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Watch an audio slideshow of how traditional Icelandic rhubarb stew is made. Rhubarb is one of the few vegetables that grows effortlessly in Iceland and for that reason it used to be a highly-valued addition to the traditional diet of fish and lamb.
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Former CEO of Icelandic bank Landsbanki Sigurjón Þ. Árnason, the bank’s former company division managing director Elín Sigfúsdóttir, former director of proprietary trading Ívar Guðjónsson and three other former employees of Landsbanki are facing charges because of alleged market abuse worth tens of billions of ISK.
Landsbanki's headquarters. Photo copyright Icelandic Photo Agency.
This is the first extensive case for which the Office of the Special Prosecutor in Iceland issues charges concerning Landsbanki. The charges involve three different cases, including the company Ímon that bought shares worth ISK 9 billion (USD 72 million, EUR 55 million) in Landsbanki shortly before it collapsed in October 2008, ruv.is reports.
According to the report of the Icelandic parliament Alþingi’s special investigative commission, all of the shares were bought by Landsbanki’s proprietary trading division.
The report states that Ímon was granted a loan from Landsbanki worth ISK 5 billion at the end of September 2008 to buy shares in the bank itself.
The Icelandic Financial Supervision Authority referred its case against Landsbanki’s former employees to the Office of the Special Prosecutor in 2010, which resulted in extensive investigation, leading to Sigurjón and Ívar being taken into custody in January 2011.
The charges were issued last week and are to be presented to the accused today. They will likely be made public in the coming days.
Related:
19.01.2011 | Custody Confirmed over Former Landsbanki CEO
17.07.2009 | Ten People Questioned over Imon’s Landsbanki Acquisition
ESA
One of the last tasks of Steingrímur J. Sigfússon while in office as minister of industries and innovation was to issue a regulation on Monday extending the reserve for whales in Faxaflói bay, off Reykjavík in Southwest Iceland. The regulation took affect at midnight.
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The Identification Committee of the National Commissioner of the Icelandic Police yesterday completed its investigation of human remains found by travelers on the beach Kaldbaksvík in Strandir, the eastern West Fjords, on Saturday.
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The government of Jóhanna Sigurðardóttir will formally step down after a state council meeting with President of Iceland Ólafur Ragnar Grímsson at his residence Bessastaðir at 11 am today. At 3 pm, the new government of Sigmundur Davíð Gunnlaugsson will attend a state council meeting and afterwards formally take power.
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Air traffic was grounded at Keflavík International Airport for up to two hours this morning due to a failure in the flight data system. Due to the delay, many passengers missed their connecting flights.
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The 2013 April-May issue of Iceland Review & Atlantica has been released. Packed with informative and entertaining stories, highlights include an interview with outgoing Prime Minister Jóhanna Sigurðardóttir and the people who know her best, a photo essay of ice caves in Europe’s largest glacier and a colorful feature on life in the West Fjords.
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REVIEWS
The 11th Reykjavík Shorts & Docs. Catch it while it lasts!
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Artist couple Nína Ivanova and Ómar Smári Kristinsson explain why they decided to settle in the West Fjords’ capital.
Reykjavík Queer Choir’s annual spring concert takes place on Friday, May 24.
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