Egypt's stocks ended the year 2012 on a positive note, bolstering its impressive 2012 rally and putting it in third place globally in terms of per cent earnings.

Ashraf El-Arabi, Egypt's minister of planning and international cooperation, warned that the budget deficit might reach almost LE200 billion by the end of the 2012/2013 fiscal year if the government does not implement long-awaited financial and fiscal reforms, state news agency MENA reported.

A number of professional syndicates are calling on Egyptian authorities to investigate why syndicate members--including doctors, engineeers, and journalists--have been detained in the United Arab Emirates.

An April 6 Youth Movement activist sustained a head injury after a drive-by shooting in Tahrir Square on Monday morning and has been hospitalized in critical condition.

Ahmed al-Zend, head of Judges Club, said he will meet with the Supreme Judicial Council on Monday. Several members of the club board as well as a delegation from the club branches in the governorate will attend to discuss the situation of Prosecutor General Talaat Abdullah and the council's statement, which called on him to resign and return to working as a judge.

The Constituent Assembly began voting on the draft constitution on Thursday afternoon, with 85 members present.

Interior Minister Ahmed Gamal Eddin said there have been attempts to communicate with political forces calling for mass demonstrations on Friday and Saturday, in an effort to prevent more violence after a week of protests.

The poverty rate has considerably increased, as it has reached an average of 25.5 per cent for the year 2010/2011 compared to 21.6 per cent in 2008/2009, the state-run statistics agency CAPMAS reported.

For almost two years, civil and secular groups were constantly blamed for being disunited and unorganized, paving the way for Islamists to rise to power after Hosni Mubarak’s ouster.

Egyptian stocks ended the day down by less than half a percentage point Thursday after plunging 3 per cent in morning trading.

Political and revolutionary forces have called for mass demonstrations in Cairo’s Tahrir Square and squares in other governorates on Friday under the title “Revoke or Leave,” demanding that President Mohamed Morsy rescind his 22 November constitutional declaration.

The student membership of the Constitution Party, Socialist Popular Alliance and the Egyptian Popular Current issued a statement Wednesday denouncing the National Front for Salvation of the Revolution coalition between their parties and figures from the Mubarak regime.

The head of the assembly drafting Egypt’s new constitution said the final draft should be finished on Wednesday, as the Islamist-dominated body races to finish a process that has helped to trigger a political crisis.

During his visit to Assiut early this month, President Mohamed Morsy announced the opening of Egypt’s renaissance bank account, number 333/333, and called upon “repentant” businessmen to donate some of the money they acquired through illegal means into this account.

The head of Egypt's Constituent Assembly, Hossam El-Gheriani, said the final discussion of the draft constitution will be held tomorrow, calling on members who withdrew from the assembly to rejoin it.

Thousands of protesters are converging on Tahrir Square from various points around Cairo to protest President Mohamed Morsy’s constitutional declaration, as one protester was reported to have died after fainting from teargas exposure.

Dozens of judges arrived at the Judges Club headquarters in downtown Cairo Tuesday evening to start a sit-in against the constitutional declaration issued by President Mohamed Morsy on 22 November.

The number of people arrested since the beginning of clashes on Mohamed Mahmoud Street last week has now reached 348, according to a security source in Cairo.

The IMF loan agreement Egypt reached last week with the fund’s delegation has not been directly affected by President Mohamed Morsy’s constitutional declaration increasing his executive and judicial powers, a spokesperson from the IMF told Egypt Independent in a statement on Tuesd

The government would sternly confront any destructive and violent actions that deviate from peaceful protests, Prime Minister Hesham Qandil said in a statement Tuesday as thousands of protesters flocked to Tahrir Square to protest new powers President Mohamed Morsy granted himself through a constitutional declaration last Thursday.

Clashes by the American Embassy in Simon Bolivar Square near the Cairo centre Sunday have seen a lull this Monday morning.