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Click on the picture to watch an audio slideshow of a hike to Hraunsvatn lake in Öxnadalur valley in north Iceland, which lies at a height of 490 meters, interlocked between two steep mountains and a small glacier with a view of the majestic Hraundrangar peaks.
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Fjallabyggd (“Mountain Settlement”) is a skier’s dream. Its slopes are perfect for slaloming and there are also tracks for telemark skiing. Winter sporting enthusiasts can also go ice skating or rent snowmobiles. In summer, Fjallabyggd turns into a paradise for hikers. Read this special promotion about one of Iceland’s best hidden gems.
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Two out of three aluminum companies in Iceland trade with the Icelandic króna in foreign markets in such a way that they profit from the difference between the official exchange rate of the Central Bank of Iceland and the króna’s exchange rate abroad.
The aluminum smelter in Reydarfjördur under construction. Photo by Páll Stefánsson.
“Many companies have exemption from the [currency] restrictions, according to the 14th paragraph of the regulations,” Central Bank governor Svein Harald Oeygard told Fréttabladid. “But exemptions aren’t made so that companies can profit because of the regulations.”
This type of trade takes place, for example, in the following manner: Companies buy currency in a market in Europe where the exchange rate of the króna is more profitable. In this way these companies obtain more króna for each dollar in export revenue than if they had exchanged the currency in Iceland.
However, such practice is not illegal since the companies in question have exemption from the Central Bank’s currency regulations.
Both Alcan and Alcoa in Iceland confirmed that their companies had spent a low percentage of their revenue to purchase Icelandic króna abroad.
Nordurál – Century Aluminum, on the other hand, stated that all trade has taken place in Iceland and through Icelandic commercial banks.
Alcan has now decided to change the nature of its trade with the Icelandic króna. The company has contacted the Central Bank requesting that its currency trade only take place in Iceland from now on.
Click here to read more about the currency restrictions.
The 11th annual Night of Lights festival begins today in Reykjanesbaer municipality in southwest Iceland. Tomorrow and Saturday night, many of the country’s best bands will play in Reykjanesbaer and on Sunday local choirs will entertain guests.
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Iceland’s cabinet met at the presidential residence Bessastadir at noon today where new ministers were announced: Gudbjartur Hannesson of the Social Democrats will lead a new Welfare Ministry and Ögmundur Jónasson of the Left-Greens a new Ministry for Internal Affairs.
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The average temperature of the three summer months, June, July and August, in Reykjavík this year was 12.2°C (54°F), which makes this the warmest summer in the capital since temperatures were first recorded in 1871, according to meteorologist Trausti Jónsson.
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The comedy sketch show Spaugstofan, which has been shown more or less continuously for 21 years on the Icelandic national broadcaster RÚV, has now been relocated to the private television channel Stöd 2.
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The second issue of the print edition of Iceland Review 2010 has just been published. Entitled “Under the Volcano” the magazine dedicates 20 pages, words and pictures, to the volcanic eruption in Eyjafjallajökull glacier which made headlines all over the word. New subscribers will receive the book 2010 Eruptions as a gift and all subscribers are part of a draw to win a trip to Iceland. Click here to subscribe to the magazine.
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REVIEWS
Dadi Gudbjörnsson's art with its smiley faces, Aladdin's lamps, gleaming hearts, blue mountains and psychedelic flora of unearthly origin reminds me of the cheesy R.E.M. song “Shiny Happy People”. The sugar-sweet naivety fails to amuse me but I must admit it infects my mood with delirious joy.
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Former President of Iceland Vigdís Finnbogadóttir turned 80 on 15 April this year and Mayor Hanna Birna Kristjánsdóttir—in making her an Honorary Citizen of Reykjavík to mark the occasion—observed that Finnbogadóttir’s life was interwoven with that of Reykjavík. In June 1980 Finnbogadóttir made history when she became the world’s first democratically elected female head of state.
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Today, August 30, and tomorrow is your last chance to visit the exhibition “Eau De Parfum” by Andrea Maack at the Spark Design Space in Reykjavík. In the exhibition space, Maack introduces three perfumes that are the result of her collaboration with French perfumery apf aromes & parfums.
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