UniCredit backs off 2008 target in uncertain market From Economic Times MILAN: Europe's No. 3 bank UniCredit said it could no longer promise 0.66 euros of earnings per share this year because market volatility cast uncertainty over its investment banking, sending shares to 2-1/2 year lows. Net profit at Europe's No. 2 bank, Spain's Banco Santander, rose 23 per cent in 2007, and it has forecast earnings per share up by more than 15 per cent this year. UniCredit said its exposure to US subprime-related assets had fallen to 118 million euros by the end of February...

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`We will continue to grow our business` From Business Standard Meera Sanyal, country executive, ABN Amro Bank, said it s interesting times to take over the reins, especially with ABN Amro s integration with Royal Bank of Scotland (RBS) underway. In India, ABN Amro Bank is in dialogue with the Reserve Bank of India (RBI). Since Fortis does not have the required licence in India to retain the private banking business, Fortis and RBS reached an agreement that the ABN Amro private clients businesses in India and Indonesia will become part of the RBS group....

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Online banking fraud on the decline From VNUNet.com Apacs reported that overseas fraud now accounts for 39 per cent of total card fraud losses, and typically occurs in countries which have yet to upgrade to chip and Pin. "Although card fraud levels have now begun to go up again due to fraud abroad and card-not-present fraud losses, chip and Pin has proved an undoubted success in reducing card fraud on the UK high street," said Sandra Quinn, director of communications at Apacs. However, authentication expert GrIDsure has slammed Apacs'...

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Singapore shares close sharply lower on US economic, subprime woes ... From Forbes More than 5 billion dollars of Carlyle's securities have already been sold, but the fund tried unsuccessfully to negotiate with the banks to prevent the liquidation of the remaining 16 billion dollars. 70 cents at 17.14 dollars and Oversea-Chinese Banking Corp 21 cents lower at 7.46 dollars. 64 cents to 10.36 dollars and Keppel Land declined 27 cents to 5.22 dollars. 46 cents to 14.42 dollars, while ST Engineering dropped 5 cents to 3.27 dollars.

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DePaul draws on Islamic banking boom From Chicago Tribune Amir Davoodi had read about the meteoric rise of Islamic banking, but the senior finance major at DePaul University didn't realize how intrigued he would become with the idea of mixing Islam and market finance until he took a course on the subject last fall. "There is a significant demand clicking up for people who understand the field and can design products that are Islamic and can answer the needs of the community," said Ali Fatemi, chair of DePaul's finance department, who was...

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