Lögberg-Heimskringla - 01.02.2012, Blaðsíða 15

Visit us on the web at http://www.lh-inc.ca
Lögberg-Heimskringla • 1. febrúar 2012 • 15
Solution:
E R A E L V I S B P M
D O N T M E A N T L A T E
A L T O B A T T Y E L A N
M O I S T E N O L D N E S S
S H R E D E A T
A S E A D A T M I C A
S T U D I O M S G L O N G
E A R S N A P P E D A G E
C L E F E K E L I T T L E
E R I C A S K E R I E
L O O T I N G E
A L A M O D E L E O N I N E
L O V E O V A L S C R O P
I C E D R I V E T H I D E
F O R S L E D S S E E
CROSSWORD ANSWERS
Phrase: Eigi skal lengi lítils biðja
Translation: Don’t ask long for little
Canada Iceland Foundation Inc. awards scholarships
The Canada Iceland Foundation
is an organization
funded by Canadians
of Icelandic descent,
dedicated to the
preservation of their
cultural heritage.
The 2011
scholarships were
awared to these
recipients.
Photos of all recipients
were not available)
1. Heiðmar Bjornson Memorial Scholarship $500
Becky Forsythe presently in Iceland
2. The Canada Iceland Foundation Scholarship $500
Christine Ackerley, Whitby, ON
3. Einar Pall & Ingibjorg Jonsson Memorial Scholarship $500
Jared Fridfinnson, Winnipeg, MB
4. Emilia Palmason Student Aid Award $500
Stefan Waples, Calgary, AB
5. The Gunnar Simundsson Memorial Scholarship $500
Devon Watkins, Winnipeg, MB
6. Thorvaldson Scholarship $500
Carly Welham, Gimli, MB
7. Arnold W. Holm Scholarship $500
Lauren Hjalmarson, London, ON
8. The Lorna and Terry Tergesen Scholarship $500
Theresa Thordarson, Brandon, MB
9. The Margret Bjarnason Scholarships $500
Desiree Sigurdson, Winnipeg, MB
10. The Judge Walter J. Lindal Memorial Scholarship $1,000
Michael Barkman, Winnipeg, MB
11. The David Franklin, Ad. E. Scholarship $500
Sean Yokoyama, Oakville, ON
Pension funds’ foreign assets
eroded
visir.is – According to a
recent edition of Íslandsbanki’s
Morning Bulletin, pension
funds’ foreign assets shrank
in August by nearly ISK 35
billion (US$ 277.8M), which is
7%. Foreign assets’ percentage
of the funds’ total assets has not
been lower in over six years.
The funds’ total net assets for
payment of pensions in August
were ISK 24 billion (US$
190.5M). At the end of that
month, net assets totalled ISK
2019 billion (US$ 16B). The
funds are still suffering from the
banking collapse. August was
an atrocious month on foreign
stock markets. This is the main
explanation for the shrinkage in
pension funds’ foreign assets
since most of them are tied up
in foreign mutual funds. The
S&P 500 Index fell by over
6% during the month, and
the Euro- Stoxx Index for the
same period dropped nearly
13%. In addition, the króna
strengthened in August by
1.5%, which of course erodes
the króna figures for the foreign
asset balance. Pension funds’
foreign assets at the end of
August totalled ISK 454 billion
(US$ 3.6B), corresponding to
22.5% of the funds’ net assets.
This proportion has dropped
steadily since the first part of
2010. It has not been lower
since the spring of 2005. The
above trend in foreign markets
continued in September. In
addition, the króna grew
slightly stronger. Thus, it can be
assumed that the funds’ foreign
assets continued to contract
last month. According to the
Morning Bulletin, this trend
will probably substantially
affect the funds’ desire to sell
their foreign assets in exchange
for State bonds in krónur in
the Central Bank’s offerings
especially since there is no
certainty on when the currency
restrictions will be lifted
sufficiently for them to resume
increasing their foreign assets.
2011 is biggest tourism year in
history
visir.is – Last year was the
biggest tourism year in Iceland’s
history, and this was apparent
since the figures for October
became available. 541,000
foreign tourists departed from
Iceland via Leifur Eiriksson
International Air Terminal
in 2011, compared with over
459,000 the year before. This
was discussed in Íslandsbanki’s
Morning Bulletin. Last
December about 21,000
foreign tourists left from Leifur
Eiriksson, over 11% more than in
the same month the year before.
Like November, December
was not a record month since
the number of foreign tourists
had twice exceeded the current
amount for December, i.e., in
2007 and 2008. In 2003 the
number of foreign tourists
going through Leifur Eiriksson
was 309,000. The current year
showed an increase of over 75%
over 2003. This is equivalent to
an average increase of 7.3% per
year for the past eight years.
Reprinted with permission
from INB published KOM PR
Gimli
Selkirk
Betel Home Foundation will continue to be a leader
and innovator in providing the highest quality of life for
each individual in our care. Betel Home Foundation
is an integral part of the community recognizing our
Icelandic roots and respecting others cultures.
Betel Home Foundation
G I M L I 96-1st Avenue • 204-642-5556 s E L k I R k 212 MAnchester Avenue • 204-482-4651
Tax receipts available
for donations of either
money or stock.
News from Iceland
Stefan WaplesLauren Hjalmarson
Jared FridfinnsonChristine Ackerley Desiree Sigurdson