Mad Crusader, a Cyprus-based game intellectual property (IP) incubator, this week announced that it is accepting enrollment applications for the second batch of its game IP Incubation Programme, set to begin on October 21, 2024.

According to the announcement, this 8-month remote online programme is designed for aspiring entertainment franchise directors, taking them from their initial concept to a comprehensive business documentation package for a game with franchise potential.

The company noted that the programme’s first batch, which ran from October 2023 to May 2024, successfully graduated 10 participants.

It added that these graduates developed original IP concepts spanning several genres, including stealth, action RPG, FPS in fantasy, sci-fi, as well as cyberpunk.

Mad Crusader is backed by $200,000 of the founders’ own investments and will invest $30 million in 4 rounds within 2 years.

This funding, the company explained, will further develop graduates’ concepts into commercial products with franchise potential.

The assets of investment organisations in Cyprus increased by 0.9 per cent during the second quarter of 2024, according to a report released on Friday by the Central Bank of Cyprus (CBC).

The central bank’s report showed that the total assets of investment organisations reached €6.85 billion by June 2024, up from €6.79 billion in March 2024.

Breaking down the figures, €784.7 million were held in deposits and loans, €596.8 million in debt securities, as well as €4.94 billion in shares and related securities.

In addition, €362.1 million were found in money market instruments, while €160.6 million were classed as being in other assets.

Finally, the CBC reported that the number of investment organisations also saw a slight increase, rising from 328 in March 2024 to 330 by June 2024.

Chairman of the Cyprus Energy Regulatory Authority (Cera) Andreas Poullikas has handed in his resignation, which reportedly has nothing to do with major energy issues still pending, the finalising of which he intends to oversee before leaving.

Daily Phileleftheros reported that Poullikas informed the president of the Republic of his intentions a while ago and also handed in his resignation in writing, ending nine years of service.

The resignation will come into effect on November 1.

Poullikas and two other Cera senior officers – deputy chairman Alkis Philippou and member Akis Hadjigeorgiou – are responsible for the finalisation of the regulatory framework for the connection of Cyprus and Crete through the Interconnector, with announcements placed towards the end of the third week of August, according to Phileleftheros.

Hellenic Bank this week announced the launch of a new initiative designed to support first-time homebuyers in Cyprus.

The “First-time Homeowners” scheme offers reduced interest rates for the initial three or five years of a mortgage, making it more accessible for those purchasing their first property during these challenging times.

The new scheme is part of the bank’s broader “My Home” ecosystem, which includes the “My Home Rewards” programme.

This rewards scheme provides cash back of up to €2,000 for home furnishings and equipment purchased from participating retailers.

Moreover, the initiative aims to enhance the home-buying experience by offering tangible financial benefits rather than reward points.

The Cyprus Stock Exchange (CSE) ended Friday, August 16 with profits.

The general Cyprus Stock Market Index was at 170.07 points at 13:07 during the day, reflecting an increase of 2.52 per cent over the previous day of trading.

The FTSE / CySE 20 Index was at 103.55 points, representing a rise of 2.55 per cent.

The total value of transactions came up to €438,636, until the aforementioned time during trading.

In terms of the sub-indexes, the main, investment firm and hotel indexes rose by 3.28 per cent, 4.33 per cent and 1.72 per cent respectively. The alternative index fell by 0.13 per cent.

The biggest investment interest was attracted by Vassiliko Cement Works Public Company Ltd (-0.57 per cent), the Bank of Cyprus (+2.2 per cent), Demetra (+4.42 per cent), Hellenic Bank (+4.73 per cent), and the Cyprus Cement Company (-0.63 per cent).