A new report claims that Iceland’s capital controls, imposed at the start of the financial crisis, should be removed quickly rather than slowly.
Cases have come to light where meat intended for fresh sale in Europe is being frozen right before its expiry date and exported to Iceland.
MP Bank has taken the unusual step of offering to help its customers find other banks if they choose to take their business elsewhere.
The verdicts in the so-called Arum and Imon cases were announced at Reykjavík District Court yesterday. All defendants in the former case were acquitted and all but one in the second.
Sales of new cars in Iceland in May were 51 percent higher than the same month last year, ruv.is reports. As a result, Iceland’s car fleet is getting younger.
The food item with the biggest difference in price between supermarkets surveyed by the Icelandic Federation of Labour (ASÍ) was an avocado. ASÍ checked the price of 105 grocery items at different supermarkets and found that the price of avocados differed by up to 138 percent.
U.S. company Silicor Materials, a leading manufacturer of high-quality solar silicon, plans to sign a contract with Faxaflóahafnir Associated Icelandic Ports on the building of a new silicon plant at Grundartangi in Hvalfjörður today.
Icelandic company Eykon Energy along with CNOOC, China National Offshore Oil Corporation, plans to begin oil exploration in the so-called ‘Dragon Zone,’ which lies in Icelandic waters, this summer.
Reykjavík and the Blue Lagoon appear in a new ad for Apple iPad Air. The ad shows travel writer Chérie King using an iPad during her travels to, among other places, Iceland, Vietnam and Morocco.
Reykjavík Geothermal and the African Union will sign a USD 8 million contract today allowing Reykjavík Geothermal to start drilling in the Ethiopian Rift Valley as part of two 500 MW power plants under construction.
The marketing organization Iceland Naturally will receive USD 1 million (ISK 339 million, EUR 735,000) per year until the end of 2016 to promote Iceland and make Icelandic products and services more visible on the North American market.
A free trade agreement between Iceland and China will take effect on July 1 after the process of implementing the agreement into law was completed.
Prime Minister of Iceland Sigmundur Davíð Gunnlaugsson has reaffirmed that Iceland could adopt another currency, the Canadian or U.S. dollar.
The biggest media company in Iceland, 365 miðlar, has signed a contract with Condé Nast to produce an Icelandic version of Glamour magazine.
The government’s household debt relief plan was passed by parliament on Friday and the web portal leidretting.is was opened for applications yesterday.
Icelandair flights are running according to schedule today a day after the government passed a law making planned strikes by the airline’s pilots illegal.
Negotiations between pilots and Icelandair on a new collective bargaining agreement were broken off at around midday today. A new meeting has not yet been scheduled ahead of a planned strike on Friday from 6 am to 6 pm.
Icelandic hamburger restaurant Hamborgarabúlla Tómasar opened Tommi’s Burger Joint in Berlin on Friday. The restaurant is proving so popular that the hamburgers sold out two hours before closing time on its opening day.
Icelandair has announced that the strike by the airline’s pilots could cost the company at least ISK 1.5-1.7 billion (USD 13.3-15 million, EUR 9.6 million-11 million). Other businesses are also reporting losses as a result of the strike.
Clive Stacey, managing director of British travel agency Discover the World, urges Icelandair pilots, who have been on strike, to reduce their demands for a pay rise.
A total of 10,500 people out of 181,900 in the labor force in Iceland were unemployed and in active job search during the first three months of this year.