People who have registered as guarantor on loans to people or businesses that later go bankrupt, can only be chased for the debt within two years, thanks to a Supreme Court judgement last week.
Friðjón Björgvin Gunnarsson, CEO of several Icelandic companies, has been sentenced to two-and-a-half years’ imprisonment for breaking tax law, bookkeeping law, and for money laundering.
KEA investment company has decided to begin the construction of a 150-room hotel at Hafnarstræti 80 in Akureyri, North Iceland.
The German bank Hauck & Aufhäuser was never an actual investor in Búnaðarbankinn bank when the Icelandic State’s 45.8 percent stake in the latter was sold in January of 2003.
The seafood company HB Gandi has announced that it plans to discontinue processing demersal fish in the town of Akranes, West Iceland.
The participation of the German bank Hauck & Aufhäuser in the purchase of a 45.8 percent stake in the Icelandic state’s share of Búnaðarbanki bank in 2003 was only for the sake of appearances.
The price of real estate in Iceland is no longer driven by increased purchasing power, but rather by a lack of housing and the fear that the housing supply will continue to diminish.
Foreign funds and investment bank Goldman Sachs have acquired almost 30 percent of shares in Icelandic bank Arion Bank for ISK 48.8 billion (USD 452 million, EUR 420 million), as announced by Arion Bank and Kaupþing ehf. (the administrator of the defunct Kaupþing’s assets) yesterday evening.
Vodafone has signed a deal to purchase all assets and operations of the Icelandic media company 365, except for the newspaper Fréttablaðið and the magazine Glamour.
Preliminary figures show that gross domestic product in Iceland grew by 7.2 percent in real terms last year.
The Dutch union FNV has pressed charges with the Dutch police against the Icelandic logistics firm Samskip.
Last year’s turnover at WOW Air amounted to ISK 36.7 billion, representing a 111 percent increase from the previous year.
At a ceremony in Stockholm this morning, Restaurant DILL has was awarded a Michelin star, one of the most prestigious marks of distinction given to restaurants.
Selling half of the Icelandic state’s share in the country’s banks in coming years could reduce the state’s debt to 10-15 percent of GDP by 2022.
The arrival of the US wholesale giant Costco in Iceland this spring will have a large impact on wholesalers and domestic producers.
This year, there are plans to form a development company, whose goal it is to plan a harbor for large ships in Finnafjörður, Northeast Iceland.
The number of hotel rooms in Reykjavík is expected to increase by 50 percent in the next two to four years.
If you’re one of those people living in the US who have a craving for SS hot dogs from Iceland, your craving may soon be satisfied.
Three board members of Glitnir Holdco ehf., along with a few Icelandic key employees of the company in Iceland, have already secured a total of ISK 875-1,525 million (USD 7.6 million, EUR 7 million) in bonuses.