A free trade agreement between Iceland and China will take effect on July 1 after the process of implementing the agreement into law was completed.
Prime Minister of Iceland Sigmundur Davíð Gunnlaugsson has reaffirmed that Iceland could adopt another currency, the Canadian or U.S. dollar.
The biggest media company in Iceland, 365 miðlar, has signed a contract with Condé Nast to produce an Icelandic version of Glamour magazine.
The government’s household debt relief plan was passed by parliament on Friday and the web portal leidretting.is was opened for applications yesterday.
Icelandair flights are running according to schedule today a day after the government passed a law making planned strikes by the airline’s pilots illegal.
Negotiations between pilots and Icelandair on a new collective bargaining agreement were broken off at around midday today. A new meeting has not yet been scheduled ahead of a planned strike on Friday from 6 am to 6 pm.
Icelandic hamburger restaurant Hamborgarabúlla Tómasar opened Tommi’s Burger Joint in Berlin on Friday. The restaurant is proving so popular that the hamburgers sold out two hours before closing time on its opening day.
Icelandair has announced that the strike by the airline’s pilots could cost the company at least ISK 1.5-1.7 billion (USD 13.3-15 million, EUR 9.6 million-11 million). Other businesses are also reporting losses as a result of the strike.
Clive Stacey, managing director of British travel agency Discover the World, urges Icelandair pilots, who have been on strike, to reduce their demands for a pay rise.
A total of 10,500 people out of 181,900 in the labor force in Iceland were unemployed and in active job search during the first three months of this year.
The Icelandic food production company, Icelandic Group has obtained a court order forcing the Aldi supermarket chain to stop selling a line of fish dishes.
Birna Sverrisdóttir, who is often known simply as Birna in the Block, is finally about to get some neighbors in her apartment block on Stamphólsvegur in the southwest Iceland town of Grindavík, about 45 minutes’ drive from Reykjavík.
The Danish design store, Stof & Stil has been accused of stealing the Notknot pillow design by Icelandic designer Ragnheiður Ösp Sigurðardóttir.
With the Icelandic airport workers’ dispute still unresolved, there is more potential bad news for air passengers as Icelandair pilots prepare for an overtime ban and possible strike action.
As the fall-out from Iceland’s banking crisis continues to make headlines half a decade on, a small savings bank’s dabbling in pizza is the latest embarrassing revelation.
Icelandic credit information company Creditinfo will move its headquarters abroad. The company employs around 300 people in 17 countries and reported profits of around ISK 500 million last year, according to news website kjarninn.is.
According to head of the Central Bank of Iceland, Már Guðmundsson, it is impossible to loosen the financial restrictions in place in Iceland without jeopardizing its economical and financial stability. The statement was made in the foreword of a recent publication of the Central Bank.
According to a new poll carried out by MMR, 47.3 percent of the Icelandic population is dissatisfied with the government’s draft bill for the reduction of household debt.
Unreported economic activity seems to be on the rise in Iceland’s tourism industry, according to the Confederation of Icelandic Employers (SA). SA found that tax revenue from the tourism industry is not in line with the increase in tourists to Iceland.
“We all know that the Icelandic króna is not to the benefit of the Icelandic population. It actually benefits politicians and public officials. They can maintain central control of the system,” said Heiðar Már Guðjónsson, economist and head of the board of directors of Vodafone, in an interview...
The introduction of the quota system in Icelandic fisheries in the 1980s has resulted in consolidation in the fishing industry. Today the ten largest companies hold over 50 percent of the quota.