The Economic Secretary to the Treasury, Andrea Leadsom, confirmed yesterday that the British government has recovered a further GBP 1.36 billion (ISK 264 billion, USD 2.14 billion, EUR 1.71 billion) from the Landsbanki estate in Iceland, which operated as Icesave in the UK, following its collapse...
U.S. Costco Wholesale, the third-largest retailer in the world, is planning to open a 14,000-square-meter (16,743-square-yard) store at Kauptún in Garðabær outside Reykjavík (where IKEA is based) within a year. The company has already bought the facilities.
Governor of the Central Bank Már Guðmundsson announced that the key interest rate would decrease by 0.5 percent to 5.25 percent this morning while wearing a Christmas sweater as part of a fundraising initiative for Barnaheill – Save the Children Iceland.
LBI hf., the bankrupt estate company of the old Landsbanki, has received permission to pay ISK 400 billion in priority claims from the estate.
Icelandic insurance companies are permitted to compile personal information on people when investigating cases of suspected insurance fraud.
Only two passengers traveled on the bus connecting Ísafjörður with Hólmavík in the West Fjords in the first 27 days of November.
The EFTA Court ruled on Monday that it is not in compliance with the EU directive to base agreements for indexed consumer loans on zero percent inflation. Icelandic courts are to evaluate what effect the false information has had and what measures can be taken in response.
Seven diverse projects by Icelandic designers received grants from the Aurora Design Fund at its 12th annual distribution ceremony on Tuesday, three of which were in fashion design. Fifty entries were made. The jury seeks to select projects which are thought to be constructive for society.
Last year, 704 books were published in Iceland but this year the titles will be 10 percent fewer, or 638. That makes 501 persons per book. The most important time for Icelandic book publishers is coming up, the jólabókaflóð, or ‘Christmas book flood.’