Albania is in a precarious situation at the moment. We are faced with a prevailing cultural acceptance of complacency and corruption. This reality had periodically made itself known to me during my summer trips back to Albania. Truthfully, however, this
TIRANA, Aug. 30, 2024 – The discovery that 800 tons of industrial waste, suspected to contain hazardous toxic substances, were exported from Albania’s port of Durrës — likely originating outside the country — has sparked a major international investigation, raising
TIRANA, July 25, 2024 – The Qatar Fund for Development (QFFD) has signed a grant agreement with the Municipality of Tirana to establish Qatar Square, a significant development in the heart of Albania’s capital. The €11 million project, to be
TIRANA, July 21, 2024 – About 112 millions of euros aimed at helping Albanian farmers prepare for being part of the European Union have been suspended indefinitely due to prior misuse of the similar funds by Albanian government agencies, parliament
TIRANA, July 4, 2024 – The Bank of Albania has shifted direction for the first time since March 2022, easing its monetary policy by reducing the key interest rate by 0.25 percentage points. The Supervisory Council of the Bank of
TIRANA, May 29, 2024 – Demand for coastal properties in Albania has surged by 20-30 percent compared to last year, according to the Albanian Builders Association. Key areas like Vlora, Palasa and Saranda are particularly popular, with 40 percent of
TIRANA, May 26, 2024 – An Albanian court has ordered the arrest of several individuals in connection with a credit collections scheme that allegedly defrauded thousands of citizens. According to the prosecution, a non-banking lender and collection enforcement companies orchestrated
TIRANA, May 11, 2024 – It’s the bright spot in Albania’s image: the country is currently seeing a boom in international tourist visits. But most foreign tourists are spending too little money and their input has not been enough to
Albanian businesses and individuals have for years complained that bank transfers — both domestic and international — are costly and slow. SEPA membership would help solve the problem. TIRANA, Apr. 30, 2024 – Albania has started procedures to join the
TIRANA, March 26, 2024 – The Standard & Poor’s (S&P) credit rating agency, one of the three largest in the world, has upgraded Albania’s long-term sovereign credit rating by one notch, pushing it for the first time into ‘BB-‘ from
