February 8, 2006 - Iceland Review Skip to content

Day: February 8, 2006

Heavy industry projects have low returns, displace jobs

The required return on investment of the hydroelectric power plant at Kárahnjúkar was too low said Ágúst Gudmundsson, chairman of Bakkavör on the current affairs program Kastljós (Spotlight) Tuesday. Gylfi Zoega, professor of economics at the University of Iceland, claimed that the heavy industry projects in northeastern Iceland were the cause of the substantial problems currently being suffered by Iceland’s export industries.

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Sky-high salaries for bank CEO’s

According to NFS, the salaries of Icelandic bank CEOs increased 60% between 2003 and 2004, while 7-800 bank employees were paid less than ISK 210,000 per month for a full day’s work.

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