CAIRO - Mahmoud Abdellatif, the head of Bank of Alexandria, said Monday that banking transactions were more positive than expected after the bank reopened this week, regional news network al-Arabiya reported.

CAIRO - Egypt's credit rating and economic outlook have been downgraded by rating agencies due to the ongoing political unrest.

CAIRO - Egyptian President Hosni Mubarak Saturday met with ministers holding economic portfolios and the head of the central bank at the presidential palace in Cairo, state media reported.

CAIRO - Coca-Cola Co. and Nestle SA have decided to close their operations in Egypt, the Wall Street Journal reported.

CAIRO - Leaders of the Gulf Cooperation Council (GCC) countries are set to meet next week in the United Arab Emirates capital Abu Dhabi, where the bloc was founded about 30 years ago.
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