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Latest Business News

19 Apr 10 / 14:37:10

New Flood Wave Risk in Northern Albania

Albania’s Power Corporation, KESH, announced that the situation at its hydropower dams in Northern Albania is critical and has forced it to discharge water, despite record electricity production.

16 Apr 10 / 13:25:54

Flights from Balkans to Western Europe Canceled

Many flights scheduled to depart from the Western Balkans and head for western and northern Europe have been canceled due to drifting ash from a volcanic eruption in Iceland.

15 Apr 10 / 12:47:56

Macedonia, Albania Hold Business Forum

As part of the visit to Macedonia of an Albanian state delegation led by President Bamir Topi, a Macedonian-Albanian business forum will be held in Skopje on Thursday.

14 Apr 10 / 11:37:21

Albanian President Visits Macedonia

Albanian President Bamir Topi on Wednesday kicks off his two-day official visit to neighboring Macedonia.

12 Apr 10 / 13:24:45

Albania Economic Slowdown in Final Quarter 2009

Data published by the Albanian National Institute of Statistics, INSTAT, shows that the country experienced a slowdown of economic activity in the last quarter of 2009.

09 Apr 10 / 14:15:01

World Bank Cites Albania Lack of Capacity

Speaking at a press conference in Tirana on Thursday, the head of the World Bank office in Tirana, Camille Nuamah, said that a lack of capacity, management, and approval centralization were delaying World Bank financed projects in Albania.

08 Apr 10 / 14:34:25

Oil Company Sees Albania Production Growth

Bankers Petroleum, a Canadian based oil company, registered a substantial growth in production in the last quarter from its operation in Albania’s oil fields.

07 Apr 10 / 14:31:37

Albania Approves Eurobond Sale

The Albanian government approved on Wednesday the sale of €300 million in Eurobonds.

06 Apr 10 / 13:23:36

Electricity Export Boon for Albania Power Corp

Heavy rainfall during the winter has turned into an export boon for the state-owned Albania Power Corporation, KESH, which relies almost exclusively on hydropower production.

24 Mar 10 / 10:39:33

Albania Sovereign Credit Rating Downgraded

JCR Eurasia Rating, a rating agency based in Istanbul, announced on Tuesday that it had downgraded the long term sovereign rating of Albania by a single notch from double B plus to double B.

17 Mar 10 / 15:15:33

Albania Ordered to Pay $20 Million to GE

A court in the US District of Columbia ordered on Wednesday the enforcement of a $20.6 million (€15 million) judgment against Albania over its annulment of a 2003 contract with GE Transport.

10 Mar 10 / 13:57:40

IMF Calls On Albania to Curb Deficit

While praising the Albania economy fore its resilience to the global economic crises, the International Monetary Fund, IMF, representative in Albania, Gerwin Bell, called on the government on Tuesday to slash the lumping budget deficit.

08 Mar 10 / 16:55:08

Albania's Inflation Rate Jumps in February

Albania’s National Institute of Statistics, INSTAT, announced on Monday that Albania’s inflation rate registered a 1.1 per cent growth in February compared with the previous month, the highest jump in years.

05 Mar 10 / 13:22:24

Retired Albania Submarines Up for Sale

The Albanian government announced on Thursday that it has put up for sale as scrap metal two retired Soviet made submarines –once the glory of its navy fleet.

03 Mar 10 / 15:59:14

Verbund Construction of Albania Power Plant

The Austrian company Verbund announced on Wednesday the start of the construction of a €160 million hydropower plant on the river Drin in Northern Albania.

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Premium

11 Apr 12 / 09:06:41

Albania’s Power Crisis Pinned on Company Errors

Irresponsible exports of electricity by the Power Corporation in 2011 played a key role in fomenting the worst energy crisis in Albania’s modern history.

24 Feb 12 / 11:00:46