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Business

Costco.

Fearing the Giant

The arrival of the US wholesale giant Costco in Iceland this spring will have a large impact on wholesalers and domestic producers.

Money

Glitnir Directors Receive Major Bonuses

Three board members of Glitnir Holdco ehf., along with a few Icelandic key employees of the company in Iceland, have already secured a total of ISK 875-1,525 million (USD 7.6 million, EUR 7 million) in bonuses.

Urriðavatn Geo Spa.

Geo Spa to Open in East Iceland

A thermal beach and geo spa is set to open by Urriðavatn lake near Egilsstaðir in East Iceland in 2019. Warm water from geothermal boreholes in the vicinity will be used to create bathing facilities by the lake. The project will be launched with the signing of a collaboration agreement today....

Jökulsárlón

Iceland May Lose Out on Glacial Lagoon

The Icelandic state announced on Monday its intention to acquire the private land Fell in Suðursveit, to which part of the famous glacial lagoon Jökulsárlón in Southeast Iceland belongs. However, the acquisition may be up in the air because it appears that the deadline for the state to use its...

Flying High

Last year, WOW Air, flew close to 1.7 million passengers, up 130 percent from previous year.

Þorsteinn B. Friðriksson, CEO of Plain Vanilla.

QuizUp Sold to Glu Mobile for USD 7.5 Million

Icelandic gaming company Plain Vanilla, which shut down its operations in August, has sold its hit game QuizUp to US gaming company Glu Mobile for ISK 7.5 million (ISK 850 million, EUR 7.2 million). The game will henceforth be operated from San Francisco.

Christmas in Reykjavík.

Travel Tips for Tourists at Christmas

At this time of year, most Icelanders are busy enjoying the holidays with their friends and families, inviting each other to dinner and snuggling up with a blanket on the couch, watching a Christmas classic. Meanwhile, tourists wander the empty streets looking for things to do.

Brúnegg hens.

Egg Farm Fined for Poor Air Quality

The Icelandic Food and Veterinary Authority (MAST) has prohibited the egg producer Brúnegg from bringing new hens into their farm in Mosfellsbær, near Reykjavík.

Grímsfjall

Cold Reception for Iceland in Iceland

Representatives of Icelandic authorities, SA – Business Iceland and Promote Iceland met with their counterparts from Iceland Foods in Iceland Friday to discuss the registration of the trademark Iceland in the European Union.

Firefighters

Company Punished after Seventh Fire

The Reykjavík Public Health Authority has temporarily halted the operations of the recycling company Hringrás in Reykjavík, after a fire erupted there on Tuesday night.

Landsbankinn

Landsbankinn CEO Steps Down

The board of directors of Landsbankinn bank and CEO Steinþór Pálsson have reached an agreement that he leave his post at the bank.

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