It is 11 o’clock, 4 am GMT. The cease fire officially begins in one hour. May peace descend on Lebanon and Israel and may all know peace and safety.
UPDATE: How does Israel plan to implement the cease fire? Take a look at a YNet article in English.
CNN has the time of the ceasefire wrong. They correctly state that it is at 5:00 GMT, but incorrectly say that equals 1:00 am ET and 8:00 Israel Time. Bagdad is 3 hours ahead of GMT, but Israel is only 2 hours ahead of GMT. Pretty silly mistake. (You can find a world clock here.)
Update 3: It seems that I was wrong. An article in Haartez said the cease fire began at 7 am local time in Israel and everyone else in the US seems to be reporting 8 am. (Unless, shockingly (sarcasm) Israeli press knows more about what is happening in Israel than the American press.)