Latest news with #Citibank
Daily Mail
7 hours ago
- Business
- Daily Mail
Battle between Amex and Chase for top travel perks credit cards takes a twist
Amex and Chase have long battled it out to offer consumers the credit card with the best travel perks, but now they face a new rival. Citibank is introducing its own premium credit card focused on luring in wealthy globe-trotters. The banks upcoming 'Strata Elite' card will come in the third quarter of the year, the bank revealed on Tuesday. Details of whether the card will come with a fee have not yet been disclosed. The swanky new offering with be a direct rival to Chase's 'Sapphire Reserve' card and American Express's travel-focused 'Platinum' card. 'Part of competing in this space is ensuring we have innovative products that appeal to the needs and interests of our customers,' Citigroup's Chief Financial Officer Mark Mason said in a statement. It marks a return to premium credit cards for the bank after it stopped taking applications for its $495-a-year Prestige card in 2021. The new card will be overseen by exec Pam Habner who previously launched the Sapphire Reserve for Chase in 2016. The popular Sapphire card recently announced that it would be hiking its annual fee to $795 up from $550. The bank said the revamped card will offer more than $2,700 in value, with expanded benefits across travel, dining, and entertainment. That includes a $500 credit at its network of hotels and resorts, a $300 dining credit at select restaurants, and $300 in credits for StubHub or Viagogo purchases. Subscribers will also receive complimentary access to Apple TV+ and Apple Music, valued at $250 annually, plus a new program that doubles the redemption value of points on select travel bookings. High spenders — those who charge $75,000 or more annually — will unlock additional perks, including elite status with Southwest Airlines and IHG Hotels & Resorts. Travel perks remain one of the biggest draws for consumers choosing a credit card. As such American Express is planning its 'largest investment ever' into travel-focused cards this year. 'We're going to take these cards to a new level, not only in what they offer in travel, dining and lifestyle benefits, but also in how they look and feel,' Amex boss Howard Grosfield said last month. The card will be overseen by Pam Habner who previously launched the Sapphire for Chase Chase recently announced that it would be hiking its annual Sapphire fee to $795 up from $550. Its Platinum card, which offers customers access to its global airport lounges, currently costs $695 a year. Meanwhile, a recent report showed how the value of credit card reward points has been gradually falling - as inflation has taken hold. A reward point has long been worth around one cent when used to cover other purchases. But one cent has lost around 20 percent of its purchasing power since 2018, according to the Bureau of Labor Statistics. This means a point has also fallen in value by about the same amount. If you built up 50,000 points with a major credit card issuer in 2020 and still have not spent them, they are now worth about 41,300.
AsiaOne
16 hours ago
- AsiaOne
Police warn of scammers impersonating staff from National Crime Prevention Council, Singapore News
Scammers are posing as staff members from the National Crime Prevention Council (NCPC) to phish for personal information in a new scam variant, the police have warned. These scammers would make unsolicited phone calls to members of the public, some of whom were told that their identities had been stolen and used to apply for credit cards, or to register phone numbers that were allegedly involved in criminal activities. The police said that in one case, the scammer had transferred the call to another "officer" from NCPC, who talked to the victim via WhatsApp. The scammer sent fake official documents to the victim to enhance his credibility. The victim was then instructed to transfer money into a "safety account" as part of police investigations. The victim only realised he had fallen for a scam after telling his family member about the alleged investigations, prompting the family to verify directly with the police. Senior Assistant Commissioner Devrajan Bala, director of the police's Scam Public Education Office and executive director of NPCP, said they had received information about this scam variant from the ScamShield Helpline. "I would like to assure the public that NCPC staff will never ask you to transfer money or disclose your bank login details," he said, adding that NCPC is a non-profit organisation and does not possess any investigative powers. Scammers also impersonating Citibank staff In