As Israeli fighter jets continue to pound the Gaza Strip, atleast 230 Palestinians, including 65 children and 39 women have been killed in 11 days of violence, as reported by the health ministry in Gaza.
12 people have been killed on the Israeli side.
The Government Media Office in Gaza has reported that the material losses in the Gaza Strip amounts to more than $322m, as 184 residential towers, houses, and 33 media centers have been completely demolished in the attacks.
Meanwhile, Joe Biden on Wednesday discussed the events in Gaza with Prime Minister Netanyahu and has requested "a significant de-escalation on the path to a ceasefire".
However, Netanyahu has defied all calls for de-escalation and said he was "determined" to continue bombarding Gaza until Israel's "aim is met".
The UN Security Council's efforts for a truce between Israel and Gaza's Hamas rulers also remain stalled.
Citing international pressure and involvement of US and other foreign officials, the Wall Street Journal (WSJ) has reported that ceasefire between Israel and Hamas could "come as early as Friday".
The newspaper also said that Egyptian officials have made headway in negotiations with Hamas' leadership while the Israeli military has privately conceded that it is nearing the completion of its objectives.
Moussa Abu Marzouk, a senior Hamas political official has also predicted a ceasefire within days in the Israeli-Gaza escalation.