Posts Tagged ‘finance’

Why Pope Francis praises entrepreneurs and condemns speculators Comments 0

Thursday, June 15th, 2017

The answers that Pope Francis gave to workers at a steel plant in Genoa, Italy, last month suggested an important distinction in the Holy Father’s economic thinking, one that addresses the increasing importance of the financial sector in the contemporary economy. In meeting the workers of the Ilva steel factory May 27, Pope Francis had Read more

CDF prefect not involved in finance irregularities: Vatican Comments 0

Tuesday, December 15th, 2015

The Vatican has denied reports that the Prefect of the Congregation for the Doctrine of the Faith was involved in financial irregularities. Vatican spokesman Fr Federico Lombardi, SJ, confirmed investigations were being carried out in the CDF, led by Cardinal Gerhard Müller But the spokesman denied the cardinal’s involvement in any wrong-doing. “The superiors of Read more

New Zealand Muslims offered interest-free mortgages Comments 1

Friday, May 8th, 2015

A  finance company is planning to provide interest-free mortgages to Muslims. Paying or receiving interest on loans is forbidden in Islam. Islamic loans involve various alternative ways for the borrower to repay the lender at a premium, while technically not charging interest. Brian Henry, managing director of Amanah Ethical, said it was important to understand Read more

Cardinal questions revelation of Vatican asset figures Comments 0

Tuesday, February 24th, 2015

The cardinal who heads the Vatican’s economic oversight body has questioned the releasing of Vatican asset figures to the media by Cardinal George Pell. Earlier this month, Cardinal Pell, who is prefect of the Secretariat for the Economy, told media the Vatican had US$1.5 billion in assets that had not been previously accounted for. German Read more

Vatican property office submits to outside audit Comments 0

Friday, October 18th, 2013

Four months after one of its accountants was arrested for alleged involvement in a multi-million cash smuggling scheme, the Vatican property office has said it will submit its operations to outside financial review. The move by the Administration of the Patrimony of the Holy See, an office of the Vatican’s central bureaucracy, may represent the Read more

Good and bad money news for Holy See Comments 0

Tuesday, July 9th, 2013

The Holy See has recovered from one of its worst deficits to post a $NZ3.6 million surplus for 2012, a good news story announced in a week in which “clear failings” were revealed in the processes of the Vatican Bank. In its annual financial statement, the Holy See said better management had helped it recover Read more

Hundreds of churches in Germany are closing Comments 0

Tuesday, February 19th, 2013

Because of declining church attendances and financial difficulties, hundreds of Catholic and Protestant churches in Germany are closing. One estimate is that 15,000 of the 45,000 churches in the country will soon be no longer needed. “These buildings are simply too opulent, too empty and too expensive to maintain, something akin to an aging grandmother Read more

Holy See finances show biggest deficit in decade Comments 0

Tuesday, July 10th, 2012

The Holy See has suffered its largest budget deficit for 10 years, but growing numbers of visitors to the Vatican Museums gave the Vatican City State a healthy surplus. The Holy See finances for 2011 recorded a deficit of 14.9 million euros ($NZ22.9 million). Its budget covers the Vatican Secretariat of State and its worldwide Read more