Standard Chartered has announced the launch of its new Journey and Rewards Visa Credit Cards focused on lifestyle and travel.

 

These cards offer a suite of benefits that simplify travel and transform everyday spending into extraordinary experiences.

 

From earning 360 reward points on every Bahraini Dinar spent to enjoying the lifestyle privileges, the card aims to elevate the lifestyle of its users.

 

On the new product, Kunal Varma, Head, Wealth and Retail Banking (WRB), Bahrain at Standard Chartered, said: "We're proud to offer our customers the products that are tailored to provide enriching experiences, extensive rewards and benefits that empower cardholders to explore the world with confidence."

 

"Standard Chartered is committed to providing exceptional banking solutions that align with the lifestyles of our customers. The launch of Journey and Rewards Visa Credit Cards is testament to this commitment, designed for those who prioritize experiences in their lives," he stated.

 

"To celebrate the launch, we are offering an exclusive promotion for early applicants for these cards. Customers who apply for the Standard Chartered Journey and Rewards Visa Credit Cards before  November 15 will stand a chance to win 1 million reward points. In total, 50 winners to be chosen through a raffle draw to win from10,000 to 1 million rewards points," he added.

 

Malak Alsaffar, Visa's Country Manager for Bahrain, said rewarding propositions like the new Journey and Rewards Visa Credit Cards are an excellent way to incentivize consumers to embrace digital payments, aligning perfectly with Bahrain's digital economy agenda.

 

"Standard Chartered customers will not only benefit from exclusive rewards and lifestyle privileges but also enjoy peace of mind with Visa's advanced security technology and worldwide acceptance at 130 million merchant partners, ensuring a seamless and secure experience wherever their travels take them, stated Alsaffar.

 

"We’re delighted to partner with Standard Chartered on this exciting new product," she added.-TradeArabia News Service

ASB Capital, a purpose-driven asset management firm, has announced plans to launch a new global equity shari’a fund which will be managed in partnership with State Street Global Advisors (SSGA), a major asset manager headquartered in Boston, US. 

 

The Fund will provide institutional investors, family offices, and individual investors exposure to a broad universe of publicly listed companies across global equity markets. 

 

The Fund, which will be domiciled in the Dubai International Financial Centre (DIFC) and regulated by the Dubai Financial Services Authority (DFSA), leverages, through delegation of investment management to SSGA.

 

SSGA’s decades-long expertise in active equity management will help deliver long-term value for investors seeking shari’a-compliant, ethical investment solutions.

 

Managed by SSGA’s Active Fundamental Equity team, which oversees $18 billion in assets under management (AUM) as of December 31, 2024, the Fund leverages on a research-driven investment approach honed over 30 years. 

 

With the backing of SSGA’s proprietary Confidence Quotient Framework, the team identifies high quality, durable-growth companies with strong fundamentals and attractive valuations, it stated.

 

ASB Capital Senior Executive Officer Hichem Djouhri said the Fund reflects the group’s ongoing commitment to innovation and forming strategic partnerships with renowned global asset managers, unlocking access to global markets for investors in the region and beyond.

 

"Our collaboration with State Street Global Advisors allows us to offer investors unique opportunities to diversify their portfolios across sectors and geographies. Together, we are bringing world-class investment opportunities to the region and advancing the growth of shari’a compliant ethical investment solutions," he stated.

 

"The global Shari’a compliant finance industry is expected to surpass $3.5 trillion by 2025, driving an increasing demand for ethical investment products," he added. 

 

Emmanuel Laurina, Head of Middle East & Africa at State Street Global Advisors said: "By working with ASB Capital, we combine their deep regional insight with our global capabilities, providing investors with access to a curated portfolio of high conviction and high-quality global equities."

 

"This collaboration allows us to deliver a sustainable, investment product that aligns with the rising demand for shari’a compliant ethical investment solutions focused on strong fundamentals and targeting long-term growth," he added.-TradeArabia News Service

Kuwait equity market has been the top performer among GCC markets in the first quarter, gaining 9.7% for the quarter, according to Kuwait Financial Centre (Markaz). 

 

However, Kuwait markets were slightly negative in March 2025 following five consecutive months of positive performance, stated Markaz in its Monthly Market Review report.

 

Kuwait’s All Share Index declined by 0.3%, with mixed performance across sectors. Healthcare and insurance were the top gainers, rising by 9.9% and 3.3% respectively. The banking sector index gained 0.7% for the month. 

 

Among banking stocks, Burgan Bank and Commercial Bank of Kuwait were the top gainers, with a monthly return of 6.2% and 5.3% respectively. Commercial Bank of Kuwait’s net profit for FY 2024 increased by 41.4% y/y due to higher loan loss recoveries, increase in net interest income and fee income. 

 

Among Premier market stocks, Integrated Holding Company and Jazeera Airways were the top gainers, rising by 8.6% and 6.9% respectively for the month. 

 

Integrated Holding recorded a net profit of KD6.88 million for FY 2024, an increase of 67.7% y/y. Steady increase in demand for equipment services and reversal of provision for doubtful debt due to realization had contributed to the rise in profit.

 

Kuwait has passed the long-awaited public debt law, which would enable the country to raise debt in the international markets. 

 

The new law sets the ceiling for public debt at KD30 billion ($97.4 billion) and the ceiling for maturities of issued financial instruments at 50 years. 

 

In its budget for FY 2025/26, in the light of lower oil prices (estimated at $68/barrel) and Opec+ production cuts, the country has estimated a budget deficit of KD6.3 billion. 

 

With the earlier debt law expiring in 2017, the country has been drawing from its General Reserve Fund to fund its deficit. The new law would enable it to finance the deficit by raising debt from international markets. 

 

Kuwait’s CPI rose by 2.49% y/y in February 2025, remaining steady compared to 2.5% y/y increase in January 2025. The food and beverages segment continued to be the major driver, rising by 5.23% y/y.

 

The S&P GCC Composite index declined by 1.1% in March 2025 with all GCC markets in red weighed by trade war concerns and geopolitical tensions. Saudi equity index declined by 0.7% during the month. 

 

Acwa Power and Saudi Aramco had declined by 7.6% and 1.3% respectively for the month. Saudi Aramco’s net profit for FY 2024 declined by 12.4% y/y to $106.2 billion on the back of lower oil prices.