The Althingi has approved amendments to the Value-Added Tax Act that will put Iceland's data storage industry on the same footing as other European data storage centres regarding VAT on exported services and equipment owned by clients. The Minister of Industry, Energy and Tourism, Katrín Júlíusdóttir, described this as an important development, and said when the bill was passed that it marked the beginning of a promising new green industry for Iceland, based on know-how, skills and sustainable energy. 

Icelandic firm Carbon Recycling International is starting construction at its demonstration plant for producing methanol from CO2 emissions of the Svartsengi geothermal power plant by HS Orka in Iceland. ThinkGeoEnergy had reported about this exciting project in Iceland before, but now it becomes a reality. The company Carbon Recycling International, is going to build a plant that will turn CO2 emissions from a nearby geothermal power plant to produce methanol.

Iceland´s negotiation committee introduced in Reykjavík, Thursday 8. December, it´s summary on the outcome of the recent discussions on Icesave in London with British and Dutch committees on the matter.

Mar Gudmundsson, the governor of the Central Bank of Iceland, gave a speech at a breakfast meeting of the Icelandic Chamber of Commerce 5 November 2010, on the economic situation and outlook and monetary policy.

In Bloomberg Businessweek released an atricle today hailing Iceland as one of the safest countries to invest in according to a recent study done by the risk-management adviser Maplecroft.

The Icelandic Ministry of Industry, Energy and Tourism proposed a new bill of law that has recently been passed for investments in Iceland. The ‘Incentives for Initial Investment in Iceland’ bill is directed towards promoting initial investment in commercial operations, the competitiveness of Iceland and regional development by specifying what incentives are permitted in respect of new investments in Iceland and how they should be used.

According to the weather forecast ash might temporarily affect air travel to Keflavik international airport later today, May 8th. But there are four international airports in Iceland, and if one needs to close down, air traffic can be directed to the others. Passengers are asked to follow closely the websites listed below for latest information.

Iceland received flying marks in the Global Innovation Index 2009 - 10 published by INSEAD Business School and the Confederation of Indian Industries, topping the list of 132 countries.

Iceland ranks first among 163 countries in an Environmental Performance Index produced by environmental experts from Yale University and Columbia University. The Index was published on 28 January at the annual World Economic Forum in Davos, Switzerland. The Environmental Performance Index has been compiled every two years since its inception in 2006. According to the findings, Iceland’s top ranking derives from its high scores on environmental public health, controlling greenhouse gas emission, renewable energy production and reforestation. Other top performers include Switzerland, Costa Rica, Sweden, and Norway. EU countries also placed high in the rankings. More than 20 EU countries outranked the United States, which dropped to 61st place. The findings also reveal that income and economic conditions strongly influence country rankings. The bottom five countries include Togo, Angola, Mauritania, the Central African Republic and Sierra Leone - impoverished countries that lack basic environmental amenities and policy capacity. China and India rank 121st and 123rd respectively, a reflection on the strain rapid economic growth imposes on the environment. As a rule, income levels are a major determinant of environmental success. However, some countries achieve results that exceed what would be anticipated, demonstrating that policy choices also affect performance. For example, Chile, where substantial investments in environmental protection have been made, ranks 16th, while its neighbour, Argentina, which has done much less to improve its pollution control and natural resource management, lags in 70th place.

On January 5th, the President of Iceland decided to refer to a general referendum an amendment of the laws authorizing a state guarantee for the repayment of loans from the Governments of the United Kingdom and the Netherlands to the Depositors’ and Investors’ Guarantee Fund of Iceland. The content and consequences of this decision have in some cases been misinterpreted in the international press. The Ministry of Industry therefore wants to highlight the following facts.