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Labour, Management & Central Bank Square Off Over Inflation–And How To Stop It
There is no disputing that Iceland’s inflation rate has been steadily rising–from 4.3% in July 2021 to 7.6% in April 2022. The real question is what to do about it, and the Central Bank, business leaders, and union representatives all have different…
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Session Craft Bar Is Worried About The Financial Impact Of The New Restrictions
In an interview with Fréttablaðið, the owner of Session Craft Bar has stated that the financial impact of the government’s actions today is enormous. Ásmundur Sveinsson is one of the co-owners of the bar that sits in the centre of Reykjavik and…
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Blue Lagoon Reports €22 Million Profit In 2019 Amid Mass COVID-19 Layoffs
The Blue Lagoon 2019 revenue totalled € 125 million, yielding a €22 million profit, Fréttablaðið reports. The Blue Lagoon manages the world-famous tourist attraction along with several connected shops, restaurants and hotels. At the end of 2019 its assets totalled €79.5 million.…
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More Turbulence: Icelandair CEO Dropped Like Its Stock Price
The saga of Icelandic airlines is far from over. Attention is back on the country’s legacy airline, Icelandair. The company announced earlier this week that its earnings would be lower than previously stated, with the latest estimate being about half of that…
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Iceland’s Equal Pay Law Sets New World Standard
Iceland has always been praised as a country with great equality between men and women. It also recently became the world’s first nation to make it mandatory for companies and institutions with more than 25 employees to prove that they pay men…
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American Food Chain Dunkin’ Donuts Is Poised To Appear Around Iceland
Stepping out onto the main street of most European capitals these days, it would be plain odd not to see a Starbucks or a McDonald’s. American food chains have become widespread to the point of ubiquity over the last few decades by…
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Number Of Women In Corporate Leadership Positions On The Rise
A third of managers, chairs and members of Board of Directors at Icelandic enterprises with 50 or more employees were women at the end of 2014, according to Statistics Iceland. This is an increase of 0,4 % since 2013 and 12,8 % since…
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Bankers On Trial, Again
The Reykjavík District Court began hearing oral testimony on Monday in the largest case relating to the events leading up to the crash of 2008. Nine former managers of Kaupthing bank are on trial for market manipulation in the 11 months leading…
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Young Entrepreneurs Start Business For Acid Attack Survivors In India
CEOs Kormákur Arthúrsson says that he and Sigurbjörn B. Eðvarðsson they established the company KrummiSpice to ameliorate the situation of women who have suffered acid attacks in India. Interviewed by RÚV, Kormákur said that perhaps the topic could be seen as somewhat…
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Qlik Acquires DataMarket For $13.5Mi
DataMarket, a company specialising in analysis and visual representation of data, established in Reykjavik in 2008, has been sold to NASDAQ registered software provider Qlik. Qlik acquired all stock in Datamarket for US$ 13.5 million, equalling 1.6 billion ISK. Hjálmar Gíslason, founder…
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Women 10% Of Highest-Earning CEO’s In Iceland
According to new figures from Frjáls Verslun women make up only 10% of the highest-earning CEO’s in Iceland. Out of 200 top-earning CEO’s women account for only 20 and out of 19 categories (split by industry) only one woman came in first place. Vísir reports that Unnur…