On Wednesday, 70 years had passed since the convoys of the allied forces in World War II sailed from Hvalfjörður in West Iceland to Russia. To commemorate the anniversary, an information center on the allied occupation of the region will open there on Saturday.  more

The Monetary Policy Committee (MPC) of the Central Bank of Iceland has decided to raise the bank’s interest rates by 0.5 percentage points to 5.5 percent, as announced yesterday.  more

Sigurður Einarsson, former chairman of the board of Kaupþing, must pay the bank’s estate almost ISK 500 million (USD 3.9 million, EUR 3.1 billion) because of a loan he took to buy stock in Kaupþing, according to a verdict announced at Reykjavík District Court yesterday.  more

Ascension Day is a Christian holiday celebrated 40 days after Easter to commemorate Jesus’ bodily ascension to heaven in the presence of his apostles. Some Icelanders go to church; others relax at home or take part in outdoor recreation.  more

The Norwegian government supports many of Iceland’s arguments in the case of the EFTA Surveillance Authority (ESA) against Iceland in the Icesave dispute, which is currently before the EFTA Court, in their written remarks to the court.  more

Magnús Skarphéðinsson, principal of the Icelandic Elf School, has expressed his concern that Independence Party MP Árni Johnsen may be subject to an accident after relocating a boulder allegedly inhabited by elves to his home in the Westman Islands.  more

The first music festival this summer, Reykjavík Live, kicks off with concerts in the center of Iceland’s capital tonight and will carry on through May 20. The venues are Gamli Gaukurinn, Glaumbar, Prikið and Frú Berlaug.  more

President of Iceland Ólafur Ragnar Grímsson and his main rival for the presidential election on June 30, Þóra Arnórsdóttir, are supported by an almost equal number of voters, 41.3 and 43.4 percent, respectively, as indicated in a new survey.  more

The West Fjords District Court ruled on Monday that a man found guilty of having drowned a Labrador by tying its front and hind legs, fastening it to car tires and throwing it in the ocean is to pay ISK 100,000 (USD 786, EUR 612) in fine.  more

The current issue of the quarterly magazine Iceland Review includes interviews with fashion photographer Saga Sig and conceptual artist Rúrí. Also, we take you to Grímsstaðir á Fjöllum, that desolate land coveted by a Chinese tycoon, and also explore Icelandic archeological remains. We discuss the Icelandic Church, the flourishing gaming industry, debate the future of Iceland’s energy resources and interview the president of the Icelandic National League of North America. Subscribe now and receive a free photo book by IR’s editor Páll Stefánsson of the Eyjafjallajökull eruptions. Click here to subscribe to the magazine and here to buy a gift subscription.  more