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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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The state-run bank Íslandsbanki acquired 42 percent of share capital in Icelandair Group yesterday, increasing its total holdings in the company from five to 47 percent. Most of the share capital in question, almost 38 percent, was formally held by investment companies Máttur and Naust.
The stocks taken over by Íslandsbanki had been put up as collateral for loans taken to purchase stocks in Icelandair Group. The Financial Supervisory Authority (FME) granted Íslandsbanki an exemption from a mandatory bid, visir.is reports.
“These changes among the group of owners were not surprising in light of the economic situation. They won’t have any impact on the daily operations of Icelandair Group nor its individual subsidiaries,” CEO of Icelandair Group Björgólfur Jóhannsson wrote in an email to his employees yesterday morning, mbl.is reports.
“The bank said in a statement that our operations have been more successful than expected this year, that the company will continued to be listed on the stock exchange and that the stake will be resold as quickly as possible,” Jóhannesson wrote.
The CEO encouraged his employees to continue “the good work that our companies are already doing during these unusual times,” pointing out that the busiest time of the year in aviation and tourism lies ahead and that by focusing on the projects at hand the company’s interests will remain intact.
Einar Sveinsson, the outgoing vice-chairman of the board of Icelandair Group, who held the majority of shares in Naust with his brother Benedikt Sveinsson and also a large share in Máttur, told Morgunbladid that the state of Icelandic companies is tragic.
“One after another they seem to end up in the state’s ownership. It is as if full-scale state socialism has taken over. Many of these companies, including these two that I have connections with, are the victims of this course of events—not the perpetrators,” Sveinsson claimed.
It looks as if Íslandsbanki and Landsbanki, another state-owned bank, might end up with a combined share of 70 percent in Icelandair Group. Sveinsson stated that these measures are only the tip of the iceberg and that there is the risk of an extensive domino effect.
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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