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Summer Employee Stole Seven Million ISK From The University Of Iceland Lottery
An Icelandic woman has confessed to stealing more than seven million ISK from the University of Iceland Lottery (Happdrætti Háskóla Íslands) while working there as a summer employee in 2023, reports Vísir. She has been sentenced to a 30-day suspended prison sentence…
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Iceland Is Currently Much More Expensive Than Norway
The Icelandic króna is at one of its strongest levels in history, making Iceland considerably more expensive than Norway and raising concerns about the competitiveness of the country’s export sectors, RÚV reports. The currency has seen a sharp rise in value in…
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One In Three Worried About U.S.-Imposed Tariffs, Inflation Increases
According to a recent survey by Maskína, about 30% of Icelanders are worried about the negative impacts of U.S.-imposed tariffs, mbl.is reports. About seven percent are very worried, while 22.5% are somewhat worried. Most respondents, 37.8%, have mild concerns. Left-Green Party voters…
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It’s Company Time!
Traversing the landscape of bureaucracy in search of a shiny ehf Whether you sell handicrafts or make music, it turns out that you can start a company – most likely a private limited company, known as “ehf.” We spoke with Rannveig Lind…
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Money Moves: Investing Made Simple
They say investing is the key to unlocking financial success, but for most ordinary people, terms like bonds, stocks and equities sound like little more than a list of buzzwords. Things like investing are rarely taught in schools. We sat down with…
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Lowest Inflation In Ten Months
The annual inflation rate has decreased, according to new data from Statistics Iceland. Inflation is now 7.6%, as opposed to 8.9% in June. A major factor in calculating this result is lower prices on shoes and clothing due to summer clearances. …
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Side Hustle Of The Issue: The Dog Walker
With Jaki the Siberian husky, Mía the schnauzer by his side, Guðmundur Ingi Halldórsson turns heads as he strolls through downtown. But there’s more to his strut than meets the eye. With each step, a few more krónur find their way into…
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Eating Well On a Budget
How to feed a family without splurging Katrín Björk Birgisdóttir regularly posts her grocery hauls to YouTube. A nail technician by day, Katrín is known for challenging herself to cook on a budget. Is it possible to feed a family for cheap…
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Side Hustle Of The Issue: The Weekend Musician
Prices in Reykjavík are rising as you read this, post-pandemic layoffs persist and AI is threatening to take over everybody’s job. Today’s generation isn’t worried about affording a house; we’re just happy if our expenses don’t surpass our income. Everyone is hustling.…
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300,000 ISK Lost On Laugavegur
Fréttablaðið reports an incident—a man lost 300,000 ISK on Laugavegur yesterday. [su_pullquote]If you are coming to Iceland check out our goodie bags that you can order direct to your hotel. Also check out our walking tour with Valur and Polly here. More…
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Basic Wages Increased By An Average Of 6.6% In 2020
Basic wages have increased throughout 2020 by 6.6% and are still rising. The lowest wages in Iceland in 2020 were in accommodation and restaurant operations but also in waste management, and work in water and sewerage. On the other hand, regular monthly…
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New Billionaire In Iceland, Thanks To Largest Lottery Payout In Icelandic History
Last night a very lucky Icelander won the Vikinglótto – and received the largest amount of money ever won in Iceland. The fortunate person won an astonishing 1,270,806,970 ISK, or slightly less than $10 million USD. An announcement from Íslensk getspá says…
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Police Warn Of Counterfeit Bills In Circulation
Capital area police have issued a statement saying they have received numerous reports of counterfeit 5,000 ISK and 10,000 ISK notes and some euros being circulated. Investigations are reportedly underway. Counterfeiters will typically attempt to launder this money by making small-time purchases…
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A Bad Year for the Icelandic Króna?
The Icelandic króna has continued to weaken against the euro throughout this year, reaching its weakest level last Wednesday when one euro was equivalent to approximately ISK 165, RÚV reports. Today, one euro is equivalent to approximately ISK 160, a rapid strengthening…
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Iceland’s Sigur Rós Accused, Then Cleared, Of Tax Evasion
Local media outlet Fréttablaðið reported this morning that members of popular band Sigur rós have recently been accused of tax evasion following an inquiry by the Directorate of Tax Investigations in Iceland. The District Commissioner in the capital area immediately froze around 800…
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Sigur rós Involved In A Lawsuit Over Millions Of ISK Missing From Concert Revenue
The 35 million ISK that went missing from the tickets sale of Sigur rós’ Norður og Niður festival were never paid back, prompting a lawsuit that dragged all parties involved to Reykjavík District Court, Fréttablaðið reports. Breach of contract According to Harpa…
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The Curious Case Of The Paralysed Lawyer – Part 2
You might remember the intriguing drug smuggling story we reported on a couple of weeks ago, involving a paralysed woman stuck in Spain and a parcel filled with 8kg of drugs sent from Spain to the Icelandic Chess Association. Two weeks later,…
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Last Words: The Degeneration Of Humanity
What do you do when you need the extra cash to pay rent that has doubled in the past six months? Or maybe you simply want to get pampered? Here’s a thought: find a sugardaddy. According to local news outlet Vísir, around…
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Missing In Iceland: Casinos
Looking for a casino to spend countless hours playing blackjack in the hope of scoring some big bucks? Well, in Iceland, you’re out of luck. There are no casinos, as such establishments are illegal by law. Apart from the old-fashioned slot machines…
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Crisis? What Crisis? The Icelandic Tourism Industry Teeters
In late June, Icelandair reported that it had laid off 20% of its pilots. A few weeks later, it reported an 11% increase in passengers from the same time last year. What gives? Ever since the economic collapse of 2008, people have…
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Show Me The Money: 5000 ISK
Until the mid-to-late 19th century, most financial transactions in Iceland were conducted in vaðmál (homespun wool). However, since 1922, Iceland has issued its own currency, the króna. Iceland never being the best at economic stability, the króna has lost significant value every…
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Money Laundering In Iceland, And How We’re Fighting It
Guðrún Árnadóttir and Björn Þorvaldsson do not have the most glamorous jobs in the world. In fact, chances are you never heard of them before if you haven’t been following the Icelandic news for the past ten years now. And yet these…
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Missing In Iceland: Pawn Shops
In a lot of major metropolitan areas around the world, if you’re hurting for some pocket money and you need it now, you can typically take anything of value down to your local pawn shop. DVD players, bicycles, rifles—whatever it is, they’ll…