike a deal with Trump. The Philippine Embassy did not immediately respond to a message seeking comment. Marcos’ three-day visit to Washington shows the importance of the alliance between the treaty partners as China is increasingly assertive in the South China Sea, where Manila and Beijing have clashed over the hotly contested Scarborough Shoal.

Trump said on Truth Social that the US would impose a 19% tariff rate on the Philippines, down from a 20% tariff he threatened starting Aug. 1. In return, he said, the Philippines would have an open market and the US would not pay tariffs. Marcos described the lower 19% tariff rate to reporters in Washington as a “significant achievement” in real terms. He said his country was considering options such as having an open market without tariffs for US automobiles, but emphasized details were still left to be worked out. When asked whether the Philippines got the shorter end of the stick, Marcos said, “that’s how negotiations go.”

Without further details on the agreement, it’s unclear how it will impact their countries’ economies. Trump wrote that Marcos’ visit was “beautiful,” and it was a “Great Honor” to host such a “very good, and tough, negotiator.” Appearing before reporters in the Oval Office ahead of their private meeting, Marcos spoke warmly of the ties between the two nations.

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