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Latest Business News

14 Apr 14

Standard and Poor’s Upgrades Albania’s Debt Rating

Following Tirana’s agreement with the International Monetary Fund, the credit rating agency has upgraded Albania’s sovereign debt rating from ‘negative’ to ‘stable’.

09 Apr 14

Albania Oil Company to Electrify Its Wells

The electrification of oil wells is one of the cost-cutting infrastructure investments planned by Bankers Petroleum in its Patos-Marinza heavy oil field in Albania in 2014.

08 Apr 14

Albania Registers Slight Upturn in Late 2013

After a steep fall in the third quarter of 2013, Albania's economy saw modest growth in the last three months of the year, data from the national statistics institute, INSTAT, show.

20 Mar 14

IMF Urges Albania to Raise Taxes and Pension Age

The International Monetary Fund has urged Tirana to undertake drastic structural and fiscal reforms to consolidate its finances amid sluggish economic growth.

10 Mar 14

Albania Strips 121 Mining Companies of Licenses

The ministry of energy and industry on Friday revoked 121 mining companies of their licenses after a major audit found that they were not operating in accordance with the law.

04 Mar 14

Albania Govt Claims Spike in Tax Revenue

The new heads of Albania’s customs and tax offices have announced increased collection rates in February 2014 compared with the previous year.

04 Feb 14

More Tax Fraudsters Exposed in Albania

Two businessmen have been arrested and warrants have been issued for five others following the discovery of a tax fraud scheme that cost the state about a million US dollars.

03 Feb 14

Vodafone Spared Fine in Albania Anti-Trust Probe

A probe by Albania’s Competition Authority, CAA, has come short of finding that Vodafone abused its dominant position in the local mobile communications market.

15 Jan 14

Macedonia Tops Balkan Economic Freedom List

The latest Index of Economic Freedom has put Macedonia at the top of the Balkan region in terms of economic freedom.

14 Jan 14

Albania Cracks Down on Electricity Theft

Prime Minister Edi Rama has assembled a new taskforce to curb rampant electricity theft, insisting that the state will no longer turn a blind eye to power thieves.

09 Jan 14

Albanian Economy Faltered in Late 2013

Data published the National Institute of Statistics, INSTAT, show that Albania’s economy in the third quarter of 2013 fell by 2.26 per cent compared to the same period in 2012.

18 Dec 13

Albania Seeks $1bn Loan to Cover Deficit

Finance Minister Shkelqim Cani on Tuesday said the government was negotiating with the IMF and World Bank for loan of $1 billion (€726.5 million) to cover its budget deficit.

16 Dec 13

Vodafone Albania Awaits Antitrust Ruling

Albania’s Competition Authority is due to issue a verdict on whether Vodafone Albania, the country’s largest mobile operator, abused its dominant position in the market.

10 Dec 13

Balkan Economies Recovering, World Bank

The South East Europe region exited recession in the first half of 2013, led by strong growth in exports, a report by the World Bank presented on Monday in Tirana says.

21 Nov 13

Oil Giant Threatens to Sue Albania Over Fine

After the customs office fined Bankers Petroleum 69 million lek (€492,000), the company said it may sue Albania for the damage inflicted on its corporate image.

Politics and Society

17 Apr 14

Albanian Agency Turns NGO Funding Into Family Affair

Former board members and staff of the state agency established to support the civil society sector funded their own NGOs, or those headed by relatives, an investigation can reveal.

Culture and Lifestyle

14 Mar 14

Cafe Gives Young Disabled Albanians Start in Life

E Jona café, a new initiative funded by the Yunus Social Business Fund, is providing work and social inclusion for young people with disabilities.