Here are the latest key developments in the violence between Gaza and Israel, and the diplomatic efforts to bring peace, including a cease-fire announced earlier Wednesday.

(4:30 p.m. ET, 11:30 p.m. local) Israel makes arrest in Tel Aviv bus bombing

Israel has made an arrest in Wednesday's bus bombing in Tel Aviv that wounded 24 people, a spokeswoman for the Israel Defense Forces said Thursday.

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(4:40 a.m. ET, 11:40 a.m. local) IDF says fewer rockets from Gaza; death toll rises

An Israel Defense Forces spokeswoman says three rockets have flown out of Gaza toward Israel since the cease-fire began. Earlier figures of five to 12 rockets mentioned by officials are incorrect. Two of the rockets hit open areas, and one was intercepted by the Iron Dome defense system, she said.

The death toll in Gaza rose to 163 and 1,225 others wounded as residents and rescuers pulled more people from piles of rubble.

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(9 p.m. ET, 4 a.m. local) The cease-fire is holding

"We assumed it would take a while for the cease-fire to take hold," Israel's ambassador to the United States, Michael Oren, told CNN after initial reports of rockets still being launched from Gaza into Israel. "I understand now that it has taken hold. There hasn't been fire for a while and, of course, we are not firing, so there is a cease-fire."

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(8:30 p.m. ET, 3:30 a.m. local) The agreement

The agreement calls for Israel to halt all acts of aggression on Gaza, including incursions and the targeting of people, according to Egypt's state news agency EGYNews.

It was the November 14 assassination by Israeli forces of Ahmed al-Jaabari, the head of Hamas' military wing, that ignited the fighting.

It also calls for the Palestinian factions to cease all hostilities from Gaza against Israel, including the firing of rockets and attacks on the border.

Border crossings were to be opened Thursday night, and the movement of people and goods across them was to be eased, it said.

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(6:15 p.m. ET, 1:15 a.m. local) People in Gaza celebrate cease-fire

Gazans have been taking to the streets, firing their guns into the air in celebration of what they considered to be a victory over Israel's military.

"Their attempts backfired against them," Khaled Meshaal, a Hamas political leader, said of Israel at a news conference Wednesday night. "They wanted to destroy the infrastructure of the resistance of Hamas. They claim they have done so, and they have not. They are bankrupt."

He cited Israel's destruction of buildings and killings that included civilians. "This is their accomplishment," he said. "They have nothing else to show. And our rockets continued to strike them until the last minute."

Besides a cease-fire, the agreement calls for the discussion of a number of issues, including freedom of movement in and out of Gaza and a commitment by Israel not to target Palestinian militants within Gaza.

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(2:19 p.m. ET, 9:19 p.m. local) Israeli government spokesman Mark Regev on cease-fire agreement

Israeli government spokesman Mark Regev said the agreement calls for "complete and total cessation of all hostile activity initiated in the Gaza Strip."

"For us, that's victory. That's what we wanted," he told CNN's Wolf Blitzer.

Israel will hold Hamas responsible for any attacks from Gaza, whether conducted by that organization or any others, Regev said. He said the agreement reflects that understanding.

Regev also said the deal calls for immediate talks on economic restrictions on Gaza.

"If the border is quiet, that enables us to be more forthcoming," he said. "The arrangements agreed with the Egyptians say we'll start talking from tomorrow about a process to work on those issues."

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