Wednesday, February 27, 2008

The European Commission Calls Tender for Wastewater Plant Equipment for Albania

Date Jan 29, 2008
Place Tirana, Albania
Organization European Commission
Industry Waste Management
/Environment
TDD Apr 2, 2008 16:00 CET
BFD Apr 2, 2008 16:00 CET
Status Opened
Procedure type Open procedure

The European Commission has issued a contract notice for equipment for a wastewater treatment plant in Albania. The contract includes the manufacture, delivery, installation and commissioning of equipment including scrapers and pumps for the Ballshi oil refinery, aiming to improve the performance of the existing wastewater treatment plant. The contract, to be completed within 180 days from its signing, will be awarded to the bidder with the most the favorable offer. The tender security is estimated at 10,000 euro. The performance guarantee is 10% of the amount of the contract. The tender dossier is available at the following internet address: http://ec.europa.eu/europeaid/work/procedures/index_en.htm Further information is available at: Delegation of the European Commission, Contracts, Finance and Audit Section Rruga e Durresit 127/1, Tirana, Albania Contact person: Maria Amalia Baraona Tel.: +355 42 283 20 Fax: +355 42 307 52 E-mail: maria-amalia.baraona@ec.europa.eu

Source: www.seenews.com

Albania Wraps Up 19.4 Mln Euro Overhaul of Key Hydropower Plant

- Albania has completed an overhaul worth 19.4 million euro ($28.5 million) of its key hydropower plant Vau e Dejes, the energy ministry said.

The five turbines of the 250-MW hydropower plant were reconstructed under a project launched in 2003. A control and monitoring system for turbine water flow and dam safety and civil works were installed, the ministry said in a statement posted on its website.

A total of 14.8 million euro for the overhaul came from donations, 1.4 million euro were government loan, while the remaining 3.2 million euro were provided by the state-run power utility KESH, which owns the hydropower plant.

The Vau e Dejes hydroelectric unit was built with Chinese technology and started operations in 1971. The plant was the first constructed on the river Drin, in the north of the country.

The revamp of the Vau e Dejes plant is part of a larger project worth some $50 million for the overhaul of all four hydro units that form the Drin Cascade.

Hydropower plants across Albania generate more than 95% of the country's electricity output.

Albania plans to import 2,215 GWh of electricity worth an estimated 201 million euro this year.

($=0.6804 euro)

Source: www.seenews.com

Monday, February 11, 2008

Difficulties on Foreigners' Mortgage Loans Transactions for Real Estate in Turkey

By Majlinda BEU

Mortgage system is now applicable in Turkey since last year. Now the availability of mortgage loan by banks is not only practical for real estate acquisitions by Turkish citizens but by the foreigners as well. This is one of the advantages regulated by Turkish Mortgage Law. However, in practice is not seemed as much easy as legally. Regarding this issue bank directors in Turkey are claiming that even though there is a legal regulation for mortgage loans for foreigners still there procedures such as military permits which hang up acquisition transactions. The a.m. permits are practiced in accordance with 2565 numbered Law of Military Forbidden and Security Zones. These permits should be provided for villa type’s acquisition transactions by foreigners at zones such Fethiye, Bodrum, Antalya, Marmaris etc. Moreover, the military permits should be issued by military authorities and this procedure takes time aprox. 4 – 5 months.
For mortgage loan transactions, Garanti Bank makes agreements with loan offices in UK. However, the foresaid military permit hangs up all these transactions. Consequently, in order to increase the foreigners’ real estate acquisitions in Turkey, such permit should be annulled or at least the obtaining period of this permit should be decreased.
Meanwhile, in Turkey except Garanti Bank, Iş Bank and Denizbank provide mortgage loans for foreigners. However this is not enough if we have a look at foreigners acquisitions in Spain such as 2,5 million and in Turkey only 40 thousands.

Wednesday, February 6, 2008

Highlights on Execution and Enforcement Draft of New Turkish Trade Law

By Majlinda BEU

These days Turkish Parliament Justice Commission has handled the draft of Turkish Trade Law referring the execution and enforcement bases of this draft.

This draft arranging the execution and enforcement of New Turkish Law consisted of 1535 articles which is going to revoke Turkish Trade Law of year 1957, settles the circumstances of effective and new law applications.

With regard to this draft, if New Trade Law brings out any profit for the first time or different than the old law, new clauses will be applied for any case or legal accuse arisen even during time of the law in force. New Trade Law will be applied for those cases eventuated during law in force but their rights have yet not been effectual on the dates of coming into force of New Trade Law.

Regarding the Sea Trade and Insurances legal cases, they will be transferred to Trade Courts of First Instance within one month pursuant to enforcement of New Turkish Trade Law.


