The index for consumer retail prices was 0.66 percent lower in July than it was in the previous month. According to statistics Iceland, this is the greatest reduction between two months since 1986. From July 2009 to July 2010 the increase in the retail index was 4.8 percent. (Statistics

Formal talks on Iceland´s membership in the European Union will start in Brussels today. This was decided at a meeting in Brussels yesterday of the foreign ministers of all the membership states. According to media reports, full-force negotiations are not likely to start until early in 2011 and might

A Canadian company, known as Magma Energy , has recently bought a majority share in HS Orka , an Icelandic company based in SW Iceland and concerned with the harnessing and distribution of geo-thermal energy. Three MPs of the Left-Greens, one of the two coalition parties, have expressed the

As we reported at the time (June 18th and 21st), the Supreme Court of Iceland decided that loans pegged to the exchange rates of foreign currenty were illegal. Ever since the verdict was pronounced, it has been an open question whether the rate of inerest should remain unchanged from