Tirana-Times-February-1-2013 LPA Law Firm Albania Company Formation

February 1 - 7, 2013.
Vol 8 / No 4 (399)
TIRANA TIMES
www.tiranatimes.com Weekly L. 350
Euro 3
A Very Simple Answer

By Alexander A. Arvizu U.S. Ambassador to Albania
Page 7
Albania-Azerbaijan relations beyond TAP

Interview with Ambassador of Azerbaijan to Albania Rahman Mustafayev Page 8
Albanians Everest climb in an exhibition

Page 17
Farewell CEZ
What the Czech energy giants departure says about the tough realities of doing business in Albania Pages 3,4
Govt to lift income tax on low wages ahead of elections

Five months ahead of the general elections, Prime Minister Sali Berisha has undertaken another step to reduce the tax burden for people receiving low wages. Speaking at a meeting with his Democratic Party MPs this week, Berisha said the 10 percent personal income tax, launched in 2008 as part of a flat tax reform, will be lifted for monthly wages of up to 30,000 Lek (Euro 210). This is not only a 10 percent increase in wages, but at the same time huge support to enterprises and the labour market, said Berisha.
Continued on pages 5
Central bank cuts key interest rate to historic low of 3.75%

Announcing the Bank of Albania decision to lower the key interest rate by another 0.25 percent, governor Ardian Fullani said the move was aimed at increasing sluggish consumption and investments by easing lending in the national currency.
Continued on page 9
EDITORIAL
CEZ case not universal

The failure of CEZ in Albania has shown it can be tough for a foreign company to do business in this country, but the reasons behind the failure are specific to this particular case, and other foreign companies should not be scared to invest in the future.
Albanian authorities and Prague-based CEZ Group have officially parted ways in what will likely be a lose-lose situation for both sides. Albania's reputation as a place where privatizations and foreign investments bring returns has been challenged. Albania and CEZ now face a protracted arbitration fight over investments already made.
Continued on page 6
LPA Law Firm

Company Formation, Debt Collection, Legal Due Dilligence, Employment, Legal Assistance, Tax, Banking, Commercial Real Estate
Rruga e Bogdaneve St. EuroCol Tower, 5th Floor, Tirana, Albania info@lpalbania.com www.lpalbania.com Office: +355 4 48 05 499
CMYK
2 | TIRANA TIMES - FEBRUARY 1 - 7, 2013
NEWS
Tracking one third of Albanias population that lives abroad

TIRANA, Jan. 31 - Peoplemovin, which covers migration flows around the world, reports that 1,438,451 Albanian citizens live outside the country. The figures from the Peoplemovin, which aggregates data from several sources, show Albania has some 4.2 million citizens, of which 2.9 million live in Albania. Albanian authorities have no number on the Albanian immigrants abroad and often different figures are listed. Most figures come from neighboring Greece or nearby Italy, though this is the first time a global compilation has been assembled. But it is also not clear whether all the number given from the Peoplemovin are Albanians who have migrated and still have the Albanian citizenship, or not. In some countries they are forced to leave the Albanian citizenship when they take on another, like the cases of Austria and Germany for example. The figures also show how many Albanians are in separate countries. We know that officially there are some 676,000 Albanian immigrants in Greece though in practice the figure could be up to one million as many of them have yet to get Greek documents. Peoplemovin also shows that 522,647
Police seize drugs headed for Italy

TIRANA, Jan. 26 - Police have seized almost 1.5 tons of cannabis destined for Italy. The cannabis was found at a speedboat near the northwestern Albanian city of Shkoder, close to the border with Montenegro. But police could not arrest any trafficker who managed to flee. Preliminary investigation showed that the drugs would be taken to Italy, via Montenegro. Albania is considered a major transit zone for narcotics and the main provider of marijuana in Europe, according to international police reports. Fighting drug traffic remains a top priority for local police who regularly seize different amounts from north to south. Nearby Italy and neighboring Greece are the two main target markets for Albanian traffickers but they also exploit other neighboring Balkan countries to take drugs to western Europe.
American flu arrives in Albania

TIRANA, Jan. 29 - Albanian health authorities say that there have been five cases of the dangerous new flu virus originating the United States. They called on the health personnel and also on the common people to take good care of any suspected case. They also said there is no room for panic as there is no epidemic but it is good to be vigilant. Health authorities say there have been some 13,000 people touched from the normal flu virus and only five with the AH3N2, the new strain. H3N2 is a subtype of the viral genus Influenza virus A, which is an important cause of human influenza. Influenza A virus subtype H3N2 (also H3N2) is a subtype of viruses that causes influenza (flu). H3N2 Viruses can infect birds and mammals. In birds, humans, and pigs, the virus has mutated into many strains. H3N2 is increasingly abundant in seasonal influenza.
Albanians live in Italy, 91,128 in Macedonia, 83,018 in the United States, 15,964 in Germany, 11,985 in Canada, 3,712 in Turkey, 3,065 in Britain, 3,037
in France and 2,628 in Australia. There are Albanians in other countries as well. Albanians are a small part of about 216 million migrants worldwide.
Three Albanian sailors in Yemen limbo

TIRANA, Jan. 29 - Three Albanian sailors have been arrested and are on trial in Yemen accused of illegal ammunition trafficking, the local media reported referring to the Yemeni news agency. Captain Ari Bakillari, officer Mihal Cangonji and mechanic Nezir Shahaj were arrested at the Yemeni port of Al Mukalla in Dec. 19 last year together with two Indian sailors and a Greek one with the EOS ship flagged in Moldova. It belongs to the Greek company Eos Navigation SA administered from Coasters Maritime SA. The ship stopped there to get fuel and provisions. After the arrest it was found that the ship was carrying 180 tons of explosives and ammunition taken from Montenegro. The ship had come from neighboring Greece and then it was taken by the three Albanian sailors to go to Montenegro to get loaded with the ammunition of Serb production based on a contract. The ship had started the trip in July 17 and it reached Yemen in Dec. 16. It aimed at reaching the Iraqi port of Umm-Qasir. Yemeni authorities said that the ship had lost its way for five months. They also claimed that the Albanian captain had testified contradictory things on the ammunition load denying it was contrary to the local and international laws. The Yemeni authorities said the ship aimed to take the load to suspect groups, thus endangering the rule of law at the destination. The Albanian embassy in Saudi Arabia has been in contact and is taking care of the three Albanians in Yemen. The captains son in Albania has asked authorities to take care of them through a letter he has sent to the senior offices. He has written that the ship had a legal load of ammunition based on the NATO laws and a correct documentation. He says has not received any answer from the authorities. Captain Bakillari has been contacted by phone from the Shqip daily newspaper telling his version. He said that this is an IMO load verified as legal from the international authorities too, adding they had moved to Greece, Turkey, Egypt, Aden in Yemen and then to Kenya. He said there has been no problem with authorities in all those countries before reaching Yemen. He also said that he had continuously reported to the NATO office and Interpol during the trip. Bakillari also said they could not have a lawyer in their trial, but only a translator from English. It is only Bakillari who understands a little of English among the three. They could not be contacted from the journalists too. They feel abandoned at a time when the Greek and the Indian diplomats are taking good care of their citizens. No one from the Albanian diplomats has contacted them, he said.
Teenagers murderer get 25 years

TIRANA, Jan. 28 - The Durres district court on Tuesday sentenced Shaban Norja, 81, to 25 years imprisonment for the murder of the 18-year old Aishe Vata. The murderer earned a lower of the sentence from life imprisonment to 25 years because he acknowledged that he had committed the crime. In October last year Norja killed Vata and then cut her head and hid it. He claimed that Vata herself had asked for that after she had learnt she was pregnant. She had not agreed to stop the pregnancy. The old man and the teenager had an affair which their families were not aware of. The crime was committed in Xhafzotaj commune in Durres district. I do not know how I committed that crime. Only God ad me know how much I have repented, he said at the court. The murderer was wearing a bullet proof vest during all the sessions of the trial. His family members have totally neglected him and have not been present at all.
EBRD supports leasing in Albania

TIRANA, Jan. 26 - Last week, the European Bank for Reconstruction and Development , or EBRD, announced that it was supporting the development of the leasing sector in Albania with a five-year 1 million euro loan given to Landeslease that would expand its services to small and medium-sized enterprises (SMEs). The reasons for the loan -- when businesses continue to face limited access to bank loans, thus serving as an alternative funding source for the development of SMEs -- is another sign that the country is in a critical moment for its finances, despite government words that they are doing fine. The transformation of this small economy definitely needs funding support as it is still at an early stage of development. Since 2005 when it was launched the Landeslease is the second-largest leasing company in Albania focused on small and medium-sized companies. It has used the leasing of vehicles, equipment and machinery.
TIRANA TIMES - FEBRUARY 1 - 7, 2013 | 3
COVER STORY
What the Czech energy giants departure says about the tough realities of doing business in Albania
TIRANA - Feb. 1, 2013
Farewell CEZ
ast October, hundreds of drivers on the main four-lane highway linking Albania with Kosovo were stuck near the city of Kukes for several hours, as residents from the nearby villages blocked the road, angry that the power distribution company, CEZ Shperndarje, had cut off their electricity, citing nonpayment of bills. Some protesters said they had paid the bills. Others said they were too poor to do so. Nonetheless, there had been a collective cutoff. The protesters invaded the local power distribution station, which forced the company to shut off the power to the entire city, over safety concerns at the station. The situation went back to normal only after the company was forced to turn the power back on for everyone. The overdue bills simply went unpaid. This was just one of many similar incidents the Czech state-owned CEZ Group faced in the last few months as it tried desperately to save its business in Albania, CEZ Shperndarje, which managed Albanias power distribution system. CEZ went as far as switching off power to public companies like water supply systems which had not paid their bills an action that landed some of the companys employees in police custody and forced the Albanian government to resort to a court order to force the company to back off, arguing CEZ had committed an unprecedented act which severely compromises citizens security, public security and the countrys national security. Within weeks, the verdict was in CEZ wanted out putting its Albanian business up for sale. For CEZ Shprndarje was not acceptable to constantly subsidize Albanian citizens and state institutions, which are not used to pay for their electricity bills, Barbora Pulpanova, a spokeswoman for CEZ Group, tells Tirana Times. And the Albanian authorities angry the Czech company had failed to fulfill its contractual investments and increase payment levels wanted CEZ out too. The Energy Regulatory Entity, ERE, took away CEZ Sherndarjes license and placed a state administrator at the helm of the company. In effect, authorities nationalized CEZ Shperndarje, the first time in post-communist Albania this had happened to such a large company. EREs head, Sokol Ramadani, said the company was being stripped of its license because of not fulfilling contractual obligations, plunging the system into collapse and risking massive power cuts. He identified CEZs failure to cover its rising grid losses with imports as the key reason for the removal of the license. Since September 2012, when CEZ declared its financial inability to carry out
its compulsory power imports, state-run power corporation KESH was forced to carry out all imports, a situation which further deteriorated the utilitys finances and forced government to award several loan guarantees to secure power supply. CEZ Shperndarje is responsible for damage caused to ERE, the Albanian government and market operators. The Council of Ministers is charged with immediately acting on the expropriation of CEZ Shperndarjes assets at a fair compensation under procedures foreseen in the law on expropriations and temporary takeover of private property for public interest, EREs commissioners wrote in their decision. The dispute is now headed for international arbitration, because the Czech company says it doesnt trust the local courts to deliver a fair verdict, a practice in line with what major investors do in many other countries as well. Prague-based CEZ Group says it is very optimistic it would be successful at the arbitration court asking for some 200 million euro in lost investments. No matter the outcome, the case of CEZ and the realities it faced in Albania will be a case study for years to come both for foreign companies wanting to do business in Albania as well as for future privatizations and Albanian joint ventures with large foreign investors. While the saga might be over, independent experts say the outcome appears clear: Independent experts note some of the learned lessons include: Doing business in Albania is no picnic, and often things universally understood and accepted in a developed economy dont function in Albania. But they also note CEZ is not entirely innocent in the affair, failing to
deliver on promised investments and unable to navigate Albanias cultural issues any better than when the company was state owned. The sweet deal that turned sour It wasnt supposed to be this way. When Czech energy giant CEZ arrived in Albania back in 2009 to take over the countrys power distribution network by purchasing the state-owned monopoly, OSSH, the sale promised millions for state coffers and massive improvements to Albanias problematic power distribution network. CEZ would give 102 million euros for 76 percent of OSSH and promised 400 million more in investments to the grid. Plus, Albania gained a major, credible foreign investor with billions of euros in capital. Almost four years later, much of the promised investment never materialized, and there was a major public spat between the company and the government each accusing each other side of owing millions. The Albanian government says CEZ owes state-owned power corporation KESH and transmission operator OST around Euro 300 million in unpaid bills. CEZ also claims Euro 165 million euros from Albanian state institutions, of which Euro 38 million by water supply companies. Finance Minister Ridvan Bode had earlier warned government was concerned because of CEZs performance negatively affecting public finances and the budget. The government awarded KESH Euro 14 million from its contingency funds in early 2012 to make electricity imports and Euro 40 million few months later and is also negotiating
with the World Bank over a new USD 100 million loan to cash-strapped power corporation to secure electricity imports. CEZ says this was an Albanian government problem and it should have not been burdened on the foreign investor. The situation in Albania got more complicated early last year when, due to the drastic drought of last year, the Albanian state-owned company KESH had to import power from abroad for much higher prices, which brought it on the verge of bankruptcy, says Pulpanova, adding the Albanian government had to give KESH money to keep it afloat. The local government tried to resolve the situation with a decision unprecedented in Europe: All costs were placed on the shoulders of the foreign investor, CEZ Shprndarje, she added. The Albanian authorities focus on other items as well. In its detailed report of 110 pages over CEZs violations, ERE identifies that consumers complaints filed over overbilling, and economic damage climbed to 1,720 in 2012 up from 350 in 2010 and 1,019 in 2011. ERE says that grid losses at the end of 2012 climbed to around 45 percent, higher than 32.7 percent at the end of 2008 when the distribution system was under state management. Under the regulatory agreement approved by ERE, grid losses should have dropped to 24 percent at the end of 2012. CEZs investments during the past two years also failed to meet set targets. CEZ invested around 2 billion lek (Euro 14 million) in 2011 and 934 million lek (Euro 6.5 million) in 2012 fulfilling only 39 percent and 14 percent of the annual targets respectively. Political consequences When CEZ arrived in Albania back in 2009, the Czech Republic held the rotating presidency of the European Union, and Albania had just officially applied for membership. Such a large Czech investment in Albania appeared to be an excellent match of political and economical interests intertwining. Fast forward to 2013, and revocation of the license of CEZ has sparked anger in Prague which has said it will hurt Tiranas chances of joining the European Union. Czech Prime Minister Petr Necas warned the move by Albanian regulators would hurt Tiranas chances of joining the European Union and gave his governments full backing to CEZs decision to seek financial arbitration over the dispute. I see the removal of a license from CEZ, the largest Czech investor in the region, by the Albanian authorities as a very negative signal for the traditionally very good and friendly relations between the two countries, Necas told reports. For membership in the European Union, Albania must show that it is a state which respects the rule of law and observes the
Continued on page 4
NEWS
U.S. urges end to nationalist rhetoric

