The number of tourists visiting Iceland in 2015 is expected to increase by 25 percent.
The combined profits of the three large commercial banks in Iceland, Landsbanki, Arion Banki (earlier Kaupþing) and Íslandsbanki (earlier Glitnir), was ISK 80 billion (USD 600 million, EUR 530 million) last year. Since the banking collapse in 2008, they’ve earned ISK 370 billion (USD 2.8 billion...
The behavior of capelin is still considered to be strange, even though parts of the fish stock has now migrated to its usual grounds off Southeast Iceland. The fish can also be found in large quantities off North Iceland. It lingered there for a longer time than usual this season.
With still six weeks to go before Easter, the first chocolate Easter eggs will appear on shelves in stores around Iceland today.
Former CEO and of investment company FL Group Hannes Smárason was this morning acquitted of charges of embezzlement from the company’s funds in Reykjavík District Court. The prosecution is to cover all costs, including ISK 10 million (USD 76,000, EUR 66,000) in defensive fees.
Special Prosecutor Ólafur Þór Hauksson, who filed the charge against the Kaupþing four, who were convicted in the Al-Thani case on Thursday, believes that the verdict along with other recent convictions in economic violations reduce the likelihood of similar violations being committed in the...
The Supreme Court of Iceland concluded in its verdict yesterday when sentencing four former key executives of Kaupþing Bank to prison that Sheik Mohammed Bin Khalifa Al-Thani of Qatar’s acquisition of a five percent share in the bank two weeks before the banking collapse in 2008 was a deception...
The Supreme Court of Iceland today upheld prison sentences on four former key executives and majority owners of Kaupþing Bank in the so-called Al-Thani case in what is the heaviest sentence ever given in Iceland for economic fraud.
A whistleblower who offered the Icelandic Directorate of Tax Investigations data documenting tax evasion by individuals with links to Iceland several months ago is asking ISK 150 million (USD 1.1 million, EUR 1 million) for the information, according to a statement from the Ministry of Finance....
The first Senegal soles were slaughtered and packed at Stolt Sea Farm at Hafnir, a new fish farm in Southwest Iceland, on Wednesday. The first batch were 1,000 fish or about 500 kg (1,100 lb).
The alternative fuel plant Carbon Recycling at Svartsengi in Southwest Iceland will triple its production in a few weeks. The Icelandic National Planning Agency has approved the plant’s enlargement.
Startup company Codland in Grindavík, Southwest Iceland, has received ISK 75 million (USD 563,000, EUR 496,000) in funding from Nordic Innovation for developing products from fish skin. Once a three-year research project has been completed, the plan is to build a plant in Grindavík and process 3...
The Icelandic Marine Research Institute has suggested an increase in the capelin fishing quota by 320,000 tons since the last season, totaling 580,000 tons. Minister of Fisheries and Agriculture Sigurður Ingi Jóhannson celebrates the suggestion and will increase the quota accordingly.
The rental prices for apartments in Reykjavík and neighboring towns has increased significantly in the past years. While rental prices have increased by 40 percent since 2011, the consumer price index has only increased by 16 percent in the same period.
The National Energy Authority has decided to withdraw three of the power plant options submitted to the task force working on the third stage of the framework program for energy harnessing and nature protection as they were located within Vatnajökull National Park.
The sale of fish from Iceland to the U.S. has increased steadily in the past years in spite of calls from conservationists to boycott Icelandic seafood and the U.S. administration’s threat to place an embargo on fish imports from Iceland because of commercial whaling.
There are indications that Iceland’s biggest hotel, Fosshótel Reykjavík, will be fully booked on the opening day in June this summer.
Changes to the value added tax (VAT) took effect yesterday, resulting in a higher price of food products, while the price of clothing, beauty products, medicine, alcohol, tobacco, furniture, phones, computers, cars and jewelries, among other products, will drop.
Jóhannes Haukur Hauksson, one of the owners of the remote farm Grímsstaðir á Fjöllum, Northeast Iceland, says the land is still on the market after it was put up for sale in the European Economic Area (EEA).
Twenty-one year old entrepreneur Aðalsteinn Lárus Skúlason recently set up Iceland’s first electric car rental service, Electric Carrental.
The volcanic eruption in Holuhraun has had a harmful effect on tourism in North Iceland; the number of foreign tourists in the region has dropped significantly in the past months. Managing director of the North Iceland Marketing Office Arnheiður Jóhannsdóttir calls for a marketing initiative....
Róbert Guðfinnsson was named Business of the Year by Frjáls verslun (‘Free Enterprise’), Iceland Review’s sister publication. The choice is a bit unusual. Róbert’s investments in Siglufjörður have the flair of the shared value policy presented at Harvard University several...
The average 12-month inflation in Iceland measures 0.8 percent. It’s the first time since 1998 that inflation drops below 1 percent. In the past three months, Iceland has seen a deflation by 0.3 percent, according to the latest update from Statistics Iceland.
U.S. airline Delta has canceled plans for scheduled flights between Keflavík International Airport and Minneapolis next summer as the company was unable to obtain service slots at the airport. In summer 2014, Delta offered daily flights between Iceland and New York.