We discuss perturbative four-dimensional compactifications of both the SO(32) heterotic and the type-I string on smooth Calabi-Yau manifolds endowed with general non-abelian and abelian bundles. We analyse the generalized Green-Schwarz mechanism for multiple anomalous U(1) factors and derive the generically non-universal one-loop threshold corrections to the gauge kinetic function as well as the one-loop corrected Fayet-Iliopoulos terms. The latter can be interpreted as a stringy one-loop correction to the Donaldson-Uhlenbeck-Yau condition. Applying S-duality, for the type-I string we obtain the perturbative Π-stability condition for non-abelian bundles on curved spaces. Some simple examples are given, and we qualitatively discuss some generic phenomenological aspects of this kind of string vacua. In particular, we point out that in principle an intermediate string scale scenario with TeV scale large extra dimensions might be possible for the heterotic string.