Samba launches Visa Signature Premium Credit Card

Updated 24 December 2012
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Samba launches Visa Signature Premium Credit Card

Samba Financial Group, a major financial services group in the Middle East, has announced that it is the first bank in of Saudi Arabia to launch Samba Visa Signature Credit Card, offering cardholders a wealth of exclusive benefits and privileges.
The new premium credit card further enhances Samba’s leading position in the Saudi credit card market, enabling customers to enjoy the benefits of using Visa, the world’s leading global payment technology platform.
Majed Al-Saif, communications and PR manager, Samba Financial Group, said: “We are proud to partner with Visa to launch the first card of its kind in the Kingdom offering yet another premium card, giving them a broad range of exciting benefits and perks both domestically and when they travel abroad. The card gives our customers access to premium lounges at more than 29 major international airports, a number of privileges at retailers and merchants in the Kingdom and across the globe, Visa Signature concierge service 24 hours a day, seven days a week, and round-the-clock access to the banking services, using Samba’s state-of-the-art Internet and phone banking platform.”
Ihab Ayoub, GM of Visa for Saudi Arabia, Kuwait, Qatar, Bahrain, Oman & Yemen, said: “Visa Signature is perfectly aligned to meet the requirements of Saudi Arabia’s affluent segment, and is an innovative product with great rewards and travel benefits. Visa offers an all-encompassing series of payment products and is continually innovating by enhancing its range of products and services. The launch of Visa Signature card is the latest initiative in this direction. The Visa Signature card denotes a class above for the card holder, who can now experience incredible packages, higher rewards, special offers and upgrades all over the world.”


Kobe Steel posts first profit in three years despite data fraud scandal

Updated 9 min 5 sec ago
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Kobe Steel posts first profit in three years despite data fraud scandal

TOKYO: Kobe Steel, Japan’s third-biggest steelmaker, on Friday posted its first annual profit in three years, even after admitting to falsifying quality data, a scandal that affected hundreds of customers and hit Japan’s manufacturing prowess.
Kobe Steel reported profit of ¥63.19 billion for the year ended March 31, against a loss of ¥23.05 billion a year earlier.
The result was above its own forecast of ¥45 billion and an estimate of ¥49.56 billion among seven analysts surveyed by Thomson Reuters.
The company predicted a ¥45 billion profit for the year to March 2019, compared with a mean profit forecast of ¥44.62 billion from six analysts.
Kobe Steel, which supplies steel and aluminum parts to manufacturers of cars, planes and trains around the world, admitted to supplying products with falsified specifications to more than 600 customers and admitted the data fraud has been going on for nearly five decades.