There is widespread coverage this morning of the open-ended ceasefire brokered by Egypt, which was agreed yesterday between Israel and Hamas, with coverage in the Times, Financial Times, Telegraph, Guardian, Independent, Daily Mail, Independent i, Daily Express, Sun and Metro. All reports emphasise that the agreement requires Israel to relax restrictions on goods for humanitarian and reconstruction purposes, but postpones talks on core issues such as demilitarisation, sea and air ports for a month. Consequently, the Independent says that Hamas “has little to show” for the past seven weeks of violence. Meanwhile, the Financial Times notes dissatisfaction from Israeli leaders on all sides of the political spectrum, who feel that little has been achieved during Operation Protective Edge.

City AM reports that the Bank of Israel slashed interest rates to a record low level, with Israel experiencing an economic slowdown, partly as a result of the Gaza conflict. Meanwhile, the Telegraph and the online edition of the Guardian report that Maccabi Tel Aviv head coach Oscar Garcia, who last season coached at Brighton, has quit his job after less than three months in the role, due to the “current security situation.”

The Independent and its sister publication Independent i both cover controversy surrounding the film Villa Touma, which is set to premiere at the Venice Film Festival. The film, which tells the story of aristocratic Palestinian sisters in Ramallah under occupation, was directed by an Arab citizen of Israel with the help of £230,000 from the Israel Film Fund. However, after the director asked to submit the picture as a Palestinian, rather than Israeli film, Israel’s Minister for Culture suggested that the film-maker should return the money.

Elsewhere in the region, the Times and the online editions of the Guardian and Independent all cover claims in the United States that Egypt and the United Arab Emirates (UAE) carried out air strikes on the Libyan capital Tripoli, in an attempt to prevent Islamists from gaining control of the city’s airport. Writing in the Guardian, Ian Black says that if true, the incident reflects UAE determination to halt Islamists in the region and also highlights its rivalry with Qatar.

In the Israeli media, the announcement that an open-ended ceasefire had been agreed between Israel and Hamas is the overwhelming lead item in Yediot Ahronot, Israel Hayom, Haaretz, Maariv and Makor Rishon.

There is plenty of analysis of the agreement and Operation Protective Edge as a whole. Nahum Barnea in Yediot Ahronot is highly critical of Prime Minister Benjamin Netanyahu, saying “Israelis expected a leader, a statesman who knows what he wants to achieve … They received a seasoned spokesperson, and very little beyond that.” In Maariv, Ben Caspit says that the campaign resulted in “a draw” with Israel recording tactical achievements but no strategic victory. Similarly, Alex Fishman in Yediot Ahronot says that both Israel and Hamas “can declare victory, but this is a pyrrhic victory.”

Meanwhile, Israel Radio news reports comments made by local mayors in the south of the country, with several critical of the ceasefire agreement. The Mayor of Eshkol said that he will not yet call for residents who had left the area to return home while the Ashkelon Mayor said that another round of violence is inevitable.