Archive for March, 2006

March 31, 2006

The Icelandic Economy

It has been very interesting couple of weeks in Iceland. There has been a lot of talk in the media about the Icelandic Banks and almost everyone predicting a certain doom to the growing economy. All this media attention has made me start asking why is there such a focus on Iceland? I dont´know the answer to that question, but some have even gone to the extent of saying it is a danish consipiracy to bring down the Icelandic growth engine :), which is it young entreuprenuers who have been buying up businesses in other countries.
It is imperative for any business in Iceland to start thinking global, given the small size of the local market. If I had to put a theory around this, I would say the biggest export out of Iceland is “Business Boldness”. Icelanders are very bold when it comes to taking over challenges and running businesses and that is the reason for such an exploding economy.
The central bank raised the interest rate by 0.75% to 11.5% to cut the inflation growth which stands at about 4.5%. The media has been intrepreting this as a sign of panic by the central bank. I don´t know the reason behind the move now, but I think it should have been done at the beginning of the year.

March 27, 2006

Played Chess with Garry Kasparov

My bank held a conference for CEOs and one of the guest speakers was Garry Kasparov. I had the opportunity and pleasure of playing chess with the greatest chess player and I was pretty impressed with myself that I was the 16th to fold in a group of 20… And for a brief moment I thought I actually got him trapped :)

March 22, 2006

Íslandsbanki to Glitnir

The bank I work for changed its name from Íslandsbanki hf. to Glitnir. A lot of debate about the name in the small country of Iceland. But I like the name and means something in Norse mythology, I guess I like what it stands for… A place of peaceful and sustainable solution.

March 22, 2006

Charlton Heston´s speech… very inspirational

I got a chance to read the speech delivered by Charlton Heston to Harvard Graduates. It was very inspirational, I think political correctness and what you can and cannot say has become too much of a popular culture. Read the article to see what he means.

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