One of the rockets fired at Eilat
One of the rockets fired at Eilat. Photo by Eilat Police
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Local airlines declared an open-ended strike after the Open Skies agreement was signed in by the Israeli cabinet. Proposal, meant to increase competition and lower airfares, causes El Al stocks to drop by 6%.

U.S. Defense Secretary Chuck Hagel arrived in Israel to kick in a week-long regional visit that is expected to focus on Iran, the Syrian civil war and weapons sales to America's allies.

Ron Dermer, a candidate for the post of Israeli ambassador to Washington, told U.S. Jewish leaders in NY that the Boston marathon bombings would increase American support for Israel.

An Israeli Arab youth was fatally shot after allegedly opening fire on police officers with an Uzi.

An investment manager was convicted of massive fraud; found guilty on hundreds of criminal charges.

Israeli gymnast Alex Shatilov tied for gold at the European Championships taking place in Moscow.

Prime Minister Benjamin Netanyahu said the rockets launched at Eilat last week were the work of a Gaza-based terror group, which will be forced to 'pay a price.'

And in Egypt, President Mohammed Morsi asked his Russian counterpart Vladimir Putin for a $2 billion loan; the request is expected to be granted.