Telecom Egypt posts net profit of 2.96 billion EGP in 2013
CAIRO, 12 (Reuters) - Telecom Egypt posted consolidated net profits of 2.96 billion Egyptian pounds ($425.27 million) in 2013, compared to 2.62 billion in 2012, according to a balance sheet published in a newspaper on Wednesday.
The Egypt-based joint stock company earned revenues of 11.13 billion Egyptian pounds in 2013, against 10.03 billion in 2012. ($1 = 6.9603 Egyptian Pounds) (Writing by Michael Georgy; Editing by Louise Ireland)
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.