• Israel and Hamas have reached an agreement for a ceasefire and hostage exchange.
• The initial phase of the agreement involves the release of all Israeli hostages in exchange for Palestinian prisoners.
• President Trump has been instrumental in brokering this ceasefire, announcing it as a significant diplomatic achievement.

The Israeli military announced the ceasefire agreement with Hamas took effect on Friday, marking a pivotal moment after two years of devastating conflict in Gaza. The ceasefire allows for the exchange of hostages held by Hamas and prisoners in Israeli custody, as both sides formally agreed to the terms mediated by U.S. President Donald Trump and supported by countries including Egypt, Qatar, and Turkey, according to Channel News Asia.

Under the new deal, Hamas is expected to release all 20 remaining Israeli hostages over the next 72 hours, while Israel commits to freeing hundreds of Palestinian prisoners. This arrangement is seen as the first phase of a broader peace plan initiated by President Trump, as reported by AA and South China Morning Post.

President Trump expressed confidence in the deal's potential, stating, "We ended the war in Gaza; I think it's going to be a lasting peace." His administration facilitated this agreement amidst escalating humanitarian concerns in the region. Trump emphasized that a significant exchange is set to take place soon, as noted by The Hill.

The ceasefire has prompted a significant return of displaced Palestinians to southern Gaza, generating mixed emotions of relief and concern about the ongoing humanitarian situation, as reported by Reuters.