Prime Minister of Iceland Sigmundur Davíð Gunnlaugsson has declared that the long-running Icesave dispute with the UK and the Netherlands is now officially over—taking the opportunity to congratulate Icelanders on a complete victory.
At the end of 2014, more than six years after the financial crisis, Icelanders still possessed ISK 31.6 billion (USD 247 million, EUR 219 million) in the British Virgin Islands, and almost solely on the island of Tortola, according to new figures from the Central Bank of Iceland
Icelandic bank Landsbankinn has decided to freeze the design competition for its new headquarters, planned for later this month. The bank says in a statement on its website that the decision was made so that it can consider the various points-of-view that have come forth in the last few weeks....
Sigurður Einarsson and Hreiðar Már Sigurðsson, the former Kaupþing Bank executives now serving prison sentences following the so-called Al Thani case, have formally requested that the case be re-opened.
Lee Buchheit, a lawyer given the label ‘Crusader for Financially Stricken Countries’ by the Financial Times, is well-known in Iceland.
It would be beneficial to have at least one trusted foreign owner of an Icelandic bank, according to a prominent economics professor. Existing laws on ownership of financial companies should ensure that foreign ownership proved positive, whereas it is not a good idea for the pension funds to...
Deutsche Bank is believed to have put both its Asia heads of corporate finance on leave—though apparently for unrelated reasons.
The 22-day hearing of nine former Kaupþing Bank managers, accused of widespread market manipulation at the former bank, has now reached half way—with yesterday its 11th day.
A report, commissioned by Prime Minister Sigmundur Davíð Gunnlaugsson, outlining the need for a fundamental reform of Iceland’s monetary system, was published today by Progressive Party MP and chair of the Alþingi parliament’s Committee for Economic Affairs and Trade Frosti Sigurjónsson.
Landsbanki bank has taken over all assets and liabilities of Sparisjóður Vestmannaeyja, the local savings bank in Vestmannaeyjar. The Icelandic Financial Supervisory Authority authorized the merger yesterday.
The combined profits of the three large commercial banks in Iceland, Landsbanki, Arion Banki (earlier Kaupþing) and Íslandsbanki (earlier Glitnir), was ISK 80 billion (USD 600 million, EUR 530 million) last year. Since the banking collapse in 2008, they’ve earned ISK 370 billion (USD 2.8 billion...