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L - N
Wed Apr 14 2010, 10:45am
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Joined: Wed Sep 12 2007, 10:00am

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Albanian Economy

EU-Albania relations

Published: 23 April 2010 | Updated: 26 April 2010




Albania formally applied for EU membership in April 2009, but if its accession bid is to move forward it must tackle a number of issues: particularly political stability, economic reform and corruption.

Milestones

1992: EU and Albania sign Trade and Cooperation Agreement. Albania becomes eligible for funding under the EU's pre-accession PHARE programme.
1993: Opening of first EU delegation in Tirana.
1999: EU proposes new Stabilisation and Association Process (SAP) for five countries in South Eastern Europe, including Albania.
June 2000: Feira European Council states that all SAP countries are 'potential candidates' for EU membership.
Nov. 2000: Zagreb summit starts SAP for Albania.
Jan. 2003: Negotiations on Stabilisation and Association Agreement (SAA) between EU and Albania officially launched.
June 2003: Thessaloniki Summit confirms that SAP countries may join EU once they are ready for membership.
June 2004: Council adopts first European Partnership for Albania.
June 2006: Signature of the SAA.
Jan. 2008: EU visa facilitation agreement with Albania enters into force.
Jun. 2008: Commission presents roadmap identifying specific requirements for visa liberalisation.
1 Apr. 2009: SAA enters into force.
1 Apr. 2009: Albania becomes official member of NATO.
28 Apr. 2009: Albania submits application for EU membership

Policy Summary
After World War Two, Albania became a communist state allied with the Soviet Union and then China, before pursuing its own form of autarchic socialism under the dictatorship of Enver Hoxha.

Under Hoxha, Albania became one of the most economically underdeveloped countries in the world. In the early 1990s, a multiparty democracy was established – replacing decades of isolationist communist rule.

Albania is bordered by Montenegro and Kosovo to the north, the Former Yugoslav Republic of Macedonia to the east and Greece to the south. It has a coastline on the Adriatic Sea.

Ethnically, Albania is largely homogenous – over 95% of its 3.6 million inhabitants are ethnic Albanians. According to estimates, roughly 70% of the population is Muslim, 20% Albanian Orthodox and 10% Roman Catholic. The average age in Albania is just 29.

Despite undergoing a radical transformation since the communist era, Albania remains a very poor country. A recent Eurostat survey places it at the very bottom of Europe in terms of Gross Domestic Product (GDP).

EU relations since 1990

In 1992, Albania became eligible for funding through PHARE, the EU's main financial instrument to assist Central and Eastern European countries in the run-up to the 2004 enlargement. In 2001, CARDS replaced PHARE for the Western Balkan countries.

Since 2007, Albania has been receiving EU financial aid under the Instrument for Pre-Accession Assistance (IPA) for transition assistance, institution building and cross-border cooperation. IPA aid for 2008-2010 totals €245.1 million.

Albania's Stabilisation and Association Agreement (SAA) entered into force on 1 April 2009. Albania officially joined NATO on the same day.

In December 2009, the EU excluded Albania from the first stage of its visa liberalisation scheme for Western Balkan citizens. However, the European Commission recently sent a mission to examine the situation and Tirana is hopeful of being added this year (EurActiv 09/04/10).

Issues
Albania became a potential candidate country for EU accession at the Thessaloniki EU summit in June 2003 and officially submitted its application for membership in April 2009.

Once it has evaluated the responses to a questionnaire aimed at determining Albania's readiness to join the EU, the European Commission will issue an 'opinion'. If it is positive and then endorsed by the EU Council of Ministers, the country will acquire official candidate status.

After Albania had officially requested to join the European Union, EU foreign ministers stated that they would return to the country's application once national elections had been completed in June 2009.

However, since the poll was held on 28 June 2009, the ruling Democratic Party of Prime Minister Sali Berisha and the Socialist party of opposition leader Edi Rama have kept accusing each other of fraud (EurActiv 30/06/09).

Berisha's party prevailed in a very close vote. Olli Rehn, the EU's enlargement commissioner at the time, said the country must do better when staging elections in future, citing campaign violence and procedural violations.

In its observation report on the elections, the OSCE's Office for Democratic Institutions and Human Rights stated that the elections marked tangible progress for Albania but the improvements were overshadowed by the ''politicisation of technical aspects''.

While the elections met most OSCE [Organisation for Security and Cooperation in Europe] commitments, they did not adhere to the highest standards for democratic elections and all the political parties must work harder to respect the letter and purpose of the law, the report concluded.

The Socialist Party, which controls nearly half the seats in parliament, proceeded to boycott the assembly for several months and thus block the passage of laws – many of which are needed to align the country with EU legislation.

Though the Socialists returned to the legislature in February, they are refusing to take part in parliamentary activities as their demand that the votes be recounted was rejected by the assembly, which is dominated by Berisha's coalition.

EU Enlargement Commissioner Stefan Füle has expressed concern about the lack of political dialogue and recently warned Tirana that such instability has no place in the democratic politics of the EU (EurActiv 22/03/10).

Yet the Socialist Party is showing no signs of letting up. On 5 April, they called for anti-government demonstrations to ''accelerate the end'' of Berisha's government (EurActiv 06/04/10).

Economic prospects

Albania, which was a closed, centrally-planned state for almost fifty years, has been making the difficult transition to a modern, free-market economy since the early 1990s.

Between 2004 and 2008, macroeconomic growth in Albania averaged around 6% and despite the global economic crisis, it still recorded 3% growth in 2009. A fiscal reform package was recently adopted with the aim of reducing the grey economy and attracting foreign investment.

Agriculture accounts for over half of employment in Albania but modern equipment is seriously lacking, while energy shortages and poor infrastructure mean that business development and outside investment is scarce.

The EU is Albania's main trading partner but the gap between imports and exports has produced a large trade deficit. EU funds are being used to improve the national road and rail networks, the poor state of which is hampering economic growth.

Corruption and organised crime

In its most recent report on Albania, the European Commission raised concerns about the impartiality of the judiciary and said a comprehensive reform strategy was needed.

The Commission criticised attempts by the national executive to limit the independence of the judiciary and raised concerns about its impartiality, following the postponement of certain high-level cases on procedural grounds.

The government has implemented an anti-corruption strategy and action plan in line with the EU's European Partnership initiative and efforts have been made to increase transparency.

However, the Commission still stated that corruption remains a problem in many areas and has called for greater political will, stronger institutional arrangements and better inter-agency coordination to fight a ''culture of impunity''.

On a visit to Brussels on 14 April, Prime Minister Sali Berisha declared that a number of tough measures had been put in place to crack down on corruption and organised crime (EurActiv 15/04/10).

He claimed that corruption had been eradicated and that foreign investors now enjoyed simple procedures for starting businesses at an attractive flat tax rate of 10%.

Speaking to EurActiv in an exclusive interview, Berisha also that the Albanian mafia is now a thing of the past, as arrests have been conducted across Western European countries and more than 1,000 criminals have been sent to jail.

Positions
In an April 2010 statement following a meeting with Albanian Prime Minister Sali Berisha, Permanent President of the European Council Herman van Rompuy said: ''Prime Minister Berisha represents a country that has made its political vision and ambition very clear. I would like to use this opportunity as well to reiterate my strong commitment to the EU integration perspective of the entire region of the Western Balkans.''

On a visit to Albania in March, EU Enlargement Commissioner Štefan Füle used unusually tough language, warning Tirana that a prolonged political stalemate would harm the country's EU accession prospects.

''A fully functioning parliament is essential to a fully functioning democracy. If the current political stalemate were to persist, it could well prevent Albania from reaching the political standards expected from a country that has applied for EU membership,'' he said.

Speaking to EurActiv in March, Füle expressed concern about the ''stability of democratic institutions and the lack of political dialogue in the parliament''. Recognising that considerable progress had been made in recent years, he urged Albania to overcome the impasse, adding that ''responsibility lies with both political parties – both the ruling group and the opposition'.'

On a visit to Brussels on 14 April, Albanian Prime Minister Sali Berisha pleaded the case for his country's EU accession and provided numerous examples of tough measures imposed to crack down on organised crime and corruption.

In an exclusive interview with EurActiv, the prime minister said that his country was now one of the safest in Europe following a ''zero tolerance'' crackdown on the Albanian mafia, and economic growth had remained steady despite the global crisis.

