News Iceland: Iceland may be looking at its 'next bubble'
Over the past nine years, the number of tourists visiting the volcanic island has increased exponentially — 440% — from around 500,000 in 2008 to 2.2 million in 2017. Is the country's tourism boon actually a bubble?
News Iceland: Correction: Reykjavík Energy Financial Forecast 2026–2030 | ISK 50 Billion in Annual Investments
In original release, the year 2030 was misspelled in two places. Corrected below. ------------ Significant investments are ahead for the companies within the Reykjavík Energy Group. According to the consolidated financial forecast for Veitur Utilities, ON Power, Reykjavík Fibre Network, Carbfix, and the parent company, total investments are expected to amount to ISK 245 billion over the forecast period. It covers the years 2026 through 2030. On average, annual investments are therefore likely to
News Iceland: Iceland’s credit rating remains A+ with a positive outlook
S&P Global Ratings published a report on Iceland. The report does not constitute a rating action, and Iceland’s credit ratings remain A+ with a positive outlook. According to S&P, the positive outlook primarily reflects the potential for Iceland's budgetary performance to strengthen over the next two years, supporting a sustained decline in net general government debt. The agency forecasts that the general government budget will move close to balance after 2027. S&P highlights Iceland’s strong i
News Iceland: Iceland Interest Rate Decision Due Wednesday Morning
Iceland’s next monetary-policy decision is due Wednesday morning, August 19, with the Central Bank’s Monetary Policy Committee scheduled to publish its statement at 08:30. The Bank’s calendar shows ...
News Iceland: Taxing times for Iceland’s recovering banks
Although more than 30 bankers are behind bars for their role in its traumatic economic crisis, Iceland still seems to be hell bent on extracting its pound of flesh from the banking industry. Why else ...
News Iceland: Iceland offers ‘hundreds’ of jobs to Sainsbury’s staff affected by layoffs
Iceland Foods has appealed to Sainsbury’s and Morrisons staff set to lose their jobs, inviting them to apply for ”hundreds” of vacancies at Iceland HQ, supermarkets and Food Warehouse stores. Iceland ...
News Iceland: Iceland’s Financial Regulator Approves Blockchain-Powered E-Money Firm
The Financial Supervisory Authority (FME), Iceland’s sole financial regulator, has approved the first blockchain-powered e-money firm in the country, as the organization announced on June 14. Reykjavik-based Monerium, backed by blockchain software company ConsenSys, has reportedly been approved by the Icelandic financial watchdog to provide fiat payment services using ethereum (ETH) blockchain, crypto media outlet CoinDesk reported June 14. According to the report, Monerium has become the first company to operate under an electronic money framework, a major European regulatory framework that enabled the firm to offer blockchain-powered e-money services across the European Economic Area (EEA).
News Iceland: Iceland rejects EU accession talks in referendum
Icelanders have rejected a government proposal to resume accession talks with the European Union, the public broadcaster RUV reports. In a vote held on Saturday, 52.8 percent of Icelanders voted ...
News Iceland: Reykjavík Energy Consolidated Annual Financial Statements 2023 | Progress in Climate and Energy Affairs
Development of tariffs for licensed services Development of tariffs for licensed services 2014-2024 Reykjavík Energy (RE; Orkuveita Reykjavíkur) financial position according to the 2023 financial statements is a promising start for the transformation projects that the company and Icelandic society are facing. This is according to Sævar Freyr Þráinsson, CEO, who is implementing the company‘s new overall strategy and introducing a new organisational structure. Profit but High Financial CostsReykja
News Iceland: Purdue Ag Students Visit Iceland to Learn About Farming in Harsh Conditions
For Indiana farmers, resilience is not an abstract concept. It is built into every planting decision made around a wet spring, every crop harvested through a dry summer and every calculation made when ...
News Iceland: Iceland: Where Bankers Go to Jail for 74 Years
LONDON — The director of Iceland’s prison service received an unlikely request from inmates this year—they thought they should be allowed a glass of merlot with their dinner. You see, the tiny ...
News Iceland: Iceland rejects EU-accession talks in close-fought referendum
By Johan Ahlander and Tom Little REYKJAVIK, Aug 30 (Reuters) - Icelanders voted to stay out of the European Union, referendum results showed on Sunday, as they rejected a government push to reopen
News Iceland: Iceland votes to reject EU accession talks: What happens next?
The referendum result halts Iceland’s bid to reopen EU membership talks, with 52.5 percent voting against the proposal.
News Iceland: Iceland Will Curb Bitcoin Mining In Food Security Prioritization Shift, PM Says
'Bitcoin is an issue worldwide,' said Iceland's prime minister in an interview Iceland is the world's largest Bitcoin hashrate producer per capita On the contrary, the island nation only produces 1% ...
News Iceland: UK supermarket Iceland offers loans to help struggling shoppers buy food
British supermarket group Iceland Foods will allow shoppers to take out small, interest-free loans to buy groceries, it said on Wednesday, in a scheme targeted at poor households struggling with soaring costs of living. Iceland will partner with non-profit lender Fair For You to offer loans of 25-100 pounds ($30-$121) through pre-loaded cards to financially vulnerable customers, who can make repayments once a week. The scheme comes as UK inflation hovers around 40-year highs, having risen sharply in recent months, squeezing household budgets and contributing to a wave of industrial unrest.
News Iceland: Iceland Airwaves 2024 Showcases a Festival That’s Still on Fire 25 Years Later, and a Nation Set on Building Its Music Industry From the Inside Out
Inside a top-floor recreation room at the Elliheimilið Grund, a retirement home for the elderly in downtown Reykjavík, the 25th annual Iceland Airwaves festival officially kicked off on Friday, ...
News Iceland: Iceland guarantees deposits to get loans
nepal — Iceland moved to secure $6 billion in loans to refloat its collapsed financial system as Britain said Monday it would welcome a government promise to guarantee its citizens’ deposits in collapsed internet bank Icesave. The International Monetary Fund agreed last month to lend Iceland $2.1 billion (1.7 billion euros) and help the country raise […]
News Iceland: Iceland central bank raises rates by 25 bps amid high inflation
Iceland's central bank raised its benchmark rates for the third time this year to address elevated inflation and inflation expectations amid global economic uncertainties. The Monetary Policy Committee of the Central Bank of Iceland decided to raise the interest rates by 0.