a separate joint advisory with Citibank, the police said there has been a recent increase in phishing scams involving the impersonation of the bank's staff. At least nine cases have been reported since June 27, with losses of at least $153,000. Victims of this scam variant would receive calls from unknown caller IDs or private numbers from a "staff" from Citibank's Fraud Department, who would provide the victims' name, recent credit card transaction history and credit card information. Pretending to assist in urgently reversing fraudulent or suspicious transactions, the scammer would then ask victims to disclose the bank's authorisation OTPs which have been sent to them via SMS. These would be used to make unauthorised transaction in their Citibank accounts and in some cases, used to take over the victims' internet banking accounts. Victims would only realise that they had been conned when they discovered unauthorised transactions, typically in foreign currencies such as British Pound Sterling, being made on their cards. The police and Citibank urged members of the public to never provide bank account details or OTP to any unknown persons, and to carefully read OTP notifications and report unauthorised transactions to the bank. The public are also advised to take precautions to avoid falling for scams by using the ACT (Add, Check, Tell) framework, which involves adding the ScamShield app and setting security features. The public can also use the ScamShield app or website to check the legitimacy of suspicious messages, phone numbers and website links. [[nid:720323]]
See - Sada Elbalad
a day ago
- Business
- See - Sada Elbalad
Silver Hits Record High as Egyptian Silver Pound Surges to EGP 496 for the First Time
Waleed Farouk Silver prices surged significantly on Wednesday, reaching their highest level since September 2011, driven by growing investment demand and improved market sentiment toward precious metals. Local Market Surge In Egypt, the price of 800 purity silver rose by EGP 1 to reach EGP 54 per gram. The 999 purity silver was priced at EGP 67, while the 925 purity silver was priced at EGP 62 per gram. Notably, the 925 silver pound jumped to a record EGP 496 — the highest in its history. Global Rally Globally, the price of silver rose by nearly $1 per ounce to reach $39.37, its highest level in more than 13 years. Since the start of 2025, silver has gained around 37%, making it one of the best-performing assets of the year, as investors seek protection against economic and geopolitical instability. Drivers Behind the Rally Several factors have contributed to silver's ongoing uptrend: Expectations of a Fed rate pause in the upcoming July meeting. Mounting concerns over a global economic slowdown are prompting investors to increase exposure to safe-haven assets. Ongoing supply chain disruptions and growing industrial demand, particularly from the solar energy and tech sectors, continue to support prices amid tightening global supply. Silver Outperforming Gold The silver-to-gold ratio — which measures the relative value of the two metals — fell to 87.16, down from 87.32 on Tuesday, indicating silver's relative outperformance. In Egypt's local market, silver has climbed 32% year-to-date, with 800 purity silver rising by EGP 13 from EGP 41 in January. Globally, the ounce has jumped from $29 to $39.73, delivering stronger returns than most other precious metals over the same period. Positive Outlook Ahead Silver's upward trajectory appears likely to continue, supported by several key developments: U.S. Treasury yields have declined, with the 10-year yield falling to 4.42% and the 2-year yield to 3.87%, increasing the appeal of non-yielding assets like precious metals. Citibank forecasts silver to reach $40 within the next 6 to 12 months and possibly surpass $46 by Q3 2025, driven by robust industrial demand and tightening supply. Silver remains undervalued relative to gold: with the current gold-to-silver ratio at 87.3, a reversion to the historical average of 53 could push silver prices to over $63 per ounce. Significant Upside Potential Historically adjusted data shows that silver's all-time high in 1980 would equal approximately $197 per ounce in today's dollars, while the 2011 rally peaked near $71. Current levels between $38–$39 are still relatively low — signaling considerable room for further appreciation in the near term. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Sports Get to Know 2025 WWE Evolution Results News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks
NDTV
2 days ago
- NDTV
" Kamaa Ke Khana Chahiye": Chief Justice On Mumbai Home, BMW, Alimony Demand
