This June, the nominal wage index rose 1 percent from the previous month and 7.3 percent compared with the same time the previous year.
Business
Half a Billion Recovered due to Panama Papers
The Directorate of Internal Revenue has demanded almost half a billion krónur [USD 4.9 million, EUR 4.2 million] in outstanding taxes from 16 individuals, based on information in the Panama Papers.
Sharp Growth in Tourism Turnover, Decline in Fisheries
Tourism turnover rose sharply in March and April this year, compared with the same period last year.
Wave of Cancellations Worries Tourism Industry
The considerable strengthening of the Icelandic Krona over the past year has begun to have a tangible impact on the tourism industry.
Icelandic Scientist Wins Innovation Award
Sandra Mjöll Jónsdóttir, co-founder of the biotech company Platome, was awarded the highest honor at a conference hosted last week by the Global Women Innovators and Inventors Network and the European Union Women Inventors & Innovators Network (GWIIN/EUWIIN).
Food Prices Drop, Thanks to Costco Effect
Inflation figures for June reflect the impact of the opening of Costco warehouse club on the retail industry in Iceland, according to Arion Bank’s research division.
Icelandic Computer Game Teaches Pitch
Mussila Planets, an Icelandic computer game that aims to teach music skills to children, went on the market yesterday.
Icelandair Laying Off 115 Pilots
The head of the Icelandic Airline Pilots’ Association states that Icelandair's decision to lay off 115 pilots this fall does not bode well for wage negotiations.
Króna Will Likely Rise Again after Dip
Despite a recent drop in the value of the Icelandic króna, it is likely to keep rising in the long term, according to Daníel Svavarsson, an economist at Landsbankinn bank.
Outcry Over Overpriced Ham and Cheese Roll
A buttered roll with ham and cheese being sold for ISK 1,190 [USD 11, EUR 10] is an anomaly, according to Helga Árnadóttir, director of the Icelandic Travel Industry Association.
Popular Bakery Opening New Branches
Since bakery Brauð&Co opened its doors in downtown Reykjavík a little over a year ago, it has had to increase its staff from an initial four to nearly 40 because of demand, and management has plans in the works to open new branch locations in the near future.
Trialing Ferry Service between Reykjavík and Akranes
A ferry service between Reykjavík and the town of Akranes to the north of the capital recommenced yesterday evening after a 19-year break.
Lufthansa to Fly Year-Round to Iceland
German airline Lufthansa has announced that it will add Iceland as a year-round destination.
Tour Company Owner Denounces Large Vehicle Ban
A ban on large coach vehicles in the city center of Reykjavik will take effect July 1.
Awakening of Consumer Awareness
The recent opening of wholesale giant Costco’s first store in Iceland has not been missed by anyone.
Silicon Plant Furnace Working Again
The furnace at United Silicon’s plant in Helguvík, Southwest Iceland was started up again Saturday night, following the repair of a raw material conveyor belt.
Number of Cranes Approaches Record Heights
The number of construction cranes across Iceland is approaching the number counted in 2007, just prior to the banking collapse.
Is Icelandic Króna Too Strong?
The strong value of the Icelandic króna has begun to threaten Icelandic companies, and as a result, jobs, Iceland’s Minister of Finance Benedikt Jóhannesson told RÚV earlier this week.
Íslandsbanki Lays Off 20 Employees
The Icelandic bank Íslandsbanki has laid off 20 employees.
Crowds at Costco Opening
Crowds attended the official opening of US wholesaler Costco this morning in Garðabær, near Reykjavík.
Reopening of Silicon Plant Opposed
The residents’ association Opponents Against Heavy Industry in Helguvík is opposing the Environment Agency of Iceland’s decision to permit the reopening of United Silicon’s plant.
Costco Asks Rescue Workers for Help
Large crowds are expected when Costco opens its store in Iceland on Tuesday, next week.
Central Bank Lowers Key Interest Rate
The Monetary Policy Committee (MPC) of the Central Bank of Iceland announced its decision today to lower the bank’s interest rates by 0.25 percentage points.
Ready for Planet Trappist?
Are you tired of Earth and ready for Trappist?
Silicon Factory Added Tallest Part After Planning Process Ended
It has emerged that the tallest part of the embattled, currently closed, silicon factory at Helguvík was built without permission.