On 5 April, Socialist opposition leader Edi Rama called on Albanians to instigate demonstrations against the ''bad governing'' of Prime Minister Berisha's ruling Democratic Party.

''The time has come for a big popular movement in order to accelerate the end of this government, responsible for electoral fraud, but also for other social and economic injustices,'' he said. Rama, who is also mayor of Tirana, urged citizens to protest against ''stolen votes'' and the ''ruining of the country's and each family's economy''.

Albanian Foreign Minister Ilir Meta conceded that the political stalemate was not ''contributing'' to speeding up the country's EU integration. In an interview with RFE/RL, he accused Socialist leader Edi Rama of making demands that run counter to the country's constitution.

He declared that an inquiry commission, which was only set up by votes from the ruling party, had the legal stature to rule on the controversy and accused the Socialists of ''damaging the country's image for the sake of the personal agenda of their own party chairman'.'

Speaking to EurActiv in March, Albanian ambassador to France Ylljet Aliçka claimed that Albania is making steady progress on adopting European standards and has a lot to offer the EU.

''Corruption and organised crime remain a problem in Albania, but there is a strong desire to tackle these issues and the results are encouraging […] But we have to speed up the pace of reform in economics, infrastructure and tourism,'' he said, adding that the country's administrative capacity is ''more mature'' than its political class.

Aliçka believes that Albania suffers from an image problem in Europe and would in fact bring many positive things to the EU: ''Religious tolerance, secularism, cultural diversity, tourism, young people, skilled workers... Albania's energy resources are also very important – only 20% are currently exploited,'' he said.

After its observation mission for last year's national elections, the OSCE's Office for Democratic Institutions and Human Rights stated: ''The 28 June 2009 parliamentary elections marked tangible progress with regard to the voter registration and identification process, the legal framework, adopted in a consensual manner by the two main parties, the voting, counting and the adjudication of election disputes."

"These substantial improvements were overshadowed by the politicisation of technical aspects of the process, including during the vote count and tabulation, which temporarily blocked the counting process in some areas, as well as by violations observed during the election campaign. These actions of political parties undermined public confidence in the election process," the statement continued.

Source: euractiv.com
trokit ketu



[ Edited Thu May 20 2010, 08:57am ]

Ju pershnes tanve. Ju falemnders per shoqnin tuej, e ju prift e mara tanve pa perjashtim. Kam ndryshue shpin, e kam shkue me shpi te
... Me vjen keq po s'kam mundsi me u dukt ma ktej parit. Ju pershnes me mirnjohje e dashamirsi.

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L - N
Wed Apr 14 2010, 10:57am
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Joined: Wed Sep 12 2007, 10:00am

Posts: 10623
Albanian Economy

Empire Mining Commences Drilling at Its Bulqiza Chromite Project, Albania




VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 13, 2010) - Empire Mining Corporation (TSX VENTURE:EPC) ("Empire") is pleased to announce that drilling has commenced at its 100% owned Bulqiza chromite project in Albania.

Drilling will be carried out with two separate drill rigs and will consist of at least 13 surface core holes, ranging in depth from 50 to +200 metres and totaling approximately 1,400 metres.

Drilling will focus on the northern and southern shallow portions of the eastern limb of the Bulqiza-Batra Orebody*. The Bulqiza-Batra Orebody hosts the historically productive Bulqiza and Batra Mines which were responsible for the bulk of Albania's chromite output when it was the third largest producer in the world before the collapse of the communist regime in 1989. The Bulqiza-Batra Orebody is characterized by high grades (+38% Cr2O3) and metallurgical quality (Cr:Fe ratios of up to 3:1). Empire's Bulqiza Licence surrounds and extends from the producing Bulqiza and Batra Mines and includes the eastern and western extensions of the Bulqiza-Batra Orebody which was identified by Empire in the data analysis carried out through 2009.

The eastern extension (the "Eastern Limb"), outlined at 3 km of strike and averaging more than 500 m across, has not been thoroughly tested by drilling.

At the southern end of the Eastern Limb at Batra, drilling is planned to confirm extensions northward from outcropping and shallow chromite in area only about 50 m from an open pit where an outcrop of the Eastern Limb is currently being mined by a third party. In addition, a newly-identified shallow extension to the south of this mining area will be evaluated by short drillholes. At the northern end of the Eastern Limb, drilling is planned to confirm grade and thickness of previous state drillhole intersections and obtain continuity.

The current planned drilling program is intended as a precursor to a more intensive drilling and development campaign aimed at obtaining a NI 43-101 resource and establishing sites for future mining.

* The term "Orebody" in this press release is used in the historical sense and is not meant to imply current economic viability.

Empire's Qualified Person, David C. Cliff, BSc (Hons), MIMMM, C Eng, FGS, also Empire's President & CEO, has reviewed and approved the content of this news release.

ON BEHALF OF THE BOARD

Robert F. Giustra, Director

This release contains forward-looking information and statements, as defined by law including without limitation Canadian securities laws and the "safe harbor" provisions of the US Private Securities Litigation Reform Act of 1995 ("forward-looking statements"), respecting Empire Mining's exploration plans, drill targets and depths, number of drill rigs to be used; and the ability to ultimately obtain a NI 43-101 resource and establishment of sites for future mining. Forward-looking statements involve risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by the forward-looking statements, including without limitation the ability to acquire necessary permits and other authorizations; environmental compliance; weather risks; cost increases; availability of qualified workers; availability of equipment; competition for mining properties; risks associated with exploration projects, mineral reserve and resource estimates (including the risk of assumption and methodology errors); dependence on third parties for services; non-performance by contractual counterparties; title risks; and general business and economic conditions. There is no assurance that the Bulqiza property will lead to a NI 43-101 resource, nor that future drilling will be desirable or conducted on the property. Forward-looking statements are based on a number of assumptions that may prove to be incorrect, including without limitation assumptions about: general business and economic conditions; favourable weather conditions; the timing and receipt of required approvals; availability of financing; power prices; ability to procure equipment and supplies; and ongoing relations with employees, partners and joint venturers. The foregoing list is not exhaustive and we undertake no obligation to update any of the foregoing except as required by law.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


Source: marketwire.com
trokit ketu

Bechtel-Enka JV to build Kosovo motorway

Bechtel, the largest engineering company in the United States, and joint venture (JV) partner Enka, the largest Turkish construction and engineering company, signed a contract with the government of Kosovo for the construction of the Morine-Merdar Motorway that will serve as a centerpiece of the country's national transportation system. The four-lane motorway will run from the border with Albania at Morine to north of Pristina, Kosovo's capital.

The Bechtel-Enka JV will be responsible for design management, procurement, and construction. The project will maximize opportunities to benefit the local economy through the use of local contractors, suppliers and employment on the project. Work is expected to begin in April 2010.


Source: © 2010 Construction News
trokit ketu

Italian Companies Form Balkan Business Association

Business | April 13, 2010, Tuesday

Italian business association from several Balkan countries have come together to form a union, Confindustria Balcani.

The founding ceremony was held on April 12, Monday, in the Albanian capital Tirana.

The founding members of Confindustria Balcani are the Committee of the Italian Entrepreneurship in Bulgaria, the Association of the Italian Entrepreneurs Operating in Albania, the Association of the Italian-Macedonian Entrepreneurship, the Consultative Committee of the Italian Entrepreneurship in Croatia, and “Sistema” (Forum for the economic development of Italy and Serbia).

The project for the forming of the business association of Italian enterprises in the Balkans has been supported by Confindustria, the Italian employers’ federation founded in 1910.

Representatives of Italian companies working in Kosovo, Montenegro, and Bosnia and Herzegovina were also present at the signing ceremony

During the first three years of its existence, Confindustria Balcani will be managed by the Committee of the Italian Entrepreneurship in Bulgaria (CIIB - acronym in Italian), which is throwing its way behind the new business association in order boost Italian investments in the Balkans, the Committee has announced.

“The project for the founding of Confindustria Balcani is of decisive importance of the Italian companies which are active in the Balkans,” said Massimo Bartocci, President of the CIIB.

“The interest of such an important organization as the Confindustria in the business in the Balkans is a testimony to the importance of the Italian presence in the region, and will help to attract new investments. We believe strongly in the future of this part of Europe, and this is precisely why we are taking steps to boost Italy’s commitment in the Balkans,” Bartocci explained.

Italy’s Confindustria has over 150 000 member companies, which provide employment to over 5 million people with combined revenue of EUR 500 B.

