You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

World

  • Russian FM: Russia still to meet with Ukraine
    Foreign Minister Sergey Lavrov says Russia is still planning to meet with Ukrainian officials at an international conference in Geneva on Thursday.
  • Sub makes 2nd dive to search for Malaysian plane
    As a robotic submarine dove into the ocean to look for lost Flight 370, angry Chinese relatives stormed out of a teleconference meeting Wednesday to protest the Malaysian government for not addressing them in person.
  • Official: Iran will not discuss missile program
    Tehran will not discuss its ballistic missiles as part of ongoing talks with world powers on a final agreement to curb the Iranian nuclear program, the country’s defense minister said Wednesday.
Advertisement

Vatican bank report takes step toward transparency

VATICAN CITY – The Vatican has taken another step in its efforts to be more financially transparent by publishing a first-ever annual report for the secretive Vatican bank. It was published as Italian prosecutors investigate alleged money-laundering there, a Vatican monsignor remains in detention and the pope probes the problems that have brought such scandal to the institution.

According to the report Tuesday, earnings at the Institute for Religious Works rose more than four-fold in 2012 to $116.95 million as net trading income rebounded from a loss in 2011.

The picture may not be so rosy for 2013, with rising interest rates cutting profits and millions earmarked for the IOR’s transparency process, which has involved hiring outside experts to revamp its procedures, review its client base and remake its image.

Advertisement