TIRANA, Jan. 29 U.S. Ambassador to Tirana Alexander Arvizu on Tuesday met with the leadership of the Red-andBlack Alliance Party, urging them to focus on patriotism instead of nationalism. The ambassador said the aim is to stop further nationalistic rhetoric, which is exploited for political purposes. The partys leader, Kreshnik Spahiu, and his political grouping started a petition on the 100th anniversary of independence asking for the union of Albania with Kosovo. They have handed it over to the Central Election Commission with a request to hold a referendum. Despite harsh rhetoric protecting the interests of Albanians in relations with Greece and Serbia, the RBA has made it clear it doesnt want any conflict with Albanias strategic international allies -the United States and the European Union. Political competition is good; in any democracy you need to have political competition, said Arvizu. We also talked about the importance of any responsible political party in Albania and
Continued from page 3
U.S. Ambassador Alexander Arvizu met with Kreshnik Spahiu, leader of the Red-and-Black Alliance Party, urging him to focus on patriotism instead of nationalism
its obligation to continue what is critically important to the United States and that is to continue to be a force for stability and moderation in the region. I urged Mr. Spahiu in the sense that patriotism is a good thing, but its
important in your platform and in your agenda to avoid the temptation to slip into nationalist rhetoric, which can counter the stability and the moderation that we talked about. Prime Minister Sali Berisha has
escalated his own national rhetoric in recent weeks, prompting concern among Albanias neighbors and allies. Analysts say the rhetoric is tied to the parliamentary elections, which are less than five months away.
basic rules which govern the standard market environment. The report worried Albanian authorities enough to immediately call the Czech ambassador to Tirana for a meeting. Albanian Deputy Prime Minister and Energy Minister Edmond Haxhinasto said the very good relations between the countries should be separated from the problems of the commercial dispute. After the meeting with the Czech ambassador he added: Every call to mix these two problems is damaging and does not help anybody. A tough business environment But in addition to likely financial losses for both Albania and CEZ, the break up carries perception costs that cant be immediately calculated. It tells a lot about the difficulties of doing business in Albania and the state of the countrys development, something prospective foreign investors will likely weigh in. CEZ says its case is a negative commentary for the case to invest in Albania. For foreign investors this is a clear signal that in Albania is unstable and unpredictable business environment, says Pulpanova, the CEZ spokeswoman. Senior government officials also admit that the failure of such a large strategic privatization doesnt look good for Albania, but that this was a unique case. The departure of a big investor such as CEZ is not good news. It was an investor which could have helped us in the electricity area, but they showed they did not meet criteria in performance and revenues. We cannot risk the Albanians interest for the sake of a reputable company, Finance Minister Bode said in a recent interview with and Albanian television.
Farewell CEZ
CEZ Shperndarje issued several publicity campaigns trying to convince Albanians to fully pay for their bills. Screen grab from the companys website. Pavel Cyrani, the chief strategy officer at CEZ Group says Albania was the exception to the rule of other CEZ investments in the Balkans It is important to mention that the overall performance of foreign acquisitions is excellent. CEZ has already recouped 71 percent of its investment. For example, CEZs efforts in optimizing operating costs and reducing grid losses in Bulgaria and Romania were successful, he said in an interview with Prague Post. EU experts note that many of the problems Albania faces demand a cultural shift. The laws on the books might be up to par with EU standards, but their implementation often is not. Local experts also note that cultural shift is nowhere more evident that 40 to 50 percent of the electricity in Albania goes to network losses a large portion of which is electricity which is used but not paid for. Many parts of the country simply use the energy without paying hiding behind improper infrastructure or
corruption. As a result, many Albanians families and institutions do not pay their electricity bills either because they cant afford to do so, or because they claim they are owed money themselves, Albanian analysts note. The CEZ situation is also a hot potato for the government which entering an election year is unwilling to do anything that would upset potential voters. But at the end of the day, it was a dispute about money, and running a profitable business that led to the divorce. The Albania Government claims that CEZs failure to fulfill its contract obligations over imports, investments and reducing grid losses has caused the state USD 1 billion in damage which will probably end up as a claim when the dispute is examined by an international arbitration court. CEZ says it has launched legal steps to activate a 60 million euro ($76.8 million) guarantee issued by the World Bank for its powerdistribution operations in Albania. CEZ received its guarantee from the World Bank, already active, as an incentive to take over Albanias OSSH power distributor in 2009. Cyrani told the Czech newspaper that financial pressures from authorities not allowing to reflect higher energy costs in the prices for Albanian consumers as well as banning the company from effectively collecting even the low payments for supplied electricity when police forced it to reconnect state-owned waterworks that have long failed to pay their electricity bills. Such a situation is not at all sustainable for us. Our team has been and still is working very intensively to solve the situation in Albania, but the behavior of the Albanian side is very unpredictable, he said.
NEWS
Govt to lift income tax on low wages ahead of elections

Prime Minister Berisha says the 10 percent personal income tax, launched in 2008 as part of a flat tax reform, will be lifted for monthly wages of up to 30,000 Lek (Euro 210)
TIRANA, Jan. 29 - Five months ahead of the general elections, Prime Minister Sali Berisha has undertaken another step to reduce the tax burden for people receiving low wages. Speaking at a meeting with his Democratic Party MPs this week, Berisha said the 10 percent personal income tax, launched in 2008 as part of a flat tax reform, will be lifted for monthly wages of up to 30,000 Lek (Euro 210). This is not only a 10 percent increase in wages, but at the same time huge support to enterprises and the labour market, said Berisha, admitting that the initiative will mostly help the private sector, especially the garment and footwear industry which employs more than 60,000 people as wages in the public sector overwhelmingly stand above 30,000 lek. Commenting on his Facebook profile, Prime Minister Berisha said some 200,000 private sector workers and 15,000 public sector employees would benefit from the removal of the 10 percent personal income tax, equal to one extra monthly wage. Reacting to the Prime Ministers proposal, the opposition Socialist Party which has introduced a progressive taxation system in its electoral programme, said the Prime Minister was copying part of the SPs programme. Urging the Prime Minister to apply a full progressive taxation for wages, the opposition said fair taxation means that whoever earns less will pay less and whoever earns more will pay more. The opposition Socialist Party has proposed a progressive taxation system to replace the of total employment in Albania. The private non-agricultural sector accounts for 27.6 percent while the private agricultural sector has a 47 percent share. The official unemployment rate was kept at almost the same levels 13.3 percent level only thanks to the private sector which in the third quarter of 2012, the peak of the tourism season, hired an extra 10,688 people compared to the previous second quarter taking the total number of employees to 272,667. The proposal by the Prime Minister comes soon after the ruling Democrats approved last December a new fiscal package which lifts VAT on investments in priority sectors, reduces taxes on coffee importers and tightens measures against informality. Government had earlier decided to lift the 20 percent VAT on imports of machinery and equipment as well as cement and steel for the construction of hydropower plants. The 20 percent VAT on imported machinery and equipment will be lifted only for investments of Lek 50 mln (Euro 351,000) or more. The changes were approved in Parliament on December 20 and are expected to enter into force starting from next January.
10 percent flat tax in an effort to lower tax burden for people with low income. Albania has been implementing the 10 percent flat tax on salaries and corporate taxes since 2008 in an effort to improve business climate and attract more foreign direct investment. However, data show the implementation of this tax has had minor impacts during the past few years since government revenues from this tax have increased by only 8 percent in the 2008-2011 period. In the first 11 months of 2012, personal income tax was up only 0.8 percent but down 5.9 percent compared to set targets, according to Finance Ministry data. Employees receiving low wages will still have to pay a compulsory 11 percent in social security and health insurance. Social security contributions currently stand at 24.5 percent, of which 15 percent is paid by employers and 9.5 percent by employees. Meanwhile, health insurance contributions are at 3.4 percent, shared by 1.7 percent between employers and employees. INSTAT data show the average
monthly wage for people employed both in the private and public sectors was at 34,767 lek in 2011. The average wage in the public sector climbed to 46,655 in 2011 while since mid-2012 the minimum monthly wage stands at 21,000 lek. The public sector provides only 17.7 percent
Prime minister pushes for referendum on integration

TIRANA, Jan. 29 - Prime Minister Sali Berisha used his Facebook page to again push the idea of holding a referendum whether the three remaining laws required from the European Union rules should be approved. The three draft laws have remained not voted in parliament because they need the votes of the opposition, or three-fifth of the 140-seat parliament, which cannot be reached without the opposition. The opposition says that before voting those laws the government should apply the existing ones and refers to the violation of the court laws for a conflict of the local power in the southwestern city of Fier. They say Europe needs more the application of the laws rather than passing on paper new ones. The Socialists have said they will vote the laws in after the June elections. But Berisha and his governing Democratic party insist that they should be voted before the polls and blame the opposition of acting stalling countrys integration. Albania has applied for the EU candidate status since 2009 but it has got negative responses from Brussels that has set a number of laws and reforms to be passed. It is also clear now that holding free and fair elections in June is of fundamental importance to the integration steps. Experts note Berisha is using the laws as part of the electoral campaign. It is not clear if that is what is holding up the integration process, as EU will likely also focus on what happens in the upcoming parliamentary elections, which are always problematic in Albania.
CMYK
EDITORIAL
TIRANA TIMES
An independent Albania-based English-language newspaper Published by THNEGEL Ltd. BUSINESS MANAGER Jorgji Qirjako PUBLISHING DIRECTOR Jerina Zaloshnja - Rakipi EXECUTIVE EDITOR Andi Balla ASSOCIATE EDITOR Albert Rakipi FOREIGN RELATIONS Klajdi Malo JOURNALISTS Ervin Lisaku Dhimitr Gjodede Rudina Hoxha CONTIBUTING EDITORS Lutfi Dervishi Frank Ledwidge ADVERTISING & SALES Ervin arka ervin@tiranatimes.com DESIGN&LAYOUT Bujar Karoshi
ADDRESS: Rruga Andon Zako ajupi, Pall. 20/5, Tirana, Albania TO CONTACT US: Tel: +355-4-440-0083 Fax: +355-4-440-0085 E-mail: editor@tiranatimes.com TO SUBSCRIBE: subcribe@tiranatimes.com For home delivery, 1 year subscription 17500 Lek or 140 Euro TO ADVERTISE IN THE TT: advertising@tiranatimes.com Look at website: www.tiranatimes.com At newstands: 350 lek or 3.00 Euro
CEZ case not universal

The failure of CEZ in Albania has shown it can be tough for a foreign company to do business in this country, but the reasons behind the failure are specific to this particular case, and other foreign companies should not be scared to invest in the future.
Albanian authorities and Prague-based CEZ Group have officially parted ways in what will likely be a lose-lose situation for both sides. Albania's reputation as a place where privatizations and foreign investments bring returns has been challenged. Albania and CEZ now face a protracted arbitration fight over investments already made. No matter the outcome of the international arbitration, the case of CEZ and the realities it faced in Albania will be subject of study for years to come both for foreign companies wanting to do business in Albania as well as for future privatizations and private Albanian joint ventures with large foreign investors. CEZ will be an example of the fact that doing business in Albania is no picnic, and often things universally understood and accepted in a developed economy - legal enforcement on payment of bills and credit worthiness of customers - don't function as well in this country as they do elsewhere. But CEZ, which has been successful in doing in places like Romania and Bulgaria what it couldn't do in Albania, is not entirely innocent in this affair. It failed to deliver on promised investments and proved unable to navigate Albania's cultural issues any better than when the company was state owned. Complaints of unfair billing practices jumped and losses spiked after the private company took over, authorities note. That is not to say the company is to blame that many Albanians still don't see electricity as a good like anything else, which comes at a price that must be paid. Albanian authorities were also not as supportive as they should have been. Both Albania and CEZ were also unlucky. Drought and the heavy reliance on hydro-electric power production negatively affected the entire chain in the power supply. State-owned power producer KESH nearly went bankrupt and the government had to bail it out. Privately-owned monopoly CEZ, sandwiched between KESH and consumers, understandably did not want to share any of the burden. But perhaps the more worrying factor here is the political one. The Czech government, which owns CEZ Group and on which CEZ yields immense power, has warned the move by Albanian regulators would hurt Tirana's chances of joining the European Union. (CEZ is so powerful in Prague, the Czechs sometimes jokingly call their country the CEZ Republic, according to The Economist.) Mending fences with Prague might be hard for Tirana, but the decision to boot CEZ out was clearly a calculated risk for the Albanian government. It simply couldn't afford the losses the relationship with CEZ was leading to. The Albanian government says it aims to keep politics and the economy separate, but in this case they are not. At the end of the day, it is the perception of Albania as an unstable and unpredictable place to invest that should worry Albanian officials more than anything. Losing a strategic privatization doesn't look good for Albania. However, CEZ was a unique case - a monopoly that was part of the life of every Albanian family and institution - and which faced a very specific set of circumstances in Albania's complicated energy sector. Other privatizations have gone far better. A huge example is Albtelecom, the once state-owned telephony monopoly privatized by a Turkish group. Unlike CEZ, Albtelecom has thrived in Albania, transforming Albania's access to internet and landlines with far better services than when it was state-owned. This, despite facing high competition from smaller companies. The failure of CEZ in Albania has shown it can be tough for foreign company to do business in this country, but the reasons behind the failure are specific to this particular case, and other foreign companies should not be scared to invest in the future.
OPINION
A Very Simple Answer