Source: novinite.com
trokit ketu


[ Edited Sat Apr 24 2010, 04:13pm ]

Ju pershnes tanve. Ju falemnders per shoqnin tuej, e ju prift e mara tanve pa perjashtim. Kam ndryshue shpin, e kam shkue me shpi te
... Me vjen keq po s'kam mundsi me u dukt ma ktej parit. Ju pershnes me mirnjohje e dashamirsi.

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L - N
Wed Apr 14 2010, 11:02am
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Joined: Wed Sep 12 2007, 10:00am

Posts: 10623
Albanian Economy

Spanish wins contract to deliver 90 generators for power plant in Albania




Balkan Business News Correspondent in Tirana - 14.04.2010
The Spanish Gamesa company announced it that has entered into an agreement with the Austrian Company Andritz Hydro for the delivery of 90 units of last generation permanent magnets generators for the power plant Ashta in Drin River (Albania) to be operated by Austrian Utility Verbund.

In this plant, designed according to the innovative Hydromatrix technology developed by Andritz Hydro, green energy is obtained by means of hydraulic turbines submerged in water, making use of an existing civil structure, hence minimizing the environmental impact, and allowing a more efficient use of natural resources.

The 48-MW Ashta hydropower plant is scheduled to begin operation in 2012. The project costs 160 million euro (USD227 million) having a forecasted annual energy generation of 230 GWh.

Gamesa is a company specialized in developing technologies and R&D for energy sustainability, mainly wind power. It is a leader in Spain and is positioned among the world's wind turbine manufacturers.

Source: Balcan.com
trokit ketu



[ Edited Sat Apr 24 2010, 04:13pm ]

Ju pershnes tanve. Ju falemnders per shoqnin tuej, e ju prift e mara tanve pa perjashtim. Kam ndryshue shpin, e kam shkue me shpi te
... Me vjen keq po s'kam mundsi me u dukt ma ktej parit. Ju pershnes me mirnjohje e dashamirsi.

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L - N
Mon Apr 19 2010, 11:25am
Registered Member #1228
Joined: Wed Sep 12 2007, 10:00am

Posts: 10623
Albanian Economy

Albania’s questionnaire first step in EU integration




18 April 2010 - Issue : 881

In efforts where Albanian Prime Minister Sali Berisha has praised the works of his administration Albania’s Parliament has completed an initial questionnaire posed by the European Commission of 2248 questions which will now open the doorway to review of Albania’s European Integration.
"The Commission's Opinion will be a fair and balanced assessment of Albania's readiness to comply with the EU membership criteria. We will pay particular attention to the fulfillment of the Copenhagen political criteria and of the obligations under the Stabilisation and Association Agreement," stated Commissioner Füle on 14 April, when he received Albania's answers to the European Commission questionnaire.
The great work which was a 20cm high stacked book embossed in silver and covered in European blue leather was “a work of pride” said Sali Berisha as he stood at the Berlaymont to deliver it alongside a commemorative gift passed on to Commissioner Fule from him as a token of the day.
The response from the European Commission commenting on the responses of Albania are set to come sooner rather than later both stated.
“Albania has done a great job in putting together this comprehensive
package of replies, through the efforts of many institutions, civil servants and experts as well as inter-institutional working groups.
It is our turn now to work hard: to analyse these replies in detail, to organise in the coming months expert verification missions and to conduct consultations, both internal and with third parties, in order to obtain additional inputs for our Opinion” the Commission said.
The Commission's Opinion will be a fair and balanced assessment of Albania's readiness to comply with the EU membership criteria the Commissioner stressed.
Paying particular attention to the fulfillment of the Copenhagen political criteria and of the obligations under the Stabilisation and Association Agreement.
The timing of the Opinion will largely depend on the quality and completeness of the information received.
Based on the Commission's Opinion, the Council will decide on the next steps to be taken.

Copyright © The Media Company S.A. 2009.
trokit ketu


[ Edited Sat Apr 24 2010, 04:14pm ]

Ju pershnes tanve. Ju falemnders per shoqnin tuej, e ju prift e mara tanve pa perjashtim. Kam ndryshue shpin, e kam shkue me shpi te
... Me vjen keq po s'kam mundsi me u dukt ma ktej parit. Ju pershnes me mirnjohje e dashamirsi.

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L - N
Wed Apr 21 2010, 10:46am
Registered Member #1228
Joined: Wed Sep 12 2007, 10:00am

Posts: 10623
Albanian Economy

S&P assigns Albania B+ sovereign rating with stable outlook




Bne - 21.04.2010

Standard & Poor's (S&P) assigned Albania B+ long-term foreign and local currency sovereign credit ratings. S&P also assigned B short-term foreign and local currency ratings to the country. The outlook reflected the country's relatively low prosperity, high government debt and uncertain political environment.

"On the other hand, the ratings are supported by the economy's solid growth performance and our view of its strong long-term potential, a legal framework that explicitly prioritizes debt-service payments, and long-term prospects for further EU [European Union] integration," said Standard & Poor's credit analyst Marko Mrsnik.

The southeastern European nation is now rated by two of the three major ratings agencies, which will help bolster confidence in the country's bid to sell a bond on international markets.

Ratings peer Moody's Investors Service Inc. rates Albania at B1, four notches into junk territory, with a stable outlook.

Source: Balcans.com
trokit ketu


[ Edited Sat Apr 24 2010, 04:14pm ]

Ju pershnes tanve. Ju falemnders per shoqnin tuej, e ju prift e mara tanve pa perjashtim. Kam ndryshue shpin, e kam shkue me shpi te
... Me vjen keq po s'kam mundsi me u dukt ma ktej parit. Ju pershnes me mirnjohje e dashamirsi.

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L - N
Thu Apr 22 2010, 03:33pm
Registered Member #1228
Joined: Wed Sep 12 2007, 10:00am

Posts: 10623
Albanian Economy

UPDATE 1-Bankers Petroleum resumes sales to Albania refineries




* Sales to ARMO be secured by revolving letter of credit

Stocks | Energy

* Says collects outstanding $12 mln sales receivable

April 22 (Reuters) - Canadian oil and gas company Bankers Petroleum Ltd (BNK.TO) said it resumed oil deliveries to Albanian refineries following resolution of a "long-standing financial matter." Bankers, which collected outstanding $12 million sales receivable, said all sales to Albanian Refining & Marketing of Oil Sh.A (ARMO) would be secured by a revolving letter of credit.

The two refineries, located at Ballsh and Fier in southern Albania, are operated by ARMO and have the capacity to process in excess of 10,000 barrels of oil per day (bopd), Bankers said in a statement.

The company, which is focused on developing large oil and gas reserves in Albania, said deliveries for the rest of 2010 will be about 2,000 bopd under the ARMO crude oil sales contract.

Shares of the Calgary, Alberta-based company were trading down 3 Canadian cents at C$8.67 on the Toronto Stock Exchange (Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Aradhana Aravindan)


Source: Thomson Reuters
trokit ketu


[ Edited Sat Apr 24 2010, 04:15pm ]

Ju pershnes tanve. Ju falemnders per shoqnin tuej, e ju prift e mara tanve pa perjashtim. Kam ndryshue shpin, e kam shkue me shpi te
... Me vjen keq po s'kam mundsi me u dukt ma ktej parit. Ju pershnes me mirnjohje e dashamirsi.

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L - N
Thu Apr 22 2010, 03:36pm
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Joined: Wed Sep 12 2007, 10:00am

Posts: 10623
Albanian Economy

Albania Seeks 400 Million Euros in Debut Eurobond (Update1)




April 22, 2010, 11:01 AM EDT

(Adds size of sale, maturity in second paragraph.)

By Sonja Cheung and Piotr Skolimowski

April 22 (Bloomberg) -- Albania plans to raise as much as 400 million euros ($532 million) of bonds in a debut international offering postponed by two years because of the global financial crisis.

The country will issue 300 million euros to 400 million euros of five-year notes by the end of April, Deputy Finance Minister Nezir Haldeda said by phone today. Albania will begin meetings with European investors on April 26. Deutsche Bank AG and JPMorgan Chase & Co. are managing the sale, according to a banker involved in the sale.

The Finance Ministry will use almost 200 million euros to pre-pay a syndicated loan, according to a statement on Jan. 18. The country is rated B+ by Standard & Poor’s, four levels below investment grade, putting it on par with Belarus and Nigeria and one step below Bangladesh.

