Business

Credit cards

Creditinfo HQ to Move Abroad

By Zoë Robert
Icelandic credit information company Creditinfo will move its headquarters abroad. The company employs around 300 people in 17 countries and reported profits of around ISK 500 million last year, according to news website kjarninn.is .
Már Guðmundsson

Central Bank: Special Measures Needed to Minimize Financial Risk

By Marín Rós Tumadóttir
According to head of the Central Bank of Iceland, Már Guðmundsson, it is impossible to loosen the financial restrictions in place in Iceland without jeopardizing its economical and financial stability. The statement was made in the foreword of a recent publication of the Central Bank.
Reykjavík houses

Forty-Seven Percent Unhappy with Debt Cancelation Bill

By Zoë Robert
According to a new poll carried out by MMR, 47.3 percent of the Icelandic population is dissatisfied with the government’s draft bill for the reduction of household debt.
Tourists in Iceland in winter

Black Labor on Rise in Tourism Industry

By Zoë Robert
Unreported economic activity seems to be on the rise in Iceland’s tourism industry, according to the Confederation of Icelandic Employers (SA). SA found that tax revenue from the tourism industry is not in line with the increase in tourists to Iceland.
Money - Icelandic Króna

Economist: Icelandic Króna “Only Benefits Politicians”

By Marín Rós Tumadóttir
“We all know that the Icelandic króna is not to the benefit of the Icelandic population. It actually benefits politicians and public officials. They can maintain central control of the system,” said Heiðar Már Guðjónsson, economist and head of the board of directors of Vodafone, in an interview...
Fishing boats

Fish Company’s Move Sparks Strong Reaction

By Marín Rós Tumadóttir
The introduction of the quota system in Icelandic fisheries in the 1980s has resulted in consolidation in the fishing industry. Today the ten largest companies hold over 50 percent of the quota.
Google logo

BREAKING: Google Signs Deal with Iceland

By Páll Stefánsson
Google, the third most valuable company in the U.S., is heading to Iceland. The company’s CEO met with President of Iceland Ólafur Ragnar Grímsson a short time ago to sign an agreement for the relocation of the company’s headquarters to Northeast Iceland.

Russians Biggest Spenders in Iceland

By Páll Stefánsson
Russian tourists to Iceland spend more money than tourists from any other country. The average Russian tourist visiting Iceland spends 250 percent more than the second-placed Norwegian tourist, according to a new report from Landsbanki. The report was prepared for the bank’s conference about the...
Bjarni Benediktsson and Sigmundur Davíð Gunnlaugsson

Homeowners Can Apply for Debt Cancellation in May

By Zoë Robert
The government announced that it hopes that it will be able to open a web portal for applications for debt cancellation as of May 15. Finance Minister Bjarni Benediktsson announced the news on RÚV yesterday.
Money - Icelandic Króna

Auroracoin Airdrop in Iceland Tonight

By Zoë Robert
Over 10 million auroracoins—Iceland’s new national e-currency—will be made available to citizens of Iceland in a so-called Airdrop at midnight tonight. Each citizen’s share of auroracoin is currently worth around USD 380.

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