stc Group and Kyndryl Join Forces to Drive Multicloud Innovation in the Region
stc Group has announced a multiyear strategic partnership with Kyndryl to develop an advanced multicloud management platform strategy. Aligned with Saudi Vision 2030, this initiative aims to simplify cloud adoption for stc customers and partners by enabling seamless integration of hyperscaler cloud services.
Built on Kyndryl technology, the stc platform will provide a secure, scalable solution to help maximize the benefits of hyperscaler cloud services, along with digital and automation capabilities, while enabling innovation and ensuring governance and operational control.
stc Group and Kyndryl will also leverage their combined capabilities to create new digital services, utilizing stc Group's digital prowess and Kyndryl's multicloud hyperscaler-agnostic platforms, skills and processes, as well as its end-to-end industry expertise across sectors.
Anwar I. Alsubhi, General Manager of Cloud Services at stc, said: 'Through our unified cloud services brokerage platform based on Kyndryl technology, stc Group is set to become the premier digital gateway for key sectors in Saudi Arabia. This partnership, aligned with Vision 2030, marks a significant step toward elevating our digital leadership expertise and delivering world-class connectivity.'
Pieter Bil, Vice President and Managing Director of Kyndryl Middle East and Africa, stated: 'This offering will propel modernization journeys to new heights, delivering hyperscaler capabilities within a single unified platform. By harnessing this integrated solution, stc customers and partners will gain a powerful competitive edge in today's rapidly evolving landscape. At Kyndryl, we take pride in being a trusted partner of stc, driving innovation and empowering organizations to lead in their industries.' 0 0
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
a day ago
- Zawya
Saudi Arabia pavilion commemorates 70th anniversary of Saudi Japanese diplomatic relations
Osaka, Japan — The Saudi Arabia Pavilion at Expo 2025 Osaka celebrates the 70th Anniversary of diplomatic relations between the Kingdom of Saudi Arabia and Japan. On June 7, 1955, the two nations established formal diplomatic ties – a historic milestone that laid the foundation for a long-standing partnership. The relationship has evolved over the decades into a multifaceted alliance that promotes cultural exchange and diplomatic cooperation, with a significant economic impact for both countries. Most recently, in February 2025, the two nations signed a Memorandum for Establishing a Strategic Partnership Council, which would be chaired by the leaders of both nations. In the last decade, bilateral trade has grown significantly, from $33.4 billion to $41 billion, with trade volumes now surpassing $41 billion. At Expo 2025 in Osaka, the Saudi Arabia Pavilion is hosting hundreds of business events to foster trade and investment relations between Saudi Arabia and Japan, featuring presentations led by the Ministry of Investment and the Ministry of Commerce, as well as events focused on the opportunities presented by Vision 2030. Dr. Ghazi Faisal Binzagr, Ambassador of the Kingdom of Saudi Arabia to Japan and Commissioner General of the Saudi Arabia Pavilion, said, 'The Saudi-Japanese relationship has grown from strength to strength over seven decades. It runs deeper than just economic partners. It is a testament to the depth of diversity in the relationship we have. Together, with the strength of our history behind us, and the momentum of our present, we are poised to define the future.' 'With Expo 2025 underway in Osaka and the next Expo in Riyadh in 2030, our two nations are at the forefront of global exchange, showcasing the latest innovations, sustainable technologies, and helping shape tomorrow's multilateralism,' Dr. Ghazi concluded. As Saudi Arabia and Japan look to the future, the ongoing Expo 2025 Osaka aims to increase Japanese visitation to Saudi Arabia. The Kingdom aims to attract 30,000 Japanese visitors annually in the lead up to Expo 2030 Riyadh. This forms part of the broader Saudi Arabia–Japan Vision 2030 Strategy, which includes over 80 projects involved across nine sectors: food and agricultural security, media and entertainment, medical care, high-quality infrastructure, finance and investment, competitive industries, energy, SMEs, sport, education, and culture. Cultural exchange has also blossomed as Saudi Arabia emerges as the hub in the Middle East for Japanese culture through its home-grown Manga Studios, which are on display in August at the Saudi Arabia Pavilion. along with the enthusiastic support of over 700,000 visitors to the Saudi Arabia Pavilion since April 13th2025. The Saudi Arabia Pavilion hosts over 700 events across the Expo 2025 Osaka program, including daily performances and live shows. The site offers an exciting visitor journey through seven immersive rooms. Additionally, Saudi Arabia will host its National Day on September 23rd with a full array of events and presentations. Media Contact: Email: Media@ Website & Social Media Handles: Instagram: @ksaexpo2025 X: @KSAExpo2025_ YouTube: @KSAExpo2025 LinkedIn: Saudi Arabia at Expo Facebook: KSA Expo 2025 TikTok: @ksaexpo LINE: KSA 大阪万博2025 Website:
Al Etihad
2 days ago
- Al Etihad
Fitch reaffirms TAQA's credit rating at ‘AA Stable'