Prime Minister Sali Berisha said in January 2008 the country envisaged issuing its first foreign-currency bonds in May of that year, a sign its economy had shed the legacy of a half-century of communist-imposed isolation. Emerging-market borrowing costs jumped more than threefold from January to October 2008 and sales of developing-nation debt plunged as credit markets froze following the collapse of Lehman Brothers Holdings Inc.

Borrowing costs have retreated to levels not seen since 2007 as the global economic recovery spurs demand for riskier, emerging-market assets. The extra yield investors demand to own developing-nation debt over U.S. Treasuries fell to 2.309 percentage points on April 15, the lowest since December 2007 and down from more than 8.655 percentage points in October 2008, according to JPMorgan Chase & Co.’s EMBI+ Index.

Accelerating Growth

The country’s economic growth is forecast to accelerate to 3.2 percent in 2011, from 2.3 percent expansion this year, according to a report from the International Monetary Fund this month. Albania joined the North Atlantic Treaty Organization in April last year and is a potential candidate for European Union membership.

Albania received a three-year, 95 million-euro loan in May last year and has $225 million of outstanding restructured bonds due 2025, Bloomberg data show. The yield on the restructured bonds stands at 6.16 percent, according to Standard Bank Group Ltd. prices.

--Editors: Stephen Kirkland, John Kohut.

To contact the reporter on this story: Sonja Cheung in London at -email-

To contact the editor responsible for this story: Paul Armstrong at -email-

Source: ©2010 Bloomberg L.P. All Rights Reserved
trokit ketu


[ Edited Sat Apr 24 2010, 04:16pm ]

Ju pershnes tanve. Ju falemnders per shoqnin tuej, e ju prift e mara tanve pa perjashtim. Kam ndryshue shpin, e kam shkue me shpi te
... Me vjen keq po s'kam mundsi me u dukt ma ktej parit. Ju pershnes me mirnjohje e dashamirsi.

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L - N
Thu Apr 22 2010, 03:54pm
Registered Member #1228
Joined: Wed Sep 12 2007, 10:00am

Posts: 10623
Albanian Economy

Undiscovered Equities, Inc.: Petromanas Energy Inc. announces appointment of Senior Exploration Advisor




Posted on: Thu, 22 Apr 2010 09:52:02 EDT

Symbols: PMI, PENYF

BAAR, SWITZERLAND, Apr 22, 2010 (M2 PRESSWIRE via COMTEX) --
Petromanas Energy Inc. ("Petromanas") (TSX-V: PMI | Quote | Chart | News | PowerRating) is pleased to announce that it has appointed Mr. Mark Cooper as Senior Exploration Advisor.

Erik Herlyn, CEO comments, "Mark Cooper is one of the world's leading structural geologists exploring in fold and thrust belts and has been associated with numerous oil discoveries including the foothills of BC and Colombia. We are delighted that now Mr. Cooper is committed to successfully find oil in Petromanas' 6 blocks in Albania".

About Mark Cooper:

Mark Cooper graduated with a B.Sc. geology degree from Imperial College, London in 1974 and with a Ph.D. from Bristol University in 1977. He taught geology at University College Cork prior to joining BP in 1985 to work on structurally complex basins based in London. Mark moved to BP Canada, Calgary in 1988 where he worked on exploration in the foothills including the successful Sukunka-Bullmoose gas play in NE British Columbia. Mark also worked for BP in Colombia on the team that drilled the discovery wells on the Cupiagua, Volcanera and Florena Fields. In 1994 he joined PanCanadian and worked on the BC foothills, western Newfoundland, Quebec, the Gulf of Mexico, the Scotian Shelf and various international projects. He worked on frontier and international projects in Oman, Qatar, Yemen, Eastern Europe and Greenland after the merger that created EnCana in 2002, managing the Middle East and Global New Ventures groups for EnCana. Mark retired from EnCana as VP Middle East and Global New Ventures at the end of 2007 and now has his own consulting practice specializing in International Exploration and Structural Geology. He has published over 50 papers, co-edited a book on Inversion Tectonics and has served as an advisory editor for the Journal of the Geological Society. He was a co-winner of the CSPG Link Award in 1997, served as an AAPG Distinguished Lecturer for 1999-2000 and was a co-winner of the AAPG Matson Award in 2002. Mark is involved with both the Canadian Society of Petroleum Geologists and the AAPG serving on committees in both organizations over the last 10 years.

About Petromanas:

Petromanas Energy Inc. ("Petromanas" or the "Company") is an international oil and gas company focused on the exploration and development of its assets in Albania that possess world-class resource potential. The Company's shares are listed on the TSX Venture Exchange under the symbol "PMI".

Through its wholly-owned subsidiary, Petromanas holds three Production Sharing Contracts ("PSCs") with the Albanian government. Under the terms of the PSCs, Petromanas has a 100% working interest in six onshore blocks (Blocks A,B,D,E,2 & 3) that comprise more than 1.7 million acres across Albania's Berati thrust belt.

Petromanas' acreage lies within a proven hydrocarbon system. In fact, there are nine existing oil fields within Blocks 2 & 3, including the largest onshore oil field in Europe, Patos-Marinza, discovered in 1928 and currently operated by Bankers Petroleum Ltd. The existing fields are excluded from the area covered by Petromanas' PSCs.

Petromanas was the fist company to accumulate and merge over 5,700 kilometers of historic and reprocessed 2D seismic with newly acquired 2D seismic and well data to develop a comprehensive picture of the geological trend and associated structures. To-date the Company has identified 14 conventional exploration prospects targeting sub-thrust hydrocarbon accumulations.

In 2001, Occidental Petroleum drilled the Shpiragu-1 well on Block 2 and penetrated a 600 meter column of light oil proving the geological model of the existence of a sub-thrust related structure under the Berati thrust belt. Shpiragu-1 produced intermittently up to 400 barrels per day of light, 37deg degree API oil, before the well test was terminated due to the choke freezing from hydrates which caused flow problems.

Gustavson Associates LLC ("Gustavson") of Boulder, Colorado prepared Resource and Economic Evaluation Reports (dated December 15, 2009) according to Canadian NI 51-101 standards on all six of Petromanas' Albanian Blocks. Based on the reports prepared by Gustavson, the 14 prospects identified on Blocks A,B,D,E,2 & 3 are estimated to contain 24.9 billion barrels of P50 oil-in place and 6.1 billion barrels of P50 prospective oil resource.

The Company is planning to shoot 105 kilometers of 2D seismic on Blocks E and 125 kilometers of 2D seismic on Blocks 2 &3 prior the end of the year. Petromanas will process and interpret the new seismic and continue to mature its drillable exploration prospect inventory. A multi-drilling program is expected to commence in the first quarter of 2011.

Undiscovered Equities is currently offering a trial subscription. For more information please call 1-800-404-8982 or visit our website at trokit ketu

Sincerely,

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((M2 Communications disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at trokit ketu on the world wide web. Inquiries to -email-.

For full details on Pmi Group Inc. The (PMI) PMI. Pmi Group Inc. The (PMI) has Short Term PowerRatings at TradingMarkets. Details on Pmi Group Inc. The (PMI) Short Term PowerRatings is available at This Link.

For full details on (PENYF) PENYF. (PENYF) has Short Term PowerRatings at TradingMarkets. Details on (PENYF) Short Term PowerRatings is available at This Link.

Source: © 2010 The Connors Group, Inc
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[ Edited Sat Apr 24 2010, 04:16pm ]

Ju pershnes tanve. Ju falemnders per shoqnin tuej, e ju prift e mara tanve pa perjashtim. Kam ndryshue shpin, e kam shkue me shpi te
... Me vjen keq po s'kam mundsi me u dukt ma ktej parit. Ju pershnes me mirnjohje e dashamirsi.

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Swiss consortium to invest over 5 billion dollars in Albania




Tirana - Albania's government Thursday signed a 4-billion- euro (5.35-billion-dollar) deal with Swiss consortium Rudana Investment Group AG for construction of hydropower plants and a refinery in the next four years.

Economy Minister Dritan Prifti told reporters in Tirana that the aim of the project is to build "a number" of hydropower plants with a capacity of 1000 megawatts per hour.

The deal also envisages building a new refinery in Porto Romano and either opening a new port in Vlora or privatizing the existing one within a four-year period.

