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Samba Launches Credit Card with Various, Innovative Features

Samba Launches Credit Card with Various, Innovative Features
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Samba Launches Credit Card with Various, Innovative Features

Samba Launches Credit Card with Various, Innovative Features

Samba Financial Group has launched a new credit card, designed to give its customers unlimited distinction.

Samba “Unlimited” credit card provides card holders with a cashback feature every time they use the card for the purpose of purchasing.

It was designed according to a number of research and marketing visions to allow all its users have a cash refund of 1.5 percent of their total monthly purchases.

This makes the card an ideal companion for shoppers looking to double their credit rewards, and it is available in all Samba branches in the Kingdom.

The card is enhanced with unique and unlimited benefits offered by Samba credit cards, not to mention its travel and lifestyle features.

It allows its holders to access more than 1,000 private airport lounges around the world, with many exclusive shopping offers by European shopping malls, hundreds of free purchase offers and leisure and recreation offers.

The card also provides emergency and travel insurance in any country.

Samba Financial Group has always placed its customers at the center of its attention, said Branch Banking Head at Samba Financial Group Maan al-Kahmous.

Kahmous pointed to the extent to which Samba is committed in its continuous innovation process to improve product offerings.

He said it targets fulfilling its customers’ aspirations and contributing to enhancing its position as one of the leading banks in the field of credit cards in the Kingdom.

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Gold Jumps after Cooling US Jobs Report Boosts Rate Cut Hopes

Marked ingots of 99.99 percent pure gold are placed in a cart at the Krastsvetmet non-ferrous metals plant in the Siberian city of Krasnoyarsk, Russia March 10, 2022. REUTERS/Alexander Manzyuk/File Photo
Marked ingots of 99.99 percent pure gold are placed in a cart at the Krastsvetmet non-ferrous metals plant in the Siberian city of Krasnoyarsk, Russia March 10, 2022. REUTERS/Alexander Manzyuk/File Photo
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Gold Jumps after Cooling US Jobs Report Boosts Rate Cut Hopes

Marked ingots of 99.99 percent pure gold are placed in a cart at the Krastsvetmet non-ferrous metals plant in the Siberian city of Krasnoyarsk, Russia March 10, 2022. REUTERS/Alexander Manzyuk/File Photo
Marked ingots of 99.99 percent pure gold are placed in a cart at the Krastsvetmet non-ferrous metals plant in the Siberian city of Krasnoyarsk, Russia March 10, 2022. REUTERS/Alexander Manzyuk/File Photo

Gold prices hit their highest in over two weeks on Friday as Treasury yields and the dollar declined after data showed US economy created fewer jobs than expected in July, boosting hopes of rate cuts by the Federal Reserve this year, Reuters reported.

Spot gold was up 0.8% at $2,464.32 per ounce as of 1320 GMT, just $19 shy of the record peak of $2,483.60 scaled on July 17. US gold futures climbed 1% to $2,506.60.

"The drop in yields along with the reaffirmation that there is a cut in September just makes gold a lot more attractive," said Alex Ebkarian, chief operating officer at Allegiance Gold.

US 10-year yields dropped to their lowest since December and the dollar hit its lowest since March after data showed that employers added fewer jobs in July than economists had forecast, while the unemployment rate increased to 4.3%.

The data follows comments from Fed Chair Jerome Powell who on Wednesday said that rates could be cut as soon as September if the US economy follows its expected path.

Gold has gained 3.2% so far this week, on track for its best week since April, as rising safe-haven demand from Middle East tensions and expectations of rate cuts made the metal more appealing for investors.

Bullion is traditionally considered a hedge against geopolitical and economic risks, and lower interest rates reduce the opportunity cost of holding the asset.

"The marketplace just now is factoring in a better-than-70% chance for a 50-basis-point cut by the Fed at the September FOMC meeting," said Jim Wyckoff, senior market analyst at Kitco Metals in a note.

Elsewhere, spot silver added 1.2% to $28.88 per ounce, platinum rose 1.3% to $971.20 and palladium dropped 0.4% to $901.82. All three metals were headed for weekly gains.