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.
The claimants of the collapsed Icelandic banks have agreed to the conditions introduced by the government of Iceland in order to guarantee economic stability when the capital controls—which have been in place since the banking collapse in 2008—will be lifted.
A cool climate, energy security and green electricity production are among the reasons making Iceland a good location for data centers.
Domestic energy prices in Iceland vary drastically based on where you live, with 138 percent difference between the cheapest and the most expensive.
Yesterday was a record-breaking day in the seas around Iceland, with around 850 ships and boats on the Coastguard radar system at midday.
Very high prices at tourist destinations around Iceland are having a negative impact on the industry, experts warn.
Icelandic unions’ contract negotiations may be about to get easier; possibly leading to an end to ongoing strikes.
For 85 years Björnsbakarí bakery has made the bread for Bæjarins bestu iconic Reykjavík hotdog stands. However, from September 1, the bakery Gæðabakstur/Ömmubakstur will bake the hot dog bread for Bæjarins bestu after the bakery made the company a better offer.
General workplace members of Efling union have voted to go on strike and did so by a wide margin in a postal ballot.
Ísfugl has been granted a license to slaughter chickens on the proviso that the meat will be frozen and stored, and not sold before the ongoing vets’ strike is over.
Deutsche Bank is believed to have put both its Asia heads of corporate finance on leave—though apparently for unrelated reasons.
Ólafur Ólafsson, former majority owner of Kaupþing Bank, has requested the reopening of the Al-Thani case, for which he in February was sentenced to four-and-a-half years in prison for being party to market manipulation.