Pope Francis arrived in the Philippines, home to an estimated 80m Catholics, to be greeted by huge crowds. On his flight from Sri Lanka, the pope spoke of last week’s attacks in Paris, telling journalists that “every religion has its dignity” and that “one cannot insult other people’s faith.”
He said there were limits to the freedom of expression.
America’s ban on Cuban cigars will in effect end today, when new rules on trade and travel between the two countries come into force after last month’s re-establishment of diplomatic relations. Henceforth American visitors will be allowed to take up to $100-worth of Cuban tobacco or alcohol home with them.
The Swiss franc leapt after the Swiss National Bank unexpectedly abolished its “minimum exchange rate” of SFr1.20 to the euro in response to the recent rise in the dollar and euro weakness. On volatile markets, the franc jumped to SFr0.86 and this morning was trading close to par. The SNB also cut its short-term interest rate from -0.25% to -0.75%.