Obama's first call as President of the United States to a foreign leader was to Abbas. Mahmoud Abbas is the President of the Palestinian National Authority (in control of the West Bank). What does it mean? It is to early to tell, but I imagine that Israel is not happy about it.
More at http://www.timesonline.co.uk/tol/news/world/us_and_americas/us_elections/article5563280.ece.