"We decided to invest in Albania," Hany Salem, a vice-president of Rudana group said. "The investment will be made mostly in the energy area and in the exploitation and processing of crude petrol."

Rudana Investment Group is a European-Persian consortium, based in Switzerland.

Source: © 2010 trokit ketu
trokit ketu


[ Edited Sat Apr 24 2010, 04:17pm ]

Ju pershnes tanve. Ju falemnders per shoqnin tuej, e ju prift e mara tanve pa perjashtim. Kam ndryshue shpin, e kam shkue me shpi te
... Me vjen keq po s'kam mundsi me u dukt ma ktej parit. Ju pershnes me mirnjohje e dashamirsi.

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Albania signs mining concessional agreement with Turkish Kurum and China’s Sichuan



Balkan Business News Correspondent in Tirana - 26.04.2010
Albanian Minister of Economy, Trade and Energy Dritan Prifti signed a concessional mining agreement with Turkish company Kurum Energy and China’s, Sichuan Jiannanchun International Group Ltd., the ministry reported.

Under the agreement, the local created company, Illyria Minerals Industry Sh.a, will have the right to explore the chrome mine Kalimash, chrome mine Vlahne, chrome enrichment plant of Kalimash and copper enrichment plant of Golaj. The new companyis expected to produce about 210,000 tons per year of chrome from Kalimash and Vlahna mines.

“This is a good sign that Albania is a very attractive place for foreign investment.A giant Chinese company with a highly prestigious company as Kurum, are joining together to invest in Albania and develop chrome industry in the country,” MinisterPrifti said.


The project foresees a 20million euro investment in the first four years and plans to open several hundreds of new jobs in these areas of Albania.

Source balkans.com
trokit ketu


[ Edited Mon Apr 26 2010, 03:18pm ]

Ju pershnes tanve. Ju falemnders per shoqnin tuej, e ju prift e mara tanve pa perjashtim. Kam ndryshue shpin, e kam shkue me shpi te
... Me vjen keq po s'kam mundsi me u dukt ma ktej parit. Ju pershnes me mirnjohje e dashamirsi.

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Israel's Jacob Hai to build in Albania






Hai is also active in Nigeria, Bulgaria, Ukraine, Turkey, and Israel.
Einat Paz Frankel27 Apr 10 13:32
Israeli developer Jacob Hai will build a residential project in the Albanian capital of Tirana for €15 million. Hai's company, Globe International Holdings, will build the 88-unit project, called "Touch of the Sun".
Hai is also active in Nigeria, Bulgaria, Ukraine, Turkey, and Israel. It has built 30,000 apartments as well as 1.5 million square meters of commercial and industrial space in its 30 years of doing business.

Globe International said that 65% of the apartments would be sold to Albanians, and the rest to foreigners, including Israelis, to house employees working in Albania. Colliers International will market the project.

Published by Globes [online], Israel business news - trokit ketu - on April 27, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010
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Ju pershnes tanve. Ju falemnders per shoqnin tuej, e ju prift e mara tanve pa perjashtim. Kam ndryshue shpin, e kam shkue me shpi te
... Me vjen keq po s'kam mundsi me u dukt ma ktej parit. Ju pershnes me mirnjohje e dashamirsi.

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Montenegrin and Albania Business people gather at an event for promotion of business cooperation






Balkan Business News Correspondent - 27.04.2010

A Business Forumorganized by the Chamber of Commerce of Montenegro and Tirana brought togetherabout 70 Montenegrin and Albanian Business People on the 26th ofApril, reported the Chamber of Commerce in Montenegro. Addressing the Tiranabusinessmen and their Montenegrin counterpart, Ivan Saveljic, Vice PKCGstressed that this meeting represents a continuation of the two connections ofthe chambers of commerce in order to create favorable environment for thepromotion of business cooperation. This is evidenced by the data onexternal trade of Montenegro and Albania, which last year amounted to 14.9million, which is 0.8 percent of total merchandise trade between Montenegro andother countries.

Source: balkans.com
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Montenegro officially became part of the project drawing traffic axes.

Michael Roberts - 28.04.2010

At the meeting of all 18 members of the Central Initiative CEI, it was confirmed that Montenegro officially became part of the project drawing traffic axes.

According to the standards of the European Union EU, former transport corridors are replaced by traffic axes that are more comprehensive.

Minister of Transport, Maritime Affairs and Telecommunications Andrija Lompar said that in just represented axes in South Eastern Europe, one passes through Montenegro.

Project CEI working out plans to transport axes in the Balkans and Southeast Europe. European and regional development projects will be way closer to the case of Montenegro, said Lompar in Kolasin, noting that the axis through Montenegro almost coincides with the Adriatic-Ionic highway.

CEI meeting was devoted to multimodal transport, transport that is used by two or more types of transportation, combining road, rail, sea and river.

We know how much means for Montenegro, and especially for the residents of Plav municipality and environment, to connect traffic from Podgorica via Albania. We plan on the the fall to begin construction of modern road in that area, said Minister of Transport in the Government of Albania, Sokolj Oldaši. Source: MIPA

Source:balkans.com
trokit ketu



[ Edited Wed Apr 28 2010, 07:40am ]

Ju pershnes tanve. Ju falemnders per shoqnin tuej, e ju prift e mara tanve pa perjashtim. Kam ndryshue shpin, e kam shkue me shpi te
... Me vjen keq po s'kam mundsi me u dukt ma ktej parit. Ju pershnes me mirnjohje e dashamirsi.

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Balkan Countries display their innovation in their pavilion design at World Expo 2010 Shanghai





Alexander Sisic - 27.04.2010


All Balkan countries will head to Shanghai in May to exhibit at World Expo 2010.

First of all it remains a mistery the reason why Kosova the New State of Balkans is missing from this pavilion. So It is not quite right to claim the whole of Balkan countries are participants of this event .

Since 1851 when the Great Exhibition of Industries of All Nations was held in London, the World Expositions have attained increasing prominence as grand events for economic, scientific, technological and cultural exchanges, serving as an important platform for displaying historical experience, exchanging innovative ideas, demonstrating esprit de corps and looking to the future.

Expo 2010 Shanghai China theme is "Better City, Better Life". It will explore the full potential of urban life in the 21st century and a significant period in urban evolution. Fifty-five percent of the world population is expected to live in cities by the year 2010. Expo 2010 Shanghai China will centre on innovation and interaction.

Albania's pavilion facade is a mottled wall resembling Albania's most ancient and characteristic city of Gjirokaster. Images of the country's landscape embedded in the archways, together with models of historical architectures and modern videos present visitors the beautiful nation of history. The giant hi-tech screen embedded in the huge "iceberg" throws visitors into real scenes.

Bosnia's T inner space of the pavilion is arranged in a figure "8" and multi-faceted pattern and divided into Handicraft Area, LCD and Interaction Area, Cinema and Dining Area. The country's cultural and natural diversity is presented in many aspects, displaying the balanced development of cities and villages as well as the harmonious co-existence of people with different backgrounds, which interprets the theme "Whole Country – One City." Visitors will see artists making handicraft at the wooden handiwork bench in the central area, and they can also try making works of their own.

Bulgarias pavilion design is modernistic. The image of the ancient and yet modern country is depicted by linking past civilizations to present urban environment. Inside the pavilion there are two streets and a square, to showcase the transformation of the urban space during different cultural epochs. Various exhibits here offer visitors a journey through the cultural history of Bulgaria. Thracian gold treasures and mosaics from the Roman Empire are exhibited in the zone of Antiquity where archaeological tools are placed under the glass floor.

Croatia's pavilion, with its exterior colored Croatian red, has a steal-structured facade dotted by white flags flying in the air. Videos and images are shown by the 10 slide projectors on the interior side walls, displaying daily life of Croatian people in cities, urban development, dif ferences between inland and coastal areas, and ancient and new cities. Visitors may listen to the sound and music of Croatian cities.

Cyprus pavilion, romantic and fascinating, is an epitome of the city of Cyprus. Exhibitions on the Past, the Present, the Center and Future will be presented with interactive installations, videos, pictures and exhibits to showcase the historical and cultural heritage, modern cities and future development of Cyprus as the Island of Aphrodite, highlighting its diversity, beauty, balance and modernity. The movie House of Aphrodite, played repeatedly in a 3D space, depicts a miraculous journey from the past to the future.

