Latest news with #HolyFather
Herald Malaysia
13 hours ago
- Business
- Herald Malaysia
Vatican Bank reports RM159 million profit in 2024
The Vatican Bank, officially known as the Institute for the Works of Religion (IOR), reported a net profit of €32.8 million (RM158,952 million) for 2024, a seven per cent increase from the previous year. Jun 20, 2025 The Vatican Bank. (CNA/Andrea Gagliarducci VATICAN: The Vatican Bank, officially known as the Institute for the Works of Religion (IOR), reported a net profit of €32.8 million (RM158,952 million) for 2024, a seven per cent increase from the previous year. The growth was driven by higher interest, commission, and brokerage income, along with tighter cost control. The total volume of client assets rose to €5.7 billion (RM27 billion), and net assets increased to €731.9 million (RM3.5 billion). The IOR's strong performance also led to a dividend of €13.8 million (RM66 million) being allocated to the Holy Father, reaffirming its mission to support the Church's religious and charitable works. All investments were conducted in line with Catholic social teaching, with 100 per cent of asset management lines posting gains and 79 per cent outperforming their benchmarks. The bank's Tier 1 capital ratio — a key indicator of financial stability — reached 69.43 per cent, a 16.1 per cent rise from 2023, due to reduced risk exposure and stronger equity. This places the IOR among the most well-capitalised financial institutions globally in terms of liquidity and solvency. Improvements in technology and staffing in 2024 further enhanced the IOR's operations and customer service. As the only financial institution authorised to operate within Vatican City, its audited financials confirmed compliance with international accounting standards and another year of stable, sustained growth. --CNA
Time of India
a day ago
- Entertainment
- Time of India
Jenn Osborne's 'Holy Ghost' explores the supernatural through redemption and truth
The makers of 'Holy Ghost' have unveiled the gripping trailer of Jenn Osborne's upcoming horror-mystery, and it promises more than just jump scares. Unlike typical ghost stories, "Holy Ghost" delves into themes of redemption, buried truths, and emotional reckoning. Set against an eerie backdrop, the film follows a deeply human journey wrapped in a chilling narrative. The trailer begins with eerie glimpses of a remote American town, accompanied by a chilling narration from Grace Brown-a young woman recently rescued from a kidnapper's farm. Her startling revelation that a long-deceased police officer was behind her rescue triggers a spine-tingling series of events. As Detective Madison Wells investigates, she's pulled into a world where the line between the living and the dead grows increasingly blurred. The trailer sets the tone for a gripping supernatural mystery. Jenn Osborne brings intensity to her role as Detective Wells, while Maya Adler's portrayal of Grace delivers emotional depth. Aaron Blomberg's haunting performance as the spectral officer adds an unsettling edge to the narrative, promising a ghost story layered with psychological and emotional complexity. Speaking about the film, producer Sandip Patel emphasized that "Holy Ghost" goes beyond a typical ghost story, exploring themes of redemption, truth, and the powerful grip of the past on the present. He noted that the trailer offers just a glimpse of the layered narrative that awaits audiences. Patel also shared that the film introduces a new style of horror-one that blends emotional depth with spine-chilling suspense. The upcoming horror thriller has been directed by 'Murshid' fame Shravan Tiwari. "Holy Ghost" is set to hit theatres across India on August 1, 2025, with distribution handled by Cinepolis India. Interestingly, NRI producer Sandip Patel, who is set to debut in Hollywood with "Holy Ghost," has already unveiled plans for its sequel, titled "Holy Father."
