Bank of Albania ‘throws’ 1.4 billion leks in the exchange market

TIRANA, Sept. 7 – During July and August the central Ban of Albania has put some 1.4 billion leks in the money exchange market trying to keep the money flow and inflation under control. It has made operations on unlimited

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Higher railway passenger/cargo traffic in Albania

DURRES, Sept. 4 – Both passenger and cargo traffic of the Albanian railway saw a significant rise in the first half this year, according to the state-run company Hekurudha Shqiptare (HSH). Passenger traffic through June rose by 33.9 percent annually,

Read Full Article

Kukes-Morine ends in 2009, says minister

TIRANA, Sept. 4 – Minister of public affairs, transport and telecommunications Lulzim Basha said Monday that the Durres-Kukes-Morine road would end in 2009. companies have started to work at the Kalimash-Morine segment, which was considered as the most difficult one.

Read Full Article

IFAD funds development of Albanian agriculture

TIRANA, Sept. 7 – The economic parliamentary commission passed Thursday a draft law on the ratification of the loan the government has taken from the International Fund for Agriculture Development (IFAD) that funds a program for the development of the

Read Full Article

Israeli companies want increased trade with Albania

TIRANA, Sept. 4 – Many Israeli companies like Paz Oil Company Ltd., Pazgaz Ltd., Clal Industries and Investments Ltd. (TASE: CII), Ashtrom Properties Ltd. (TASE:ASPR), Bateman Engineering NV (AIM:BTE) , Nesher Cement Enterprises Ltd, Tahal Group, Discount Investment Corporation (TASE:

Read Full Article

Albatros turns into an economic-political fight in the market

TIRANA, Sept. 4 – A telephone call served to suspend flights of the Albatros flying company letting hundreds of Albanian passengers at the airport for several days. A call from a Transport Ministry senior official was enough to suspend Albatros

Read Full Article

Government approves deal on Prespa Lake

TIRANA, Sept. 7 – The government approved an agreement on the integrated management of the eco-system of Prespa Lake in Albania, Macedonia and Greece, that is being carried out in collaboration with the Untied Nations Development Program funding some 3,775

Read Full Article

Fier-Vlora road to start later this year

TIRANA, Sept. 5 – Minister of public affairs, transport and telecommunications Lulzim Basha said Tuesday that the rehabilitation of the 43-kilometer Fier-Vlora road as planned to start at the end of this year. The tender winner is expected to be

Read Full Article

UNDP trains economic experts for commercial policies

TIRANA, Sept. 4 – The United Nations Development Program and the European Commission delegation in Tirana, in collaboration with the Ministry of Economy, Industry and Energy held Monday the closing ceremony of a training course for economic experts on the

Read Full Article

More payment for handicapped persons

TIRANA, Sept. 7 – The government decided to increase the social assistance to the paraplegic invalids to 6,800 leks per month, which is also to be indexed according to inflation. That will be paid to all those persons despite their