FYR Macedonia is an exquisite, environment-friendly structure inspired by the beehive. The interior wall is composed of numerous regular hexagons and dotted with pictures of average people's life. Images and videos bring the theme "Urban Continuity" into full play. The beehive structure reflects green and energy-saving awareness, as well as the vision for harmonious coexistence between all nations.

Greece's pavilion addresses the theme of this year’s expo through a human centered approach. Polis, the Greek city constitutes “a city for living well” but also a live, a vibrant city! The design refers to the urban fabric, not as a physical replica, but as an interpretation of living and functioning in the city, as a reminder of the joy of the urban life. It not only exhibits the every day way of life but it also reflects an insatiable thirst for living. The Greek pavilion uniqueness is that condenses 24hrs in the life of a Greek city into the 12 hours that the pavilion will be open to the public. In fact, the pavilion can be seen as a “living organism” that follows a daily cycle synchronized with the cycle of the sun in Shanghai for the duration of the Expo.

Montenegro Pavilion was inspired by the country's natural scenery. Its exterior is made of metal panels. The abstract geometric patterns are reminiscent of mountain ranges and the projections with changing colors help create a visual feast. The exhibition showcasing forests, parks and coastal cities reveals the charm and beauty of the country. The "Mountain" section of the exhibition simulates the famous Mount Lovcen of Montenegro. The slope of the floor will steepen into a cliff as visitors move forward.

Romania Pavilion is divided into two parts: a huge green apple and a slice of an apple lying on the ground. The exhibition includes three sections - "Millennium in Retrospect, "Social and urban development promoted by history and nature" and "City life close to nature." The pavilion will also demonstrate the charm of Romania to visitors from all over the world with traditional dance performances, ethnic costume exhibitions and other activities. "Green Apple" Changing Colors The exterior of the Romania Pavilion is constructed from glass, while the interior is composed primarily of steel. The designers will illuminate the "green apple" with a multitude of different lights and colors to draw attention during the dark evenings.

Serbia's design of the pavilion is based on traditional Serbian architecture but looks more modern and spacious. LED lights on the outer walls sparkle at night. Inside the pavilion there are halls, exhibition areas and lounges. The pavilion adopts the element of "time" to connect not only many interesting exhibited items but also the past, present and future of Serbia. Thanks to this "time" element, visitors' imaginations about the future and visions of better use of time are fully aroused. The time machine is a special device with flywheels and belts to five people the sensation of traveling across time.

Slovenia's Pavilion design comes from a book, with its obverse side resembling a bookshelf and thousands of books in all styles listed on it. Eight books with large sizes inside the pavilion symbolize "the eight immortals crossing the sea," which are famous characters in Chinese legends. These eight books showcase the economy, culture, science and technology, nature, human culture, sports and other aspects of Slovenia. Visitors may feel like going on an amazing journey while reading the eight books, with each page revealing sceneries, living creatures and multi-culture of the country and forming fantastic chapters. Eight books bring a kind of fantastic senses of sight, hearing, touch and even smell.

Turkey's main inspiration for the exterior of the 2,000-square-meter rented pavilion was derived from one of the first known settlements in the world called "Catalhoyuk" in Turkish, the center of advanced culture in the Neolithic period. The pavilion looks like an amazing red and beige box with an animal sculpture, inviting visitors to explore a maze of dreams.A series of cultural activities will be staged, including traditional music and ballet performances as well as a traditional "Catalhoyuk" fashion show. Source: Expo2010



Source:balkans.com
trokit ketu



[ Edited Wed Apr 28 2010, 07:55am ]

Ju pershnes tanve. Ju falemnders per shoqnin tuej, e ju prift e mara tanve pa perjashtim. Kam ndryshue shpin, e kam shkue me shpi te
... Me vjen keq po s'kam mundsi me u dukt ma ktej parit. Ju pershnes me mirnjohje e dashamirsi.

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Verbund and EVN to co-operate on Ashta




28 April 2010
Austrian utility Verbund and Albanian firm EVN have signed a syndicate contract that will give both companies 50% ownership of the 50MW Ashta power plant being developed on the River Drin in Albania.

The Albanian government started the tendering procedure for the Ashta hydro power plant on 15 January 2008, with Verbund being named winning bidder for the project. Construction of the run-of-river plant – which will be equipped with Hydromatrix technology from Andritz Hydro – began in March and it is scheduled for completion in 2012.


Implementation of the power plant project has been assigned to Tirana-based Energji Ashta, with construction and management assigned to Verbund within the framework of a service contract.

Source: waterpowermagazine.com
trokit ketu


[ Edited Wed Apr 28 2010, 10:55am ]

Ju pershnes tanve. Ju falemnders per shoqnin tuej, e ju prift e mara tanve pa perjashtim. Kam ndryshue shpin, e kam shkue me shpi te
... Me vjen keq po s'kam mundsi me u dukt ma ktej parit. Ju pershnes me mirnjohje e dashamirsi.

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Fri Apr 30 2010, 12:46pm
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Albanian Economy

Albania Pursues Debut Bond at Yield Lower Than Greece



(Update1)
April 30, 2010, 5:07 AM EDT


(Adds remittances to Albania in third paragraph.)

By Piotr Skolimowski

April 30 (Bloomberg) -- Albania said it’s pushing on with its first sale of Eurobonds even after the biggest surge in emerging-market borrowing costs in a year on Greece’s downgrade caused the Czech government to abandon its borrowing plan.

The government is talking to investors “today and maybe next week,” Deputy Finance Minister Nezir Haldeda said in a phone interview yesterday. “We don’t believe Greece will have an impact on the deal.”

Albania, where remittances from abroad account for about a sixth of the economy, has the same Standard & Poor’s B+ rating as Belarus, Nigeria and Senegal. The yield on Senegal’s 8.75 percent dollar bonds due in 2014 rose to 7.94 percent from as little as 7.78 percent on April 15, according to prices on Bloomberg. The yield is a third lower than the 11.4 percent rate yesterday on five-year benchmark bonds sold by Greece, which are rated BB+ by S&P, or three levels above Senegal and Albania.

A yield of 7 percent would be “a good starting point” for Albania to offer investors, although it may also need to include “a liquidity premium,” said Martin Marinov, who helps manage the equivalent of about $930 million in emerging-market fixed- income assets at Raiffeisen Capital Management in Vienna and met with Albanian officials this week to discuss the bond offering. “They left a very good impression,” said Marinov, who is considering buying the securities.

Bond Offering

Albania’s government wants to sell between 300 million euros ($398 million) and 400 million euros of five-year notes after delaying the sale by two years because of the global financial crisis. Haldeda said in an interview last week that the bonds would be issued by the end of April. Deutsche Bank AG and JPMorgan Chase & Co. are managing the sale and began meetings with European investors on April 26, according to a banker involved in the sale.

“We are watching the market carefully,” said Haldeda, declining to say when the sale will take place.

World markets retreated this week after Standard & Poor’s cut Greece’s debt rating by three levels to junk and reduced Portugal by two steps. The extra yield investors demand to own developing-nation debt over U.S. Treasuries jumped 20 basis points on April 27, the most since April 2009, according to JPMorgan Chase & Co.’s EMBI+ Index.

The surge in borrowing costs prompted the Czech Republic to delay its planned sale of bonds in euros to await “better conditions” on the market, Deputy Finance Minister Ivan Fuksa said on April 28. Indonesia, Southeast Asia’s biggest economy, delayed a planned sale of 100 billion yen ($1.1 billion) of Samurai bonds, three people familiar with the matter said.

Greek Rescue

The International Monetary Fund told German lawmakers this week Greece may need as much as 120 billion euros. The IMF, European Union and the European Central Bank are making “rapid progress” on a rescue package, European Commission President Jose Barroso said today. Barroso said he’s confident a package will be completed “in days.”

Albania’s Prime Minister Sali Berisha said in January 2008 the country planned its first foreign-currency bond sale in May of that year. The sale was halted as emerging-market borrowing costs jumped more than threefold from January to October 2008. Sales of developing-nation debt plunged as credit markets froze following the collapse of Lehman Brothers Holdings Inc.

The Finance Ministry will use almost 200 million euros to pre-pay a syndicated loan, according to a statement on Jan. 18. Albania received a 95 million-euro three-year loan last May and has $225 million of outstanding restructured bonds due 2025, Bloomberg data show. The yield on the restructured bonds is 6.16 percent, according to Standard Bank Group Ltd. prices.

