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Albanian Times, May 3, 1996

From: Albanian Times <>

The Albanian Times (by AlbAmerica TRade & Consulting International) Directory


  • [01] Albania Opens Stock Exchange

  • [02] Clinton Names New Ambassador to Albania

  • [03] Tirana Opens Conference on Tourism

  • [04] Nato Chief Wants Stronger Ties with Albania

  • [05] Fountain Oil Acquires UK-RAN Stock

  • [06] Poll Shows Democrats Could Beat Socialists

  • [07] Bildt Concerned Over Kosova

  • [08] USAID Has Given Kosova $20 Million in Aid Since 1993

  • [09] Police Disrupts Opposition Campaign, Daily Says

  • [01] Albania Opens Stock Exchange

    TIRANA, May 2 - Albania opened the first stock echange on Thursday, Radio Tirana said. The exchange opened by the National Bank in Tirana will help the nation take another step toward replacing the vestiges of a centrally planned economy with a free market. President Sali Berisha said in the opening ceremony the exchange is ``testimony of the economic stability of this country.'' ``The Tirana stock exchange came as a natural phenomenon and not as an administrative measure,'' said Kristaq Luniku, governor of the Albanian National Bank. He said stability, privatization and the economic development of the country prepared the nation for a stock market. The British ``Know How Fund'' has provided technical assistance to the Albanian National Bank for this project. Initially, the stock exchange will operate twice a week and offer treasury bills and privatization vouchers. Ten players will be licenced to operate in the exchange, Radio Tirana said. They are representatives of Albanian banks, the Insurance Institute and individuals. "Investment is very secure therefore market volume will be considerable," the exchange manager Albina Karamitro said. Economists believe the stock exchange will speed up privatization and create more investment opportunities. The exchange will operate twice a week starting from 10 AM. (Albanian Times)

    [02] Clinton Names New Ambassador to Albania

    WASHINGTON, May 2 - President Clinton has named Marisa Lino as the new U-S ambassador to Albania. Lino has spend the past two years as deputy executive secretary of state and has served in Baghdad, Damascus and Rome. She speaks Italian, French, Spanish, Serbo-Croation and Arabic. Lino replaces ambassador Joseph Lake who offered his resignation in February citing personal reasons. Mr. Lake was appointed to Albania in October 1994 after serving as U.S. ambassador to Mongolia. The new ambassador has yet to be confirmed by the U-S Senate. (Albanian Times)

    [03] Tirana Opens Conference on Tourism

    TIRANA, May 2 - A two-day conference in Tirana is focusing on ways to develop coastal tourism. Dashamir Shehi, Minister of Construction and Tourism, presenting the development strategies for coastal tourism, said public investments in infrastructure is hugely benefiting tourism in coastal areas. He said Albania is situated in the very midst of the biggest Mediterranean tourist market and has yet to explore this lucrative market. Investments in the Albanian tourism for the past two years amount to $45 million. Shehi said the government aims at avoiding mass tourism to protect Albania's historic monuments. The conference heard a report prepared by the World Bank on a management plan for developing coastal areas with the aim of protecting their bio-diversity and improving the relevant legal framework. In Albania, tourism development policies are drafted by the Ministry of Construction and Tourism. (Albanian Times)

    [04] Nato Chief Wants Stronger Ties with Albania

    TIRANA, May 2 - NATO Secretary-General Javier Solana said the alliance would intensify ties with Albania and continue discussions about a possible future NATO membership for the former communist country. ``We aim not only to maintain it (NATO cooperation with Albania) but to make it deeper and enlarge it,'' said Solana, who completed a two-day visit to the Balkan country. ``Your country is a very important member of the Partnership for Peace, a loyal ally,'' Solana said. Explaining NATO's strategy in case of a conflict in Kosova, Solana said this strategy applies to the whole region and is a preventive one. For now, he added, the main thing is to enable the return of the OSCE missions to Kosova. Albanian President Sali Berisha repeated his country's determination to become a full NATO member, saying Albania was a small but determined and strategically important ally. "We are very pleased about the high level of cooperation we have established with the alliance,'' Berisha said. He said Albania is willing to offer air and port facilities to NATO in the future. (Albanian Times, Reuters)

    [05] Fountain Oil Acquires UK-RAN Stock

    HOUSTON, April 30 - Fountain Oil Incorporated announced that it has acquired 80 percent of the outstanding stock of UK-RAN Oil Corporation ("UK-RAN") and that it has entered into an agreement to purchase an additional 10 percent of the UK-RAN stock which is expected to close within the next 10 days. Commenting on the Agreement, Oistein Nyberg, President and CEO, said, "The UK-RAN acquisition complements our growing portfolio of international projects which include projects in Albania, Western Ukraine, Russia, and now Central Ukraine." Fountain Oil Incorporated is actively acquiring and developing a portfolio of oil and gas properties. The Company has also owns a patented technology for electrically enhanced oil recovery used to increase the production of paraffinic oil and heavy oil. (Albanian Times)

    [06] Poll Shows Democrats Could Beat Socialists

    A new poll conducted by the Tirana based Association for Democratic Culture shows the Democratic Party continue to hold a solid lead over the opposition Socialists, less than a month from the general elections. According to the survey announced Thursday in Tirana, the Democrats enjoy 38,4 percent support against 20,5 percent of the Socialist Party. The poll was conducted in 40 regions with more than a thousand people. The survey also shows Berisha as the most popular politician in the country followed by the jailed Socialist leader Fatos Nano with twice as less support. The results roughly coincide with those of previous surveys conducted by independent polling organisations. (Albanian Times)

    [07] Bildt Concerned Over Kosova

    ATHENS, May 2 - The European Union's high representative for Bosnia Carl Bildt warned on Thursday that recent violence in Kosova was threatening the peace process in Bosnia and urged Belgrade and Tirana to show restraint. ``I am very much concerned over the recent trouble in Kosova,'' Bildt told reporters. ``Peace in Bosnia depends on the stability of the whole region and the political leaderships in Belgrade, Kosova and Tirana must seek a political solution and prevent a major crisis.'' ``Serbia can't be stable, prosperous and harmonious if it does not reconcile the issue of Kosova. Serbia can't live as a European country with the continuous state of repression in Kosova. It is simply not possible,'' Bildt said. (Courtesy of Reuters)

    [08] USAID Has Given Kosova $20 Million in Aid Since 1993

    TIRANA, May 2 - The United States have given the people of Kosova $20 million in humanitarian aid since 1993, a USAID announcement said. The aid has been funnelled through Mercy Corps International and Catholic Relief Service, the USAID said. (Albanian Times)

    [09] Police Disrupts Opposition Campaign, Daily Says

    TIRANA, April 30 - Police in southern Albania destroyed opposition Socialist campaign banners and pictures, according to the leftist oriented daily Koha Jone quoted by Reuters. Police broke down the door of a Socialist party office, removed the flag from the balcony and tore posters of jailed Socialist leader Fatos Nano down from town walls, the newspaper said. Two people in Cerrik, were detained temporarily for writing slogans urging an opposition election victory, Koha Jone added. ``It is the duty of the political forces, primarily the state and its structures, to establish and carry out law and order and to avoid such (police) incidents during the campaign,'' the daily said. Elections in Albania are scheduled to be held on May 26. (Albanian Times)

    The material was reprinted with permission of AlbAmerica Trade & Consulting

    International. For more information on ATCI and the Albanian Times, please

    write to

    Copyright (c) ATCI, 1996

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