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EBRD Launches Program for Innovative Startups in WB6
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EBRD Launches Program for Innovative Startups in WB6

TIRANA, September 25 The European Bank for Reconstruction and Development (EBRD) launched the Star Venture program in the Western Balkan countries (WB6). The program’s goal is to identify innovative startups with the potential to scale up. The program will provide applicants with business advice and access to finance to accelerate their life-cycle. Based on the...

Heavy Hailstorm Hit Konispoli Citrus Orchards
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Heavy Hailstorm Hit Konispoli Citrus Orchards

TIRANA, September 23 The first rainfall of the season accompanied by a hailstorm caused considerable damage to citrus and olive orchards in Konispol and Xarra area, southern Albania. Those are the most important areas for the production of high-quality tangerine and clementine fruits in the country. Farmers reported local damage up to 50 percent of...

ICT Jobs among Highest-Paying in Albania
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ICT Jobs among Highest-Paying in Albania

TIRANA, September 10 Albania might not be among the highest paying countries for information and technology careers, yet ICT jobs are on the list of the highest-paid positions. The recent report on wage data in Q2 2020 issued by the Institute of Statistics (INSTAT) shows that only the financial and insurance sector pays more than...

Albania Keeps Unchanged Position on Global Innovation List
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Albania Keeps Unchanged Position on Global Innovation List

TIRANA, September 3 Albania ranks 83rd among 131 economies featured in the annual Global Innovation Index (GII), 2020 released on Wednesday. Albania maintained the same position as in 2019 and 2018. The index defines the ranking of world economies based on their innovation capabilities. More specifically, it takes into consideration 80 indicators that are grouped...

Made in Prison, Inspired by Freedom
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Made in Prison, Inspired by Freedom

TIRANA, September 1 Objects, like humans, have a story to tell. They carry the stories of their makers and are shaped based on their wishes. This can be the reason why most of the objects made by the women in Prison 325  are shaped like birds, butterflies, ladybugs, and other creatures that are free to...

€1.6 billion Laundered in Real-Estate in Albania during 2017-2019
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€1.6 billion Laundered in Real-Estate in Albania during 2017-2019

TIRANA, August 28 The laundering of illicit money through real-estate and construction in Albania was estimated at Euro 1.6 billion during 2017-2019, the recent report on Illicit Financial Flows in Albania, Kosovo, and North Macedonia, by Global Initiative confirms. According to the report, which follows a model provided by the United Nations on Financing Development,...

Albania’s Agriculture Exports Rise despite COVID-19
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Albania’s Agriculture Exports Rise despite COVID-19

TIRANA, August 19 Albanian farmers who contribute to about 18 percent of the country’s Gross National Product (GDP) were able to increase the volume of exported fruit and vegetables during January-June 2020 by 11.6 percent. Even though they were affected by the COVID-19 pandemic and the restrictive measures during March, agricultural production continued. However, farmers...

Why Do Foreign Companies Relocate to Tirana?
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Why Do Foreign Companies Relocate to Tirana?

TIRANA, August 17 The Albanian capital remains the favorite destination for foreign companies and joint ventures that decide to relocate to the country. Based on the data provided by the National Business Center, about 65.7 percent of foreign companies are based in Tirana, Scan TV reported. According to the National Business Center, 6,443 companies out...

Could New Law Spell End for Shell Companies in Albania?
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Could New Law Spell End for Shell Companies in Albania?

TIRANA, August 14 The latest Basel AML Index hit the headlines on Friday because it ranked Albania second among the European major money laundering destinations. Meanwhile, the country ranked 44th in the global ranking with a risk score of 5.69. While each country has different risks, Albania performed poorly for the quality of anti-money laundering...

Albanians, Top Global Consumers of Table Olives
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Albanians, Top Global Consumers of Table Olives

TIRANA, August 3 Albanian produced 98,313 tons of olive in 2019, official data from the agriculture sector confirmed. A year-over-year comparison shows that the numbers fall behind compared to 2018 when olive production reached 117,573 tons or nine percent more than in 2017. In the meantime, olive oil production in 2019 was 20,038. Only 174...