Israel: History
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Britain seizes Palestine from the Ottomans and gives support to a "national home for the Jewish people" in Palestine through the Balfour Declaration.
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Israel declares independence as the British mandate ends.
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Israeli forces strike targets in Egypt, Jordan, and Syria in response to a buildup of Arab armies along Israel's border. Israel gains control of the Sinai Peninsula, the Golan Heights, the Gaza Strip, the West Bank, and East Jerusalem.
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A new austerity program is implemented to tackle hyperinflation and stabilize Israel's currency. Subsequently, a new currency, the New Israeli Shekel, introduced.
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Israeli and Palestinian leaders participate in an international conference in Annapolis, Maryland, and commit to launch negotiations towards the establishment of a Palestinian state in the West Bank and Gaza with a realization of peace.
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Major offshore natural gas deposits are discovered.
Sources:
BBC NewsBritannica