By ALEXANDER A. ARVIZU U.S. Ambassador to Albania Albania celebrated its 100th anniversary in November. It was a time to be proud, a time for reflection on the countrys success in overcoming great turmoil to become a NATO member and EU aspirant. Now, as Albanians look forward to the June 23 Parliamentary elections, we stand at the beginning of a new chapter in Albanias history -- one that should be defined by flourishing democracy indisputably built upon the will of the people. Traveling around Albania, I find common themes in my conversations, regardless if it is in Shkodra or Gjirokastra, Vlora or Elbasan. Albanians are worried about real issues - employment, providing for their families, health care, education, environmental degradation, and crime to name a few. Many have complained to me that the political leadership (and here let me be clear respondents speak of both the ruling coalition as well as the opposition) seems solely focused on personal or party interests rather than on solving these widespread problems. As Albanians prepare to embark on this new chapter, one element of change seems to rise above all others in terms of importance: the way elections are conducted in Albania, specifically the need to shift focus on the people, with government institutions and political parties serving the peoples interests. When Secretary Clinton addressed parliament, she made one clear plea to elected officials in the audience to ensure that the upcoming elections are free and fair, and seen as such by the world, so that the people of Albania can have faith in the results and democratic institutions, and trust in their leaders. Democracy is not a concrete bunker that isolates the political leadership from the people. On the contrary, elected officials have the obligation to serve in a responsible manner and to use their positions of power to benefit all citizens. Leaders must earn the peoples trust through a transparent, free and fair process. Furthermore, political parties behavior directly impacts the publics confidence in the election. As Albanias most steadfast and enduring international friend and partner over the years, the United States calls on the government and all political parties to focus on strengthening the publics faith in the electoral process and trust in their leaders. Let me state a simple, painful truth: public faith in the electoral process is low. Consequently, so is ours. In a strong democracy, the government and political parties have a responsibility -- make than an obligation -- to earn the trust of the people. They can do this by cooperating within electoral institutions, by deliberating avoiding political trickery, and by abstaining from destructive and inflammatory language in public rallies or party literature. Messages that threaten other individuals or incite violence in any form will only erode the confidence that candidates and parties are willing to work together. The legitimacy of any government resulting from the next election will depend on how the parties behave during the coming months. The government has the solemn obligation to act accountably, transparently, and impartially. This is a key tenant in the Copenhagen criteria, which defines whether a country is eligible to join the European Union. Furthermore, the government must be inclusive and nonpartisan in the institutional decision making. The ruling party has the responsibility to encourage trust by actively seeking consensus through compromise and dialogue. No less important, the opposition must commit to participating constructively in the process, and avoid threats to block or to boycott. Everyone is responsible for cooperating fully with law enforcement and other agencies to promote the security and integrity of the electoral process. When I think about Secretary Clintons speech, one particular passage stands out. She explained that people frequently ask her how she could work with President Obama after having fought so hard against each other in the 2008 Presidential campaign. Its a very simple answer, she said, we both love our country. Love for country means putting national interests above party interests. It means doing everything possible to keep partisan politics out of electoral institutions. Love for country means voting freely and responsibly. Love for country is borne of actions, not words, with an eye toward the next 100 years of nation building. With June 23 soon approaching, I call on all Albanians to start a new chapter with these elections, to put aside individual and party interests, to insist on accountability from the political class. More than anything, I appeal to you to accept individual responsibility for making this happen. For only individual Albanians putting Albanias interests first can build the just, democratic society that will make present and future generations of Albanians justifiably proud. And make Albania the country you love.
EU and immigration: Fear-mongering

By Eastern Approaches Economist.com FOR the Daily Mail, a populist British daily prone to anti-immigrant rhetoric, a recent report by MigrationWatch, a lobby group, was grist to the mill. It said that starting in 2014after the lifting of European Union (EU) restrictions on Romanians and Bulgarians working in EU countriesRomanians and Bulgarians will add between 30,000 and 70,000 to Britains population in each of the next five years. It also warns that the Roma are a wild card in connection with future migration from these countries. The Daily Mail also pounced on the recent admission by Oliver Letwin, a British government official, that he did not know how many will be coming when Britain fully opens up its labour market to Romanians and Bulgarians. Before Poland became a member of the EU in 2004, the Home Office, Britains interior ministry, predicted that between 5,000 and 13,000 Poles would come to Britain every year. Within two years 264,560 had arrived. This time the government has refrained from making a forecast. On January 16th Stewart Jackson, a conservative member of parliament, presented a bill calling for limits to be imposed on the immigration process for Romanian and Bulgarians coming to Britain. We dont want to make the same mistake that we made in 2004, which was to import a very large number of lowwage, low-skill workers and embed 2004 only Britain and two other countries did away with almost all restrictions for workers from A8 countries. Because it was the largest economy of the three and its economy was booming, Britain became a magnet for them. This time, all EU countries are opening their labour markets Romanians and Bulgarians. And Britains economy is in dire straits. Titus Corlean, Romanias minister of foreign affairs, believes the figures being circulated in the British press for the number Romanians who will immigrate to Britain next year are wildly exaggerated. According to MrCorlean the issue has become a British domestic political game, kindled by the United Kingdom Independence Party, an insurgent outfit devoted to Britains withdrawal from the European Union. He is relying on the British government to respect what is written in the European Treaty for the accession of Romania, that from January 1st 2014 there will be a free access for Romanians to the labour market in Britain. Surveys show that immigration is one of Britons biggest concerns. A report by British Future, a think-tank, has revealed that people worry more about immigration as a national than a local issue. Its State of the Nation poll found that 19% chose immigration as a top local worry while 30% placed immigration first when thinking about tensions facing British society as a whole. This suggests that immigration is more a problem of perception than of reality.
welfare dependency in our indigenous workforce, he said. In a speech last month, Theresa May, the home secretary, said that migration puts downward pressure on wages and has a bad influence on the social cohesion of the country. Mr Stewart and Ms May omit to mention the positive effects of the last big influx of workers from new EU member countries. It was vastly higher than predicted, but it was also more successful than forecast. According to a study conducted by The Migration Observatory at the University of Oxford, migrants from so-called A8 countries (the eight countries that joined the EU in 2004) made a positive contribution to the countrys
public finances in each fiscal year since their EU accession. Although they mostly work in low-wage jobs, their labour-force participation and employment rates tend to be higher than average, which offsets the impact of their lower wages. A number of studies show that immigrants are slowing the ageing of Britains population. And despite the popular belief that a new wave of immigrants will increase unemployment, the National Institute of Economics and Social Research says there is no aggregate impact of migration on unemployment. Perhaps most importantly, Britain today is less attractive to would-be immigrants than it was ten years ago. In
INTERVIEW
Albania-Azerbaijan relations beyond TAP

Opening new areas for bilateral cooperation
So, what are the results of the visit, what can we expect in this sphere of bilateral cooperation? First of all, our delegation, headed by Minister A. Rahimov, had very fruitful meetings and discussions with Prime Minister S. Berisha, Speaker the Parliament J. Topalli, Minister A. Bumci, Mayor of Tirana L. Basha and the Rectors of the University of Tirana D. Kule and University of Sports of Tirana V. Rizvanolli, during which wide range of bilateral cooperation issues and concrete projects in the field of youth and sports were discussed. Important fact is that the legal basis for partnership in this field was established, and interministerial Cooperation Program in the field of youth and sports for 2013-2015 was signed. This document will provide for strengthening of cooperation between relative sport institutions, National Sports Federations and National Olympic committees of two countries, promote the realization of joint youth activities. During our meeting at the Prime Minister Sali Berisha and Minister of Youth and University of Tirana we have Sports of Azerbaijan Azad Rahimov agreed with our Albanian colleagues on implementation of The fact that these Games have been "What do I know about Azerbaijan" essay entrusted to us, that we have been given competition among the students of the this responsibility, of course, is an event University. The idea of this project is to of great historic importance. If you add to send 10 winners of this contest to this, that in 2016 we will host World Chess Azerbaijan for cultural tourism. This is Olympics and in 2017 - Islamic Solidarity joint project of ministries of Youth and Games, you will understand, that Sports and Foreign Affairs, which have Azerbaijan plays increasing role in world been already realized in more than 15 sports movement. countries of Europe, Asia, Middle East and At the same time, we have continued Africa among the students of 40 efforts to develop the sports infrastructure. universities, academies and colleges. This The number of Olympic sport centers built project proved to be a very efficient in different regions of Azerbaijan has mechanism for youth and cultural reached 35. The construction of eight other exchanges, strengthening relations sportive complexes is under way. between young people of different All these achievements are the result of countries. And we hope that Albanian the great attention given by the government students will successfully join this project. and the president of the country to the development of sports and transformation Last year was marked by high activity of Azerbaijan into a truly sporting country. in the development of bilateral relations In general, this particular field of sportive between our countries. What are the plans activities plays increasingly important role of your Embassy for 2013? in social and economic life and development Indeed, we are really witnessing of our country. And we are ready to share strengthening bilateral political relations all these achievements and experiences with between Azerbaijan and Albania in the our Albanian colleagues. course of 2011-2012. Our countries are As far as youth movement is concerned, opening to each other more and more, and I would like to mention, that the President you are right, last year was very active and of the country approved in 2010 state successful in terms of high-level visits and program "The youth of Azerbaijan in 2011strengthening of legal basis for cooperation 2015", which plays important role of allin different areas. We had arranged with our embracing national program for Albanian colleagues official visit to development of national youth movement Azerbaijan of Prime-minister of Albania and and youth organizations, assistance in working visits of 3 Albanian ministers to implementation of different youth Baku, as well as official visits to Albania of programs in social, economic and cultural the Speaker of our Parliament (Milli Mejlis), fields, opening of "Youth centers" in minister of economic development and different regions of Azerbaijan (till now 18 minister of culture and tourism of the centers were opened and another 15 are Republic of Azerbaijan. under construction), promotion of As a result of this activity, we elaborated international cooperation of Azerbaijani solid agenda of bilateral relations, youth organizations.
Interview with Ambassador of Azerbaijan to Albania Rahman Mustafayev
Mr. Ambassador, Minister of youth and sports of Azerbaijan Azad Rahimov recently paid an official visit to Albania. What was the purpose of this visit? This visit should be considered as another concrete and important step in the process of strengthening comprehensive cooperation between two our friendly countries. So the main purpose of the visit was to open another one direction in Azerbaijani-Albanian cooperation agenda, to establish legal basis for cooperation in the fields of youth and sports, to promote direct contacts between national sportive and youth associations and organizations and implement concrete projects and programs in these fields. In recent years Azerbaijan achieved great success in the field of sports and youth., can you tell us a little more about this? Yes, you are right. Azerbaijan has become a recognized leader in the world sports movement, one of the leading European countries in terms of the number of international sportive events, held nationwide. For example, the year 2012 has been very successful for Azerbaijani athletes. In 2012, they won more than 700 medals in various international competitions, including 255 gold. Our country has hosted a number of prestigious international competitions. Among them, I want to emphasize the World women football cup U-17. The presidents of FIFA and UEFA have both praised the championship held in Azerbaijan as one of the most successful championships. Of course, speaking about sports events of 2012, we cant but mention the London Olympic Games. In these Olympics, our athletes have achieved the greatest success, delighted all our people and succeeded in making Azerbaijan one of the leading sporting nations. Ten medals, including two gold, two silver and six bronze this is our historic achievement. It is the 30th place in the world, and the 15th - in Europe. On December 8, the session of the General Assembly of the European Olympic Committee in Rome decided to award the first 2015 European Olympic Games to Baku. This is also a historic decision. First of all, these will be the first European Games. Although the Olympic movement historically originated in the European region and the modern revival of the Olympic Games also occurred on the European continent, European Olympic Games have never been held before. The first such games are a serious step, a turning point in the Olympic movement.
comprising of political, economic, energy, cultural and even city-to-city cooperation issues. Establishment of legal basis of our cooperation is also under way - we have 6 basic agreements signed, and 8 are in the process of consideration. At the end of last year we arranged in Tirana - with the partnership with the Ministry of tourism, culture, youth and sports of Albania concert of Azerbaijani music, performed by our famous jazz pianist Emil Afrasiab and his group, which opened to local audience and music-lovers the world of Azerbaijani classical and jazz music. So, all these visits and events proved once more, that our countries have serious intentions to develop bilateral relations in all areas, and that Baku and Tirana consider each other important partners at present and for long future. In the year of 2013 we plan to keep this positive trend in our relations with more focus on implementation of concrete projects and programs. We have in our schedule for the first half of this year official visit of deputy prime-minister, minister of economy, trade and energy, Mr. Haxhinasto, to Baku with the aim at discussing concrete projects in the fields of economy and energy. We also hope that Albanian delegation headed by the Minister of tourism, culture, youth and sports will take an active part in the 2nd World Forum on Intercultural Dialogue, which will be held in Baku on May 29-June 01 under the patronage of H.E. Ilham Aliyev, the President of the Republic of Azerbaijan, Ministry of culture and tourism of Azerbaijan, UNESCO, ISESCO, Council of Europe, UN Alliance of Civilizations, UN World Tourism Organization. I would like to mention, that initiative of holding a high-level international annual forums in Baku devoted to various aspects of peaceful coexistence and dialogue between different cultures and religions of the world has been proposed by the President of Azerbaijan at the 65th session of the UN General Assembly on September 23, 2010 and was supported by leading international organizations. The 2nd Baku Forum on Intercultural Dialogue will be one of the major political and cultural events in our country this year and we would like to see our Albanian friends and colleagues in Baku. And the last but, may be, the most important thing is, that we strongly believe, that this year will mark - if TAP project is selected as final route for the export of Azerbaijani gas to Europe - stronger cooperation between our countries in the field of energy security. Azerbaijan is ready, as I have already mentioned on many occasions, to cooperate bilaterally with the Government of Albania to decide jointly how TAP`s success could contribute to our bilateral cooperation in the field of gas sector development in Albania. We are also ready to share with the government, public and private companies of Albania our experience in the development of oil and gas sector, and are open to discuss and implement concrete projects in this field on the basis of feasibility and mutual advantage.
CMYK
BUSINESS & ECONOMY

