gavel as used in courts

Glitnir Bank Employees Sentenced to Prison

The four former Glitnir Bank employees accused of breach of trust and market manipulation in connection with the bank’s ISK 3.8 billion loan to BK-44 in 2007 were yesterday sentenced to four and five years imprisonment.

Icelandair plane

Icelandair Mechanics’ Strike Canceled

Contract negotiations between aviation mechanics and Icelandair have broken down again and their indefinite strike is still planned to begin tomorrow – although that now seems unlikely, because the Icelandic parliament has been called in from its summer break to debate the matter and vote on...

Icelandair plane

Icelandair Mechanics on Strike

Contract negotiations with Icelandair mechanics failed yesterday, meaning their threatened strike is going ahead today, causing disruption to flights.


Bónus with Best Prices

The food item with the biggest difference in price between supermarkets surveyed by the Icelandic Federation of Labour (ASÍ) was an avocado. ASÍ checked the price of 105 grocery items at different supermarkets and found that the price of avocados differed by up to 138 percent.

Reykjavík harbor

Solar Silicon Plant Planned in West Iceland

U.S. company Silicor Materials, a leading manufacturer of high-quality solar silicon, plans to sign a contract with Faxaflóahafnir Associated Icelandic Ports on the building of a new silicon plant at Grundartangi in Hvalfjörður today.