Israel's former Finance Ministry director general says a conflict with a nuclear Iran involves a considerable economic cost to Israel, and that war with Iran would be much more expensive than Second Lebanon War.

Last week's terror attack in Sinai prompted authorities in Cairo to clamp down on the smuggling tunnels connecting Egyptian Rafah and the Gaza Strip. For around 70,000 Palestinians whose livelihoods depend on the tunnels, it is a severe blow. Avi Issascharoff interviews one of those 70,000.

Egyptian President Mohammed Morsi is considering calls to amend the Camp David Accords in order to ensure his country's "full sovereignty" over the Sinai Peninsula, his legal adviser, Mohammed Gadallah told Al-Masry Al-Youm in a report published on Tuesday.

Former Syrian Prime Minister Riyad Hijab said on Tuesday President Bashar Assad's government is falling apart and only controls 30 percent of the country, in his first public appearance since defecting to the opposition.

Israel's capital city's skyline is going to change beyond recognition after the Jerusalem Planning and Building Committee on Monday approved a plan to build 12 skyscrapers at the city's entrance. The goal is to turn the area around the Binyanei Hauma convention center and central bus station into the capital's main business quarter.

Egypt on Tuesday opened its border with the Hamas-ruled Gaza Strip for a three-day period ahead of a major Muslim holiday this weekend, but imposed tight restrictions on who can travel and did not say whether it would resume normal border operations.

In an interview to MSNBC, Israeli Ambassador to the U.S. Michael Oren stressed that the Israeli clock on Iran "is ticking faster" than the American one.

MK Avi Dichter (Kadima) is set to be appointed Minister for Home Front Defense this coming Thursday, days after former minister Matan Vilnai left the post in order to become ambassador to China.