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Iceland's krona is working its magic cure. Well-heeled Japanese tourists – once a rarity – can be seen these days sampling halibut at Reykjavik's Siggi Hall, or buying Gymur jackets at the 66°North store on Bankastraeti. The krona has fallen by half against the euro since the `New Viking' trio of Landsbanki, Glitnir, and Kaupthing strayed out of their depth and brought down Iceland's financial system. Nothing is cheap, but prices have come within reach. Reykjavik's cafés are packed with euro-youth, at last able to afford a taste of all-night dancing at this Arctic Ibiza. Out in Iceland's Eastern fjords,...

Icelandic singer partners with financial services firm to launch sustainable investment fund. The quirky singer and actress Bjork is hunting for investors to inject capital into her economically troubled country, whose financial system collapsed in October. Nominated for 13 Grammy awards, an Oscar and two Golden Globe awards, she has become a venture capitalist, teaming up with Reykjavik-based Audur Capital to raise money to invest in sustainable businesses in Iceland. Fundraising won't commence until January, but Bjork's involvement in the project has triggered such interest that the fund, which carries the 43-year-old singer's name, is expected to raise as much...