The Icelandic government’s sale of 22.5% of Íslandsbanki bank in a private stock offering last March has resulted in allegations of corruption, investigations by two state institutions, weekly public protests, and calls for Finance Minister Bjarni Benediktsson to resign. What went wrong?BackgroundAfter the 2008 banking collapse, a restructuring of Iceland’s financial system took place. From […]
Iceland’s newest discount airline, PLAY, reported a loss of ISK 1.5 billion [$11.5 million; €10.78 million] in the first quarter of 2022. Per the Interim
A delegation of Icelanders, including President Guðni Th. Jóhannesson and Minister of Culture and Trade Lilja Alfreðsdóttir, met with representatives of tech giants Microsoft, Google,
The conversation about renewable energy is buzzing louder than ever before. Talk about methanol, in particular, is gaining traction across the automotive, marine, and electricity sectors, all of which have long relied on fossil fuels. A clean-burning, water-soluble and biodegradable electric fuel, methanol is the world’s simplest alcohol and is comprised of only hydrogen, oxygen, […]
In the past few decades, startups have revolutionised how we communicate (Facebook), how we travel (Airbnb), and how we work (Zoom). They’ve also brought with them a new way of thinking about business, and even talking about it – one coloured with optimism. Who wouldn’t want to be part of the “idea economy,” joining a […]
The annual inflation rate hit 7.2% yesterday, a 12-year high. Analysts at Íslandsbanki bank predict that the inflation rate will peak in June at 7.7%.
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