The economic measures introduced by the government Wednesday are the largest ever in Icelandic history, according to Finance Minister Bjarni Benediktsson.
The Central Bank of Iceland has recommended an exemption from the Foreign Exchange Act be given to the failed banks, Kaupthing hf., Glitnir hf., and LBI hf.
Giving Icelandair priority when it comes to allocating airport slots at Keflavík Airport hinders competition in the airline business in Iceland.
The Reykjavík Fire Department was called out to the Central Bank of Iceland shortly before midnight after water had begun leaking into the building’s hallways.
The Directorate of Tax Investigations in Iceland will begin investigating the tax returns of 30 individuals.
The creditors of Glitnir Bank have proposed to relinquish all of Glitnir’s holdings in Íslandsbanki LTD to the State as part of their stability contribution.
The Icelandic software company Meniga is one of 40 companies from 24 countries to win an award at the UN-based World Summit Award.
The Reykjavík District Court today sentenced three defendants in the Marple Case, but found one of them not guilty.
Yesterday, the Supreme Court of Iceland sentenced Sigurjón Þ. Árnason, former director of Landsbanki, to three and a half years in prison.
The travel agency Discover the World announced Wednesday that it would be offering direct flights between London Gatwick and Egilsstaðir, East Iceland, starting next year.
The British television station ITV has decided to purchase quiz shows based on the video game QuizUp, created by Icelandic company Plain Vanilla.
Estonian Air will launch scheduled flights between Akureyri, North Iceland, and Copenhagen, Denmark, next summer.
The 2015 commercial whaling season, which began last spring, has come to an end with the catch totaling 184 whales. Quotas were issued for two species of whale: fin whales, the meat of which is intended for export, and minke whales, which are consumed domestically.
At a meeting in Harpa concert hall today, the creditors of Kaupþing Bank agreed to pay ISK 120 billion (USD 937 million, EUR 839 million) in stability contribution in order to be exempt from capital controls.
The 12-month rate of inflation in Iceland now measures 1.9 percent, according to Statistics Iceland.
Sigurður Einarsson, the former chairman of Kaupþing bank, has formally requested the Reykjavík District Court declare him personally bankrupt.
Business directors’ assessment of the current employment situation is similar to what it was at the beginning of the financial boom in 2004, and their forecast for the next six months is better than what it was during the boom, between 2004 and 2007.
Títan Investments, a company solely owned by WOW air CEO Skúli Mogensen, increased its share in the budget airline by ISK 655 million (EUR 4.5 million/USD 5.2 million) in December 2014.
Prime Minister of Iceland Sigmundur Davíð Gunnlaugsson has declared that the long-running Icesave dispute with the UK and the Netherlands is now officially over—taking the opportunity to congratulate Icelanders on a complete victory.
The analysis department at Arion Bank has released a report saying that welcoming a large number of refugees to Iceland would be a very extensive and expensive project, but that the long-term economic effect would be a positive one—adding that there is little to suggest that the move would cause...
Iceland and the European Union yesterday signed a new convention which will see both parties abolish import duties in several key food areas.
Fishermen and fisheries workers look set to lose between ISK 990 million and ISK 2.5 billion per year (EUR 6.9-17.3 million/USD 7.8-19.7 million) as a result of the trade sanctions levied against Iceland by Russia. Ten communities will be particularly badly hit by the trade ban, according to the...
At the end of 2014, more than six years after the financial crisis, Icelanders still possessed ISK 31.6 billion (USD 247 million, EUR 219 million) in the British Virgin Islands, and almost solely on the island of Tortola, according to new figures from the Central Bank of Iceland