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Standard & Poor’s Affirms B+/B Rating for Albania
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Standard & Poor’s Affirms B+/B Rating for Albania

TIRANA, February 4 Standard & Poor’s affirmed its ‘B+/B’ long- and short-term sovereign credit ratings on Albania as well as a stable outlook. (see below rating scale) “The stable outlook reflects our view that Albania’s economy will expand by just under 4% over the next years; fiscal deficits will remain limited, and gradually narrowing current...

Eurostat: Albania has the Lowest Minimum Wage in Europe
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Eurostat: Albania has the Lowest Minimum Wage in Europe

TIRANA, January 31 Despite the decision of Albanian authorities for increasing the minimum wage from Lek 24,000 to Lek 26,000 per month starting January 1st, Albania still ranks among the European countries with the lowest minimum wages. By the end of 2018, Albanian employees were paid a monthly minimum of Euro 210. According to the...

Competition Authority Repeals New Dental Services Prices
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Competition Authority Repeals New Dental Services Prices

TIRANA, January 29 The Albanian Competition Authority announced the immediate reversal of the decision on dental services price floor. The list of fares for these services was adopted by the National Assembly of the Dentists Order. According to the Competition Authority, the decision is against the law on Competition Protection. Moreover, the Authority highlights that...

Vlora-Shkodra Railway to Undergo Rehabilitation
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Vlora-Shkodra Railway to Undergo Rehabilitation

TIRANA, January 21 A project on the rehabilitation of Vlora-Shkodra has begun. This was announced by Deputy Minister of Infrastructure and Energy (MIE) Artan Shkreli during the weekend. Shkreli made the announcement on Facebook. “The project execution phase on the rehabilitation of Vlora-Shkodra railway began following the feasibility study,” Shkreli said. Moreover, he added that...

Telekom Albania Sold for €50mln
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Telekom Albania Sold for €50mln

TIRANA, January 16 OTE agreed to sell Telekom Albania Sh.a for the amount of Euro 50 million to Albania Telecom Invest AD. The latter is a Bulgarian company controlled by Spas Roussev and Elvin Guri. Roussev is a shareholder of Vivacom, the Bulgarian telecom operator. Meanwhile, Guri is an Albanian-Bulgarian investor. Chairman and CEO of...

New Tirana-Memmingen Direct Route to Start in September 
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New Tirana-Memmingen Direct Route to Start in September 

TIRANA, January 16 Bavaria, one of the German federal states where a large number of Albanians live will be a nonstop destination starting 1 September 2019. Tirana International Airport announced on Wednesday that Wizz Air will start a new low-cost service directly from Tirana to Memmingen in September. The new route will serve to Albanian...

Kosovo Customs Office Inaugurated at Durresi Port
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Kosovo Customs Office Inaugurated at Durresi Port

TIRANA, January 15 “Starting today, Kosovo has its own seaport,” deputy Prime Minister of Kosovo Fatmir Limaj said on Tuesday during the inauguration of the customs office in Durresi Port. The ceremony follows the decision signed during the joint governmental meeting held in November in Peja. Kosovan companies will have the opportunity to speed up...

Albanian becomes Official Language in Macedonia
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Albanian becomes Official Language in Macedonia

TIRANA, January 15 Speaker of the Macedonian Parliament Talat Xhaferi announced on Monday evening that the Law on Languages was published in the Official Gazette almost one year after it was first adopted. This means that the Albanian Language is the second Offical language in Macedonia. Xhaferi made the announcement on social media. The Macedonian...

Road Authorities Warn Drivers to Stay Safe on Icy Roads
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Road Authorities Warn Drivers to Stay Safe on Icy Roads

TIRANA, January 14 The Albanian Road Authority (ARRSH) informs over the road conditions across the country as snow began falling on Monday. According to ARRSH, icy roads in the northern region were treated with salt. Anti-slip chains are required in the following road sections: Domaj- Draje Rec Qafe Mali- Fierza Ura e Cerenecit-Stebleva Kuben-Vasije Peshkopi-Qafe...

WB: Albania’s Economy to Slow to 3.6% in 2019
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WB: Albania’s Economy to Slow to 3.6% in 2019

TIRANA, January 11 While the outlook for the global economy has darkened, Albania’s economic growth is projected to slow down from four percent in 2018 to 3.6 percent in 2019. The World Bank (WB) said this on its January 2019 edition of the Global Economic Prospects (GEP) report. According to the World Bank, Albania’s GDP...