Mustaqbal newspaper has cited Syria's destructive role in Lebanon as the main reason for Mubarak's decision.
The paper reported that Mubarak's decision is irrevocable.
Al Mustaqbal sources also have reported that Mubarak may dispatch a delegation headed by his Prime Minister Dr. Ahmed Nazif or a lower level delegation headed by Foreign Minister Ahmad Abul-Gheit.
Al Mustaqbal sources claim that Mubarak will make the official announcement about boycotting the summit next Wednesday March 26, one day after the scheduled elections in Lebanon
Mubarak's decision could have a domino effect on the Damascus summit , because of the leadership role Egypt enjoys in the Arab world. There is a speculation in Beirut that Saudi Arabian king Abdullah and Jordanian king Abdullah will both miss the summit . Again they could be followed by other countries in the Gulf specifically Kuwait , Bahrain and UAE .
Syria rejects Egyptian initiative
In a related development , Syria has rejected Egyptian efforts to facilitate the election of Lebanese Army Commander Gen. Michel Suleiman president prior to the forthcoming Arab Summit, the daily al-Hayat reported Sunday.
The report, quoting ranking political sources in Beirut, said Egypt had proposed "gradual implementation" of the Arab initiative, beginning with electing Suleiman president.
Syria, however, rejected the Egyptian approach and insisted on prior agreement on the distribution of government seats that would give the Hezbollah-led opposition veto powers.
Syria also proposed delaying the exchange of diplomatic relations with Lebanon until such a time when tension between the two states ends, the report added.
Mubarak to Moscow
Egyptian President Hosni Mubarak will visit Moscow tomorrow for talks centering on the situation in the Middle East and civilian nuclear energy, according to Al Mustaqbal
The visit comes at "a critical moment when the peace process between Israelis and Palestinians is practically frozen and when the situation is getting worse in Gaza," ambassador Ezzat Al-Saied said
"At such a time, it is still important for Egypt to consult and exchange ideas with Russia," he said.
During Mubarak's visit from Monday to Wednesday, the two countries will sign an accord on civilian nuclear energy, giving Moscow the chance to participate in building Egypt's first nuclear reactor.
Mubarak announced in October that Egypt would be looking for contractors in the first nuclear reactor project valued at 1.5-1.8 billion dollar