Announcing the Bank of Albania decision to lower the key interest rate by another 0.25 percent, governor Ardian Fullani said the move was aimed at increasing sluggish consumption and investments by easing lending in the national currency
By ERVIN LISAKU TIRANA, Jan. 30 - Albanias central bank has made a new cut to the key interest rate taking it to a historic low of 3.75 percent in an effort to give a new impetus to the countrys ailing economy suffering crisis impacts from the Eurozone partners, and problems at home with sluggish consumption, high levels of public debt, and a sharp drop in lending as bad loans have reached a record 22 percent. Announcing the Bank of Albania decision to lower the key interest rate by another 0.25 percent, governor Ardian Fullani said in a press conference this week the move was aimed at increasing the sluggish consumption and investments by easing lending in the national currency. Low inflation pressures have allowed the Bank of Albania to cut the key interest rate by 1.5 percentage points to a historic low of 3.75 percent since Sept. 2011 in an effort to stimulate the economy but the moves have been poorly reflected in lower loan interest rates and an increase in investments. Bad loans at a record 22 percent, tighter lending standards and falling demand for new loans by both businesses and consumers have led to credit growth dropping as low as 4 percent at the end of 2012 compared to record high growth rates of 30 to 40 percent in the pre-crisis period until 2008, and a moderate growth of 10 to 12 percent even from 2009 to 2011. In its latest report on Albania the IMF suggests that if domestic demand were to weaken further and credit to contract, then the authorities could consider further monetary easing, provided inflation expectations remain well anchored. However, the effectiveness of such a policy would be limited by sluggish credit demand and bank risk aversion in a weak economy, and could result in exchange market pressures, warns the report.
Central bank cuts key interest rate to historic low of 3.75%

The governor said the Bank of Albania expects the economy to grow at the same 2012 levels affected by lower external demand because of unfavourable developments in trade partners and the low level of diversification of Albanian exports. GDP growth slows down With an average growth rate of 1.5 percent during the first nine months of 2012, the Albanian economy is reflecting clear signs of crisis from the Euro area partners and developments at home where domestic consumption and exports remains sluggish, and public debt now beyond the previous legal ceiling of 60 percent of the GDP poses a real threat to the countrys macroeconomic stability The third quarter performance proves governments reviewed GDP growth target at 3 percent for 2012 is an impossible challenge and that more realistic forecasts are needed in the initial budgets. Under a normative act last December, government cut the 2012 budget by 15.8 billion lek (Euro 111 million) to 381 billion because of underperforming revenues. The growth rates for the first three quarters of 2012 are in line with forecasts by international financial institutions such as the IMF and the World Bank which expect the Albanian economy to grow by 1 percent in 2012 and around 2 percent in 2013, citing impacts from Eurozone crisis and high public debt levels. The Albanian economy shrank by 0.2 percent in the first quarter of 2012 and grew by 2.1 percent in the second quarter of the year, registering the poorest firsthalf performance since the collapse of the notorious pyramid schemes in 1997. Short-term statistics published by INSTAT show that despite top industries registering increases in their turnover indices, almost all of them cut staff, lowered wages or indexed them only to inflation. Albanias economy slowed down significantly in the first half of 2012, but some growth returned in the third quarter, largely as a result of recovery in manufacturing and extractive industries. However, Albanias strong trade, investment and remittance ties to Greece and Italy, both of which face continued economic gloom, are likely to continue to constrain growth in the coming year, and the high level of public debt, at close to the statutory limit of 60 per cent of GDP, will limit the room for fiscal manoeuvre, says London-based EBRD in its latest outlook report. The EBRD expects the Albanian economy to grow 1.8 percent in 2012 and 2 percent in 2013.
Bank of Albania Governor Ardian Fullani
Albanias annual inflation rate dropped to 2 percent in 2012, down from 3.5 percent in 2011, according to international financial institutions. Albanias central bank itself estimates that by preserving the inflation rate around the 3 percent rate, the monetary policy will continue having positive contribution to the development of the Albanian economy. The latest cut to the key interest rate by 0.25 percent to 4 percent in July 2012 positively contributed to lower T-bill yields and lek-denominated interest rates. Yields on 12-month T-bills dropped to 6.53 percent in the latest January 29 auction, down from 6.6 percent previously, and a record 7.5 percent in March 2012. Meanwhile, average interest rates on lek-denominated loans climbed to 10.21 percent in November 2012, up from 9.11 percent in the previous month and 12.17 percent in November 2011. Average interest rates on Euro-denominated loans dropped to 7.3 percent in November 2012, down from 7.38 percent last October and 7.21 percent in November 2011. Interest rates on 12-month lekdenominated deposits dropped to 5.25 percent in November 2012, down from an average of 5.85 percent a year ago. The reduction in loan interest rates have been unable to increase lending which rose by only 4 percent during the first ten months of 2012. Latest central bank data show total
credit at the end of October 2012 was at 552 billion lek, up only 4 percent year-onyear. Compared to the end of 2011, total lending during the first ten months of this year has increased by only 10 billion lek or 1.9 percent. Differently from loans, 63 percent of which are issued in foreign currency, mainly in Euro, the situation with deposits appears more balanced with lek deposits accounting for 52 percent of total deposits. Pessimism among both businesses and consumers is on the rise while banks are expected to further tighten lending standards, according to quarterly surveys conducted by the Bank of Albania. Below potential growth Speaking of Albanias economic performance, governor Fullani said that despite progress in the second half of the 2012, the Albanian economy remains below potential and sources of growth are unstable. The increase in production has not been reflected in the reduction of general uncertainties, which curb consumption and private investments as well as influence on the reduction of credit demand and supply. The banking system is healthy and liquid but continues being characterized by increased caution in financing long-term investments. These trends will condition economic developments even in the future, said Fullani.
BUSINESS & ECONOMY
High State Audit uncovers Euro 107 mln of abuses

Most damage was identified in the sale and rent of state-owned assets, worth 674 million lek
TIRANA, Jan. 30 - The High State Audit has unveiled 15.3 billion lek (Euro 107 million) of abuses in controls carried out in central and local government institutions during 2012. Inspections showed the direct economic damage is estimated at 13.5 billion lek, while financial damage is reported at 1.8 billion lek. The financial abuses belong to the economic and financial activity covering 2008-2011 period and the first 9 months of 2012. Most damage was identified in the sale and rent of state-owned assets, worth 674 million lek. The Ministry of Economy, Trade and Energy is reported to have caused a damage of 607 million lek in violations to concession contracts because of failing to collect concession fees. Procurements rank second with a total damage of 444 million lek of which 225 million lek only by the Interior Ministry. Several municipalities such as that of Saranda, Pogradec, Peshkopi, Berat etc have also caused the state budget 125 million in urban planning because of not
paying the infrastructure tax which stands at 1 percent of the investment value. Operating expenditure rank third with damage estimated at 104 million lek followed by violations in the salary system with 72 million lek. The customs system has also caused the state budget 62 million lek in damage while the tax
administration has abused 38 million lek The High State Audit says it filed 40 lawsuits for officials involved in abuse of office mostly in local agencies for the legalization and urbanization of informal zones, as well as municipalities and communes. The Audit also gave 1,221 disciplinary measures against abusive officials.
Insurance market growth accelerates to 7.8% in 2012

Data show insurance premiums in the domestic MTPL compulsory car insurance grew by 53 percent despite the number of insurance policies growing by only 3.7 percent compared to 2011. The MTPL market share rose to 42 percent in 2012 down from 30 percent in 2011
TIRANA, Jan. 29 - Fuelled by an increase in compulsory car insurance rates, Albanias insurance market rose by a moderate 7.4 percent in 2012, registering the biggest increase in the past three years. Data published by the Financial Supervisory Authority show total insurance premiums in 2012 reached around 9 billion lek (Euro 63 million), up 7.38 percent compared to 2011 despite the number of insurance policies falling by a sharp 19 percent. The market continued remaining non-life oriented with around 90 percent of the total premiums, leaving life insurance with a 9.8 percent share and reinsurance with 0.32 percent. Compulsory insurance continues holding the majority 51 percent of the market share. Paid claims, three-quarters of which belongs to car insurance, grew by 27 percent to 2.8 billion lek in 2012. Data show insurance premiums in the domestic MTPL compulsory car insurance grew by 53 percent despite the number of insurance policies growing by only 3.7 percent compared to 2011. The MTPL market share rose to 42 percent in 2012 down from 30 percent in 2011. Back in 2011, the liberalization of compulsory insurance market considerably affected revenues for companies operating in Albania with recent meeting with directors of the nine insurance companies operating in Albania, Enekeleda Shehi, the director of the Supervisory Authority warned the companies efforts to offer low rates not covering risks are short-term goals which could bring negative impacts on their financial stability in the long-term. She called on company officials to show more professionalism in determining insurance rates and claims. Currently, compulsory motor insurance rates have dropped to 6,000 to 7,500 lek annually, almost twice less compared to a couple of months ago. Tirana dominates insurance market with a 60% share The region of Tirana, where around one-third of the countrys 3.2 million population lives and most businesses operate, accounts for 60 around twothirds of the insurance market in Albania, according to a 2011 report published by the Financial Supervisory Authority. The report on Albanias insurance geography shows the region of Tirana, which includes the districts of Tirana and Kavaja constitutes 60 percent of the insurance market. Second comes the region of Durres with 7.89 percent followed by the southern regions of Fier with 5.45 percent and Korca at 4.96 percent. Insurance market share in the remaining regions varies from 0.59 percent in Kukes to 4.12 percent in Gjirokastra. However, Albanias per capita consumption of insurance although increasing by 385 lek to 2,937 lek is considered one of the lowest in the region. Albanians pay on average 25 dollars annually for compulsory and voluntary insurance of vehicles, as well as property and life insurance, a small amount compared to other European countries.
competition bringing lower fees. Data published by the Financial Supervisory Authority show new insurance premiums in 2011 reached 8.3 billion lek, up only 1.8 percent compared to 2010 despite the number of insurance policies registering a sharp 77 percent increase to 1.3 million. Back in 2010, the insurance market grew by 4.17 percent despite the number of policies dropping by 2.5 percent. In February 1 2012, rates for compulsory motor vehicle insurance more than doubled in a sudden unexpected move following a sharp drop after the market was liberalized in mid2011. The insurance market shrank by 15 percent in the first quarter of 2012 and
5.5 percent in the first half. Last October, eight insurance companies operating in Albania were fined a total of 89 million lek (Euro 625,000) after the Competition Authority uncovered a price-fixing deal in compulsory motor insurance policy. The deal was made in February 2012 when all companies fixed motor insurance prices in a banned deal severely damaging competition. Concerned over a sharp drop in compulsory car insurance rates over the past two months, the Albanian Financial Supervisory Authority has warned it will intervene in the already liberalized market if the companies do not reflect risks in calculating premium rates. In a
BUSINESS & ECONOMY

Minerals and fuels were the only products keeping crisis-hit Albanian exports growing at a moderate pace in 2012, at a time when the garment and footwear industry, until recently the top exporting industry, suffered a slight shrink
TIRANA, Jan. 29 - Affected by sluggish demand from crisis-hit EU partners, the destination of three-quarters of total exports, Albanias export growth rate halved in 2012 while imports shrank unveiling the poor domestic consumption, which is the key driver of economic growth. However, Albanias trade deficit narrowed and the exportimport coverage ratio rose to 40.3 percent in 2012 up from 36 percent in 2011 and 24 percent in 2010, according to data published by the state Institute of Statistics (INSTAT). Statistics show Albanian exports rose by 8.2 percent in 2012, down from 20 percent in 2011. In 2012, Albania exported 213 billion lek of goods (Euro 1.5 billion), up from 197 billion lek in 2011. Minerals and fuels were the only products keeping crisis-hit Albanian exports growing at a moderate pace in 2012. At a time when the garment and footwear industry, until recently the top exporting industry, and the construction material and metals are suffering a shrink in external demand, a 29 percent increase in sales of minerals, fuels and electricity in 2012 kept Albanian exports growing. The contribution is attributed to minerals and fuels as electricity exports in 2012 were negligible due to falling domestic hydroelectricity generation unable to meet even the countrys needs. At 76 billion lek (Euro 535 million) in 2012, exports of minerals, fuels and electricity ranked on top of the list, registering a 28.5 percent increase yearon-year. Chromium and copper are the most exported products in this category. The garment and footwear sector, one of the top employers and exporters in the past few years, continues suffering crisis impacts as demand from top EU partners falls. INSTAT data show textile and footwear exports failed to recover, shrinking by 3.2 percent to 60 billion lek in 2012. The garment and footwear industry, which employs more than 60,000 people now accounts for 28 percent of total exports, down from more than 30 percent in the previous years. Under the new fiscal package approved by Parliament, starting from January 2013 the 20 percent VAT on imported machinery and equipment has been lifted only for investments of Lek 50 mln (Euro 351,000) or more. However, Prime Minister Berisha has pledged the garment and footwear industry, the countrys top exporter, which this year has been suffering crisis impacts from lower demand by crisis hit EU partners Italy and Greece, will have VAT on machinery imports removed for all kinds of purchases.
Exports growth halves, imports shrink in 2012
Construction materials and metals ranked the third most important exports with 40 billion lek in 2012, down 3.7 percent compared to 2011. Exports in 2009-2011 Bank of Albania data available in Euro show exports continued to positively perform in 2011 despite the crisis-hit EU member countries, which are the destination of 70 percent of Albanias exports. Fuelled by ongoing rising demand from Italy, Albanian exports continued registering double-digit growth for the second year in a row after the shrink in the outbreak of the global crisis in 2009. Central bank data show Albanias exports rose by 19.7 percent to Euro 1.4 billion in 2011, compared to an annual growth rate of 56 percent in 2010 and an 18 percent shrink in 2009. Despite suffering severe debt crisis and its economy slowing down, Italy continued remaining Albanias top trade partner accounting for 53 percent of exports and 30 percent of imports. Detailed INSTAT data show the faon industry, producing garment and footwear products with imported raw material, continued remaining the top export performer also thanks to Arab spring turmoil and the removal of customs fees. Top trade partners Exports to top trade partner Italy, the destination of more than half of Albanian exports, have also been affected by the crisis there, with their growth rate slowing down. In 2012, Albania exported around 108 billion Lek of goods to Italy, up only 3.6 percent compared 2011, when exports grew by 28 percent year-on-year. Meanwhile, exports to Greece, the countrys second most important trade partner have been severely affected by the
crisis in the neighbouring country. Once the second destination of Albanian exports, Greece now ranks only the fifth most important partner with exports in 2012 at 9.4 billion lek, down 5.2 percent compared to 2011. Greece is the second most important partner for imports with trade exchanges accounting for 12.5 percent of the total. Crisis-hit Spain surprisingly ranks the second most important destination of exports in 2012 with around 20 billion lek, up 180 percent compared 2011. Kosovo ranked the third most important partner with 17.4 billion lek. Albanian exports to neighbouring Kosovo registered a 18.5 percent increase in 2012 despite trade disputes on potato and cement reference prices. Imports shrink While exports continue their moderate growth, the slight shrink in imports reconfirms the slowdown in domestic consumption in a net-import country such as Albania. Total imports in 2012 dropped by 3 percent to 528 billion lek, according to INSTAT data. The sluggish domestic consumption is also indirectly shown by the poor performance of the value added tax. Businesses hesitation about making new investments is also confirmed by imports of machinery and equipment which during the whole of 2012 dropped by 11 percent to 97 billion lek. The import list is topped by minerals fuels and electricity which rose by 8 percent to 110 billion lek. Imports of food, beverages and tobacco rose by only 1.3 percent to 93 billion lek in 2012. Lower imports contributed to the trade deficit dropping from 347 billion lek in 2011 to 315 billion lek in 2012. Italy accounts for 30 percent of total imports followed by Greece and Germany with 9 percent and 6 percent respectively.
Gas market liberalized

