There is no 'Committee for Promotion of Virtue and Prevention of Vice' in Egypt as has been rumoured of late, Yasser Ali, acting spokesman for Egypt's newly-inaugurated President Mohamed Morsi, said on Wednesday.

Former Finance Minister Samir Radwan sharply criticized Egypt’s 2012/13 budget, which came into force two days ago. It fails to respond to the demands of growth or to accommodate the Renaissance Project President Mohamed Morsy has adopted as his economic platform, Radwan claimed.

Following the election of the Muslim Brotherhood's Mohamed Morsi as Egypt's first freely-elected president, the identity of Egypt's incoming prime minister remains open to question – as does his ability to freely appoint a new government.

The Helwan Court of Misdemeanors on Wednesday gave director Ashraf Nabil Awad a suspended sentence of six months imprisonment and ordered his release after he was accused of slandering former presidential candidate Ahmed Shafiq.

The price of gas sold to factories that are not energy intensive has been raised to US$3 per million thermal units, up from $2.30, said Egyptian Natural Gas Holding Company Chairman Mohamed Shoeib on Wednesday.

About a hundred journalists from various state-owned newspapers protested in front of the journalists' syndicate on Tuesday afternoon, objecting to interference by the Shura Council (the upper house of Egypt's parliament) in the Supreme Press Council, which is responsible for appointing editors-in-chief of state-owned media.

Hassan al-Brince, a Freedom and Justice Party leader, said ongoing protests in front of the Orouba Palace are a conspiracy to bring down President Mohamed Morsy.

A group of political figures, who had announced their support for Mohamed Morsi before he won the presidential election, have formed a delegation to discuss with him who should be included in his new government. Morsi has promised that the new cabinet will be representative of all political factions and not dominated by the Muslim Brotherhood.

Egypt's stocks slowed their gains slightly on Tuesday but still finished in the green. Main index EGX30 rose by 0.8 per cent, recording 4,984.13 points - a small rise compared to Monday's climb of around 5 per cent.

The Constituent Assembly is in a race against time. The assembly, which is tasked with drafting Egypt’s next constitution, could be dissolved on 4 September, when a State Council Administrative Court will rule on its constitutionality.

Six medical syndicates said on Thursday that they were considering a general strike to protest the approval of the new health budget by the Supreme Council of the Armed Forces. The new health budget accounts for 4.8 percent of the state budget, although workers in the health care system had requested a 15 percent increase to increase the efficiency of hospitals and to provide integrated health care to patients.

The April 6 Youth Movement decided on Tuesday to end the sit-in they have been staging in Tahrir Square for more than 13 days. The movement said in a statement that it would look for other ways to pressure the government to meet its demands.

Former presidential hopeful Hamdeen Sabbahi will meet on Tuesday with Turkish Foreign Minister Ahmet Davutoglu, who is currently on an official visit to Egypt.

Twenty-year-old engineering student Ahmed Said was stabbed to death on Sunday in the Egyptian canal city of Suez – allegedly by bearded men – while walking with his fiancée.

President Mohamed Morsy has ordered a 15-percent increase in pensions and salaries of government employees, as well as another increase in social security, from LE200 to LE300 to take effect in July.

President Mohamed Morsy met Armed Forces Chief of Staff Sami Anan and Foreign Minister Mohamed Kamel Amr, the state-owned MENA news agency reported.

Border patrol guards and security forces in the Delta governorate of Beheira thwarted a plan late Sunday by ninety-four young men from nine different governorates to migrate to Italy.

A march of hundreds of demonstrators has arrived to the presidential palace, demanding President Mohamed Morsy release detainees in military prisons.

Boutros Boutros Ghali, the chairman of the National Council for Human Rights, has sent President Mohamed Morsy the council’s eighth annual report on the human rights situation in Egypt in 2011.

Prominent lawyer Ragaei Atteya held a press conference on Sunday at which he announced plans to launch an as-yet-unlicensed 'Egyptians Party.'

Port Said Criminal Court postponed the trial of 73 suspects charged with killing 74 fans of the Ahly Club until 7 July on Sunday.