main opposition coalition has said it will boycott upcoming parliamentary elections, a decision likely to deepen the nation's political crisis and worsen an already troubled economy.

The Egyptian company whose hot air balloon crashed with the deaths of 19 tourists has defended its safety record despite revelations of previous accidents dating back to the 1990s, and one as recently as 2011 .

President Mohamed Morsi on Tuesday evening launched the first session of his 'national dialogue' initiative with representatives of political parties and groups to discuss guarantees for free and fair parliamentary elections slated for April.

In order to reduce Egypt's growing budget deficit, the government has proposed a package of reforms that includes raising taxes and cutting subsidies.

Almost 60 public figures signed a joint statement Tuesday, calling for a mass boycott of upcoming parliamentary elections. They also urged citizens to boycott voting to discredit the polls opposition parties claim will be a sham.

Officials at Egypt’s stock exchange have criticised a recent government decision to impose a 0.001 percent levy on investor trades, arguing that it will discourage traders, Ahram's Arabic website reported on Tuesday.

President Barack Obama urged Egyptian President Mohamed Morsi to protect democratic principles in Egypt and work to build political consensus as he prepares for parliamentary elections.

The government has revealed 24 new measures as part of an economic reform programme aimed at kick-starting Egypt's struggling economy, which will be presented to the International Monetary Fund in order to obtain approval of a badly needed $4.8 billion loan.

President Mohamed Morsy's office invited "various national forces" to a dialogue session scheduled for Tuesday to discuss the parliamentary elections scheduled for 22 April.

Hundreds demonstrated in front of the Unknown Soldier Memorial in Nasr City in support of the Armed Forces on Monday, rejecting what they called attempts to “Brotherhoodize” the army.

Prime Minister Hisham Qandil demanded that Egyptian political powers and parties end "their political cover" for "vandals" during a meeting on Monday with Egyptian newspaper editors-in-chief to discuss economic developments.

The High Elections Committee agreed to allow four international and 50 local organizations to monitor the upcoming parliamentary elections.

The National Salvation Front will resolve its final position on the upcoming parliamentary elections in a few hours, Amr Moussa, a leading figure in the opposition coalition, said Sunday.

John Kerry, the newly-appointed US secretary of state, is scheduled to visit Cairo on 2 March as part of a wider tour of Europe and the Middle East, official Egyptian news agency MENA reported on Sunday.

The Cabinet’s spokesperson said “rumors” spread in the media and on social networking sites about a civil disobedience campaign are not true, contending that certain people are trying to force government employees to take to the streets, or else they will harm them.

Egypt’s tourism minister, Hisham Zaazou, will head to the Iranian capital Tehran Sunday to discuss enhancing touristic exchanges between the two countries.

The administrator of a website close to Egypt's Muslim Brotherhood on Sunday denied "in no uncertain terms" a statement attributed to his website suggesting that President Mohamed Morsi had upbraided Defence Minister Abdel-Fattah El-Sisi following a statement made by the latter and his top aides suggesting the military's readiness to intervene in Egypt's chaotic political scene in case of a national "emergency."

The presidency has responded to public outrage concerning the timing of the first phase of parliamentary elections. President Mohamed Morsi announced that a new schedule for the first phase was under serious consideration while attending the Egyptian Forum on Foreign Policy on Saturday.

Egyptian opposition leader Mohamed ElBaradei called Saturday for a boycott of parliamentary elections, drawing immediate criticism from some within his movement who said it was a hasty decision.

Fourteen rights group said on Saturday that having two years pass by without presenting the ones responsible for killing protesters on the Friday of rage in 2011

Egyptian police said Saturday they have arrested four students who filmed themselves publicly dancing in their underwear, as more people around the world emulate a viral dance craze called the "Harlem Shake."