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Reuters
2 days ago
- Business
- Reuters
Vatican reports 35.5% increase in profit from holdings for 2024
VATICAN CITY, July 28 (Reuters) - The Vatican reported on Monday a 62.2-million-euro ($72.5 million) profit from its financial and real estate holdings last year, up 35.5% from 2023, in a boon to Pope Leo's efforts to close a budget shortfall. The Vatican's central asset management agency, however, also said in an annual report that it had reassessed the total value of its holdings down to 2.6 billion euros from 2.74 billion euros, due to a reassessment of its real estate holdings. The Administration of the Patrimony of the Holy See (APSA) said the reevaluation of its total holdings had taken several years and was partly based on fair value estimates from 2023. Of the total 62.2 million euro profit reported for 2024, 38.1 million euros came through investments, said the statement. The report said the agency had passed on 46.09 million euros for use in the Vatican's general budget, but would retain 16.1 million euros. Leo, elected in May to replace the late Pope Francis, is facing both a Vatican budget shortfall and growing liabilities for the Vatican's pension fund. Although the Vatican hasn't published a full budget report since 2022, accounts approved in mid-2024 included an 83-million-euro shortfall, two knowledgeable sources told Reuters. The shortfall in the pension fund was estimated to total some 631 million euros by the Vatican's finance czar in 2022. There has been no official update to this figure, but several insiders have told Reuters they believe it has ballooned. The Vatican maintains more than 5,400 real estate holdings worldwide, according to the new report. 4,234 of the holdings are in Italy, with 92% of those in the area around Rome, it said. Another 1,200 Vatican real estate holdings are abroad, including in cities such as Paris, Geneva, Lausanne, and London, the report stated. In 2024, the Vatican department reported a profit of 45.9 million euros for 2023. The new report said the Vatican invests its portfolio "with the aim of diversifying investments and spreading out risk." ($1 = 0.8577 euros)
Reuters
4 days ago
- Politics
- Reuters
Pope Leo discusses war in Ukraine with Russian Orthodox Church official
VATICAN CITY, July 26 (Reuters) - Pope Leo discussed the war in Ukraine on Saturday with Metropolitan Anthony, a senior cleric in the Russian Orthodox Church, in a possible effort to ease ties between the churches strained by Russia's invasion. Leo saw Anthony, chairman of the department of external church relations, and five other high-profile clerics during an audience in the morning, the Vatican said. "During the conversation, numerous issues were raised concerning the state of Orthodox-Catholic dialogue, as well as the ongoing conflicts in the world, including in Ukraine and the Middle East," the Russian Orthodox Church said in a statement. Since assuming the papacy in May, Leo has repeatedly appealed for peace in global conflicts and this month told visiting Ukrainian President Volodymyr Zelenskiy that the Vatican was willing to host Russia-Ukraine peace talks. Russian officials, however, have said they do not view the Vatican as a serious venue for talks because it is surrounded by NATO member Italy which has supported Ukraine. The head of Russia's Orthodox Church, Patriarch Kirill, has been an enthusiastic backer of the invasion of Ukraine. The Russian church statement said that Kirill's congratulations were conveyed to Leo for his election as pope. "Pope Leo XIV expressed his gratitude to his holiness patriarch Kirill for his good wishes and noted the importance of developing relations with the Russian Orthodox Church," it added.
Arab News
4 days ago
- Politics
- Arab News
Pope Leo discusses war in Ukraine with Russian Orthodox Church official
Since assuming the papacy in May, Leo has repeatedly appealed for peace in global conflictsRussian officials, however, have said they do not view the Vatican as a serious venue for talksVATICAN CITY: Pope Leo discussed the war in Ukraine on Saturday with Metropolitan Anthony, a senior cleric in the Russian Orthodox Church, in a possible effort to ease ties between the churches strained by Russia's saw Anthony, chairman of the department of external church relations, and five other high-profile clerics during an audience in the morning, the Vatican said.'During the conversation, numerous issues were raised concerning the state of Orthodox-Catholic dialogue, as well as the ongoing conflicts in the world, including in Ukraine and the Middle East,' the Russian Orthodox Church said in a assuming the papacy in May, Leo has repeatedly appealed for peace in global conflicts and this month told visiting Ukrainian President Volodymyr Zelensky that the Vatican was willing to host Russia-Ukraine peace officials, however, have said they do not view the Vatican as a serious venue for talks because it is surrounded by NATO member Italy which has supported head of Russia's Orthodox Church, Patriarch Kirill, has been an enthusiastic backer of the invasion of Russian church statement said that Kirill's congratulations were conveyed to Leo for his election as pope.'Pope Leo XIV expressed his gratitude to his holiness patriarch Kirill for his good wishes and noted the importance of developing relations with the Russian Orthodox Church,' it added.
LBCI
4 days ago
- Politics
- LBCI
Pope Leo meets Russian Orthodox Church official in Vatican
Pope Leo met on Saturday with Metropolitan Anthony, a senior cleric in the Russian Orthodox Church, in a possible effort to ease ties between the churches strained by the invasion of Ukraine. The pontiff saw Anthony, chairman of the department of external church relations, and five other high-profile clerics during an audience in the morning, the Vatican said in a statement without further elaborating. Since assuming the papacy in May, Leo has repeatedly appealed for peace in global conflicts and this month told visiting Ukrainian President Volodymyr Zelenskiy that the Vatican was willing to host Russia-Ukraine peace talks. Russian officials, however, have said they do not view the Vatican as a serious venue for talks because it is surrounded by NATO member Italy which has supported Ukraine. In his first call with President Vladimir Putin, at the beginning of June, Pope Leo urged Russia to take steps towards ending the conflict. The head of Russia's Orthodox Church, Patriarch Kirill, has been an enthusiastic backer of the invasion of Ukraine. Reuters
Reuters
4 days ago
- Politics
- Reuters
Pope Leo meets Russian Orthodox Church official in Vatican
VATICAN CITY, July 26 (Reuters) - Pope Leo met on Saturday with Metropolitan Anthony, a senior cleric in the Russian Orthodox Church, in a possible effort to ease ties between the churches strained by the invasion of Ukraine. The pontiff saw Anthony, chairman of the department of external church relations, and five other high-profile clerics during an audience in the morning, the Vatican said in a statement without further elaborating. Since assuming the papacy in May, Leo has repeatedly appealed for peace in global conflicts and this month told visiting Ukrainian President Volodymyr Zelenskiy that the Vatican was willing to host Russia-Ukraine peace talks. Russian officials, however, have said they do not view the Vatican as a serious venue for talks because it is surrounded by NATO member Italy which has supported Ukraine. In his first call with President Vladimir Putin, at the beginning of June, Pope Leo urged Russia to take steps towards ending the conflict. The head of Russia's Orthodox Church, Patriarch Kirill, has been an enthusiastic backer of the invasion of Ukraine.
