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Business

Unfit Fish Balls Recalled

One of Iceland’s biggest domestic food producers, Ora, has announced it is recalling a batch of its tinned fish balls in curry sauce, as they are not fit for consumption.

Money - Icelandic Króna

Car Magnate’s Missing Millions Found?

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.

Secret Solstice

Who is the Fake Man?

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.

Money - Icelandic Króna

Panama Papers Revelations “Déjà Vu”

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...

Ásbrú, the former U.S. Naval Air Station in Keflavík.

Military Base Blossoms a Decade On

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.

Money

Second Panama Papers Leak Story Released

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.

Glitnir

Bank Execs Plead Innocent

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.

Landsbankinn

Bank Criticized for Shady Assets Sale

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.

Bombardier Q-400

New Bombardier Malfunctions

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.

People hiking

‘Too Much Equality’ Problem

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.

Aluminum smelter in Straumsvík.

Rio Tinto Managers Load Ship with Aluminum

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.

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