The deal, mediated by the United States, offered a glimmer of hope in a conflict that has taken an immense human toll.

Israel and Hamas have agreed to a cease-fire deal that will pause fighting in Gaza for six weeks and lead to the release of hostages and Palestinian prisoners, President Joe Biden said Wednesday afternoon,

Israel and Hamas have agreed a Gaza ceasefire and hostage deal following meetings with Qatar's prime minister, a source briefed on the talks has told the BBC. There was no confirmation from the Israeli government or Hamas, but a Hamas official earlier told the BBC it had approved a draft from Qatari, US and Egyptian mediators.

A ceasefire in the war in Gaza should be positive for Israel's under-pressure credit rating, Fitch's top sovereign rating analyst said on Thursday.

After intense negotiations, Israel and Hamas have reached a deal that would see a ceasefire and the exchange of hostages in Gaza for Palestinian prisoners.

The ceasefire in Gaza represents a "great victory" for the Palestinian resistance, Iran's Revolutionary Guards said on Thursday, warning against any possible breach by Israel. Palestinian armed group Hamas and Israel reached a deal for a ceasefire in Gaza that mediators said would take effect on Sunday.

Marking an end to more than 15 months of deadly conflict, Israel and Hamas reached a ceasefire deal on Wednesday.

Bar-llan University Professor of Politics Gerald Steinberg claims Israel is an “angrier” nation and will take swift military action in response to any ceasefire violations.