Egyptian President Hosni Mubarak remained in power on Monday as talks between his government and the opposition failed to persuade demonstrators in central Cairo to give up their two-week long protest, according to RIA Novosti.

The unrest which began in Egypt on January 25 has left some 300 people dead and caused massive damage to the North African state’s economy. Demonstrators are demanding the immediate resignation of Mubarak, who has been in power for three decades.

The president has pledged not to run in scheduled elections in September, but has refused to step down, saying his premature departure would lead to “chaos.”

Sunday’s talks, involving the banned Muslim Brotherhood and youth groups, saw the authorities offer concessions, but the opposition said they did not go far enough. Six groups were represented in total in the talks, which were hosted by Vice-President Omar Suleiman.

Egyptian Nobel Prize winner Ahmed Zuwail has urged Suleiman to oversee reforms in the country leading to free elections.