New Delhi: A woman's petition for a large alimony -- a house in Mumbai and Rs 12 crore as maintenance -- in a marital dispute case prompted Chief Justice of India BR Gavai to note that she is highly qualified and must earn her livelihood. When the Chief Justice asked what she wanted, the woman replied that she wanted a house in Mumbai, Rs 12 crore as maintenance and a high-end BMW car. "But that house is in Kalpataru... one of the good builders. You are an IT person. You have done your MBA. You are in demand in Bengaluru, Hyderabad... Why don't you work?" the Chief Justice replied. "You had a marriage for just 18 months. And you also want a BMW?" he added, noting that the woman was practically asking for an alimony of Rs 1 crore for every month of her 18-month marriage. To this, the woman replied, "But he is very rich. And he sought the nullity of the marriage, claiming that I am schizophrenic." Senior Advocate Madhavi Divan, appearing for the husband, told the court, "She has to work also. Everything cannot be demanded like this." "Do I look schizophrenic, my lords?" the woman asked. The Chief Justice then reminded the petitioner that she cannot claim properties belonging to her estranged husband's father. The woman, who was representing herself, told the bench that her husband worked as a Citibank manager and also runs two businesses. "I wanted a child, but he didn't give me a child. He filed for divorce, saying that I am schizophrenic," she said. She also alleged that her husband forced her to quit her previous job. The court then went through the husband's tax returns as his lawyers pointed out that his income had declined after he quit the job. The Chief Justice then told the woman to "be satisfied" with the flat and take up a "good job". "Or you better take those 4 crore, find a good job in Pune, Hyderabad, Bangalore... there is a demand in IT centres," he said. "Aap itni padi likhi hai. Aapko khudko mangna nahi chahiye aur khudko kama ke khana chahiye (You are so educated, you must not ask and earn your livelihood)," the Chief Justice said. The order in the case has been reserved.
Associated Press
3 days ago
- Business
- Associated Press
DIVIDEND ALERT: US$0.836 CASH DIVIDEND TO BE DISTRIBUTED ON JULY 25 TO ChipMOS ADS HOLDERS PRE-WITHHOLDING TAX AND FEES
HSINCHU, July 21, 2025 /PRNewswire-FirstCall/ -- ChipMOS TECHNOLOGIES INC. ('ChipMOS' or the 'Company') (Taiwan Stock Exchange: 8150 and Nasdaq: IMOS), an industry leading provider of outsourced semiconductor assembly and test services ('OSAT'), announced an US$0.836 cash dividend per ADS (or approximately US$0.640 per ADS after Taiwan's withholding tax and Citibank, N.A.'s depositary fees) will be distributed on July 25, 2025. ADS holders are encouraged to check with their securities brokers for receipt of dividend payments. Any questions should be directed to Citibank, N.A.'s Tiffany Ma (Tel: +1-973-461-5734 or [email protected] ). About ChipMOS TECHNOLOGIES INC.: ChipMOS TECHNOLOGIES INC. ('ChipMOS' or the 'Company') (Taiwan Stock Exchange: 8150 and Nasdaq: IMOS) ( ) is an industry leading provider of outsourced semiconductor assembly and test services. With advanced facilities in Hsinchu Science Park, Hsinchu Industrial Park and Southern Taiwan Science Park in Taiwan, ChipMOS is known for its track record of excellence and history of innovation. The Company provides end-to-end assembly and test services to leading fabless semiconductor companies, integrated device manufacturers and independent semiconductor foundries serving virtually all end markets worldwide. Forward-Looking Statements This press release may contain certain forward-looking statements. These forward-looking statements may be identified by words such as 'believes,' 'expects,' 'anticipates,' 'projects,' 'intends,' 'should,' 'seeks,' 'estimates,' 'future' or similar expressions or by discussion of, among other things, strategies, goals, plans or intentions. These statements may include financial projections and estimates and their underlying assumptions, statements regarding tariffs and the imposition of potential new tariffs that affect our products or operations, government policies, global trade environments, pricing, plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance. Actual results may differ materially in the future from those reflected in forward-looking statements contained in this document, due to various factors. Further information regarding these risks, uncertainties and other factors are included in the Company's most recent Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the 'SEC') and in the Company's other filings with the SEC. View original content: SOURCE ChipMOS TECHNOLOGIES INC.