7 June 2025 15:42 A. SREENIVASA REDDY (ABU DHABI)Fitch Ratings has reaffirmed Abu Dhabi National Energy Company's (TAQA) long-term credit rating at 'AA' with a Stable Outlook, underscoring the company's robust financial profile and strategic importance to the Abu Dhabi rating reflects TAQA's classification as a government-related entity, with Fitch assuming 'virtually certain' support from the Abu Dhabi government in all financial continues to enjoy the same sovereign rating as the government of Abu Dhabi, based on the expectation that its obligations would be fully supported if needed. Alongside this, Fitch Ratings has maintained TAQA's standalone credit profile (SCP) at 'bbb+', recognising the company's solid operational fundamentals.'The standalone profile reflects TAQA's strong business fundamentals, which are supported by its dominant presence in Abu Dhabi and a substantial portion of regulated and quasi-regulated earnings. We expect higher capex in 2025-2028 to increase its funds from operations,' Fitch Ratings observed in its latest agency highlighted that regulated and quasi-regulated businesses contributed 51% and 34%, respectively, to TAQA's 2024 EBITDA, underlining the company's stable revenue base. 'It has a leading position in Abu Dhabi as a fully integrated utility,' the agency cited several factors that justify the continued strong rating for TAQA, a key player in the region's energy infrastructure. 'We see no effective substitutes for TAQA given its role in the energy system of Abu Dhabi. TAQA has a large share in power generation and water desalination, monopoly in the electricity and water transmission and distribution (T&D), and wastewater treatment,' the report strategic investments have further reinforced TAQA's position. The 2024 acquisition of Sustainable Water Solutions Holding Company (SWS) and an equity stake in Abu Dhabi Future Energy Company (Masdar) have bolstered the company's capabilities as a leading integrated utility. 'A TAQA default could also affect the cost of funding for the sovereign, given its large size and activity on capital markets,' Fitch expects the regulatory framework governing electricity and water T&D in Abu Dhabi to remain stable and transparent, with effective cost-recovery mechanisms that compare favourably to other emerging markets. It also anticipates continued and timely subsidy payments from the state, supporting TAQA's financial ahead, Fitch forecasts that TAQA will receive increased earnings contributions from its associate companies over 2025–2028, amounting to Dh1 billion annually, with half of that expected from ADNOC Gas, in which TAQA holds a 5% stake. 'We do not forecast any dividends from Masdar, given its ambitious growth plans and targets,' the agency remains committed to Vision 2030, particularly in transmission, distribution, water, and power generation. Fitch estimates that Dh8 billion will be injected over 2025–2026, reinforcing TAQA's long-term investment trajectory. 'TAQA also plays an important role in achieving Abu Dhabi's energy targets of 2050, through its commitment to invest around Dh75 billion in 2021–2030, of which Dh26.7 billion were invested in 2021–2024,' Fitch summary, TAQA's reaffirmed rating is anchored in its strong business profile, stable cash flows, supportive regulatory environment, and strategic position in Abu Dhabi's utilities sector, backed by the near-certain support of the government. ADQ, the sovereign wealth fund, holds over 90% stake in TAQA, which is listed on the Abu Dhabi Securities Exchange with market cap of Dh370 billion. Source: Aletihad - Abu Dhabi
Martechvibe
3 days ago
- Martechvibe
Why Most Businesses Are Still Struggling to Win with AI
AI is everywhere. It's the cornerstone of transformation roadmaps, the centrepiece of boardroom conversations, and increasingly, the north star of enterprise innovation. A recent Qlik study revealed that 86% of senior executives say AI is now central to their organisation's business strategy. Yet, only a small fraction are seeing the meaningful business outcomes they hoped for. A parallel report by Kyndryl paints a similar picture. Despite the enthusiasm, most businesses are still stuck in the early phases of AI maturity. Only 5% of organisations are considered 'AI Pacesetters'— those that successfully use AI at scale and see significant returns. So what's going wrong? The AI Execution Gap Is Real Both reports point to a sobering truth: strategy alone isn't enough. There's a wide and growing gap between AI ambition and AI execution, and it's costing companies time, money, and competitive advantage. 'Organisations clearly recognise that merely investing in AI is insufficient; what matters now is delivering tangible outcomes. Yet, as our research underscores, the road to production AI remains blocked by persistent hurdles—cost, complexity, and data fragmentation,' said Mike Capone, CEO of Qlik. Closing the AI execution gap requires more than aspiration—it demands practical solutions that simplify data integration, ensure governance, and empower better decision-making. This pressure is even more intense with generative AI dominating leadership agendas. The pace of genAI evolution amplifies organisational anxiety and widens the gap between intent and capability. Eric Hanselman, Chief Analyst at S&P Global Market Intelligence, said, 'The fast-evolving GenAI landscape pressures enterprises to move swiftly, sometimes sacrificing caution as they strive to stay competitive. Many are deploying GenAI tools before fully understanding their implications, especially with the surge of SaaS platforms embedding genAI capabilities.' Recent research from S&P, 'The 2025 Thales Data Threat Report' revealed that nearly 70% of organisations consider the fast pace of generative AI development the leading challenge tied to AI adoption, followed by concerns over integrity (64%) and trustworthiness (57%). Enterprises are leveraging AI to accelerate product development, enhance CXs, improve training, speed drug discovery, and optimise operations. However, the rapid adoption of genAI introduces complex challenges that organisations must navigate carefully. The Five Core Blockers Include: 1. Workforce Inertia and Fear Kyndryl found that 71% of leaders believe their workforce isn't ready to adopt AI. 45% say there's active resistance or even fear of job displacement due to AI. 2. Talent and Skills Shortages Over half of the organisations surveyed (51%) admit they lack the necessary AI-skilled talent to scale effectively. Many are not investing fast enough in reskilling or change management. 3. Data Complexity Qlik's report shows most organisations are bogged down by fragmented data systems, legacy infrastructure, and inconsistent governance models. Nearly 80% of respondents say these issues are their biggest barriers to realising AI's full potential. 4. Leadership Disconnects