TIRANA, Jan. 30 - Albanias productive activities parliamentary commission has approved a draft law which liberalizes the gas market in Albania ahead of the expected approval of the TAP pipeline stripping Albpetrol oil firm of its distribution exclusivity. The draft law was approved this week, receiving only the votes of the ruling majority. An Energy Ministry representative said the legal changes precede infrastructural preparations on TAP and the IonianAdriatic, the two pipelines expected to pass through Albania. A misunderstanding that could come up in the future arose regarding TAPs application to transmit gas so the approval of this law was considered a necessity, said Stavri Dhima, a Ministry of Energy representative. The Albanian government had granted Albpetrol oil firm, whose privatization process has stalled, exclusive rights to distribute gas in Albania. Considered as the shortest and most economical route to bring Caspian gas to Europe, Albania officials hope the Shah Deniz consortium will decide on the Trans Adiatic Pipeline as the winning project. If selected as the winning pipeline to bring Caspian gas to Western Europe, the Trans Adriatic Pipeline (TAP), which also includes Albania in its itinerary, would have a major impact on the contribution to GDP, number of jobs created and tax revenues raised, a study conducted by Oxford Economics has found out. Rival Nabucco West pipeline passes Bulgaria, Romania, Hungary to end up in Austria will send gas to countries which have a huge dependency on Russian gas.
ADVERTISEMENT
CMYK
ADVERTISEMENT
CMYK
BUSINESS & ECONOMY
Administrative Court, unpaid bills top concerns for businesses

We call on the Finance Ministry to keep its promise of paying off debts to private enterprises in the first six months of 2012, says Nikolin Jaka of the Tirana Chamber of Commerce
TIRANA, Jan. 29 - The approval of the legal framework paving the way to the Administrative Court and the payment of accumulated debts to private companies are the two key requests the business community represented by the Tirana Chamber of Industry and Commerce has made to the political class ahead of next Junes elections. Speaking at a recent press conference, Nikolin Jaka, the head of the Chamber, called on the opposition to give its concent on the Administrative Courts system, and government to pay off accumulated debt to private companies, estimated at Euro 200 million, owed mainly to construction companies for finished public works. We call on the Finance Ministry to keep its promise of paying off debts to private enterprises in the first six months of 2012, said Jaka. Worried over the crisis impacts on Albanian enterprises and the tensioned environment ahead of the general elections, the Tirana Chamber of Commerce says it will soon introduce a detailed platform protecting the interests Privatization receipts should be utilized in a balanced manner, to reduce debt and clear unpaid bills. Given the weak state of the economy today, and the recent buildup of unpaid bills and VAT refunds, part of the receipts should also be used to clear the backlog, which will support growth in the near term, says the IMF. Administrative Court Ongoing political conflicts between the majority and the opposition this time over the deadlock in the Fier regional council, continue preventing the establishment of the Administrative Courts. Six months after the approval of the law in Parliament both the ruling Democrats and the opposition Socialists have failed to make some changes to the Supreme Court law needing a qualified majority of votes in order to complete the full legal infrastructure on the establishment of these courts ensuring the independent legal review of administrative decisions. Although supporting the changes to the Supreme Court law, the opposition Socialist Party has warned it will not give its consensus if the dispute in the regional council of Fier, a stronghold of the opposition, if not resolved. Both the majority and the opposition claim they have the head of the Fier regional council and the process is being legally examined in prolonged trials. The case is also holding back key reforms required by the European Commission after Albania was granted conditional candidate status as both parties refuse making concessions.
of enterprises in Albania. Government is expected to use part of Euro 110 million income collected from the sale of four small and medium sized enterprises to Turkeys Kurum to pay off unpaid bills to private companies. Unpaid bills The Albanian government owes the private sector in unpaid bills over Euro 200 million, according to economy experts and business representatives. The majority of unpaid bills, at an estimated
Euro 120 million, belong to the crisis-hit construction sector, followed by Euro 50 million to service companies and 12 million euros in unpaid bills to hydropower plants concessionaries for electricity purchases. Businesses also claim dozens of millions of Euros in VAT refunds. International financial institutions such as the IMF and the World Bank have also expressed concern over governments unpaid bills to the private sector, suggesting government to use privatization receipts.
Looking for a strategic INVESTMENT?

To the West: 1.5 km of Adriatic coastline To the East: Bordered by the rich agricultural lands of Seman village To the North: Lined by the Seman River and the Libofshe Commune To the South: Unexploited agricultural property
Apartment For Rent

Apartment located in very quiet neighborhood, close to Bllok area, walking distance to government and international institutions/organizations premises. The third and the forth floor (duple x) of a new building , (duplex) building, 281 m2. 3rd floor: living room, kitchen, 1 bedroom, bathroom, 2 balconies 4th floor: 4 bedrooms, 2 bathrooms, 2 balconies Mob. 069 20 23 778 E-mail: ervin@tiranatimes.com
1, 100 hectares of natural environment consisting of pine forests and other coastal shrubbery. Typical seaside climate, with plenty of sun and western breeze. Property is located just 17 km from the center of Fier, and paved roads reach until the beginning of the property. An intra-property two-way road with four lanes is currently being constructed. 97 km from Durres, and 127 km from Tirana. Property falls within the Fier region, which is set to begin strategic tourism development. All documentation for the property is completed and up-to-date. This property has been owned by the Vrioni family since 1916. THOSE INTERESTED MAY SEND AN EMAIL TO <ervin@tiranatimes.com>
BUSINESS & ECONOMY
Albanias Balfin Group acquires Bulqiza mine

Balfin Group, led by Albanian businessman Samir Mane, has also bought back Euromax retailer which it founded in 2005
TIRANA, Jan. 30 - TIRANA, Jan. 30 Albanias Balfin Group has acquired the Albanian subsidiary of Austria-based DCM Decometal which since 2007 has been operating the Bulqiza chromium mine, the countrys biggest. The transaction is revealed in an announcement by the Competition Authority which confirms Tirana-based Balfin Group, one of the biggest enterprises in Albania known for the development of shopping malls and its chain of retailers, has acquired Albanian Chrome, the Albanian subsidiary of Austria based DCM Decometal. The Authority says Balfin has acquired 100 percent of Albanian Chromes shares for an undisclosed amount. Since February 2007 DCM has been producing high grade chrome ore from the Bulqiza Mine in northern Albania. The mine employs 660 people and currently has an annual output of 82,000 tonnes of the lumpy ore and fines, at a grade of 40-45% chromite. DCM planned to invest approximately 15 million euros in extending the reserve base, improving the work and safety conditions for miners and increasing production capacity to approximately 100,000 tonnes. Austrias Albanian Chrome had failed
Tougher measures to curb illegal mining

TIRANA, Jan. 31 - In a task force meeting held this week, Energy Minister Edmond Haxhinasto called for an end to illegal practices in the mining sector so that efficiency increases and local communities benefit more. The mining sector is a very important branch of the Albanian economy in its trade balance, the development of rural areas and especially in increasing employment. Some 10,000 new jobs were created in this sector only last year, said the minister calling for an increase in safety measures. Government revenues from mining royalties rose to 5.2 billion lek in the first 11 months of 2012 up 2 billion compared to the same period in 2011, according to data published by the General Customs Directorate. Compared to 2009 when legal changes increasing royalty rates were not effective, collection has increased by almost seven times. Data show the customs administration collected 3.6 billion lek (Euro 25 million) in 2011, up from 2.1 billion lek in 2010 and only 893 million in 2009. The mining royalty varies from 4 to 10 percent based on the kind of mineral. For chromium and copper, two of Albanias most extracted minerals, the royalty is at 6 percent. The increase in royalty is also a result of the increase in the number of concessions government has been awarding in the mining sector. Data show some 770 mining permits are currently in force of which 150 are for exploration purposes. The new 2011-2014 strategy on the mining sector foresees a 5 percent increase in production. Under the new law, the local government units will benefit 20 percent of the mining royalty. Since 1994, when a new mining law was approved soon after the communist system collapsed, Albanian mines have been explored by private companies under mining permits and concessions. Currently, two main companies are involved in mining in Albania, Austrias DCM Decometal and Canadas Empire Mining Tirex Resources. Albania has around 390 million tonnes of unexplored oil reserves, some 3 billion m3 of natural gas, 740 million tonnes of coals, 32 million tonnes of chrome, and hundreds of tones of other iron-ore and copper reserves, proving the countrys rich mineral reserves despite the small territory it occupies. The findings are revealed in the latest mineral resources map of Albania, an updated version of 1971 and 1989 publications during the countrys communist regime. The map features Albanias metal and non-metallic mineral combustible materials and mineral waters in a computerized version accompanied by databases, also classifying the resources based on their importance.
to improve working conditions for Bulqiza miners who have been staging continuous strikes. Back in 2011, work was suspended for more than one month due to a massive hunger strike. The Albanian Economy Ministry fined ACR Lek 56 million (Euro 400,000, USD 560,000) for failing to make compulsory investments under the concession contract it has with the Albanian government. The ministry had earlier partially suspended Albanian Chromes licence for Zone D after a working group identified problems on working conditions risking employees safety and health and damaging the environment. Balfin Group, led by Albanian businessman Samir Mane, is also reported to have reacquired Euromax retailer, which he founded in 2005 and sold to Delta Group of Serbia in 2008. Mane reacquired the retailer from Delhaize Group, the Brussels-based retail
conglomerate, which in mid-2011 entered into an agreement to acquire the Serbian retail company Delta Maxi Group, which operates about 450 stores in five southeastern European countries, including Albania with 16 Euromax supermarkets. The Group is known for its shopping mall investments such as QTU and TEG in Tirana and most recently the Skopje City Mall in Macedonia. Tirana Logistic Park, a Euro 40 million investment by Albania-based Balfin Group and the Albanian-American Enterprise Fund is also under construction. Known for its innovation, Balfin was the first company to develop the concept of chain stores in Albania, the first to develop a shopping mall and the first to develop a Logistics park. The Rolling Hills Villas, a Euro 40 million proect of 110 luxury villas just outside Tirana, is Balfins innovative development.
IMF raises Albanias growth forecast

TIRANA, Jan. 30 - The International Monetary Fund expects the Albanian economy to grow between 1 to 2 percent in 2012, compared to a mere 0.5 percent in its October 2012 outlook, suggesting that the impacts from the European crisis have not been that huge. This is confirmed by Nadeem Ilahi, the IMF representative for Albania who in an interview for VoA in the local Albanian service warns 2013 will also be a difficult year for the Albanian economy, citing risks from key top trade partners Italy and Greece, high public debt levels and problems in the banking sector also identifying the need for structural reforms. Forecasts in these unstable times are difficult. When we saw the performance of the Albanian economy last October, indicators showed the economy was fragile. There are indications the impact from the crisis in Europe has not been that big. Our opinion is that growth will in fact be higher maybe more than 1 percent but we doubt it will reach 2 percent, says Ilahi. Last October, the IMF forecast the Albanian economy would grow by 0.5 percent in 2012 and 1.3 percent in 2013. Commenting on Albanias public debt, whose 60 percent of the GDP ceiling has been lifted making it the highest and most expensive in the region, Ilahi said the situation poses a threat to GDP growth in the future. The problem is that nearly half of the Albanian debt is short-term maturing in 12 months. Some 70 percent of the internal debt is held by the banking system which is overwhelmingly foreignowned and has been under pressure by the European financial crisis. Our advice to the authorities is that they must be careful in following these links. Nothing could happen, but the financial crisis in Europe could bring increased risks with debt at these high levels, adds Ilahi. Our advice is that measures must be taken to cut expenditure and increase revenues in order to keep debt in 2013 at the same levels and then gradually reduce it. Speaking of Albanias economic prospects for 2013, Ilahi stressed the need to preserve fiscal discipline in this electoral year. There are also structural problems to be solved by Albania such as the implementation of contracts and property rights, problems that impede foreign investment. There is also a problem with institutional reforms, such as the justice system reform, required for Albanias EU accession, which also requires political consensus. IMF proposal on higher taxes not welcome A proposal by the IMF to increase taxes personal income and corporate tax, currently at a flat 10 percent has not been welcome by both politicians and experts who argue that further increasing taxes in these times of crisis would be an inappropriate measure. Albanias tax revenue and primary spending to GDP ratios are low, yet the country has significant medium-term development needs. Staff proposed that the burden of future fiscal adjustment should fall largely on revenues. With Albanias VAT rate already relatively high, increasing the personal and corporate income tax rates will be necessary. The proposed rate increase would likely not affect Albanias ability to attract investment, particularly if arbitrariness in collection is reduced, local nuisance taxeswhich are inefficient and effectively add to the tax burdenare streamlined in a revenue neutral manner, and the priority business climate issues are addressed, says the IMF in its latest country report.
FEATURE
Meet the Artist Bio Effect

