Few people in Iceland have missed the fact that American doughnut giant Dunkin’ Donuts is about to open its first branch in the country. The news has been controversial and received extremely mixed reactions.
Tax figures for 2014 extrapolated by the business magazine Frjáls Verslun, owned by Iceland Review publisher Heimur hf, show that the average salary of the CEOs of Iceland’s 200 biggest companies is around ISK 2.6 million (EUR 17,580/USD 19,195) per month.
“It is far from true that the water we put in bottles is tap water. Tap water has been through old pipes under the city. Our water comes straight from the spring and from there straight into bottles. Outside air first comes into contact with the water when the bottle is opened. The product we...
Sigurður Einarsson and Hreiðar Már Sigurðsson, the former Kaupþing Bank executives now serving prison sentences following the so-called Al Thani case, have formally requested that the case be re-opened.
Standard & Poor’s has raised the long-term credit rating of the Icelandic government, from BBB- to BBB.
“Brewing has long been my interest and I’ve been carrying this dream in my heart,” says Marteinn B. Haraldsson, owner of the brand new microbrewery Segull 67, in the small town of Siglufjörður.
Landsbankinn bank has decided to build itself a new headquarters next to Harpa on Reykjavík’s eastern quayside.
Costco plans to open its first Iceland branch in the summer of 2016. Company representatives are expected to sign a sales contract on Friday for a 14,000 m2 facility at Kauptún, in Garðabær.
Around 10,000 cars have been sold in Iceland so far this year, the same number as during the same period in 2007, prior to the 2008 crash.
Ma Yun, the owner of Alibaba e-commerce company, visited Iceland yesterday. According to Bloomberg’s Billionaires Index, Ma is the richest person in China and one of the richest individuals in the world.
Visits from Danish, Swedish and Norwegian tourists to Iceland in June have decreased significantly between years while there has been a large increase in visitors from China.
Minister of Industry Ragnheiður Elín Árnadóttir said no formal application for an aluminum smelter near Skagaströnd in Northwest Iceland has been submitted but that the project has been presented to her. It’s in the initial stages, she said, and the energy has yet to be found.
The Icelandic state could increase its revenue by up to ISK 1.3 billion (USD 9.8 million, EUR 8.8 million) per year from supporting international flights to Akureyri in North Iceland and Egilsstaðir in East Iceland, according to the conclusion of a task force presented this week.
Icelandic company Klappir Development and China Nonferrous Metal Industry’s Foreign Engineering and Construction (NFC) signed a declaration of intent on the building of an aluminum smelter in a planned industrial area at Hafursstaðir in Skagabyggð, Northwest Iceland, in Reykjavík on Tuesday.
Sigurður Einarsson, former chairman of Kaupþing Bank, has today been sentenced to one year in prison in the so-called 'big market manipulation case' at the Reykjavík district Court. Hreiðar Már Sigurðsson was also found guilty, but was not sentenced on top of the existing prison term he is...
The former CEO of the savings bank SPRON Guðmundur Örn Hauksson and former board members Ari Bergmann Einarsson, Margrét Guðmundsdóttir, Ásgeir Baldursson and Rannveig Rist were acquitted of charges of breach of trust in Reykjavík District Court this morning.
A group of shareholders in the collapsed bank Landsbanki believe that they can prove how the bank’s former owner Björgólfur Thor Björgólfsson deceived them, causing financial damage to 25,000 shareholders. They have established an interest group to take Björgólfur to court.
Icelandic mackerel might soon be sold to Asia, according to the director of the seafood company VSV in Vestmannaeyjar (the Westman Islands) Sigurgeir Brynjar Kristgeirsson. “We search the world for new markets. We have primarily found them in Southeast Asia and sold mackerel to China and...
Iceland’s GDP is about 20 percent above the EU average, a new report reveals. GDP is highest of all in Luxembourg and Norway.
Municipalities in Northwest Iceland have signed a declaration of intent and a cooperation agreement with Klappir Development ehf. on the construction and operation of a 120,000 ton aluminum smelter they hope to build at Hafursstaðir in Skagabyggð.
Lee Buchheit, a lawyer given the label ‘Crusader for Financially Stricken Countries’ by the Financial Times, is well-known in Iceland.
It would be beneficial to have at least one trusted foreign owner of an Icelandic bank, according to a prominent economics professor. Existing laws on ownership of financial companies should ensure that foreign ownership proved positive, whereas it is not a good idea for the pension funds to...
A company called PCC BakkiSilicon hf. has decided to construct a silicone factory in the industrial zone Bakki, near Húsavík, Northeast Iceland.
Iceland’s head of tax fraud investigation has completed the purchase of tax records from tax havens around the world.