The Hindu
2 days ago
- Business
- The Hindu
Cash-strapped Vatican unveils fundraising video centred on Pope Leo
The Vatican on Wednesday (June 18, 2025) unveiled a fundraising video centred on newly elected Pope Leo, urging the faithful to support his mission amid a serious financial crisis for the Catholic Church. The slick one-minute video was shown on giant screens in St. Peter's Square to crowds waiting for the pope's weekly audience, and spread on social media and the internet by Vatican news outlets. It starts with footage of the white smoke that announced Pope Leo's election on May 8, followed by his first words as pope, "Peace be with you all", and images of cheering crowds, all accompanied by gentle piano music. The video urges people to donate to Peter's Pence - a papal fund used to support church activities and charity work which, according to latest available records, received 48.4 million euros ($55.66 million) in donations in 2023. The pope's home nation, the United States, accounted for the biggest share, equal to just over 28% of the total, but expenses far outstripped offerings, with the fund disbursing 103 million euros in the year, the Vatican said. "With your donation to Peter's Pence, you offer tangible support as the Holy Father takes his first steps as Pope. Help him proclaim the Gospel to the world and extend a hand to our brothers and sisters in need," the video says. Although the Vatican has not published a full budget report since 2022, the last set of accounts, approved in mid-2024, included an 83-million-euro ($94-million) shortfall, two knowledgeable sources told Reuters. The shortfall in the pension fund was estimated to total around 631 million euros by the Vatican's finance czar in 2022. There has been no official update to this figure, but several insiders told Reuters they believe it has ballooned. ($1 = 0.8695 euros)
Khaleej Times
2 days ago
- Business
- Khaleej Times
Cash-strapped Vatican unveils fundraising video centred on Pope Leo
The Vatican on Wednesday unveiled a fundraising video centred on newly elected Pope Leo, urging the faithful to support his mission amid a serious financial crisis for the Catholic Church. The slick one-minute video was shown on giant screens in St. Peter's Square to crowds waiting for the pope's weekly audience, and spread on social media and the internet by Vatican news outlets. It starts with footage of the white smoke that announced Leo's election on May 8, followed by his first words as pope, "Peace be with you all", and images of cheering crowds, all accompanied by gentle piano music. The video urges people to donate to Peter's Pence - a papal fund used to support church activities and charity work which, according to latest available records, received 48.4 million euros ($55.66 million) in donations in 2023. The pope's home nation, the United States, accounted for the biggest share, equal to just over 28% of the total, but expenses far outstripped offerings, with the fund disbursing 103 million euros in the year, the Vatican said. "With your donation to Peter's Pence, you offer tangible support as the Holy Father takes his first steps as Pope. Help him proclaim the Gospel to the world and extend a hand to our brothers and sisters in need," the video says. Although the Vatican has not published a full budget report since 2022, the last set of accounts, approved in mid-2024, included an 83-million-euro ($94-million) shortfall, two knowledgeable sources told Reuters. The shortfall in the pension fund was estimated to total around 631 million euros by the Vatican's finance czar in 2022. There has been no official update to this figure, but several insiders told Reuters they believe it has ballooned.
CTV News
2 days ago
- Business
- CTV News
Cash-strapped Vatican unveils fundraising video centred on Pope Leo
Pope Leo XIV sits on the altar in St. Peter's Basilica, Sunday, June 15, 2025, where he celebrates a Mass for the Jubilee of Sports. (AP Photo/Alessandra Tarantino) VATICAN CITY -- The Vatican on Wednesday unveiled a fundraising video centered on newly elected Pope Leo, urging the faithful to support his mission amid a serious financial crisis for the Catholic Church. The slick one-minute video was shown on giant screens in St. Peter's Square to crowds waiting for the pope's weekly audience, and spread on social media and the internet by Vatican news outlets. It starts with footage of the white smoke that announced Leo's election on May 8, followed by his first words as pope, 'Peace be with you all,' and images of cheering crowds, all accompanied by gentle piano music. The video urges people to donate to Peter's Pence - a papal fund used to support church activities and charity work which, according to latest available records, received 48.4 million euros (US$55.66 million) in donations in 2023. The pope's home nation, the United States, accounted for the biggest share, equal to just over 28% of the total, but expenses far outstripped offerings, with the fund disbursing 103 million euros in the year, the Vatican said. 'With your donation to Peter's Pence, you offer tangible support as the Holy Father takes his first steps as Pope. Help him proclaim the Gospel to the world and extend a hand to our brothers and sisters in need,' the video says. Although the Vatican has not published a full budget report since 2022, the last set of accounts, approved in mid-2024, included an 83-million-euro ($94-million) shortfall, two knowledgeable sources told Reuters. The shortfall in the pension fund was estimated to total around 631 million euros by the Vatican's finance czar in 2022. There has been no official update to this figure, but several insiders told Reuters they believe it has ballooned. Reporting by Alvise Armellini and Yara Nardi, editing by Ed Osmond, Reuters
