An initiative to secure a ceasefire in Gaza and release Israeli hostages is being discussed between Arab states as part of a wider deal which would see them normalise ties with Israel – only if it guarantees Palestinian statehood, the Financial Times has reported. The plan could be presented within “a few weeks,” FT said, quoting a senior Arab official. It aims to prevent a wider regional conflagration, as tensions brew on several fronts. Regional powerhouse Saudi Arabia, which suspended normalisation talks with Israel at the onset of the Gaza war, could be among the states that officially rec…