On January 1st 2007 the income tax on individuals in Iceland is reduced by 1%, the allowed tax deduction is raised and VAT on food, restaurant services, books, magazines and music is lowered.

Sustainable geothermal energy replaced coal in Xian Yang on december 3rd 2006 when ENEX-China formally opened phase I of the district heating system. The Icelandic Minister for Foreign Affairs, Mrs. Valgerdur Sverrisdottir, said she was extremely proud to note that Icelandic knowledge was contributing to keeping Chinese households warm and develop pollution-free and sustainable energy resources.

Hydro has opened a North Atlantic office in Reykjavik to support its strategy of repositioning and growth in its primary aluminium activities and mature new business opportunities.