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Prosecutors in Tirana have launched an investigation into the failed privatization bid for Albania’s state-owned oil company, Albpetrol.
Although only two investment funds operate in Albania, they have seen exponential growth in the first months of 2013, data from the Financial Supervisory Authority, AMF, say.
Ahead of general elections due on June 23, government spending in the first four months of 2013 has risen sharply.
Prime Minister Sali Berisha on Sunday asked Azerbaijan's President, Ilham Aliyev, to support construction of the Trans-Adriatic gas pipeline, TAP.
After Pristina blocked imports of milk from two Albanian dairies, Tirana has responded by banning imports of flour from Kosovo, as the commercial row over toxins in food deepens.
The organisation Global Financial Integrity has ranked Serbia worst of all Balkan countries when it comes to illegal financial flows.
The annual report of the High State Audit office says poor management of state-owned companies cost Albania twice as much in 2012 as it did the previous year.
Albanian minsters say Kosovo is making use of consumer worries about levels of aflatoxin in milk to damage the commercial interest of Albanian dairies.
The Socialist opposition said it seeks a hearing with the minister of agriculture on the presence of dangerous toxins and hormones in Albanian milk and meat products.
After Albanian authorities told dairies to withdraw milk suspected of contamination with the M1 aflatoxin from the market, it is still on sale in stores, Balkan Insight can confirm.
Bulgaria could become the second country in the region to oust the Czech electricity company CEZ, after violent protests against hefty electricity bills led to the PM's resignation.
The central bank cut the key benchmark interest rate on Wednesday by 0.25 per cent to a historic low of 3.75 per cent in an effort to kick start the stagnating economy.
The Albanian energy regularity agency, ERE, on Monday stripped the local subsidiary of the Czech power giant CEZ of its operating license, effectively taking it back into state control.
Macedonia tops the region in the 2013 Index of Economic Freedom, annually compiled by The Wall Street Journal and The Heritage Foundation.
Bankers Petroleum announced that its production of crude oil from Albania rose by 3.5 per cent in the last quarter of 2012.
Albania has accused the power giant, CEZ, of causing a loss of $1 billion (€760 million) as a result of its poor management of a local electricity distribution branch.
The Albanian real estate market first caught the eye of foreign investors back in 2005. The first deals were struck in subsequent years and their volume has been on the rise ever since.
Albania faces another year of sluggish growth as foreign investors shy away, domestic consumers keep savings in the bank and recession deepens in neighbouring Greece and Italy.
The timing of a decision to award former US Defense Secretary Donald Rumsfeld a ‘National Flag’ for his support of Albania’s NATO membership has raised questions.
Donors spent hundreds of thousands of euro building a new museum in Gjirokastra - but the results were questionable and it ultimately closed over an ideological dispute.