Three family members of former Reykjavík city councilor Júlíus Vífill Ingvarsson say that the day after the Panama Papers leak broke in the press, he confessed to the family that his parents’ funds were being stored in his own offshore company.
Preparations are underway for the establishment of a new community bank, Heimilisbankinn (‘The Home Bank’).
Stock prices at NASDAQ OMX Iceland, the Iceland stock exchange, went down considerably today, for the second trading day in a row.
Kristján Örn Sigurðsson has resigned from his job as CEO of the United Pension Fund in Iceland, following his implication in the Panama Papers scandal.
Icelandic media are abuzz today about “the fake foreign man” who was among the biggest debtors of the failed old Icelandic banks before the 2008 crash. The name does not refer to a specific individual; it is actually a collective term for a number of unknown overseas legal entities.
Yesterday’s new revelations on the financial dealings of influential people in Icelandic politics and pension funds are a direct illustration of worrying trading practices covered in the famous 2010 Alþingi research report into the financial crash, according to Associate Professor of Political...
Central Bank of Iceland Director Már Guðmundsson states now is the best time to lift capital controls.
With nearly a decade having passed since the American military left Iceland, there are some 115 companies based on the old base, with 800 staff. Over the next three years, it is hoped that the number of people working in the old high security zone will top 1,200.
Business power couple Ingibjörg Pálmadóttir and her husband Jón Ásgeir Jóhannesson have, for several years, been financing their investments in Iceland and elsewhere in Europe using money from a company registered in Panama.
Lárus Welding, former director of Glitnir Bank, and four other executives from the failed bank, have this morning pleaded not guilty to all charges as their trial begins.
Contrary to popular fears, there were eleven-times more square meters of housing built in Reykjavík last year than hotel space.
Iceland´s FME financial regulator has released a statement which concludes that Landsbankinn’s conduct in selling its 31.2 percent stake in credit card company Borgun could not be considered in line with normal, healthy trading procedures in the financial market.
One of Air Iceland’s recently purchased Bombardier Q-400 aircraft had to be turned around on its way from Reykjavík to Egilsstaðir, the East Fjords, yesterday, when its hydraulic system malfunctioned.
Such is the demand for Icelandic wool, lopi, that the company Ístex now plans to hire more workers to be able to increase production.
The Icelandic authorities’ contract with Vodafone for the rental of a fiber optic cable owned by NATO did not count as illegal state assistance.
A highly unusual situation arose yesterday at insurance company VÍS: the planned election of a new board of directors was cancelled due to Iceland’s controversial gender quota. But in this rare instance, it was because there were not enough men standing for election.
Adam Hotel, which made headlines earlier this year for recommending that guests drink bottled water, sold at the hotel, instead of from the tap, is in the news again.
A jewelry store, which has been operating on Laugavegur, downtown Reykjavík, since 1904, will be replaced by a tourist shop.
The state prosecutor has filed charges against Lárus Welding, former CEO of Glitnir bank, for breach of trust and market manipulation.
A ship carrying three thousand tons of aluminum from Rio Tinto Alcan in Straumsvík will leave harbor this afternoon, headed for the Netherlands, despite the limited strike meant to prevent all shipping of aluminum from the harbor.