May 25, 2005 - Iceland Review Skip to content

Day: May 25, 2005

Aluminum galore

Yesterday, the daily market bulletin of Icelandic bank Íslandsbanki included a discussion of the Icelandic Króna, ISK, and the possibility of further heavy-industry projects in Iceland. Íslandsbanki attributes the reversal of the ISK’s recent slide to expectations that some of the projects now being aired will come to fruit.

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Hey big spender!

Meanwhile, the daily market bulletin of Icelandic bank Landsbanki reported yesterday that the level of short term indebtedness of Icelandic households, as evidenced by bank overdrafts, was back to previous high levels after the wave of mortage refinancings that took place over the past year.

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Some like it hot

In a new economic outlook for Iceland released yesterday, OECD voiced several concerns about the state of economic affairs in Iceland. It claimed that the economy was overheating and warned against inflation and “huge external deficits and debt levels”.

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New destination for Iceland Express

Morgunblaðið reports today that Iceland Express has started flying into Hahn airport in the vicinity of Frankfurt. The company also expects to announce several additional destinations shortly, bringing the total number of flight routes from three (Frankfurt, London and Copenhagen) to four, or even six, according to Birgir Jónsson, the CEO of Iceland Express.

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