Palestinian president to attend Gaza peace summit in Egypt

Palestinian President Mahmoud Abbas will attend a Gaza peace summit to be held in Egypt's Red Sea resort city of Sharm El-Sheikh on Monday, according to Al Arabiya on Sunday.

But the Israeli Prime Minister's Office said on Sunday that its representatives will not attend the summit.

The Sharm El-Sheikh summit will finalize an agreement between Israel and Hamas to end the war in Gaza, the Egyptian presidency announced in a statement on Saturday.

The meeting will be co-chaired by Egyptian President Abdel-Fattah al-Sisi and U.S. President Donald Trump, with the participation of leaders from more than 20 countries, the statement said.

On Monday local time, Iranian Foreign Minister Seyed Abbas Araghchi announced that Iran would not attend the meeting.

Araghchi expressed gratitude for the invitation from Egyptian President Abdel Fattah al-Sisi and emphasized that Iran supports resolving disputes through diplomatic means, but Iran "cannot engage with counterparts who have attacked the Iranian people and continue to threaten and sanction us."

The ceasefire deal between Israel and Hamas came into effect on Friday, following three days of intensive negotiations in Sharm El Sheikh between the two sides mediated by Egypt, Qatar, Türkiye and the United States.

The first phase of the plan includes Israeli troop withdrawals from Gaza City, Rafah, Khan Younis, and the north, the opening of five crossings for aid, and the release of hostages and prisoners.

More than two years of Israeli military operations have devastated Gaza, killing over 67,000 people and triggering famine, according to Gaza's health authorities.

The U.S. dollar advanced in late trading on Friday.

The dollar index, which measures the greenback against six major peers, gained 0.05 percent to 100.953 at 15:00 U.S. Eastern Time (1900 GMT).

In late New York trading, the euro lost to 1.1416 U.S. dollars from 1.1434 dollars in the previous session, and the British pound dropped to 1.3398 dollars from 1.3416 dollars in the previous session.

The U.S. dollar bought 161.69 Japanese yen, lower than 162.34 Japanese yen of the previous session. The U.S. dollar was up to 0.8085 Swiss francs from 0.8066 Swiss francs, and it declined to 1.4152 Canadian dollars from 1.4167 Canadian dollars. The U.S. dollar climbed to 9.6638 Swedish kronor from 9.6602 Swedish kronor.