Accelerating Growth

Albania’s economic growth is forecast to accelerate to 3.2 percent in 2011, from 2.3 percent expansion this year, according to a report from the International Monetary Fund this month. Albania joined the North Atlantic Treaty Organization in April last year and is a potential candidate for European Union membership.

The country relies on annual remittances from abroad representing about 15 percent of gross domestic product, mostly from Albanians living in Greece and Italy, according to the CIA Factbook.

--Editors: Gavin Serkin, Stephen Kirkland.

To contact the reporter on this story: Piotr Skolimowski in Warsaw at -email-

To contact the editor responsible for this story: Gavin Serkin at -email-

Source: trokit ketu



Ju pershnes tanve. Ju falemnders per shoqnin tuej, e ju prift e mara tanve pa perjashtim. Kam ndryshue shpin, e kam shkue me shpi te
... Me vjen keq po s'kam mundsi me u dukt ma ktej parit. Ju pershnes me mirnjohje e dashamirsi.

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Bulgaria, Albania, FYROM, Italy Throw Weight behind Corridor VIII



Pan-European Transport Corridor VIII is supposed to connect the Black Sea and the Adriatic. Map by secretariat-corridor8.it



Bulgaria, Albania, Macedonia, and Italy have attended a conference entitled “Corridor VIII – Bridge between the Adriatic and the Black Sea”.

The forum in Tirana was opened by Albanian Prime Minister Sali Berisha on Thursday. Bulgaria is represented by Transport Minister Alexander Tsvetkov.

Tsvetkov presented before the forum participants the development of the infrastructure of the Bulgarian section of Pan-European Transport Corridor VIII, which is supposed to connect the Bulgarian Black Sea ports with the Adriatic ports in Italy. Its proper functioning is expected to facilitate trade between Central Asia and the Far East on the one hand, and Western Europe on the other.

The Corridor VIII forum was attended by the transport ministers of all four states located along the respective route as well as by representatives of the international financial institutions.

Tags: Corridor 8, Italy, Albania, macedonia, Sali Berisha, transport corridor, Tirana, Alexander Tsvetkov, Transport Minister

Source: trokit ketu



Ju pershnes tanve. Ju falemnders per shoqnin tuej, e ju prift e mara tanve pa perjashtim. Kam ndryshue shpin, e kam shkue me shpi te
... Me vjen keq po s'kam mundsi me u dukt ma ktej parit. Ju pershnes me mirnjohje e dashamirsi.

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Kosovo seeks 110 mln euro deal with IMF in June-INTERVIEW



Friday April 30, 2010 11:02:18 PM GMT

KOSOVO-ECONOMY/ (INTERVIEW)* Kosovo hopes to conclude the IMF deal in June
* Without IMF deal will lose 227 mln euros grant
* No near plans to seek Eurobonds or ask for loans


By Fatos Bytyci

PRISTINA, April 29 (Reuters) - Kosovo will likely sign a 110 million euro stand-by deal with the International Monetary Fund in June or the country may lose a 227 million grant, Kosovo's economy and finance minister said in an interview on Thursday.

The European Union pledged 150 million euros and the World Bank 77 million euros to support the budget but asked Kosovo first to enter a programme with the IMF.

"In mid-May we will have another IMF mission and then will close the deal," Finance Minister Ahmet Shala told Reuters.

"They will present the agreement at the IMF board in June and then give us an answer."

"Our aim is 40 million euros for this year and 70 million for 2011 but these figures may change."

Kosovo which is one of the poorest countries in Europe has so far failed to reach a deal despite several visits by IMF missions to Pristina.

Kosovo's ethnic Albanian-led government and the IMF have not agreed about public sector wage increases, the financing of a 700 million euros highway, or improvement of budgetary discipline.

"We need to have public investments at the time when the foreign investments and remittances have fallen in the whole region and the only way to fill this gap are public investments," Shala said.

With its two million-strong, predominantly ethnic Albanian population, Kosovo is heavily reliant on foreign aid, two years after it gained independence from Serbia and a decade after the end of a 1998-99 bloody war. It joined the IMF and World Bank in 2009.

The European Union, Kosovo's main donor, has given most of 4 billion euros in aid over the past decade.

The money from the EU and WB grant for this and next year would account for about 10 percent of Kosovo's budget. The 2010 budget is 1.46 billion euro.

Shala said his country will have 5 percent economic growth this year and 6.8 in 2011.

"For the next three years we expect to have 6.1 percent economic growth."

Economists have said the country needs double digit growth to reduce the 45 percent unemployment rate.

Shala said Kosovo is now preparing the necessary legislation but still has no plans to issue Eurobonds this year, nor to ask for loans soon.

"We first want to reduce the informal economy, improve better tax collection and we may add taxes for the luxurious goods and only after that that we may think about seeking loans."

In the region, Serbia and Bosnia have already concluded deals with the IMF, and several other countries are in talks about possible loans except Albania.

(Reporting by Fatos Bytyci; editing by Ron Askew)
(c) Copyright Thomson Reuters 2010. Click For Restrictions. trokit ketu

Source: forexyard.com
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Ju pershnes tanve. Ju falemnders per shoqnin tuej, e ju prift e mara tanve pa perjashtim. Kam ndryshue shpin, e kam shkue me shpi te
... Me vjen keq po s'kam mundsi me u dukt ma ktej parit. Ju pershnes me mirnjohje e dashamirsi.

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Tirana's Hotel Dajti sold to Bank of Albania




TIRANA, Albania

The Albanian government says it has sold the landmark Dajti Hotel in Tirana, the country's oldest, to Albania's central bank for euro30 million ($38 million).

Designed by an Italian architect during fascist Italy's occupation of Albania in 1939-1943, the 98-room Dajti was Tirana's only luxury hotel during the post-WWII decades of Communist rule.

It fell into disuse after the Communist regime collapsed in 1990.

The Bank of Albania will use the Dajti while its headquarters are being refurbished, a government statement said Thursday.

The government repeatedly failed to sell the hotel to private investors. Plans to turn it into Foreign Ministry offices have been shelved.

After the war, the Dajti briefly served as the Communist government's headquarters

Source: ©2010 Bloomberg
trokit ketu


[/quote1273765191]


[ Edited Thu May 13 2010, 03:42pm ]

Ju pershnes tanve. Ju falemnders per shoqnin tuej, e ju prift e mara tanve pa perjashtim. Kam ndryshue shpin, e kam shkue me shpi te
... Me vjen keq po s'kam mundsi me u dukt ma ktej parit. Ju pershnes me mirnjohje e dashamirsi.

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L - N
Fri May 14 2010, 05:11pm
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Albanian Economy

Foreign Minister Opens Bulgarian-Albanian Commercial Chamber
Diplomacy | May 14, 2010, Friday




TIRANA, Albania

Bulgarian-Albanian Chamber of Commerce has been set up in Tirana during the visit of Foreign Minister Nikolay Mladenov.

The Bulgarian-Albanian Chamber of Commerce was opened by Mladenov Thursday night. Its founding is the first Bulgarian initiative of its kind in the Western Balkans.

“Bulgaria is going to support the EU visa liberalization for Albania after the European Commission initiates such a measure,” stated the Bulgarian Foreing Minister during his meeting wih his Albanian counterpart Ilir Meta on Friday.

Albania was the last stop of the Western Balkans tour of Nikolay Mladenov which included Macedonia, Serbia, Kosovo, and Bosnia and Herzegovina.

Albania’s Foreign Minister Ilir Meta commented on the political crisis in the country in which the Socialist opposition has staged a hunger strike demanding a recount of the votes in last year’s elections by saying that the political tension had a negative impact on the image of the state.

“We went through a similar process in the 1990s but as a EU member we now know that political arguments have to resolved in the Parliament. It is extremely important for the EU integration of Albania to demonstrate maturity, and to achieve a consensus through dialogue in the present situation,” the Bulgarian Foreing Minister recommended.

On Friday, Mladenov also met with Albania’s President Bamir Topi, Parliament Chair Jozefina Topalli, and Edi Rama, leader of the opposition Socialist Party. He also delivered a lecture at the European University of Tirana.


SOURCE: NOVITE.COM
trokit ketu





Ju pershnes tanve. Ju falemnders per shoqnin tuej, e ju prift e mara tanve pa perjashtim. Kam ndryshue shpin, e kam shkue me shpi te
... Me vjen keq po s'kam mundsi me u dukt ma ktej parit. Ju pershnes me mirnjohje e dashamirsi.

