Israel and the Palestinian militant group Hamas signed an agreement on Thursday to cease fire and free Israeli hostages in exchange for Palestinian prisoners, in the first phase of US President Donald Trump's initiative to end the two-year war in Gaza that has upended the Middle East.

Israelis and Palestinians alike rejoiced after the deal was announced, the biggest step yet to end two years of war in which over 67,000 Palestinians have been killed, and return the last hostages seized by Hamas in the deadly attacks that started it.

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Hamas' exiled Gaza chief Khalil Al-Hayya said he had received guarantees from the United States and other mediators that the war was over. Israel's government, meanwhile, was meeting to ratify the agreement, which would clear the way for the ceasefire to take effect.

Under the deal, fighting will cease, Israel will partially withdraw from Gaza and Hamas will free all remaining hostage

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