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Latest Business News

23 Oct 15

Albania Offers Rewards to Tax Fraud Spies

Albania is setting up a fund to reward citizens who report on fiscal evasion as part of the government campaign against the informal, cash economy.

14 Sep 15

Albania Oil Company Seeks Tax Dispute Mediation

The main petroleum extraction company in Albania is hoping that an independent auditor will help to resolve a tax bill of $57 million (50 million euros).

09 Sep 15

Albania Power Plant Approval Angers Greens

Breaking his promise to not allow any new hydropower plants on the Vjosa River, Albania's Prime Minister has approved a Turkish company's request for a concession, angering environmentalists.

02 Sep 15

Auditors Query Albania Electricity Firm's Data

The refusal of independent auditors to give a verdict on the accuracy of the financial statements of the electricity distributor has shed light on the poor state of bookkeeping in Albania's state-run companies.

01 Sep 15

Albania PM Declares 'War' on Fiscal Evasion

Under pressure from the IMF over falling fiscal revenues, Prime Minister Rama has pledged to engage 600 teams to fight the widespread evasion of the use of receipts for goods - although many see the threat as empty.

31 Aug 15

Europe to Fund Balkan Transport, Energy Projects

Following the Vienna summit, the Western Balkans has been promised 200 million euro in co-financing for 10 transport and energy projects, to improve growth and energy security.

10 Aug 15

Albania Plan to Raise Taxes Causes Outrage

The Ministry of Finance shelved a draft law that was to introduce taxes on low wage-earners after strong criticism from the media and from some of the ruling coalition's MPs.

05 Aug 15

Albanian Government Cuts State Budget

The Albanian government used emergency measures to cut its expenditures by four per cent for this year to keep its budget deficit unchanged despite disappointing revenues.

03 Aug 15

IMF Mulls Suspending Agreement with Albania

IMF representative Jens Reinke said Albanian state budget revenues are well below target and suggested further tax hikes, while the government promised a crackdown on tax evasion.

24 Jul 15

Private Electricity Production Booms in Albania

The annual report from the regulator shows that private electricity production reached a peak over the past year, with private companies now producing a fifth of the country's electricity.

06 Jul 15

Balkan States Weigh Impact of Greece’s ‘No’

Officials in the Balkans are weighing up the potential impact of the Greek referendum result on their countries amid warnings that a deepening of the crisis could damage economies in the region.

01 Jul 15

IMF Says Greek Crisis Will Not Affect Albania

The head of the IMF in Albania, Nadeem Ilhahi, on Tuesday said that the banking sector in Albania faces few risks as a result of the worsening Greek debt crisis.

15 May 15

Smugglers Evade Higher Taxes in Albania

Albania is trying to curb smuggling in cigarettes and fuel after higher taxes appear to have caused an alarming increase in smuggling rather than higher government revenue.

04 May 15

Albanians Work Longer for Less Pay, Survey Says

The average employee in Albania works 2,100 hours per year but is paid less than the average worker in Bulgaria and Macedonia, Europe’s next worst-paid nations, a new survey says.

30 Apr 15

Missed Targets Leave Hole in Albanian Budget

Deputy Finance Minister Irena Beqiraj has confirmed that government revenues are not meeting expectations, which may mean budget cuts later this year.

Politics and Society

25 Nov 15

Albania MPs to Vote on ‘Decriminalising Politics’

Draft law barring people with criminal convictions from holding public office will go before parliament after main parties agree to constitutional reform.

Culture and Lifestyle

02 Nov 15

Festival Brings European Authors to Tirana

The ‘White Sea’ festival has brought writers from all over the continent to Albania, where few people are familiar with the literature of their nearest neighbours.