U.S. President Donald Trump has announced that Israel and Hamas have agreed to the first phase of his 20-point Gaza peace plan, following days of intensive indirect negotiations in Egypt.
President Trump announced on social media late on Wednesday that Hamas had agreed to release all the hostages being held inside Gaza "very soon", while Israel has agreed to a phased withdrawal of its ground forces to "an agreed upon line."
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Political News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.