Founded in 1786, Reykjavik is the world’s northernmost capital of a sovereign state, and the heart of Iceland’s cultural, economic and governmental activity. The location of Icelands’ first permanent settlements, Reykjavik dates back to AD 874+/-2 when Ingólfur Arnarson sailed in from Norway. Reykjavik, which loosely translates to Smoky Bay, is said to have been inspired by the billowing steam plumes from the many hot springs in the region. Today, powered by its’ renewable geothermal- and hydropower energy resources, Reykjavik is green, clean, and amongst the safest cities in the world. Located on the south-west shore of Faxaflói bay at 64°08′ latitude, Reykjavik has a sub-polar oceanic climate, yet temperatures very rarely drop below −15 °C (5 °F) in winter, because the Icelandic coastal weather is moderated by the North Atlantic Sea Current, an extension of the Gulf Stream. Foreign-born individuals make up around 10% of its’ total population of 200,000 +/- with inhabitants of ca 100 different nationalities making Reykjavik their home today. The city’s coastal location makes it prone to wind and gales are common in winter. Cool summers rule with temperatures fluctuating between 10 and 15 °C (50 and 59 °F), rarely exceeding 20 °C (68 °F). Reykjavik receives around 1,300 annual hours of sunshine, comparable with other places in Northern and North-Eastern Europe. Highest recorded temperature in Reykjavík is 25.7 °C (78 °F), recorded on July 30, 2008, whith the lowest ever recorded temperature at −19.7 °C (−3 °F), recorded on January 30, 1971. Public transportation consists of a bus system, which runs through the city outskirts and connects the city to the rest of Iceland.