Six hundred new hotel rooms need to be built in Reykjavík each year for the next six years, doubling the capacity from 4,000 hotel rooms to 8,100, to meet the forecasted demand.
Inflation in Iceland has run at an average of nearly 16 percent per year since it first started being measured.
California police are trying to get hold of an Icelander accused of multi-million dollar fraud against ordinary citizens.
Germany-based company EAB New Energy Europe has expressed interest in cooperating with Norðurþing municipality in Northeast Iceland on establishing a wind farm in the vicinity of Húsavík, as discussed in a meeting last week.
Pharmaceutical company Actavis, which is headquartered in Iceland, has acquired U.S. pharmaceutical company Allergan for USD 70.5 billion (ISK 10,000 billion, EUR 66.4 billion). The acquisition was announced in November but formally went through yesterday.
The International Monetary Fund says Iceland needs to work to maintain financial stability during the removal of capital controls and to ensure inflation remains stable.
A new Icelandic documentary Íslenska krónan, features the Icelandic currency, its history current position and future prospects. Directed by Garðar Stefánsson and produced by Atli Bollason, it will be screened at Bíó Paradís cinema in Reykjavík starting this Sunday.
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...