Nordic Innovation is a free, online magazine showcasing all areas of innovation in the Nordic region. The third issue of the magazine has just been released and its over-60 pages are filled with useful and interesting information. Read the full story

Cairn Energy has yet again failed to find oil or gas at its wells in Greenland. The Scottish exploration company’s shares fell one percent on the announcement that another two dry wells are to be plugged and abandoned. Read the full story

The Nordic countries remain some of the least corrupt in the world, according to a new report from Transparency International — but Iceland has slipped further behind its neighbours. Read the full story

The owner of the largest plot of land at Grímsstaðir á Fjöllum in northeast Iceland, says that it could very well be possible to rent the land to Chinese investor Huang Nubo to build a luxury resort. The Icelandic government denied Mr. Huang permission to buy the land — a move he criticised vocally as Western bias against China. Read the full story

The undersea cable which Emerald Networks intends to lay between Ireland and the USA, with a connection to Iceland, will help Iceland create jobs in the creative sector and support environmentally friendly business, according to the company’s Icelandic rep, Þorvaldur Sigurðsson. Read the full story

Finnish-German telecoms giant Nokia Siemens has surprised the business world by announcing 17,000 job cuts, representing a very-significant 23 percent of its workforce. Read the full story

A group of key owners in Icelandic retail giant Hagar have made a deal with Arion Banki to keep a share of the business, despite its having been insolvent and taken over by the bank. Read the full story

Karl Wernersson, the controversial Icelandic investor and former majority owner of the holding company Milestone, has completed a debt review with Islandsbanki and will in all likelihood be allowed to keep his Lyf og Heilsa chain of pharmacies — to the dismay of many. Read the full story

The biggest company in Iceland by turnover at the end of last year was Bakkavor Group, according to a new list of the 300 biggest companies in the country by business magazine Fjals Verslun. The three biggest companies were the same three as the year before. Read the full story

The owner of a north Iceland hardware store is bringing charges against Landsbanki bank for theft. Read the full story