Business

Price of Food in Iceland Increases

Changes to the value added tax (VAT) took effect yesterday, resulting in a higher price of food products, while the price of clothing, beauty products, medicine, alcohol, tobacco, furniture, phones, computers, cars and jewelries, among other products, will drop.

Grímsstaðir Still for Sale in EEA

Jóhannes Haukur Hauksson, one of the owners of the remote farm Grímsstaðir á Fjöllum, Northeast Iceland, says the land is still on the market after it was put up for sale in the European Economic Area (EEA).

Holuhraun Eruption Repels Tourists from North Iceland

The volcanic eruption in Holuhraun has had a harmful effect on tourism in North Iceland; the number of foreign tourists in the region has dropped significantly in the past months. Managing director of the North Iceland Marketing Office Arnheiður Jóhannsdóttir calls for a marketing initiative.

Róbert Guðfinnsson - Businessperson of the Year

Róbert Guðfinnsson was named Business of the Year by Frjáls verslun (‘Free Enterprise’), Iceland Review ’s sister publication. The choice is a bit unusual. Róbert’s investments in Siglufjörður have the flair of the shared value policy presented at Harvard University several years ago.

Inflation below 1 Percent in Iceland

The average 12-month inflation in Iceland measures 0.8 percent. It’s the first time since 1998 that inflation drops below 1 percent. In the past three months, Iceland has seen a deflation by 0.3 percent, according to the latest update from Statistics Iceland.

Delta Cancels Iceland-Minneapolis Flights

U.S. airline Delta has canceled plans for scheduled flights between Keflavík International Airport and Minneapolis next summer as the company was unable to obtain service slots at the airport. In summer 2014, Delta offered daily flights between Iceland and New York.

Britain Recovers 85 Percent of Icesave Claims

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...

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