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1. Bank of Cyprus to auction cars: See models and prices

The Bank of Cyprus has announced an upcoming auction for a selection of cars. Details of the models and prices are outlined in the tables below....

2. Phone ringing, debt ignored: Cyprus faces loan repayment hurdles

Despite efforts to reduce Non-Performing Loans (NPLs) in Cyprus, the lingering burden continues to weigh heavily on the country's economy and society....

3. Foreclosure fate tied to 'Mortgage-to-Rent' scheme

Cyprus' parliament has given the green light to a groundbreaking law aimed at empowering homeowners and offering relief in the face of mortgage challenges....

4. Critical battle looms as Parliament debates foreclosure legislation

Background consultations are in progress to prepare amendments to the legislative package on divestments, set for submission to the Parliament Plenary on Friday for a vote....

5. Rare 96-year-old Macallan whisky to fetch Over $1.4m at Sotheby's auction

A bottle of what Sotheby’s is calling “the most sought-after Scotch whisky” is set to go up for auction next month, with an estimated price of up to 1.2 million pounds ($1.4 million), the auction house said Thursday....

6. Tesla Model X resurrects in Ukraine after totaling in the U.S.

A Tesla Model X totaled in the U.S. late last year suddenly came back online and started sending notifications to the phone of its former owner, CNBC Executive Editor Jay Yarow, months later....

7. Numerous foreclosure sales expected in 2023 and 2024

The COVID-19 pandemic and the subsequent suspension of divestments since 2020 have led to the creation of a considerable volume of properties for disposal that banks and credit purchase companies have on their balance sheets....

8. FinMin stresses importance of stable legislation for out-of-court auctions

The Finance Ministry has stressed the importance of having stable legislation regulating out-of-court auctions, in tandem with an effective insolvency framework in order to achieve a reduction of bad loans....

9. A large number of foreclosure notices to be sent tomorrow

Today, Tuesday, January 31, 2023, marks the end of the most recent three-month suspension of divestments imposed by a resolution of the House of Representatives. ...

10. 32nd Auction Sale by Psatharis

Once again, the Psatharis Auction House has collected a rich group of artworks that will be presented at the Kleopatra Hotel from November 28th to 30th as part of the 32nd auction. The collection includes over 130 works by Cypriot and Greek artists and a remarkable selection of maps of Cyprus....

11. Finance Minister calls for the repeal of foreclosure suspension

The Ministry of Finance proposes delaying the law on divestiture suspension. ...

12. Looking for a strategy to suspend foreclosure sales

To protect vulnerable borrowers and stop the economy from being impacted by decisions that could harm its integrity, a strategy for the new potential three-month suspension of foreclosure sales is being sought. ...

13. Would you pay $40,000 for a 2007 iPhone? Someone did.

When the first-generation iPhone was released in 2007, it cost $599. However, after 15 years, someone paid nearly $40,000 for the same phone....

14. The future of the banking sector is digital, green and social

The future of the banking sector is digital, green and social, said the participants at the 3rd online FMW Conference, titled "Banking System: New Challenges and Opportunities". The Conference also highlighted the contrast between trying to tame inflation by raising interest rates and supporting vulnerable groups to avoid social unrest....

15. Bank of Cyprus used car auction on the 7th of June

The Bank of Cyprus is once again holding an auction for used cars. See the list below with prices and click on the links for additional information....

16. The Med gets first offshore wind farm as Italy vows energy revolution

The Mediterranean's first offshore wind farm is rising from the shallows off Italy, its turbines a symbol of hope for a Europe suffering an energy crisis exacerbated by war....

17. The 30th Auction of Greek and Cypriot Artworks

18. Thousands of property assets in Greece are up for auction

The Greek property market is about to welcome a host of new offerings as the companies that manage loans secured on properties either for banks or the funds that have acquired them are resuming online auctions in large numbers....

19. IMF: Withdrawal of support measures should be gradual

An International Monetary Fund (IMF) mission met virtually with the Cypriot authorities from March 8–29, 2021 to discuss recent economic developments and policy priorities on the island. In an interview with Kathimerini Cyprus, IMF mission chief for Cyprus, Anita Tuladhar, said the longer the recovery period in sectors related to tourism, the greater the chance that permanent scars will remain in the economy of Cyprus. Tuladhar also noted the importance of state-sponsored programs to support the economy....

20. Property valuations and uncertainty clauses

Property appraisers in this country have had to deal with unprecedented events in the last seven to eight years that forced them to make use of the so-called 'uncertainty clauses' in their real estate estimates...

21. Bomb goes off ahead of 5G auction

An explosion took place outside a CYTA branch in Limassol with media speculating the attack could be linked to an upcoming announcement this week over 5G contracts...

22. Coronavirus derails southern Europe's clean-up from the last crisis

This year was meant to mark a turning point for Greek and Italian banks as they finally laid the ghosts of the financial crisis to rest. Then the coronavirus struck....

23. Renewable power is only part of the solution to meet net-zero targets

24. Coast guard seizes catch of the day

Another boat has been caught fishing without a licence off the coast of Cyprus, as local coast guard officers increase efforts to target illegal activities beyond territorial waters...

25. Cyprus 'one of the success stories of ESM'

26. Cyprus to issue 5 and 30 year bonds

27. IMF warns of 'increasing headwinds to sustained growth'

28. Shell companies ''This is over, its finished''

29. Greek banks to chase borrowers who refused to open their accounts

Banks have firmly focused their attention on debtors who have resorted to the provisions of the so-called Katseli law – named after former economy minister Louka Katseli – for protection now that their bank account secrecy has been lifted....

30. Anti-foreclosure protesters scuffle with police in Athens

Protesters opposing property auctions outside the office of a notary in the upscale Athens neighborhood of Kolonaki on Wednesday clashed with police trying to move them along....