Algeria postpones Djezzy appeal over $1.3 bln fine

ALGIERS, April 29 Sun Apr 29, 2012 12:48pm EDT

ALGIERS, April 29 (Reuters) - An Algerian court on Sunday postponed until May 6 an appeal hearing into a $1.25 billion fine imposed on Djezzy, the local mobile phone unit of Russian telecoms firm Vimpelcom, a judicial source told Reuters.

Djezzy chief executive Tamer El Mahdy, who has been convicted in the case and faces jail if the conviction is upheld, failed to appear for the hearing, the source said.

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After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.