Israeli forces attacked a target on the Syrian-Lebanese border overnight, a Western diplomat and a security source said on Wednesday, at a time of growing concern in the Jewish state over the fate of Syrian chemical and conventional weapons.

President Shimon Peres is expected Wednesday to open consultations with the parties elected to the new Knesset, after which he will announce who he will given the task of forming the next government. Meanwhile, Yesh Atid leader Yair Lapid and Habayit Hayehudi leader Naftali Bennett are coordinating their positions with the aim of advancing legislation that will equalize the military service burden.

Israel approved the transfer of some NIS 400 million in Palestinian tax funds it collects to the Palestinian Authority. The transfer of those funds was frozen at the end of November 2012, after the Palestinians petitioned the United Nations General Assembly to upgrade their status to that of nonmember observer state.

Iran's elite Quds Force and Hezbollah militants are learning from a series of botched terror attacks over the past two years and pose a growing threat to the U.S. and other Western targets as well as Israel, a prominent U.S. counterterrorism expert wrote in a report.

An Israel Football Association disciplinary tribunal fined Beitar Jerusalem NIS 50,000 and ordered the eastern siratand of Teddy Stadium closed for the team’s next five games, after fans hurled racist abuse during the team’s game on Saturday against Bnei Yehuda. The fans were protesting the team’s plan to sign two Muslim players from Chechnya.

Israel Police will pay NIS 62,500 in compensation to three Kahanist activists for their unlawful detention in 2008, under an agreement affirmed Tuesday by the Jerusalem Magistrate’s Court. The incident occurred after the terror attack at Jerusalem’s Mercaz Harav yeshiva in March 2008.

Israeli filmmaker Dror Moreh, who directed the Oscar-nominated documentary The Gatekeepers, told CNN that Prime Minister Benjamin Netanyahu played a part in creating the charged public atmosphere that led to the assassination of then Prime Minister Yitzhak Rabin.

Bank of Israel Governor Stanley Fischer, who announced his resignation on Tuesday, was seen as the "responsible adult" who received a great deal of public confidence.