Read Full Article
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                    [post_content] => TIRANA, Sept. 7 - During July and August the central Ban of Albania has put some 1.4 billion leks in the money exchange market trying to keep the money flow and inflation under control. It has made operations on unlimited liquidities and those with fixed price, and also through the one-day deposits, according to the bank sources. The amount of 1.4 billion leks was put to the exchange market in July, thus achieving to preserve its operational goals as required from the three-year agreement with the International Monetary Fund. It helps to preserve the inflationist pressure from the money offer. It is well known that during this period there are thousands of Albanian immigrants who come and spend their hard currency.
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                    [post_content] => DURRES, Sept. 4 - Both passenger and cargo traffic of the Albanian railway saw a significant rise in the first half this year, according to the state-run company Hekurudha Shqiptare (HSH). Passenger traffic through June rose by 33.9 percent annually, while cargo traffic increased by 27.7 percent. The company carried 811,600 passengers and 244,200 tones of cargo in the first half of 2006. The company handled 18,022,000 ton-kilometres (tkm) of cargo in the first six months, up 54.6 percent on the year. Reopening of a key railroad section from Durres to Tirana in enabled HSH to increase passenger traffic. It was blocked because of a collapsed bridge for almost the whole first half last year. The railway company served 1.42 million passengers last year, down 18.9 percent. HSH plans to transport 1.8 million passengers this year.
                    [post_title] =>  Higher railway passenger/cargo traffic in Albania 
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                    [post_content] => TIRANA, Sept. 4 - Minister of public affairs, transport and telecommunications Lulzim Basha said Monday that the Durres-Kukes-Morine road would end in 2009. companies have started to work at the Kalimash-Morine segment, which was considered as the most difficult one. The minister said that all seven companies rehabilitating segments in that road have started working. The most difficult part Rreshen-Kalimash is to be reconstructed and built by the U.S. company Bechtel. The government is negotiating with the company and plan to close negotiations during the first two weeks of September. The segment has a long tunnel which will take much time and money to build.
The 115 kilometer long road segment would ask for some 400-500 million euro investment. It will be in most of the part a four-lane highway of EU 2005 standards to allow the transport of passengers from Prizren to Tirana for about two hours and no more than three hours for commerce transport," according to Basha. He considered the Kukes-Morine axis important not only for Albania but also a strategic one for the region.
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                    [post_content] => TIRANA, Sept. 7 - The economic parliamentary commission passed Thursday a draft law on the ratification of the loan the government has taken from the International Fund for Agriculture Development (IFAD) that funds a program for the development of the rural mountainous areas. The project will spend some 5.5 million SDR for projects in such areas in 21 districts. They will be managed from the Agency for the Development of Mountainous Zones and the Fund of Financing the Mountainous Zones. It aims at increasing the income in those areas covering more than half of the country, 55 percent. They will be used in such spheres as livestock, medical plants, horticulture, agro-processing and other non-agricultural economic activities there.
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                    [post_content] => TIRANA, Sept. 4 - Many Israeli companies like Paz Oil Company Ltd., Pazgaz Ltd., Clal Industries and Investments Ltd. (TASE: CII), Ashtrom Properties Ltd. (TASE:ASPR), Bateman Engineering NV (AIM:BTE) , Nesher Cement Enterprises Ltd, Tahal Group, Discount Investment Corporation (TASE: DISI), Tandu Technologies & Security Systems Ltd. and other ones, would like to expand their business in Albania, according to Export Institute chairman David Arzi. Later this week there would be held a meeting between the companies' representatives and Albania's Minister of Economy Trade and Energy Gence Ruli and the head of Albania's investment center, who will present government-backed priority infrastructure projects. 
Exports Institute international projects manager Itzhak Rozen said infrastructure projects in Albania could reach hundreds of millions of dollars. There were many opportunities for Israeli companies in Albania in oil and gas, energy, communications, real estate, agriculture and agroindustry, and transport. Estimates about possible expansion of infrastructure projects in Albania are belied by an 80% drop in Israeli industrial exports, excluding diamonds, in the first half of the year to $590,000. Most exports comprise plastic and rubber products, pharmaceuticals, chemicals and refined oil products. Thirty-one Israeli companies are currently active in Albania, mostly plastic sheeting and piping and refined oil products. The number of Israeli exporters to Albania is down 9% from 2004.
                    [post_title] =>  Israeli companies want increased trade with Albania 
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                    [post_content] => TIRANA, Sept. 4 - A telephone call served to suspend flights of the Albatros flying company letting hundreds of Albanian passengers at the airport for several days. A call from a Transport Ministry senior official was enough to suspend Albatros flights. First it was said that Albatros owned some $400,000 to the government. That was accepted from the company and also said it had started to be paid with installements for two years. A day later it came out Albatros airplanes had many technical problems. A manager of the company Ilir Zeka blamed not only the political background of that decision but also the fact that the rival Belleair company had employed many close family members of the Transport Minister Lulzim Basha. That was immediately turned down by Basha's cabinet. One of the shareholders of Albatros is a nephew of President Alfred Moisiu and many analysts would link the government decision with the news or rumor that Moisiu would not agree with the parliament decision to move Prosecutor-General from his post as the government and Prime Minister Sali Berisha had asked for.
Konfindustria, an association of businessmen, also condemened the suspension saying taht would affect economic, financial and moral goals in the long term. They said that any government internvention should take into consideration the protection of public interests and also of a fair compatition in the market.
If considered from an impartial context one could say that was an uniwse move from the government at a moment when the Prime Minister was offering to foreign and local investors the 'Albania 1 euro' project.
                    [post_title] =>  Albatros turns into an economic-political fight in the market 
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                    [post_content] => TIRANA, Sept. 7 - The government approved an agreement on the integrated management of the eco-system of Prespa Lake in Albania, Macedonia and Greece, that is being carried out in collaboration with the Untied Nations Development Program funding some 3,775 million leks. Albania pays some $120,000 to preserve the flora and fauna in the beautiful nature there.
                    [post_title] =>  Government approves deal on Prespa Lake 
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                    [post_content] => TIRANA, Sept. 5 - Minister of public affairs, transport and telecommunications Lulzim Basha said Tuesday that the rehabilitation of the 43-kilometer Fier-Vlora road as planned to start at the end of this year. The tender winner is expected to be made known in November. This segment has been an important one which would help development of the areas, the businesses that use it for transporting goods from the Vlora port and also tourism.
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                    [post_content] => TIRANA, Sept. 4 - The United Nations Development Program and the European Commission delegation in Tirana, in collaboration with the Ministry of Economy, Industry and Energy held Monday the closing ceremony of a training course for economic experts on the commercial policies, economic and legal aspects of the liberalization of the trade and economic integration. That was the first course of the kind in Albania. 
                    [post_title] =>  UNDP trains economic experts for commercial policies 
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                    [post_content] => TIRANA, Sept. 7 - The government decided to increase the social assistance to the paraplegic invalids to 6,800 leks per month, which is also to be indexed according to inflation. That will be paid to all those persons despite their age and income. The same payment will be received from the person taking care of them. 
                    [post_title] =>  More payment for handicapped persons 
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            [post_content] => TIRANA, Sept. 7 - During July and August the central Ban of Albania has put some 1.4 billion leks in the money exchange market trying to keep the money flow and inflation under control. It has made operations on unlimited liquidities and those with fixed price, and also through the one-day deposits, according to the bank sources. The amount of 1.4 billion leks was put to the exchange market in July, thus achieving to preserve its operational goals as required from the three-year agreement with the International Monetary Fund. It helps to preserve the inflationist pressure from the money offer. It is well known that during this period there are thousands of Albanian immigrants who come and spend their hard currency.
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