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World Business Report: First broadcast 2017/03/13 01:06 GMT: Iceland Lifts Capital Controls

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First broadcast 2017/03/13 01:06 GMT

First broadcast 2017/03/13 01:06 GMT: Iceland Lifts Capital Controls

Iceland Lifts Capital Controls

BBC World Service - World Business Report, Iceland Lifts Capital Controls

Nine years after the financial crash, restrictions are to be lifted on Tuesday.

The Minister of Finance says the króna could become pegged to the Euro.

The new Icelandic Government is lifting capital controls which have been in place since the financial crisis of 2008. The Finance Minister says that the country is looking into the possibility of pegging the króna to a foreign currency, potentially the euro, to further protect the economy from exchange rate fluctuations.

Narendra Modi's party has won a landslide victory in one of India's key states, a boost for the prime minister halfway through his first term. The Bharatiya Janata Party took control of northern Uttar Pradesh state - India's most populous - with the biggest majority there since 1980. The victory will allow Modi to press ahead with controversial labour and farming reforms.

Our regular commentator Michael Hughes looks ahead to interest rate decisions in the US and UK this week.

And the Catholic Church tells a technology conference in Texas that it wants to see artificial intelligence act with compassion and forgiveness. 

(Photo: An Icelandic flag flies over the Myrdalsjokull glacier. Credit: EMMANUEL DUNAND/AFP/Getty Images)

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First broadcast 2017/03/13 01:06 GMT: Iceland Lifts Capital Controls

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