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Albanian Times, Vol. I, No. 4, November 5, 1995From: Albanian Times <AlbaTimes@aol.com>The Albanian Times (by AlbAmerica TRade & Consulting International) DirectoryIn this issue:CONTENTS[1] Fund Chief Calls on Albanian-Americans to Help[2] Albania Exempts Air Company from Income Taxes[3] Wages-a priority, prime minister says[4] Government Announces Bid for Purchase of Electric Pumps[5] Austria has Hotel, Other Projects in Albania[6] Albania to Redesign its Currency[7] U.S. Senate Approves $6 Million for Kosova[8] Greece Continues to Deport Illegal Albanians[9] Turkish-Albanian Invests in Native Village[10] Albanian-American Dentist Offers Aid to Albanian School[11] Currency Exchange Rates on November 6[1] Fund Chief Calls on Albanian-Americans to HelpDomenick Scaglione, head of the Albanian-American Enterprise Fund, called on the Albanian-American community to join forces in helping Albania's economic revival. In a call to the community on November 4, Scaglione said the Fund is ready to assist any and all types of joint ventures that American companies want to establish in Albania. "We give priority to those ventures that create employment opportunities in Albania and those that promote productive capacities to substitute imports and produce goods for exports. We look for equity participations and loans to those entities that can demonstrate ability to work profitably," Scaglione said in a statement published by Illyria, a New York based Albanian-American newspaper. The fund chief invites the Albanian community "to make Albania well known in the U.S. and the world and to protect its name against half truths and misconceptions at all levels." The Albanian-American Enterprise Fund was set up by the White House in January this year and is set to operate on a $60 million budget.
[2] Albania Exempts Air Company from Income TaxesAlbanian parliament has exempted the Air Transport Company (Albtransport) and the Air Traffic National Agency (ATNA) from all customs and income taxes to spur reconstruction of Rinas airport. According to the legislation passed by Parliament on November 2, the exemption will be lifted when all money borrowed for the remodeling has been paid off. In May 1993, the government approved a $230 million modernization project for the 30 more years old airport. Officials expect the exemption will enable the Albanian side to observe a remodeling agreement with Germany's Siemens AG, which in 1993 won a tender on the project. About $30 million will be invested on the first stage of the remodeling. The low interest credit will be paid off in a 10-12 year term through airport income. A proposal requiring the exemption from income taxes of foreign experts working on the project was rejected by deputies.
[3] Wages-a priority, prime minister saysAlbanian Prime Minister Aleksander Meksi said wage reform is among the government priorities, ATA reported on November 4. "Wage reform is not only a political issue but an issue which stands above the changes in ruling parties," Meksi said. The Albanian Prime Minister said over the last three and a half years the wage system has improved and salaries have increased. He urged for better cooperation with trade unions to review salaries in specific sectors.
[4] Government Announces Bid for Purchase of Electric PumpsAlbanian government has announced a bid for the supply of irrigation and drainage pumps and auxilliary electrical accessories. The government has received a credit from the Internatinal Development Association (IDA) toward the cost of the Irrigation Rehabilitation Project. Part of the proceeds will be applied to the payment under one or more contracts for the supply of such equipment. Bidding will be conducted through international competitive bidding procedures under World Bank procurement guidelines, and is open to all bidders from eligible source countries. The Ministry of Agriculture and Food as the implementing agency will collect all sealed bids by November 17. (For contacts call: Project Management Unit, Irrigation Rehabilitation Project, Ministry of Agriculture and Food, Tirane. Tel/fax: 355-42-23835)
[5] Austria has Hotel, Other Projects in AlbaniaA four-star Austrian built hotel in downtown Tirane will receive official inauguration in late November, hotel management said. Rogner hotel chain has invested more than $20 million in the venture and was assisted by the European Bank for Reconstruction and Development, the EBRD, which has a majority holding in the 140 room hotel. The "Europapark" complex is complete with swimming pool, garage parking and bar. General Manager Reinhardt Schmidt says Rogner plans two more projects in Albania -- a tourist village on the southwestern Ionian coast, and resort facilities in the northwestern Lure district. Austria has pledged Albania $12.5 million in aid for improving the country's hydro-electric power network, a housing project in Shkoder, northern Albania, and the construction of a commercial bakery. An offshore oil-drilling licence has been granted to the Austrian state-controlled OeMV oil company.
[6] Albania to Redesign its CurrencyAlbania plans to give its money a new look, Bank of Albania officials said. Authorities plan to replace all existing currency within 1996, to "eliminate all the flaws in the existing money". Officials said with all the changes in the Albanian market, "minting 5, 10, and 50 qindark coins doesn't make sense any more." The new currency will appear in coins of 1, 5, 10, 20, 50 and 100 Leks and notes of 100, 200, 500, 1,000 and 5,000 Leks. The redesigned bills will be smaller and harder to counterfeit due to added watermarks, visible and invisible fibers, holograms and other security features. 50 per cent of the new features will be recognizable by the layman. Among the alterations: the new notes will feature past national leaders, the coins will echo more distant periods with portraits of Illyrian kings. In 1964, Albanian currency underwent a major redesign. Other major reprints followed in 1976, 1992 and 1994.
[7] U.S. Senate Approves $6 Million for KosovaThe U.S. Senate approved on November 1 the Foreign Appropriations bill for Fiscal year 1996, which includes $6 millions earmarked for humanitarian assistance for Kosova. Earlier, the House had approved the bill which had emerged from a House-Senate conference a few days before. Senate majority leader Robert Dole amended the Senate version in order to provide the funding, which then received the Senate approval. The bill now faces an uncertain future at the White House.
[8] Greece Continues to Deport Illegal AlbaniansAbout 175,000 illegal Albanians have been deported by Greece on the first 9 months of the year, Athens News Agency reported. Police say the deportations are of little deterrence and that the deportees often return to Greece. They claim that the mountainous terrain of the Greek-Albanian border, and a lack of security on the Albanian side, prevents them from taking effective action.
[9] Turkish-Albanian Invests in Native VillageA Turkish-Albanian businessman is investing part of his fortune on a lumber factory in his native Albania. Selauding Bisha, President of Besa Company is spending $200,000 to build a factory in Vinjolle, a village in the northern district of Mat. The factory would process 20 m3 lumber a day and employ about 30 people with monthly payments up to $150. Besa already has branches in Tirane, Vlore and Gjirokaster. Mr. Bisha has donated $70,000 to rebuild the elementary school of the village.
[10] Albanian-American Dentist Offers Aid to Albanian SchoolA dentist of Albanian background will be volunteering her services to help raise money for the University Dental Clinic in Tirane, the New York based newspaper Illyria reported on November 4. Dr. Ana Kohen, with a hygienist and assistant, will provide oral cancer screening exams and cleaning to 20 new patients 17 years of age and older for $50. The usual cost for the procedures at her office is $150. The money collected will be used to purchase TV sets, VCRs and other equipments for the University Dental Clinic at Medrese, Tirane. Dr. Cohen can be reached at 212-751-7725.
[11] Currency Exchange Rates on November 6ALBANIA LEK 92.42BULGARIA LEV 68.737 CIS 45.19 CROATIA KUNA 5.2394 CZECH KORUNA 26.31 ESTONIA KROON 11.40 HUNGARY FORINT 135.35 LATVIA LAT 0.54 LITHUANIA LITAS 4.00 POLAND ZLOTY 2.461 ROMANIA LEU 2260.00 SLOVAK KORUNA 29.54 SLOVENIA TOLAR 120.22 UKRAINE KARBOVANET 180359.0 YUGOSLAVIA NEW DINAR 1.425 |
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