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Head of ruling party reported to resign

Update 10:56 a.m. ET: Before he announced his resignation, Badrawi told Bloomberg News that protesters calling for Mubarak's departure had won and that early presidential elections might be coming.

"The revolution has succeeded," Badrawi said in the Bloomberg interview this morning. 

"What's the need for events that do not allow for economic development?" he asked. "We want work. We want companies to make profit and pay taxes. We want safety for tourism."


Hossam Badrawi, the new general secretary of President Hosni Mubarak's ruling National Democratic Party, has resigned, Reuters reports, quoting an interview on al-Hayat TV.

"It's a resignation from the position and from the party," Badrawi said in the interview. "The formation of new parties in a new manner that reflects new thinking is better for society now at this stage."

Badrawi was appointed as secretary-general Saturday in a purge of unpopular figures in Mubarak's party.