Bank Loan Contracts are changing
Current account contracts which predict the enforcement of compound interest by enclosure of interest to principal capital, will be changed within 3 months pursuant to enforcement of New Turkish Trade Law.

By some amendments on Current account contracts, bank loan contracts and other contracts which combine current account terms, provisions effective on compound interest and related clauses will be taken out.


Turkish Accounting Standards
In accordance with the new law draft, all the foreign companies that need to affiliate in Turkey and also all Turkish companies that need to be transferred to another country, should execute Turkish Accounting Standards for financial tables arrangements starting from 1 January 2009 or for the pursuant account periods, accordingly.


Hundreds of companies will be liquidated

With the enforcement of New Turkish Trade Law, hundreds of unactive joint-stock and limited companies will be ended to liquidation.

All the joint-stock and limited companies that are abrogated with the reason of non increase of capital to minimum amount during statutory period or that are terminated for any reason but their liquidation is not completed or stopped and the ones that do not show any activity, will be liquidated and erased from Turkish Trade Companies Registration. The procedures and methods of the abovementioned companies’ determination will be arranged with a declaration of Trade and Industry Ministry.

After liquidation completion and cancellation from Turkish Trade Companies Registration, all joint-stock and limited companies’ assets will be transferred to Treasure automatically.


Related Acts and Regulations within 1 Year
Public Acts and Regulations that will be amended regarding New Turkish Trade Law clauses, will be published at Turkish official gazette within 1 year.

Visa Fees at Turkish Border Gates for 2008

Visa Fees at Border Gates for 2008 (For Ordinary Passport Holders Only)

States Visa Duration and Fee

1. USA (All Passport Types) 3 Months 20 $ - 15 Euro
2. Albania 2 Months 15 $ - 10 Euro
3. Australia 3 Months 20 $ - 15 Euro
4. Austria 3 Months 20 $ - 15 Euro
5. Azerbaijan 2 Months 12 $ - 10 Euro
6. Bahrain 1 Month 15 $ - 10 Euro
7. Belarus 2 Months 20 $ - 15 Euro
8. Belgium 3 Months 15 $ - 10 Euro
9. Armenia 1 Month 15 $ - 10 Euro
10. Estonia 1 Month 15 $ - 10 Euro
11. Greek Cypriot Adm. 1 Month 15 $ - 10 Euro
12. Netherlands 3 Months 15 $ - 10 Euro
13. Hong Kong (BNO) 3 Months 20 $ - 15 Euro
14. United Kingdom 3 Months 20 $ - 15 Euro - 10 £
15. Ireland 3 Months 15 $ - 10 Euro
16. Spain 3 Months 15 $ - 10 Euro

17. Canada 3 Months 60 $ - 45 Euro
18. Lithuania 1 Month 15 $ - 10 Euro
19. Hungary 1 Month 30 $ - 20 Euro
20. Moldova 1 Month 15 $ - 10 Euro
21. Norway 1 Month 30 $ - 20 Euro
22. Poland 1 Month 15 $ - 10 Euro
23. Portugal 3 Months 15 $ - 10 Euro
24. Romania 1 Month 12 $ - 10 Euro
25. Russian Fed. 2 Months 20 $ - 15 Euro
26. Serbia and Montenegro 1 Month 15 $ - 10 Euro
27. Slovakia 1 Month 15 $ - 10 Euro
28. Slovenia 3 Months 20 $ - 15 Euro
29. Tajikistan 1 Month 15 $ - 10 Euro
30. Turkmenistan 1 Month 15 $ - 10 Euro
31. Ukraine 2 Months 20 $ - 15 Euro
32. Jordan 1 Month 30 $ - 20 Euro
33. Malta 3 Months Gratis
34. Oman 3 Months 20 $ - 15 Euro
35. UAE (*) 3 Months 20 $ - 15 Euro
36. Qatar (*) 3 Months 20 $ - 15 Euro
37. Kuwait (*) 3 Months 20 $ - 15 Euro
38. Saudi Arabia (*) 3 Months 20 $ - 15 Euro
39. Antigua - Barbuda 3 Months 20 $ - 15 Euro
40. Bahamas 3 Months 20 $ - 15 Euro
41. Barbados 3 Months 20 $ - 15 Euro
42. Dominica 3 Months 20 $ - 15 Euro
43. Dominican Republic 3 Months 20 $ - 15 Euro
44. Grenada 3 Months 20 $ - 15 Euro
45. Haiti 3 Months 20 $ - 15 Euro
46. Jamaica 3 Months 20 $ - 15 Euro
47. Maldives 3 Months 20 $ - 15 Euro
48. St. Christopher Nevis 3 Months 20 $ - 15 Euro
49. St. Lucia 3 Months 20 $ - 15 Euro
50. St. Vincent and the
Grenadines 3 Months 20 $ - 15 Euro