Ceasefire Breakthrough: Israel and Hamas Strike Hostage Exchange Deal

In a landmark agreement announced on Thursday, Israel and the Palestinian militant group Hamas have agreed to a ceasefire, accompanied by a significant exchange of hostages for Palestinian prisoners. This development marks the first phase of an initiative spearheaded by U.S. President Donald Trump to quell the enduring conflict in Gaza.

After indirect negotiations held in the Egyptian resort town of Sharm el-Sheikh, officials from both sides confirmed the signing of the deal. The agreement has sparked celebrations among Palestinians and Israelis, as it represents the most substantial step towards peace thus far. It will result in Israel partially withdrawing troops from Gaza and Hamas releasing hostages captured during the recent conflict.

Israeli Prime Minister Benjamin Netanyahu's office stated that the ceasefire will take effect following governmental ratification, anticipated after a security cabinet meeting. With the ceasefire slated to commence within 24 hours post-ratification, the release of hostages is expected within 72 hours. Despite the breakthrough, prominent Palestinian prisoner Marwan Barghouti will not be included in the exchange.

(With inputs from agencies.)