In today’s newsletter: A ceasefire between Israel and Hamas will see the release of hostages and the withdrawal of most of Israel’s troops

Good morning. After more than two years of devastating war, a ceasefire has finally been announced in Gaza.

US president Donald Trump said Israel and Hamas have agreed to the first phase of a peace plan to pause fighting and secure the release of hostages and prisoners. Under the deal, Hamas is expected to release 20 surviving hostages over the coming days in exchange for Palestinian detainees, while Israeli forces will begin withdrawing from most of Gaza.

Gaza | Israel and Hamas have agreed to the “first phase” of a peace plan to pause fighting and release some hostages and prisoners held in Gaza, bringing the best hope yet of a definitive end to a bloody two-year conflict that has killed ten of thousands, destabilised much of the Middle East and prompted protests across the world.

Health | Ministers are preparing to raise the amount the NHS pays pharmaceutical firms for medicines by up to 25% after weeks of intensive talks with the Donald Trump administration and drugmakers.

Education | Universities in the UK reassured arms companies they would monitor students’ chat groups and social media accounts after firms raised concerns about campus protests, according to internal emails.

AI | The Bank of England has warned there is a growing risk of a “sudden correction” in global markets as it raised concerns about soaring valuations of leading AI tech companies.

Politics | The Conservatives will scrap stamp duty on sales of primary residences if they win the next election, Kemi Badenoch has said, in a policy-heavy speech designed to improve her standing as Tory leader and her party’s economic credibility with voters.