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Bank of Albania puts on sale 40 ml EUR 2 year fixed bonds
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Bank of Albania puts on sale 40 ml EUR 2 year fixed bonds

Bank of Albania has put on sale 40 ml EUR 2 year fixed bonds, after recently selling 3.5 bl ALL two year fixed bonds with a fixed interest rate on behalf of Ministry of Finances. Based on the results of the auction, the demand of financial institutions for the buying of long term governmental bonds...

Euro remains strong against the Albanian Lek currency
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Euro remains strong against the Albanian Lek currency

Euro rates still remain stable in the currency market compared to Albanian Lek, even with the coming of emigrants and foreign tourists during this summer season. Euro strengthened considerably against the ALL. According to the official rate of Bank of Albania in the currency exchange market 1 EUR exchanges with 139 ALL, a value considered...

Businesses require the cut of VAT
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Businesses require the cut of VAT

Tirana Chamber of Commerce and Industry has announced the compilation of a fiscal package which will be presented to Ministry of Finances with the purpose of reviewing the 2015 budget by the Ministry. This fiscal package will be sent at the Ministry within October and one of the most important requests will be the cut...

New businesses opened in Kukes city
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New businesses opened in Kukes city

National Registration Center has published new data regarding the opening of new businesses during the first months of this year. More than 50 new enterprices established in Kukes city, have been registered at NRC, . The number of new enterprices continues to increase in this city but one of the main problems, according to the...

VAT tax of 10% for the usage of state owned land banks and facilities
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VAT tax of 10% for the usage of state owned land banks and facilities

New amendments to VAT law on state owned land and facilities anticipate that the tax collected for the usage of state owned lands will be considered as a national tax. Individuals who are using unprivatized land banks and commercial legal persons who have won the right to use state owned lands pay the tax on...

Deposits of businesses increase by 5.4%
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Deposits of businesses increase by 5.4%

Albanian Association of Banks expressed concerns about the increase of deposits of businesses, which means lack of investments and insecurity. According to the latest declaration by this association, businesses in Albania are depositing their earnings in banks instead of investing them in their businesses or in opening new enterprices. The deposits increased in the first...

Intensive controls on permits in the mining sector
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Intensive controls on permits in the mining sector

Ministry of Energy and Industry has announced the cancellation of 150 permits for businesses that operate in the mining sector and about 85 other businesses have been fined with administrative measures. According to official declarations of the Ministry of Energy and Industry, the mining sector is undergoing a general control with the aim to discipline...

AAB: The bank system is well capitalized and is showing a stable performance
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AAB: The bank system is well capitalized and is showing a stable performance

The Albanian Association of Banks has published the latest unaudited financial data of trade banks for the second trimester of 2014, according to which, the Albanian bank system continues to be well capitalized and shows a stable performance. Capital adequacy ratio reached 17.5% from 16.8% reported in the same period a year ago. In late...

Agricultural products’ prices have declined
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Agricultural products’ prices have declined

In the recent days, economy experts have noticed a price decline in domestic markets of agricultural products, compared to the last week of July, though these prices are higher than a year ago. According to official data, the vegetable prices resulted 25.1% higher compared with a year ago. While, circa 40% of agricultural and some...

Exxon Mobil company present in the Albanian market
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Exxon Mobil company present in the Albanian market

The world famous “Exxon Mobil” company has signed an exclusive contract with the Albanian company “Kastrati” for the distribution of its products in Albania for the first time. Albanian consumers will be able to be supplied with crude products produced by the largest company in the field of oil, Exxon Mobil, which has an average...