Earlier this month the largest Faroese bank reported an operating profit of DKK 77m for Q1 2018, an increase of DKK 30m compared to Q1 2017 (+66%). Furthermore, operating costs were down by DKK 1m to DKK 115m, consistent with the efforts to curb expenditure growth.
Faroese restaurant KOKS, widely regarded as the best restaurant in the Faroe Islands, has reached another impressive milestone as it has been ranked in 46th place on OAD´s list of Top 100+ European Restaurants 2018.
The largest salmon producer in the Faroe Islands, Bakkafrost, has announced plans to invest in a new biogas plant in collaboration with other Faroese fish farmers and local dairy farmers, using waste products from fish and dairy farming to produce energy and fertilizer.
Faroese company Ocean Rainforest aims to combat climate change by cleaning the ocean using seaweed. Ocean Rainforest, established in 2007, is one of the few companies in the world that seeds, cultivates and harvests seaweed on a commercial scale in offshore conditions.
The Faroese Airline Pilot Association has no comment regarding a possible strike. Last night, pilots rejected a draft settlement presented to the opposing parties on Monday, because none of their demands had been met, says Johan Vágadal, the chairman of the Airline Pilot Association.