Economy

Foreign direct investment on upward trend in first quarter of 2018

Foreign direct investment grew by 61.6% in the first quarter of the year compared with the same period a year earlier. The Bank of Albania reported that in January-March foreign companies invested EUR 283 million in the Albanian economy or EUR 108 million more than in the first quarter of 2017. Historical data show that this is the highest level ...

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Albania: SHELL to invest $42 million in Block 4

The Albanian government approved the decision for the exploration and production of hydrocarbons in Block 4, by the international company SHELL. Three years of negotiations between SHELL and the Albanian government were needed to finalize the agreement, that foresees a 42 million$ investment in extracting hydrocarbons in Block 4. After the government meeting held in Durres, Pm Edi Rama informed ...

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Unemployment in Albania falls to a historical low

Unemployment rate in Albania has fallen to 12.5%. This figure was confirmed by the Institute of Statistics, according to which, this is the lowest unemployment rate recently registered in the country. Meanwhile, minister of Economy, Arben Ahmetaj declared that unemployment fell to a historical low. “The figures published today by INSTAT indicate that employment continued to rise in the first ...

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Fuel imports marked a historic record in the first quarter of the year

Fuel imports marked a historic record in the first quarter of the year, according to data from the Ministry of Finance. From January to April 2018, 160 thousand tons of oil were imported, with a 50 percent increase as compared with the same period last year. As it is seen, the import has reached a historic record in quantity since ...

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Albania: Government encourages the cultivation of medicinal herbs

20 thousand hectares of land all over the country may potentially be cultivated with cannabis. This is the alarm raised by government structures, admitting that this area of land may potentially be used to cultivate this type of drug. To prevent this, the government suggests a number of measures to be taken in order to reduce cannabis cultivated areas in ...

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EBRD Albanian Railways project wins award for Best Rail Deal 2017

An EBRD project supporting the rehabilitation of the railway line between Tirana and Durres and the construction of a new railway link from Tirana-Durres to Tirana International Airport has been named ”Best Rail Deal 2017” by Emea Finance’s Awards 2017. PFI Awards, given out in London are a milestone in the global project finance calendar. EBRD support for the railway ...

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Central Bank decides to stop further plummeting of the euro

Bank of Albania will buy foreign currency in order to reduce the excess supply of the euro in the market, enabling the strengthening of the lek. On the other hand, BoA reduced the base interest rate in order to increase the supply of the lek in the market The value of the Euro will not be allowed to drop any ...

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Joint Intergovernmental Commission on China-Albania’s economic cooperation meeting held in Ningbo

The 9th meeting of the Joint Intergovernmental Commission on China-Albania’s economic-trade cooperation was held in Ningbo. Fu Ziying, the chairman of the Chinese side of this commission, the representative of the international trade talks and the vice minister of trade of China and Albana Shkurta, the chairman of the Albanian party of the commission and the vice minister of finance ...

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500 new employees to be engaged during the summer season in Albania

500 temporary employees will be added to the National Agency for Protected Areas at the Ministry of Tourism and Environment, during the summer season in Albania. The government approved the number of employees that will sign a temporary contract during the summer season. This draft was proposed by the General Directorate of the National Agency of Protected Areas. The working ...

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Vlora Airport to be finished by 2020

Pm Edi Rama was present in the city of Vlora, during the official opening of the touristic season in the city, and shared his conviction that the works of the Vlora Airport will begin soon, and the airport will be ready within 2020. From Orikum, Pm Rama declared that the newly build airport will facilitate the movement of the citizens ...

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