Artist guarantees three key elements of eating out: no smoking, healthy bio food and high quality of service
By Rudina Hoxha Who thinks that transferring a magnificent small part of forest in the center of the capital is just like crying for the moon is wrong now. Fresh air, sun rays, flowers, trees as well as plants and fruits just freshly cut, cooked and squeezed in the finest way possible can be found in this forest called Artist Lounge Restaurant, situated on a non-touched yet full of tree street aside of the Lyceum School in Tirana. The buzzword of this restaurant is art which is the root word of Artist. This means that any kind of food or drinks prepared here as well as the interior setting is driven by art as well as nature fevers. The person behind this creation is the 37-year old, Klodian (Nektar) Kume. If we compare this restaurant with an exhibition, he is the painter and the curator at the same time. Talkative in a nice way but very modest at the same time, Kume confesses that Artist, founded in November 2007, is his baby He takes care about it with the same passion as for a baby to grow fine and well. Artist guarantees three key elements of eating out: no smoking, healthy bio food and high quality of service and respect for anyone. Kume is obsessed with three of them to the point of bargaining with none of them. If anti-smoking law is not yet thoroughly and strictly respected in Albania, Artist haggles not a single case. It is very recent the case of a very wellrespected foreign businessman in Albania who liked so much to celebrate his birthday at Artist. He asked for Kumes permission, so his guests could smoke during the celebrations. The restaurant owner preferred to lose money rather than to allow people smoke inside this place. Though at the moment, the foreign businessman was somewhat angry, he appreciated so much the fact that the law was respected. I must admit, I have suffered clientele loss at the start of the anti-smoking principle but at the end, the clients, 60 % of which are foreigners, supported my anti-smoking as well as my entire management restaurant philosophy, Kume said. The guy, who can be considered a Jack of all trades, takes pride in the restaurant menu comprising various dishes and some 45 kinds of desserts, all bio. I am a fan of bio food because I believe thats the future of food, he said. He started working since when young and records a long experience in the food industry and tourism in the neighboring countries. I learned so much on the way. The passion to create is prevailing even on my cuisine. We use cooking methods that respect bio food and not food processing, he says. Through its menu, Artist promotes the philosophy of what does it mean to
eat healthy. Various vitamin juices, bio desserts and all kinds of fresh vegetables are within the clients reach. The taste is enriched with a perfect service and an atmosphere where clientele is used to feel comfortable even in a small place as artist is. When asked why not moving to a more spacious place, Kume answers easily: I
like it here, I like as small as it is. A more spacious place wont provide the same style and care. He confesses that it is not easy to find and train staff. He managed to attain what he wanted in this respect after some years of hard efforts while he still keeps an eye in everything. Otherwise you can not satisfy all the customers. He
prefers small and nice rather than big and less quality. When he returned home after many years abroad, Kume was astonished by the mushrooming highly-invested restaurants in Albania. What he soon realized was that there is a huge lack of quality and this is what he guarantees.
ARTS & CULTURE

TIRANA, Jan. 31 - More than 100 pictures featuring the courageous endeavour of an Albanian team of climbers to Mount Everest last year are being shown in an exhibition at the FAP gallery of the National Arts Gallery in Tirana. The same as climbing the Everest, taking pictures on the way to the Everest summit was very dangerous. One of our team mates nearly lost his hand because of wanting to take some more pictures, says climber Fatojon Plaku, also the organizer of the exhibition. A documentary and the equipment and clothing used to climb the Everest are also part of the exhibition which will remain open until February 3. On May 25, 2012, an Albanian team of climbers became the first to raise the national flag on the summit of Mount Everest, the worlds highest as an initiative commemorating the 100 th anniversary of Albanias independence. The Albanian climbers had already climbed the Mont Blanc and Kilimanajaro summits before deciding to take the risk of climbing the worlds highest peak at 8,848 metres above the sea level located in the Himalayas on the Nepal-China (Tibet) border.
Albanians Everest climb in an exhibition
Albanian Everest Expedition Team members Gjergji Bojaxhi, 38, Xhimi Begeja, 47, Gerti Pishtari,25, Fation Plaku, 36, Erlin Rudho, 23, and Etheo
Begeja,18, the youngest in team climbed the Everest Top with the support of Mountain Monarch team of sherpas. The Albanian Expedition Team made another
achievement of second time father & son ( Xhimi Begeja, and his son Etheo Begeja) climbing the Everest together in the history of Everest Climbing.
Two centuries of art by two renowned families

TIRANA, Jan. 31 - Two centuries of art, including iconography, photography, paintings, cinematography and music by the renowned Zengo and Antoniu families in Korca, southeastern Albania, are coming in a special exhibition in Tirana. Enin Pekmezi, one of the nephews of these families is for the first time introducing part of these artworks to the public in an exhibition which will be open at the Sheraton Hotel on February 1 and 2. Conceived in five time periods related to five big names from this family, the exhibition acquaints the public with early Albanian pictures and documents by photographer Jani Ndoni Zengo (Papajani) 1832 - 1912, iconographer Vangjel Papajani Zengo, the first Albanian female painter Androniqi Zengo Antoniu, lyrical singer Kristaq Antoniu and cellist Gjergj Antoniu.
Albanian artist Petraq Pecani at London Art Biennale

TIRANA, Jan. 31 - The Albanian painter Petraq Pecani was one of the 140 artists from 40 countries to participate in the London Art Biennale exhibition which took place from the 24th to the 26th of January, at Chelsea Old Town Hall. Pecani showed two oil paintings Morning in Sotir and The Old neighborhood, which had been selected along with artwork ranging from China to Brazil and from America to Europe. Highlights of the London Biennale included prominent artists that have been exhibited in some of the most important museums in the world as well as emerging artists who have been selected for their talent. Born in 1956 in Gjirokaster, Petraq Pecani has already exhibited in Tirana, Athens, Brussels, Barcelona, Bergamo and Milan. During the last years he has participated in the Biennale of Chianciano in Italy and in the International fair of Contemporary Art in Paris. He is based in Tirana where he exhibits in his personal gallery. Pecanis artwork includes oil paintings and drawings of Albanian landscapes as well as figures and portraits evocative of a simple and soulful country life. His work will also be presented soon at the New York ArtExpo.
Albanian cartoonist in solo Oxford exhibit

TIRANA, Jan. 31 - Albanias renowned Italy-based cartoonist Agim Sulaj has opened a personal exhibition at the North Wall Gallery in Oxford UK. This is a rare opportunity for Oxford art-lovers to examine Agims unique blend of hyper-realism and political satire, as he does not often exhibit in the UK, organizers say. In his landscapes, the painter expresses his nostalgia for the beauty of nature as captured during his childhood, whilst his cartoons depict major social and political problems of the 21st century, such as world poverty, environmental pollution and immigration. Agim Sulajs love of painting and art in general developed from an early age, inspired by the paths and narrow streets of the historic coastal city of Vlora, where he spent his childhood. In 1985, after completing his studies at the Academy of Arts in Tirana, Agim began collaborating with Hosteni, a satirical political magazine, which exposed the young artist to the world of humour and satire, which became an important element in the formation of his work. Around the same time, he developed a hyper-realistic style that is more dominant in his later work. Agim Sulajs work has won prestigious awards around the globe and has been exhibited alongside well known artists, such as De Chirico, Balthus, Nerdrum, Sandorfi, and David Hockney. He currently lives in Rimini, Italy, with his wife and two children, and works as an artist, illustrator and cartoonist. The exhibition at North Wall Gallery will be open from February 5 to March 1 2012.
Publisher Pierre-Marcel Favre awarded Medal of Gratitude

TIRANA, Jan. 31 - The President of the Republic, Bujar Nishani has awarded the Medal of Gratitude to French-Swiss publisher, critic and journalist PierreMarcel Favre. The publisher was awarded the medal for his contribution to the publishing of historical and political books in French by enabling the recognition of the Albanian reality under the Communist dictatorship on the international level. The publisher Pierre-Marcel Favre while thanking the President of the Republic for the appreciation, concluded his remarks by stressing that: I am back to Tirana and I have been extremely impressed by your transformation and economic development. The Albanians have the merit of building and transforming their country. You are honoring me with an extraordinary award. I would like to wholeheartedly thank you! And of course you can count on me to preserve the image of the new Albania.
CMYK
ARTS & CULTURE

TIRANA, Jan. 31 - Adi Totaj, a firstyear high school student in the medresse of Berat has won an international youth painting competition in Slovakia. The young talented painter was awarded the first prize for his painting of an 18th century bridge in the southern town of Berat, a UNESCO World Heritage site. The 18th edition of the A Youthful Vision 2012 was organized by the Bansk tiavnica municipality on the occasion of its inscription on the UNESCO World Heritage list. Andi Totaj beat 1,458 students aged between 13 to 15 to win the first prize with his Gorica painting. This event will contribute to helping children gain deeper understanding of humanitys most important values as well as bringing the nations of the world closer together, says Nadeda Babiakov, Mayor of Bansk tiavnica. The Gorica Bridge, which connects two parts of Berat was originally built from wood in 1780, but was later rebuilt with stone in the 1920s. The 7 arch bridge is 129 metres long and 5.3 metres wide and is built about 10 metres above the average water level. According to local legend, the original wooden bridge contained a dungeon in which a girl would be incarcerated and starved to appease the spirits responsible for the safety of the bridge. Since 2008, Berat has been inscribed as a rare example of an architectural character typical of the Ottoman period. Located in central Albania, Berat bears witness to the coexistence of various religious and cultural communities down the centuries. It features a castle, locally known as the Kala, most of which was built in the 13th century, although its origins date back to the 4th century BC.
Albanian wins youth painting competition in Slovakia
The citadel area numbers many Byzantine churches, mainly from the 13th century, as well as several mosques built under the Ottoman era which began in 1417. Berat bears witness to a town which
was fortified but open, and was over a long period inhabited by craftsmen and merchants. Its urban centre reflects a vernacular housing tradition of the Balkans, examples of which date mainly from the late 18th and the 19th
centuries. This tradition has been adapted to suit the towns life styles, with tiered houses on the slopes, which are predominantly horizontal in layout, and make abundant use of the entering daylight.
Scene of a crime
TIRANA, Jan. 31 - Apartment blocks, squares of apartment blocks, apartment blocks and neighborhoods. Apartment block entrances, Skies of apartment blocks. Apartment blocks under the moonlight, and Apartment blocks that cast shadows on other buildings. This cycle of works began in 2008 until 2010 when Koli Verani was studying architecture. It was a quiet period characterized by a decrease in new apartment blocks following the legal and illegal construction boom of the previous years. A necessary silence, it seemed as if people needed to reflect on what they had built. Viewing these photos by Koli Verani reminds me of a Walter Benjamin quote on Eugene Atget. Atget photographed the streets of Paris as if capturing the scene of a crime. The same can be said about most of these images, whose solemnity is a reminder of something similar to the architectural torture and murder that has happened to the City in the last 10-15 years, organizers say. In the superb documentation that Atget has done to nearly every corner of Paris, the human figure is scarce. The absence makes the photograph almost surreal and distant. A deep sense of distance is also perceived in these works, where the images are immersed in some artificial silence and mystery, a stagnant atmosphere that has nothing to do with the stillness of the sleep brought on by night, but with a deaf silence of death. The artist deliberately avoids human presence by choosing as setting the City of night: a city that could have been any other, because its most recognized places are not captured here and a certain anonymity prevails the cycle. Veranis photography is not documentary, it is not simply recording through the lens what the eye sees. Behind each composition hides the desire to make these neighborhoods and suburb buildings protagonists of an uncharted City: The desire to show something new. Is such a claim still possible today? Thousands of photographs, often of famous cities, main roads, the most impressive buildings, photographed a thousand times, by a thousand photographers, at dawn, in the morning, at noon, in the west, in the evening, after dinner, and so forth. I continuously try to find the differences. It is extremely tedious. Instinctively, through the anonymity of
Surveillance cameras suggested for endangered churches

TIRANA, Jan. 31 - One month after the irreparable damage made to the medieval frescos by some robbers in an Orthodox church in central Albanian district of Elbasan, culture authorities plan to install surveillance cameras to preserve the national heritage. The Institute of Monuments of Culture says it has initiated a project to install 35 surveillance cameras in remote churches in Korca, Lushnja, Saranda, Elbasan which are home to paintings by renowned medieval painters Onufri, Kostandin Shpataraku etc. Apollon Bace, the head of the Institute of Monuments of Culture, says the surveillance system project costs USD 100,000 and that efforts with donors and government are being made to implement it as soon as possible. Several frescoes by a master painter were vandalised and some of their parts stolen from a 16th-century Orthodox church in central Albania last January. Most of the frescoes at the small church in southeastern Elbasan County were the work of Onufri, a painter of the 1500s considered to be Albanias Michelangelo for his work on Orthodox churches in central and southern Albania.
the details of a city for which we only know that it is not Tirana, the artist has found those urban landscapes that are unknown, without risking his images resembling others, no one else would be able to identify the same view to photograph. By using the landscapes lack of identity, the artist tries to give us something original. The exhibition will be on at the newlyopened Miza gallery near to the public Faculty of Law in Tirana until February 6.
REGION
Kosovo's UN relationship desire sparks debate

Kosovo looks towards a relationship with the UN, despite warnings that domestic issues need to be solved first.
By MUHAMET BRAJSHORI for Southeast European Times Since declaring independence five years ago, Kosovo has secured recognition from 98 countries worldwide, including about 50 percent of UN member countries. The government has turned its focus to garnering recognitions from northern Africa and other Islamic countries, as well as to advancing its relationship with the UN despite warnings that the timing could end up hindering the country. Some officials and experts said that the country should wait to foster its UN relationship until Russia and China do not threaten to use their veto powers against Pristina, while others said Kosovo should apply to become an observer member state. Skender Hyseni, former foreign minister and current MP, told SETimes that it would be a strategic mistake for Kosovo to apply for UN observer status. "It is better not to join [the UN] for 10 or 15 years, rather than to join earlier as an observer, because Kosovo [would] be thrown into the group of those countries with a halved identity," Hyseni said. economic and cultural life in every part of the world and of course to represent the interests of the citizens of Kosovo." Gashi said that Kosovo's actions in international politics will depend very much on domestic developments. "I think that Kosovo should focus on creating a functional state, stable and sustainable in all areas, and to use all these achievements to get support for integration processes and its membership in different mechanisms," Goshi said. Albin Kurti, leader of Vetvendosje and chairman of Parliamentary Committee on Foreign Affairs, agreed. "The more [the foreign ministry] was focused on participation in international organisations and forums, [we were] left without the keyword 'republic'," Kurti told SETimes. International officials have also weighed in to the debate. German Ambassador to Serbia Heinz Wilhelm said Kosovo's UN membership is one of the issues that should be discussed in Brussels. "The issue is very important to us but I cannot say at the moment if it is going to be crucial for the granting of the date. We will first wait for a decision of the European Commission and [EU High Representative for Foreign Affairs] Catherine Ashton on the progress in dialogue," Wilhelm told Belgradebased B92.(Setimes.com)
Some believe that Kosovo should apply to become an UN observer member state.
Kosovo's membership to the UN depends mostly on the position of the permanent members of the Security Council, he said. "Even if [Kosovo] had 190 recognitions Russia and China still technically have the opportunity to block the membership process," Hyseni said. Fisnik Gashi, a researcher at the Institute for Political and European Studies, told SETimes that Kosovo must avoid any action that would spark a negative response by the UN Security Council. "The diplomacy of Kosovo should work in two areas: increasing the number of recognitions and enhancing co-operation
with countries with veto power in the UN Security Council," Gashi said. Hyseni said the Kosovo Ministry of Foreign Affairs needs a foreign policy strategy. "I say with regret that in the field of recognition for Kosovo, Kosovo's diplomacy in the past two years was close to failure," Hyseni said. But Foreign Minister Enver Hoxha disagreed. "During the year, the foreign ministry had a measurable agenda," he told reporters. "Based on this agenda we made maximum effort throughout the year to present the national interest of Kosovo, to present our political interests,
OPINION
Greece: How Long Until Junta?