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L - N
Tue May 18 2010, 09:42am
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Albanian Economy

Albania: House price index increased by 13.6% in 2009




Balkan Business News Correspondent in Tirana - 18.05.2010

The house price index showed increasing rates in 2009 after a period of decrease in 2008, the Albanian central bank said in its latest report on the financial stability. The index marked an annual increase of 11.6% during the last quarter of 2009 and an average increase of 13.6% in 2009.

“After the negative quarterly changes of the index during the first quarter of the year, these changes stood at a positive level of 5.8 percent in the remaining part of the year. This increase mainly reflected the undervaluation progress of the Albanian national currency Lek in the whole period taking into consideration the fact that the prices in the housing market are mainly expressed in the European currency,” the Bank of Albania said.

The Bank of Albania said that the expectations for the increasing prices in the construction sector suggest a stable supply in the real estate market. On the other hand, in the point of view of demand, the tightening of the crediting conditions during 2009, suggests a drop of this index.

Moreover the same sources said that the policies followed by the commercial banks for the tightening of the crediting criteria have been mainly noticed in the increase of the credit collateral coverage ratio.

Source: balkan.com
trokit ketu


Ju pershnes tanve. Ju falemnders per shoqnin tuej, e ju prift e mara tanve pa perjashtim. Kam ndryshue shpin, e kam shkue me shpi te
... Me vjen keq po s'kam mundsi me u dukt ma ktej parit. Ju pershnes me mirnjohje e dashamirsi.

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Tue May 18 2010, 09:44am
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Albanian Economy

Banks in Albania register profit in the first quarter 2010




Balkan Business News Correspondent in Tirana - 18.05.2010
The commercial banks that operate in Albania registered profits in the first quarter 2010, according to the data published by the Albanian central bank.

The profit comes from banks’ assets and high interest rates applied in crediting process. Raiffeisen Bank is ranked first with a 1.5 billion leke (11 million euros, USD13.5 million), followed by Banka Kombetare Tregtare with 627 million leke (4.6 million euros, USD5.6 million).

Emporiki Bank and Banka Popullore have gone through difficulties after they have experienced losses.

The data published by Bank of Albania show that most of banks have had profitable results in the first months of the year. Tirana Bank has earned 330 million 1.5 billion leke (2.4 million euros, USD2.9 million) in the first quarter of the year, while Credins Bank 213 million leke (1.5 million euros, USD1.9 million), and Alpha Bank 165 million leke (1.2 million euros, USD1.4 million).

Meanwhile Emporiki Bank lost 144 million leke (1 million euros, USD1.3 million) in three months and Bank Popullore has lost 120 million leke (0.8 million euros, USD1 million).

The net profit of Albanian banking system increased 4.7 times compared to the previous year.


Source:balcan.coms
trokit ketu



Ju pershnes tanve. Ju falemnders per shoqnin tuej, e ju prift e mara tanve pa perjashtim. Kam ndryshue shpin, e kam shkue me shpi te
... Me vjen keq po s'kam mundsi me u dukt ma ktej parit. Ju pershnes me mirnjohje e dashamirsi.

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:::ShkoderZemer
Tue May 18 2010, 12:06pm


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Thu May 20 2010, 08:27am
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Albanian Economy

Tirana Business Park first phase construction expected to start late 2010




Balkan Business News Correspondent in Tirana - 20.05.2010
“We’re continuing a tradition that has gone beyond a decade”, said Michael Ulmer-Lindner, the General Manager of Lindner Development remarked about their new development, Tirana Business Park.

Tirana Business Park will be the single largest commercial development project ever done in Albania since the fall of communism – as well as the first business park in Albania. The project is located on a parcel land of 210,000 square meters, and the projected built-up area is expected to exceed well in excess of 200,000 square meters of office, warehouse and small-scale light industrial buildings.


Tirana Business Park will be situated near the Mother Teresa International Airport in Preza Commune, Tiranë. The project will be constructed in two phases with the first phase expected to start in October/November 2010.

Colliers International signed an important long term investor representation agreement with a German development company based outside of Munich, Lindner Development.

Colliers will be engaged in providing exclusive leasing/selling services of the commercial space, development advisory, marketing, legal and property management advisory services.



“As Colliers we are more than excited to bring the Lindner expertise to the Albanian market. We believe that through our joint cooperation we will be able to change and further improve construction standards in Albania”, added Stela Dhami, the General Manager of Colliers in Albania.


Lindner Development is a European market leader with over 40 years of experience in interior fit-out and façade construction. lliers International is the third largest commercial real estate services company in the world with 15,000 professionals operating out of more than 480 offices in 61 countries.

Source:balcan.coms
trokit ketu




Ju pershnes tanve. Ju falemnders per shoqnin tuej, e ju prift e mara tanve pa perjashtim. Kam ndryshue shpin, e kam shkue me shpi te
... Me vjen keq po s'kam mundsi me u dukt ma ktej parit. Ju pershnes me mirnjohje e dashamirsi.

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Thu May 20 2010, 08:56am
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Albanian Economy

Albania, TAP, sign agreement of understanding for construction of Trans Adriatic Pipeline




Balkan Business News Correspondent in Tirana - 20.05.2010
Albanian Minister of Economy, Trade and Energy, Dritan Prifti and representatives of Trans Adriatic Pipeline AG , J Thomas Dimitroff and Lars Kronstadt, have signed an agreement of understanding for construction of the pipeline “Trans Adriatic Pipeline (TAP)”, the ministry reported.

The memorandum defines the steps to be followed by both parties for the implementation of the “Trans Adriatic Pipeline” gas pipeline project for Albania.


TAP is a 520km pipeline that will transport natural gas via Greece and Albania across the Adriatic Sea to Italy’s southern Puglia region, and then further into Western Europe.


The project, planned to start in 2011, aims to enhance security of supplies and diversification for European markets.

Source:balkans.coms
trokit ketu





Ju pershnes tanve. Ju falemnders per shoqnin tuej, e ju prift e mara tanve pa perjashtim. Kam ndryshue shpin, e kam shkue me shpi te
... Me vjen keq po s'kam mundsi me u dukt ma ktej parit. Ju pershnes me mirnjohje e dashamirsi.

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L - N
Thu May 20 2010, 09:04am
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Posts: 10623
Albanian Economy

Albania moves up from last year in the WEF Enabling Trade Index 2010 rankings




Balkan Business News Correspondent - 20.05.2010
The WEF Enabling Trade Index 2010 rankings and 2009 comparison for Albania indicates that Albania has moved up some notches. The 2009 ETI rank was 63 while the 2010 provided Albania with a rank of 59.* The country's overall ranking was 4.13.


Albania scored quite well in the Enabling Trade Index 2010 Market access with a ranking of 21 and with a ranking of 4 in domestic market access.


*The 2009 rank is out of 121 countries. Five new countries were added to the 2010 Index: Iceland, Georgia, Botswana, Serbia, and Montenegro. One country covered last year, Moldova, had to be excluded this year for lack of Survey data.


The World Economic Forum published its Global Enabling Trade Report for 2010 on Wednesday. Singapore (6.06) and Hong Kong SAR (5.70) continue to occupy the top two positions followed by Denmark (5.41), Sweden (5.41) and Switzerland (5.37). The lowest overall trade index score was Burundi with 2.79. Among the large economies, Germany is the best performer at 13th, ahead of the United States, which drops by three places to 19th. China (48th) and Brazil (87th) remain stable, while Turkey (62nd), India (84th) and Russia (114th) drop in the ranking. The results mirror the resilience against the threat of protectionism during the economic crisis. International agreements such the WTO framework and pledges by the G20 have contributed to limiting the effect of protectionist pressures on trade barriers.

Despite fears of rising protectionism, the report confirms that a large majority of countries did not raise trade barriers. Launched at a time when trade volumes recover from the deepest post-war slump, the report, by identifying the obstacles to and enablers of trade across countries, can contribute to strengthening the recovery. As countries enable trade, they also provide benefits to their trade partners, thereby supporting economic growth.
Source: World Economic Forum

Source:balkans.coms
trokit ketu


Ju pershnes tanve. Ju falemnders per shoqnin tuej, e ju prift e mara tanve pa perjashtim. Kam ndryshue shpin, e kam shkue me shpi te
... Me vjen keq po s'kam mundsi me u dukt ma ktej parit. Ju pershnes me mirnjohje e dashamirsi.

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