Iceland News
Iceland hikes interest rate, seeks more funds
Reykjavík :: Iceland | about 1 month ago | Business News
Source: Kansas City Star
Sweden, Finland, Norway and Denmark. "I don't want to mention the figures because I do not want to put pressure on them," Haarde told The Associated Press on the sidelines of a Nordic Council meeting in Finland. Earlier talks with...
16 news stories / 3 blog posts / 6 images / 14 videos / 0 voices
Iceland close to securing IMF rescue
Reykjavík :: Iceland | about 1 month ago | Business News
Source: United Press International
The Icelandic government is close to announcing critical backing from the International Monetary Fund, sources said Monday. The rescue package is said to be $6 billion, including contributions from Iceland's Nordic neighbors, Japan and about $1 billion from the IMF,...
12 news stories / 18 blog posts / 11 images / 12 videos / 0 voices
Iceland asks for $2bn in IMF help
Reykjavík :: Iceland | about 1 month ago | Business News
Source: BBC
It is the first Western country to have made an approach to the IMF for such help since 1976. If approved, it will have immediate access to $860m, Iceland said. Iceland's financial system is close to collapse after the country...
11 news stories / 27 blog posts / 12 images / 28 videos / 0 voices
Aflac 3Q profit plunges but tops expectations
Reykjavík :: Iceland | about 1 month ago | Business News
Source: International Business Times
Net income in the third quarter dropped to $100 million, or 21 cents per share, from $420 million, or 85 cents per share, in the year-ago period. The latest quarter included investment losses of $389 million, or 81 cents per...
6 news stories / 0 blog posts / 1 image / 14 videos / 0 voices
Playing the blame game
Reykjavík :: Iceland | about 1 month ago | Business News
Source: Japan Times
The financial crisis has attracted an assortment of accusations including those of irresponsibility, negligence, mendacity and greed. The targets of criticism range from politicians, central bankers, financial regulators, retail bankers, mortgage providers and managers of hedge funds to...
5 news stories / 4 blog posts / 3 images / 11 videos / 0 voices
Iceland, mired in debt, blames Britain
Reykjavík :: Iceland | about 1 month ago | Business News
Source: International Herald Tribune
No one disputes that the economic troubles of Iceland are largely the country's fault. But there may be more to the story, at least in the view of Icelandic government, its citizens and even some outsiders...The troubles between the countries...
4 news stories / 0 blog posts / 3 images / 5 videos / 0 voices
Iceland to receive $6 billion loan
Reykjavík :: Iceland | 27 days ago | Business News
Source: Sydney Morning Herald
We foresee that the consortium will send to Iceland a total of $US6 billion in aid." It listed Poland's contribution at $US200 million and said the loan's conditions will be established through negotiations between Iceland and the IMF. Iceland has...
5 news stories / 7 blog posts / 4 images / 17 videos / 0 voices
Rating firm downgrades Icelandic sovereign
Reykjavík :: Iceland | about 1 month ago | Business News
Source: United Press International
Economic research firm Global Insight downgraded Iceland's currency rating Friday, citing increased concern over the country's economic stability. "With the potential of the high external liabilities of the nationalized banks staring to show as a heavy burden on the sovereign's...
4 news stories / 4 blog posts / 8 images / 8 videos / 0 voices
Oxford University faces £30m Icelandic bank losses
Reykjavík :: Iceland | about 1 month ago | Business News
Source: The independent
Oxford University could face losses of up to £30 million which is tied up in Icelandic bank accounts, a spokesman confirmed today. The university has admitted 5% of its cash deposits are invested in three banks and has now called...
4 news stories / 6 blog posts / 11 images / 15 videos / 0 voices
UK seeks Iceland compensation
Reykjavík :: Iceland | about 1 month ago | Business News
Source: ITN
UK officials are heading to Iceland in a bid to get compensation for people who lost savings in collapsed Icelandic banks. The visit, by members of the Treasury and Bank of England, follows talks between the UK and the Icelandic...
3 news stories / 2 blog posts / 5 images / 9 videos / 0 voices
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