Hamas Is Set to Release More Foreigners From Gaza

Israel said its forces are pushing deeper into Gaza، including making advances into Gaza City in the north، amid heavy fighting against Hamas militants.

Joe Biden said Israel and Hamas، designated a terrorist group by the US، should “pause” fighting to allow time to free more hostages from Gaza. Israel said 17 of its solders have so far died during battles in the enclave.

Hamas said 600 more foreigners and dual nationals، including 400 American citizens، are expected to leave Gaza on Thursday. That would be the second batch to exit since the border with Egypt was opened on Wednesday — when people were allowed to leave for the first time since the Israel-Hamas war started Oct. 7.

Israeli assets looked set to post their first weekly gain since the start of the conflict، with the TA-35 equity index rising 1.4% on Thursday، extending its weekly increase to 4.5%. The shekel appreciated 0.5% to below 4 per dollar، headed for the strongest on a closing basis since Oct. 13.

Even after the rebound، the shekel remains more than 3% weaker than when hostilities began on Oct. 7، while stocks are more than 8% lower.

The cost to insure debt against default

The cost to insure Israeli debt against default using 5-year credit default swaps was 143 basis points as of yesterday، more than doubling from 59 basis points before the war. That means traders are now pricing Israel’s credit risk as roughly on par with Morocco’s، a country whose credit rating at Moody’s is six notches below it.

Israeli soldiers continue to advance in the area of Gaza City and are “conducting close combat battles with Hamas terrorists and expanding the fighting،” military spokesman Daniel Hagari said.

They are destroying Hamas defense lines in the north of the Gaza Strip، where Gaza City is located، and are taking control of some central areas، Hagari said.

Forces near the northern border with Lebanon are at “high readiness” amid a continuation of attacks، including mortar fire، from the other side of the frontier، he said. Israel and Hezbollah have exchanged fire almost daily since Oct. 7.

Israel lost 332 soldiers

Hagari said Israel had lost 332 soldiers since Hamas’s attack، including those killed on the day of the assault. The number of hostages in the Gaza Strip is currently estimated to be 242، he said.

“The hand behind this is Iran،” H.R. McMaster، a US national security advisor under ex-President Donald Trump، said، referring to Hamas’s actions and Israeli skirmishes with militants in Lebanon and Syria. “They’re trying to place proxy armies on the border with Israel. They’re executing that strategy. It’s already a regional war.”

Iran is using proxy forces for its “ring of fire strategy to destroy Israel،” McMaster said to Bloomberg Television. “Sadly، it’s a conflict that’s likely to escalate، at least within the region.”

He added it’s unrealistic to call on Israel to implement a cease-fire given Hamas’s intentions remain so hostile.

Egypt’s foreign ministry says it’s working with other states to facilitate the evacuation from Gaza of around 7،000 foreigners، representing more than 60 countries.

The ministry said it had met with foreign ambassadors and other officials to brief them on the efforts being made to bring the foreign passport holders out through the Rafah border crossing.

The Israel Defense Forces announced the death of a 25-year old male soldier، age 25، in battle in Gaza. That brings the IDF death toll in Gaza to 17 since the start of its ground operation last weekend.

Russia’s envoy to the United Nations said Israel doesn’t have the right to self-defense because it’s an “occupying power” in Palestinian territories.

The Russian ambassador، Vassily Nebenzia، told an emergency session of the UN General Assembly late Wednesday that Israel is entitled to fight terrorism and ensure its security. “But fight with terrorists، not with civilians،” he said.

Hosting a conference in Japan

Japan said Foreign Minister Yoko Kamikawa will visit Israel، the West Bank and Jordan during a trip from Thursday to Sunday. She will meet her Israeli counterpart in Tel Aviv and talk with family members of people taken hostage by Hamas before traveling to Ramallah to meet Riyad al-Maliki، the foreign minister of the Palestinian Authority، which governs Palestinians in the West Bank.

Energy-poor Japan had tended to prioritize its relations with oil-producing countries in the Middle East، and was slow to describe the Oct. 7 Hamas incursion into southern Israel as an act of terrorism. Kamikawa’s unusual visit to an area comes days before Japan hosts US Secretary of State Antony Blinken and other G-7 foreign ministers for a conference in Tokyo.

The Israel Defense Forces said its ground troops destroyed more of Hamas’s infrastructure in Gaza overnight، and killed dozens of militants in the northern part of the strip، where Israeli soldiers are concentrated.

Hamas published a list of hundreds of foreigners and dual-national Palestinians slated to exit the Gaza Strip on Thursday. The list of those who will depart via the Rafah crossing included 400 US citizens and 196 people with other nationalities.

The Rafah crossing between Gaza and Egypt opened yesterday for people to leave the Palestinian territory، the first time that had happened since the Israel-Hamas war began on Oct. 7.

First Foreigners، Injured Palestinians Leave Gaza for Egypt

Joe Biden took credit for persuading Israeli Prime Minister Benjamin Netanyahu to allow time to “get the prisoners out” before launching a ground invasion of Gaza. He also said he helped talk Egyptian President Abdel-Fattah El-Sisi into letting foreigners and wounded Palestinians leave Gaza for his country.

He urged Israel and Hamas to “pause” fighting to allow time to free more hostages from Gaza.

Progressive groups، as well as Muslim and Arab Americans، have criticized Biden over his support for Israel’s campaign against Hamas that has resulted in thousands of civilian deaths in Gaza.

Latin America’s leftist leaders are reevaluating their relations with Israel over its offensive in the Gaza Strip، highlighting the diplomatic risks posed by Prime Minister Benjamin Netanyahu’s bid to eradicate Hamas.

On Tuesday، Colombia and Chile recalled their ambassadors to Israel for consultations in protest. The hard-left government of Bolivia cut off diplomatic relations with Israel altogether، accusing it of “crimes against humanity.”

The same day، Jordan، which borders Israel، also recalled its ambassador in protest at Israeli military operations in Gaza.