Albania sees unprecedented tourism boom ahead of high season  

Albania sees unprecedented tourism boom ahead of high season  

TIRANA, May 29, 2023 – If you are noticing a far larger number of foreign visitors around Tirana these days, you are not alone: Albania is seeing a record number this spring and is set to have the busiest tourism

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OTP Bank Albania: Establishing a firm foundation to serve Albania’s dynamic economy and society 

OTP Bank Albania: Establishing a firm foundation to serve Albania’s dynamic economy and society 

Hungary’s largest OTP Bank Group entered Albania’s market four years ago, and its subsidiary OTP Bank Albania has recently grown further through a merger, positioning itself to to serve a greater portion of Albania’s economy, which it sees as a

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Bank of Albania keeps key rate unchanged as record strength of local currency helps curb inflation, puzzling experts

Bank of Albania keeps key rate unchanged as record strength of local currency helps curb inflation, puzzling experts

TIRANA, May 4, 2023 – Albania’s central bank announced Wednesday it is keeping its key interest rate unchanged at 3 percent with global trends and a strong local currency taking the edge off domestic inflation and thus making rate increases

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Albania and region need to diversify renewable sources to have energy security, experts say

Albania and region need to diversify renewable sources to have energy security, experts say

TIRANA, April 28, 2023 – Albania needs to diversify its investments in renewable energy beyond weather-dependent hydroelectric generation to ensure its energy security, according to experts at a forum organized by the Albanian Institute for International Studies.  The event, part

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Albanian currency’s record strength against euro has winners and losers tally outcomes

Albanian currency’s record strength against euro has winners and losers tally outcomes

TIRANA, April 26, 2023 – Albania’s currency, the lek (ALL) is seeing unprecedented strength against the common European currency (EUR) this week, part of a trend with all major foreign currencies.  The ALL-EUR exchange rate is closely watched in Albania

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What do Albania’s upcoming municipal elections mean for foreign investors?

What do Albania’s upcoming municipal elections mean for foreign investors?

NEWS ANALYSIS TIRANA, April 19, 2023 – Albania’s political parties have started campaigning across the country for the upcoming May 14 municipal elections, which will determine the mayors and municipal council members of Albania’s 61 municipalities.  By their very nature,

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Faced with corruption and unpredictable tax system, top business associations demand comprehensive reforms

Faced with corruption and unpredictable tax system, top business associations demand comprehensive reforms

TIRANA, April 12, 2023 – Doing business in Albania is hard as the economic “environment is inefficient and requires significant improvement,” five chambers of commerce in Albania, including those representing American, German, French and Italian investors said in a joint

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Concerns raised as Tirana mulls exiting ICSID over Becchetti affair €120-million judgement

Concerns raised as Tirana mulls exiting ICSID over Becchetti affair €120-million judgement

TIRANA, April 11, 2023 – With Albania’s government losing its final appeal to reverse a €120-million penalty in the Francesco Becchetti affair case earlier this month, Tirana is mulling exiting the jurisdiction of the international arbitration court that issued the

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PM pitches large public sector wage increases, leading to concern over costs, political use 

PM pitches large public sector wage increases, leading to concern over costs, political use 

TIRANA, April 8 – Albania’s government is preparing to approve large wage increases in the public sector that could lead to the average salary going up 60 percent by 2024, Prime Minister Edi Rama has announced.  According to the government,

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Through regional networking, Western Balkans businesses are preparing for the European Union market

Through regional networking, Western Balkans businesses are preparing for the European Union market

By DEJAN AZESKI SKOPJE, March 31, 2023 – Improving infrastructure, solving barriers that exist to speed up the flow of goods and services, establishing a joint airline that will connect the region, solving the issue of certification bodies and documents are

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