Israel's government and Hamas have agreed to a four-day pause to allow the release of 50 hostages held in Gaza in exchange for 150 Palestinian children (under the age of 19) and women from Israeli prisons.
The truce deal will also allow hundreds of trucks of humanitarian, medical and fuel aid to enter Gaza.
Reports suggest the exchange will take place in stages, at a rate of 10 hostages and 30 Palestinian prisoners per day, with the rest being released on the last day of the truce.
The deal, brokered following mediation by Qatar, Egypt and the United States, also stipulates stopping Israeli air traffic for four days in the south of the Gaza Strip and for six hours a day in the north.
Ahead of the announcement of the deal, Israeli Prime Minister Benjamin Netanyahu said Israel's broader mission had not changed. "We are at war and we will continue the war until we achieve all our goals. To destroy Hamas, return all our hostages and ensure that no entity in Gaza can threaten Israel," he said in a recorded message at the start of the government meeting.
Pakistan and Afghanistan agreed to a 'temporary ceasefire' on Wednesday, Islamabad said, after an airstrike and ground fighting sent tensions between the South Asian neighbours soaring, killing more than a dozen civilians.
Aid trucks rolled into Gaza on Wednesday and Israel resumed preparations to open the main Rafah crossing after a dispute over the return of the bodies of dead hostages that had threatened to derail the fragile ceasefire deal with Hamas.
Fresh fighting broke out on Wednesday along the volatile Pakistan-Afghanistan border, killing more than a dozen civilians and troops to shatter a fragile peace after weekend clashes that killed dozens.
Toxic gas and a locked door that barred access to a roof were responsible for most of the deaths in a devastating fire in a Bangladesh garment factory and an adjoining chemical warehouse, a fire official said on Wednesday.
Kenya's veteran opposition leader Raila Odinga, who was imprisoned while fighting one-party autocracy and ran five times unsuccessfully for the presidency, has died at the age of 80, sources close to him said on Wednesday.