Egyptian President Hosni Mubarak on Thursday called for an Arab summit next week in the Egyptian Red Sea resort of Sharm el-Sheikh where at least 64 people were killed in three terror bombings last Saturday.

"I call for an extraordinary Arab summit and I suggest that it be held in Sharm el-Sheikh on Wednesday," Mubarak said in a nationwide televised speech in Shibin el Kom, 65 km north of Cairo.

Mubarak said the Arab world was witnessing "worrisome developments from the situation on the Palestinian arena to the situation in Iraq and many other challenges," adding "it is necessary to formulate a shared Arab vision."

Mubarak, 77, also announced in the speech that he will seek a fifth six-year term in the presidential elections slated for Sept. 7.

Source: Xinhua