Italy to finance 1.65mn euros of rural development
TIRANA, Dec. 22 Italy is to finance a 1.65-million-euro project to support development of businesses in Albania’s northwestern rural areas of Kelmendi and Shkreli.
Residents will be encouraged to open new businesses through soft loans with production, community activities, forest protection, environmental responsibility, agricultural technical assistance, and modern machinery seen likely to receive funding the Gazeta Shqiptare reported.
Since 1992, Italy has supported projects in the Balkan country totaling 600 million euros.
IT services market in SEE region rises 20.5% in 2008
ZAGREB, Dec. 23ؔhe IT services market in eight countries from southeastern Europe (SEE) grew by 20.5% in 2008 to$1.06 billion (744 million euro), market research firm IDC Adriatics said on Wednesday.
The eight countries are: Albania, Bosnia and Herzegovina, Croatia, Kosovo, Macedonia, Montenegro, Serbia and Slovenia. Croatia remained the largest market, accounting for 40% of total spending, followed by Slovenia, with 34.9%, and Serbia, with 14%, IDC said in a statement sent to SeeNews.
Bosnia and Herzegovina, Macedonia, Albania, Kosovo, and Montenegro accounted for the remaining 11.1% of IT services spending in the region in 2008, the statement added.
Bankers Petroleum raises Capex Plan for Albania to $152 million in 2010
TIRANA, Dec. 22anadian oil and gas company Bankers Petroleum said on Tuesday it would raise by 275% its capital expenditure plan for Albania to $152 million (106 million euro) next year.
The company said in a statement it will target an exit production of 15,000 barrels of oil per day (bopd) at the end of the year, up 15% from its previous guidance and 88% more than the projected 2009 exit rate of 8,000 bopd.
“The capital programme will focus on major development activities at the Patos Marinza oil field with minor expenditures at Kucova oil field and the newly acquired Block F exploration acreage in Albania,” the company said.
“With the addition of a second drilling rig in January 2010, as previously announced, this effectively doubles the number of horizontal wells to be drilled in 2010,” it added. Bankers Petroleum plans to drill 52 horizontal wells next year for which it will spend $71 million.
The company’s production as of the middle of November was 7,100 bopd.
Mercator opens first store in Albania
TIRANA, Dec. 22ؓlovenia’s largest food retailer Mercator has opened its first store in Albania as part of its plan for southeast European expansion, Reuters reported.
Mercator plans to invest 120 million euros ($171.8 million) in 2010, down from 159 million this year, Reuters quoted the company as saying in a statement.
The company said 55% of its investment planned for next year would be made outside its home market. Outside Slovenia, Mercator operates stores in Serbia, Croatia, Bosnia, Montenegro and Bulgaria.
The group, which entered Bulgaria earlier this year, plans to enter the markets of Macedonia and Kosovo, Mercator’s Bulgaria-based procurator responsible for finances, IT and investments, Peter Gospodaric, told the media earlier this year.
Yields fall as central bank sells 123.3 million euro in treasury bills
TIRANA, Dec. 21lbania’s central bank said it sold 16.8 billion leks ($176.7 million/123.3 million euro) in six-month and 12-month treasury bills last Tuesday as yields fell.
The central bank, which auctions government securities on behalf of the Finance Ministry, offered and sold 9.0 billion leks in six-month treasury bills, as dealers placed bids worth 10.3 billion leks. The treasury bills produced a weighted average yield of 7.55%, down from 7.62% in the previous auction held on November 17, the Bank of Albania said on its website.
The central bank also sold the entire offer of 7.8 billion leks worth of 12-month treasury bills. The issue was more than twice over subscribed as dealers placed bids worth 18.2 billion leks. Yields dropped to 9.14% from 9.22%in the previous auction held on December 2.
The Bank of Albania has auctioned treasury bills worth 365.22 billion leks since the beginning of this year. It auctioned treasury bills worth 373 billion leks in par value last year, compared to 386.83 billion leks in 2007.