By BILL FREZZA degradation?" To combat an explosion of smuggling and tax evasion, the Greek government has increased taxes on home heating oil by 50 percent. To no one's surprise (except perhaps those who believe that taxes don't affect behavior), home heating oil sales plummeted by 75 percent as eight out of 10 Greeks switched to wood-burning stoves. This blew a 400 million euro hole in anticipated tax collections. And where are Greeks getting all that wood? They are denuding state forests. Environmentalists are going berserk as entire hillsides are being clear cut. It was even reported that an ancient and revered olive tree under which Plato taught his students disappeared one night to be fired up some shivering Greek's chimney. The good news is that now that the trees are disappearing fewer Greeks will be blaming unscrupulous developers or Turkish agents for setting forest fires. And where is all that smoke going? Into the air around Athens, which has become so laden with soot and smog that authorities are concerned it will precipitate a public health crisis. The proposed solution? The government is promoting the use of modern, ecologically friendly wood-burning stoves! No doubt some minister's brother-in-law can make you a good deal, if you can get the cash. Strikes are an everyday occurrence, which shouldn't be surprising, as many strikers expect to be paid even when they don't show up for work. Unemployment has passed the 26 percent mark, as Greece vies with Spain for the honor of being Europe's top economic basket case. Youth unemployment has passed an astounding 55 percent. Suicides are skyrocketing as elderly and middle-aged breadwinners see no hope for the future. Barter club scrip is replacing currency as Greeks rediscover the true meaning of money. And while the black market is doing an admirable job forestalling starvation, the consequences on tax revenues have been so dire that the government is considering a ban on cash transactions larger than 500 euros, which would force citizens to use credit cards or other payment methods that leave an audit-able paper trail. Former Greek deputy Finance Minister Petros Doukas has suggested that the jobless be put to work on a voluntary basis without payment. One can only wonder how this is being received by the horde of former public employees long accustomed to getting paid without working. A series of small-scale bombings and arson attacks have rattled Athens. Roving bands of club-wielding thugs have targeted immigrants and minorities in vicious drive-by beatings. Gunshots have flown through the windows of politicians who have fallen out of popular favor. An urban guerrilla group whose name translates to the "Circle of Outlaws/Nucleus of Lovers of Lawlessness-Militant Minority" is claiming responsibility for attacking journalists for the crime of defending government policy. Arrests for any of these crimes are rare. How long before someone gets the clever idea to stage a Reichstag fire? Study the Greek character and you will find a conundrum of contrasts. On the one hand, you have the caricature of the lazy, tax-evading shirker, sipping ouzo with his buddies in the taverna as he collects money for a no-show government job that his uncle got for him. On the other, you have a fighting spirit so fierce that even Hitler praised the Greeks' martial prowess after
It is often said that to get a glimpse of our future we should study the lessons of the past. Or we can observe the fate of those marching a few steps ahead of us down a road we seem determined to travel. Take Greece. Long hailed as the birthplace of democracy, it is now a poster child for excessive government spending, bloated public sector unions, unfunded entitlements, and stultifying regulations. What happens when the politicians frantically trying to stave off economic collapse finally run out of other people's money? The hapless Greeks have managed to keep themselves off the front pages for a few months as they burn through their latest cash infusion, courtesy of the German taxpayer. This is no mean feat considering the dire state of the country's economy and the ever-present threat of a Greek debt implosion that could light the fuse for the unwinding of the euro, the opening act of what would surely become a worldwide economic catastrophe. But the simmering cauldron that is the Greek body politic has not stopped boiling. Widespread misery and despair are breeding lawlessness and violence. The sense that the country is falling apart is emboldening fringe political parties on both left and right to spew apocalyptic rhetoric, as they inexorably move to fill the vacuum left by Greece's discredited and collapsing center. Read through the stories appearing everyday in the Greek press (which you might only find buried on the back pages of American newspapers) and you will undoubtedly ask yourself: "How long will these proud people put up with such
he was forced to divert six crack units of the German Twelfth Army to put them down: "For the sake of historical truth I must verify that only the Greeks, of all the adversaries who confronted us, fought with bold courage and highest disregard of death." Talk about a volatile combination. Anyone who believes that the situation now spiraling out of control in Greece will end peacefully is dreaming. There is no credible plan for economic recovery. Greek GDP is imploding. Multinational corporations are pulling up stakes, sometimes selling off their Greek operations for one euro just to get out. No foreign investor in his right mind would put money into a new business there, and the local entrepreneurs who try are usually strangled in a tangle of red tape through which no amount of fakelaki can cut. So far the tourism industry is hanging on by a thread as there are many bargains to be had, but when strikes and violence cross the nuisance threshold and the first whiff of foreign casualties hit the news, those international tourists will quickly go elsewhere. And so the pressure builds and the clock ticks down to the next sustaining bailout payment -- which, at some point, simply won't be there once the Troika is forced to acknowledge that Greek "promises of action" are worth about as much as Penelope's promises to her frustrated suitors. When the anarchist/communists explode and the fascist/nationalists fight back, will we see a repeat of a civil war that claimed more Greek lives than World War II? How long before a frightened and suffering middle throws its weight behind a junta promising security? Someone will have to restore order when the German money runs out, because it sure won't be German soldiers that are sent to keep the peace. (huffingtonpost.com)
ADVERTISEMENT
TIRANA TIMES
news, analysis, business insights and event updates.
Since 2005
Understanding Albania
Know all you need to know about Albania, in English, from the countrys best weekly source of
Subscribe in print and online and get eight years worth of archives at our site, tiranatimes.com. Tirana Times, Albania's weekly English language newspaper, providing the best insights to an international audience since February 25, 2005. Subscribe today. http://tiranatimes.com/subscription.php
pick up your copy
Subscription Tariffs for Tirana Times Albania Europe Rest of the world (mail & packaging) 12 months 140 Euro 250 Euro 280 Euro 6 months 75 Euro 130 Euro 150 Euro 3 months 40 Euro 70 Euro 80 Euro For a complimentary copy call: +355 4 2274 203
Albanias only weekly newspaper in English
Comprehensive Coverage - Insights into Business, politics, Development - Special Features - Culture and Entertainment
Subscribe on-line!
And benefit access to seven years archives.
. com
CMYK
REGION
Region tackles late wages problem

Unpaid or delayed wages have been an issue for the last 20 years in the region, but have gotten worse in the economic crisis.
By KATICA DJUROVIC As late payment or nonpayment of wages becomes widespread, more countries in the region have adopted laws sanctioning employers. It is estimated that about 1 million workers across the region are paid late, or not at all. Existing penalties, such as fines, have proven to be ineffective in most states. According to the Serbian Federation of Independent Trade Unions, employers in the country pay about 31 million euros per month to employees, or 375 million euros annually. Around 45,000 employees dont get their wages at all, while 100,000 are paid after several months delay. The federation proposed a prison sentence for employers who do not pay wages for more than three months. The state has to bring the stricter law that will make employers pay wages. Otherwise, this bad trend will continue, Zoran Mihajlovic, secretary of the federation, told SETimes. Radmila Katic Bukumiric, deputy labour minister, said the new law clearly defines the penalty from those employers that do not pay. The fines are from 7,000 to 9,000 euros, and a prison sentence will follow if
Satire gives news portals an edge and an audience

Websites using humour to report on politics and controversial issues have earned the respect of citizens and journalists.
By LILY LYNCH As media in Serbia reported on alleged war criminal and current Hague indictee Vojislav Seseljs pacemaker operation, Njuz.net, a satirical website run by a group of young Serbs, ran the headline, During pacemaker operation, Seseljs heart is found. Through satire, the news portal was able to editorialise the attitudes of the majority of young Serbs towards the man accused of crimes against humanity. In recent years, satirical news sites like Njuz have emerged across the region. In Bosnia and Herzegovina (BiH),BalkanTajms.com, which satirises local and regional politics, is growing in popularity. The Croatian site newsbar.hr covers similar topics. Even Montenegro, with a population of little more than 632,000, has satirical web portal rastanj.me. The sites are popular with young people, and have strong visibility on social networks. Njuzs Facebook page is approaching 100,000 likes, and recently launched an English language site called The Global Edition. Another shared trait is the sites tendencies to lampoon politicians. After Serbian President Tomislav Nikolic criticised Prime Minister Ivica Dacic for his recent meeting with Croatian Prime Minister Zoran Milanovic, saying that the presidents of the respective countries should have met first, News Bar ran a picture of Nikolic with the caption: Its not okay, President Josipovic, I should have played hide-andseek first! Marko Drazic, who has worked for major Serbian media outlets and is the editor of Njuz, noticed that audiences discuss controversial topics somewhat differently in the comments section of Njuzthan in those of traditional media. Commenters have the same discussions and arguments that they do on the traditional sites about things like Kosovo or the pride parade, but somehow on Njuz the discussions are less brutal, people are more civilised in their debates, Drazic told SETimes. While the portals frequently spark political debates, most journalists for the satirical sites say they started them for fun. However, they all recognise the potential social value of satire for the region. We decided to launch a website that would be independent of any political influence and show citizens that politicians are not untouchable, that every citizen has the right to criticise the work of those who are elected to serve the people, Vlado Lucic, founder of News Bar told SETimes. Viktor Markovic, editor-inchief for The Global Edition and journalist for Njuz, said the site may have influenced the way people in Serbia read and think about news as its reported through traditional sources. I think people are a little less likely to believe everything they read. They may have read the real news with more critical thinking.(Setimes.com)
It is estimated that about 1 million workers in the region are paid late, or not at all.
the employer refuses to pay the wages. In general, we support all measures that provide realisation of workers rights. In the meantime, our inspectorate controls and files many misdemeanor charges for late wages, Bukumiric toldSETimes. According to the trade unions, there is no case in Serbia of employers being fined for unpaid or delayed wages. Admir Djulovic from Serbian city of Novi Pazar, who runs a grocery shop employing eight workers, supports the federation proposal. Why run a business if you cannot provide employees with their basic right wages? Having delays in payments for more than one month, for me as an entrepreneur, would be devastating and embarrassing, Djulovic said. In Republika Srpska (RS), a recent study conducted by the labour unions showed that about 30 percent of employees do not receive their wages on time.
Earlier this month, the BiH entity adopted a new labour law that will provide prison penalties from six months to five years for employers who do not pay wages. In Croatia, between 80,000 and 100,000 workers are not paid on time, if ever. Croatia will apply the same legislation as RS, beginning in July. In Bulgaria, strict laws on late wages have proven successful. Companies have begun paying their workers overdue wages, after Bulgarian labour inspectors found that 72 employers owed workers close to 9 million euros. The inspectors, who began a cross-sector campaign in June 2010 to monitor companies compliance with labour law, found 15,000 violations. As a result, nearly 4.4 million euros, about half of the outstanding amount, has been paid. Any employer failing to comply with the inspectorate on nonpayment of wages has to take full administrative and criminal responsibility.(Setimes.com)
Greek gold mining plans raise hopes, fears

The jobs-versus-environment debate ensues as government backs development.
By ANDY DABILIS A gold mining operation planned for northern Greece has sparked a debate between those who see it as potential job bonanza during a period of record unemployment and environmentalists who fear it will ruin the area and hurt tourism. Hellas Gold, 95 percent owned by Canadas Eldorado Gold Inc. and 5 percent by Greek construction company Aktor, plans to develop four mines in Halkidiki, which is known for its 300year-old forests and nearby beaches. Eduardo Moura, vice president and general manager for Eldorado in Greece, said the mines will bring money and work to Greece. Ninety percent of the workers would be local hires. Over the next five years we will be investing in excess of 1 billion euros in our projects, he told SETimes . We will generate approximately 5,000 direct and indirect jobs in Greece, He said the government will collect more than 1.5 billion euros in taxes during the projects two years and that the company will protect the land and forests. We owe it to ourselves to ensure the best possible exploitation of wealth this country has to offer to drive growth and bolster the economy, Deputy Energy and Environment Minister Asimakis Papageorgiou told parliament recently. Theodota Nantsou, policy co-ordinator for the World Wildlife Fund in Athens, told SETimes that, If [Greece] plans to host a green economy, a sustainable economy, then these plans have no room. With gold you have to use high levels of cyanide to get the gold out. The impact is very long-term and highly toxic. About 420 acres of trees are to be felled, driving local residents fears of dust and pollution. George Markopoulos, general manager of Thracean Mining, a Greek company also owned by Eldorado, said environmental fears are being overstated. We have to be logical and we can protect the environment, he told SETimes. There are some radical environmentalists, but the majority of the people want it. Area residents have set up a protest
committee. The main battle is over the mine complexs Skouries project, a 55square kilometre region that is estimated to hold 7.5 billion euros worth of gold and copper. About 300 protesters demonstrated in Athens on January 12th against the project. In November, more than 3,000 opponents turned out in Thessaloniki, about 13 kilometres from the project area. This will cause a great deal of damage to our natural reserves, said Thanasis Krommydas, an anti-gold campaign organiser. [Greece] signs up to treaties to protect the environment with one hand and destroys the environment with the other. Alexis Tsipras, head of the major opposition Coalition of the Radical Left (SYRIZA), said forging ahead in a desperate quest for revenue is shortsighted. The Greek state has nothing to gain but environmental cost from the investment, he said. (Setimes.com)
ENTERTAINMENT
Perchance to dream
Perchance to dream is the title of this years 19th edition of the Onufri visual arts exhibition curated by Italys Daniele Capra. The exhibition inaugurated on December 28 will run until February 3, 2013 at the National Arts Gallery in Tirana. A curator, art critic and journalist, Capra, 36, has curated over 50 shows in Italy, France, Czech Republic, Germany, Israel. The exhibition is named after a Shakespearean verse from Hamlets famous soliloquy. Capra has chosen this title because, according to him, there is a noticeable correspondence between an anguished and confused Hamlet found in difficult personal circumstances, who regardless finds strength to think philosophically about the world and its enigmas. According to Capra, the Albanian artists challenge and defy the difficult everyday reality, managing to offer personal solutions. But if Hamlet chose the road of vendetta to solve his personal problems, the artists in this exhibition propose and search for new ways and solutions to overcome them. Artists participating include Luian Bedeni, Yllka Gjollesha, Genti Korini, Mariana Kostandini, Remijon Pronja, Alketa Ramaj, Violana Murataj, Arjan Shehaj.
Modern Arts EXHIBITION OF THE PAINTER LEONARDO VOCI

