Foreign exchange market
PRESS RELEASE FROM THE CENTRAL BANK OF ICELAND: Because of the unusual circumstances that arose in the Icelandic banks’ operations in October, interba...
Business
Information and news on Business and Finance related issues
‘British offer to guarantee Icesave declined by Iceland Central Bank’
Bjorgolfur Thor Bjorgolfsson, a major shareholder of Landsbanki, said this week that deposits with the collapsed savings brand Icesave could have been...
Actavis steps into the South Korean generics market
The international generic pharmaceuticals company, Actavis has entered into an exclusive distribution agreement with J&M Pharma, a Korean owned an...
Norway refuses to cut oil output
Despite the dramatic decrease in the price of a barrel of oil from its peak near USD 150 a few months ago, Norway has emphatically stated it has no pl...
PM’s Office: The Faroe Islands Come to Iceland’s Aid
PRESS RELEASE FROM THE ICELANDIC PRIME MINISTER’S OFFICE: The Faroe Islands have offered Iceland a loan of DKK 300 million. The offer was put fo...
Norway’s largest bank raided for insider trading
A specialist team from Okokrim, the Norwegian white-collar crime unit, stormed into the headquarters of DnB NOR and arrested two employees on charges ...
Iceland puts up interest rate to 18%
The Central Bank of Iceland has announced that the key interest rate will increase by 6% to 18%. The bank recently lowered the rate by 3.5% from 15.5%...
Economic crisis bogies Sweden’s golf courses
In difficult economic times, luxury items are usually the first things to go. Golf clubs across Sweden are feeling the pinch as duffers keep their iro...