Pope Francis approved a secret million-euro operation to free a Colombian nun who was held captive for more than four years by an Islamist extremists in Mali before she was released in 2021, a cardinal told a Vatican court on Thursday.
Cardinal Angelo Becciu, the only cardinal among 10 accused in a corruption trial that began last July, also said that he had no improper relations with an Italian woman who was an intermediary in the operation to free the nun.
Mr Becciu’s evidence could pose serious security implications for the Vatican and the Catholic Church, since he provided evidence that the Pope was apparently willing to pay a ransom to the militants to free the nun.
Sister Gloria Cecilia Narvaez was kidnapped by the Macina Liberation Front, an Al Qaeda-linked group in Mali, in February 2017.
Mr Becciu said that Cecilia Marogna, who is also an accused in the case, put him in touch with a London-based risk and intelligence company in 2018 to work out a way to win her freedom.
The cardinal said that he had told the Pope that the operation, including the establishment of a “contact network” and an eventual ransom, would cost at most about a million euros.
“He approved. I must say that every phase of that operation was approved by the Holy Father,” Mr Becciu said.
The former deputy secretary of state is accused of embezzlement, abuse of office and inducing a witness to perjury. He denies all charges.
Mr Becciu said a special account for the operation was set up in the Vatican's Secretariat of State and that payments were made to accounts indicated by Marogna.
The cardinal added that the intelligence company established a direct contact with the kidnappers but did not say if a ransom was paid.
He said that the arrangement was kept secret even from the Vatican's security chief at the time because any leak would have risked international criticism and “endangered the lives and safety of other missionaries”.
Ms Marogna has been charged with embezzlement while Mr Becciu is charged with abetting the embezzlement. She also denies any wrongdoing.
The indictment issued in July said she had received about 575,000 euros in 2018-2019 from the Secretariat of State. Prosecutors accused her in their indictment handed down in July of using much of it for “personal benefit”, including the purchase of luxury goods — a charge she denies.
The Pope fired Mr Becciu from another Vatican post in 2020, accusing him of nepotism in favour of his brothers, something the cardinal denies.
Two months ago, the Pope lifted Mr Becciu's oath of “pontifical secrecy” so that he could answer questions relating to Ms Marogna and the kidnapping of the nun.
Mr Becciu took issue with the Italian media, which has called Ms Marogna “the cardinal's lady”.
He told the court that his relationship with Ms Marogna had been “distorted, with offensive insinuations, of an infamous nature, harmful to my priestly dignity”.
The trial revolves mostly around the purchase by the Vatican's Secretariat of State of a building in a posh area of London as an investment of about 350 million euros starting in 2014.
But the deal went bad and the Vatican lost 217 million euros. Vatican prosecutors have charged two Italian brokers with extortion.
During Thursday's seven-hour hearing, Vatican prosecutor Alessandro Diddi grilled Mr Becciu on other aspects of the deal, the cardinal's institutional relations with other officials and which banks the Vatican used.
Others accused in the trial include former Vatican officials and employees who have been charged with embezzlement and various other financial crimes connected with the real estate deal. All have denied any wrongdoing.
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Company%20profile
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La Mer lowdown
La Mer beach is open from 10am until midnight, daily, and is located in Jumeirah 1, well after Kite Beach. Some restaurants, like Cupagahwa, are open from 8am for breakfast; most others start at noon. At the time of writing, we noticed that signs for Vicolo, an Italian eatery, and Kaftan, a Turkish restaurant, indicated that these two restaurants will be open soon, most likely this month. Parking is available, as well as a Dh100 all-day valet option or a Dh50 valet service if you’re just stopping by for a few hours.
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
Trump v Khan
2016: Feud begins after Khan criticised Trump’s proposed Muslim travel ban to US
2017: Trump criticises Khan’s ‘no reason to be alarmed’ response to London Bridge terror attacks
2019: Trump calls Khan a “stone cold loser” before first state visit
2019: Trump tweets about “Khan’s Londonistan”, calling him “a national disgrace”
2022: Khan’s office attributes rise in Islamophobic abuse against the major to hostility stoked during Trump’s presidency
July 2025 During a golfing trip to Scotland, Trump calls Khan “a nasty person”
Sept 2025 Trump blames Khan for London’s “stabbings and the dirt and the filth”.
Dec 2025 Trump suggests migrants got Khan elected, calls him a “horrible, vicious, disgusting mayor”
Under 19 Cricket World Cup, Asia Qualifier
Fixtures
Friday, April 12, Malaysia v UAE
Saturday, April 13, UAE v Nepal
Monday, April 15, UAE v Kuwait
Tuesday, April 16, UAE v Singapore
Thursday, April 18, UAE v Oman
UAE squad
Aryan Lakra (captain), Aaron Benjamin, Akasha Mohammed, Alishan Sharafu, Anand Kumar, Ansh Tandon, Ashwanth Valthapa, Karthik Meiyappan, Mohammed Faraazuddin, Rishab Mukherjee, Niel Lobo, Osama Hassan, Vritya Aravind, Wasi Shah
The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Global state-owned investor ranking by size
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United States
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China
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UAE
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Japan
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Norway
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Canada
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Singapore
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Australia
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Saudi Arabia
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South Korea
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