Saudis to donate $1b to rebuild Gaza

Kuwait City : The Saudi king said on Monday his country will donate $1 billion to help rebuild the Gaza Strip after the devastating Israeli offensive and told Israel that an Arab initiative offering peace will not remain on the table forever.

King Abdullah's comments at an Arab economic summit in Kuwait City were his first since Israel and the Palestinian group Hamas declared a fragile cease-fire to halt three weeks of violence in Gaza that killed more than 1,250 Palestinians.