The extravagant painter Leonardo Voci has opened his permanent exhibition Modern Arts in Sheraton Hotel. The well-known Albanian artist unfolds again in this exhibition the rich and powerful variety of his pallets. The paintings exhibited in art fairs in USA, England and Germany will be exhibited and you may admire them closely. Many paintings framed are not framed, erotic drawings; papyrus paintings etc, with various dimensions invite you in the permanent exhibition of the painter Leonardo Voci. Everyday:10.00a.m-3.00p.m & 6.00p.m-10.00p.m. Address: Italia Square, Sheraton Tirana, 2nd floor
VISUAL ARTS
Joint Exhibition of 6 artists
Painting, Sculpture, Photography Hotel Doro City Arben Golemi, Leon ika, Nikolin Ivanaj, Rudina Pema, Genti Proko and Vladimir Topi are the artists gathered in an exhibition that comes differently in the exhibition hall. This time their works come exhibited in Hotel Doro City. Here you can find painting, sculpture and photos as well. Real and abstract landscapes, nudes and still natures. Arben Golemi is presented with 10 landscapes which are distinguished from their colors. Leon ika comes with a cycle of photos from Pogradec. Nikolin Ivanaj with his still natures, urge you to reach out and grab those fruits with your own hands. Rudina Pema comes with a cycle of fragile portraits, full of colors, while Genti Proko comes with a series of still natures . Vladimir Topi comes with a cycle of wooden sculptures, where soft shapes of womens body are spotted. From April 5th. Address: Str. Muhamet Gjollesha
E. RIRA Gallery Sculpture, painting, installations. A successful gallery that will surprise you. Here you can find authentic works of art that please every taste. In this gallery you will find not only artistic sculptures, but also functional, thematic and aabstract paintings. The experience and desire for beauty are another value of art signed by Rira. Address Zhan DArk Boulevard, Shallvare 120 years of painting and sculpture in Albania 1883-2000
The National Gallery of Arts in Tirana offers for the visitors a permanent museum line that presents 120 years of painting and sculpture in Albania starting from 1883 with Sister Tone by Kole Idromeno, until the beginning of 2000. The exhibition shows the way that the Albanian visual arts have walked so far until the XX-th century. Tuesday-Sunday: 10.00a.m-5.00p.m (Closed on Mondays) Gate closes 20 minutes before schedule. Address: Deshmoret e Kombit Boulevard
Paitings by Kaceli Albanian Painter Buron Kaceli opens an exhibition of his works in different genres and techniques, particularly in oil on canvas technique. In Kaceli Art Gallery visitors will also be able to enjoy some works from the familys private collection. Visiting hours. Every day: 08.00- 22.00 . Address: 4 Dshmort str, no. 71/1. Tel: 04/ 2367834 Small Gallery The Small Gallery displays art works of different genres. To visit the gallery and admire these works of art you can contact the following mobile number: 0692212159. Address: Prokop Myzeqari str, block 7 Art Space Gallery Painting and Sculpture. Art Space gallery offers for all amateurs of art an exhibition with works from its archives with the participation of well-known artists of visual art and sculpture. Every day: 09:00 a.m-10:00 p.m. Address: Kristal Center Zenit Gallery Wellknown authors. In Zenit gallery this week you will have the chance to see paintings in the gallery from artists who have been featured in this gallery during the last year. Everyday: 11:0019:00. Address: Blv: B. Curri, P.Agimi, 151, Tiran. Tel: 04/ 2271641
Art Gallery Landscapes, Compositions by Fatmira Bekteshi Albanian-American painter Fatmira Bekteshi has opened a personal exhibition displaying some 150 paintings at the gallery located in the 21 Dhjetori crossroads in Tirana. Her works include impressionism and realism genres using the technique of oil on canvas. Visiting hours: Monday-Saturday: 8.30-19.00. Address: the crossroads 21 Dhjetori, near Gjergji Kompjuter. Mob.: 0692356179
Night life
ALCORA A very popular and stylish wine bar which is situated on the fourth floor of the Twin Towers complex. There you can taste very good coffee and wine as well as antipasta dishes. What you would notice immediately when entering this bar is an elegant environment and people dressed fashionably. In summer you can enjoy live music in the freshness of its terrace. Address: Twin Towers, in front of the pyramid. FOLIE Playing selected music in an extravagant three-storey space with plenty of glass balconies, Folie is one of Tiranas best night clubs. It is situated beside the Millennium cinema and it has a marvelous outdoor terrace area too. It looks like an open fashionable, colorful house in the middle of a forest. There you cannot miss to see some trees which make this club different from the others. It is a very warm and lovely environment. Address: Beside Millenium cinema. VOGUE It is a very interesting bar. The wonderful music at night makes it a club that everyone enjoys. It is situated in Ex-Blloku area. In its second floor you are going to find the restaurant which makes delicious food. You will enjoy your morning coffees there as well, especially if you sit outside and the weather is sunny. Address: Ex-Blloku MEDUZA A large bar in the wacky pallati me birila building. English and Australian beers are on tap, theres a goodvalue lunch menu and in the evening a selection of Italian, Lebanese and international dishes is served, followed by cocktails. Theres live music on Wednesday, Friday and Saturday with Salsa dancing, DJs and bands. IMAGINE A very nice rock bar paying homage to the late great John Lennon. There you will see black and white photos of him and of other famous musicians lining the walls. Imagine is pleasant enough for some late-night drinking, but is at its best when live rock and jazz music is played on Fridays and Saturdays. It is a very interesting bar to spend some hours at night. Address: Next to Tirana International Hotel RADIO One of Tiranas cooler bars, covered in old radio station logos, a Guernica painting, a typewriter on a stool and a few antique radios scattered around. Filled with students and others on most nights, its a relaxed place to listen to chilled music and chat. Find it in an apartment building set back from the street. Address: Ex-Blloku STEELWINGS Official home of the Steelwings Albania Motorcycle Club and easily located by the multitude of cool rides parked outside, this rocking bar full of leather-clad motorbike enthusiasts is decorated with all the usual Americana. Its a very friendly place, and the owners Tani and Dani stress that everyone is welcomed. Visit on Thursdays for the unplugged sessions or on weekend nights for rock karaoke and live rock and country music. is an amazing place, if you tried to give rock and roll another name, you might call it Steelwings. Address: Ex-Blloku THE CODE Attracting a somewhat older crowd than usual for the bllok, The Code is a spacious arched bar with a library corner, sofas and Tuborg on tap. Regular parties include the Jazz & Gold Hits evenings, with weekend parties like nowhere else, all you need to do is to go and dance with the crazy, trendy and super hits mixed by Dj Sardi who spreads energy everywhere and makes
Night life
the night unforgettable. The Code is the key of music and pleasure. Address: Next to the Vesa Centre complex. CAPRICCIO BAR Capriccio is a cool option for a quiet cup of coffee during the day and modern, swank, oozing place with a great atmosphere for spending the night hours. Address: Pjeter Bogdani st, ex-Blloku NEW IRISH PUB A true Irish Pub in spirit and dcor. Irish is a gathering place where its friendly bartenders and servers will make you feel at home. In a true Irish pub, there is a special ambiance and charm where people relax and can be themselves and simply enjoy their conversation. It is hard not to enjoy yourself with its music. Address: Brigada 8 st, ex- Blloku CLUB CAVALIERO In club Cavaliero you will enjoy the best music performances of the latest music genres, that Tiranas night life has to offer, played by Lupo DJ, every weekend. You can also see the live band influenced by Irish, Rock nRoll, Funk Soul, Latin, Blues and Rock music scene. Every Friday and Saturday at 22.00
ENTERTAINMENT Millennium Cinema Imperial Cinema
Here comes the Boom

Director: Frank Coraci Genre: Comedy Starring: Kevin James, Salma Hayek, Henry Winkler, Greg Germann, Joe Rogan Synopsis: A devoted high-school teacher risks life in order to rescue his schools music program from the cutting block. Back in his prime, Scott Voss was a collegiate wrestler with some fairly impressive moves. Now, at 42, he teaches biology at troubled Wilkinson High School. Mr. Voss has begun to grow deeply indifferent in his role as an educator when a troubling announcement stirs him to action. Effective immediately, Wilkinson High will be eliminating all extracurricular activities. Suddenly, the most apathetic teacher on the staff has a reason to get involved. But how is a typical high-school teacher like Mr. Voss supposed to raise the $48,000 needed to save the music program from going belly up?
Hansel and Gretel
Millennium Cinema
SAMMYS ADVENTURES
Director: Ben Stassen Genre: Animated Starring: Anthony Anderson, Ed Begley, Jr., Pat Carroll, Tim Curry, Kathy Griffin Synopsis: This is an animated adventure surrounding a sea turtles 50-year journey around the globe, featuring the voices of Anthony Anderson, Ed Begley Jr., Tim Curry, Melanie Griffith, Stacy Keach, and Jenny McCarthy. Fly Me to the Moon 3-Ds director, Ben Stassen, heads up the project, written by Domonic Paris.
Genre: Fairy-Tale Starring: Hugh Pollard, Nicola Stapleton, Emily Richard, David Warner, Cloris Leachman Synopsis: In this live-action version of the classic fairy tale, Hansel (Hugh Pollard) and Gretel (Nicola Stapelton) are the offspring of an impoverished woodcutter (David Warner) and his wife (Emily Richard) who wander into the woods in this Grimm Brothers fairy tale. The trail of bread crumbs they leave to find their way back is eaten by birds, and the children are lured into the gingerbread house of the wicked witch (Cloris Leachman).
Les Miserables
Director: Tom Hooper Genre: Drama Starring: Hugh Jackman, Russell Crowe, Anne Hathaway, Amanda Seyfried
Django
Director: Sergio Corbucci Genre: Drama Starring: Franco Nero, Loredana Nusciak, Eduardo Fajardo, Jose Bodalo Synopsis: A mysterious man named Django arrives in a Mexican border town dragging a small coffin behind him. When he attempts to save a woman who is being attacked by a group of bandits, he finds himself in the middle of a conflict between Mexican gangsters and racist Yankee thugs, with the innocent townspeople and a fortune in Mexican gold stuck somewhere in between. Django becomes a force to be reckoned with when its discovered his coffin actually contains a Gatling gun. Django proved so popular in Europe that over 30 sequels and follow-ups were produced.
Synopsis: Set against the backdrop of 19th-century France, Les Misrables tells an enthralling story of broken dreams and unrequited love, passion, sacrifice and redemptiona timeless testament to the survival of the human spirit. Jackman plays ex-prisoner Jean Valjean, hunted for decades by the ruthless policeman Javert (Crowe) after he breaks parole. When Valjean agrees to care for factory worker Fantines (Hathaway) young daughter, Cosette, their lives change forever.
ADVERTISEMENT
CMYK

Tirana-Times-February-1-2013 LPA Law Firm Albania Company Formation

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Tirana-Times-February-1-2013 LPA Law Firm Albania Company Formation

Uploaded by

Copyright:

Available Formats

February 1 - 7, 2013.

A Very Simple Answer

Albania-Azerbaijan relations beyond TAP

Albanians Everest climb in an exhibition

Govt to lift income tax on low wages ahead of elections

Central bank cuts key interest rate to historic low of 3.75%

CEZ case not universal

LPA Law Firm

2 | TIRANA TIMES - FEBRUARY 1 - 7, 2013

Tracking one third of Albanias population that lives abroad

Police seize drugs headed for Italy

American flu arrives in Albania

Three Albanian sailors in Yemen limbo

Teenagers murderer get 25 years

EBRD supports leasing in Albania

TIRANA TIMES - FEBRUARY 1 - 7, 2013 | 3

4 | TIRANA TIMES - FEBRUARY 1 - 7, 2013

U.S. urges end to nationalist rhetoric

TIRANA TIMES - FEBRUARY 1 - 7, 2013 | 5

Govt to lift income tax on low wages ahead of elections

Prime minister pushes for referendum on integration

6 | TIRANA TIMES - FEBRUARY 1 - 7, 2013

CEZ case not universal

TIRANA TIMES - FEBRUARY 1 - 7, 2013 | 7

A Very Simple Answer

EU and immigration: Fear-mongering

8 | TIRANA TIMES - FEBRUARY 1 - 7, 2013

Albania-Azerbaijan relations beyond TAP

Interview with Ambassador of Azerbaijan to Albania Rahman Mustafayev

TIRANA TIMES - FEBRUARY 1 - 7, 2013 | 9

BUSINESS & ECONOMY

Central bank cuts key interest rate to historic low of 3.75%

Bank of Albania Governor Ardian Fullani

10 | TIRANA TIMES - FEBRUARY 1 - 7, 2013

BUSINESS & ECONOMY

High State Audit uncovers Euro 107 mln of abuses

Insurance market growth accelerates to 7.8% in 2012

TIRANA TIMES - FEBRUARY 1 - 7, 2013 | 11

BUSINESS & ECONOMY

Exports growth halves, imports shrink in 2012

Gas market liberalized

12 | TIRANA TIMES - FEBRUARY 1 - 7, 2013

TIRANA TIMES - FEBRUARY 1 - 7, 2013 | 13

14 | TIRANA TIMES - FEBRUARY 1 - 7, 2013

BUSINESS & ECONOMY

Administrative Court, unpaid bills top concerns for businesses

Looking for a strategic INVESTMENT?

Apartment For Rent

TIRANA TIMES - FEBRUARY 1 - 7, 2013 | 15

BUSINESS & ECONOMY

Albanias Balfin Group acquires Bulqiza mine

Tougher measures to curb illegal mining

IMF raises Albanias growth forecast

16 | TIRANA TIMES - FEBRUARY 1 - 7, 2013

Meet the Artist Bio Effect

TIRANA TIMES - FEBRUARY 1 - 7, 2013 | 17

ARTS & CULTURE

Albanians Everest climb in an exhibition

Two centuries of art by two renowned families

Albanian artist Petraq Pecani at London Art Biennale

Albanian cartoonist in solo Oxford exhibit

Publisher Pierre-Marcel Favre awarded Medal of Gratitude

18 | TIRANA TIMES - FEBRUARY 1 - 7, 2013

ARTS & CULTURE