Palestinian President Mahmoud Abbas said on Thursday he would seek to have the Palestinians' U.N. status upgraded to a sovereign country and cautioned that Israeli settlement expansion meant time was running out for a two-state solution. "Despite all the complexities of the prevailing reality and all the frustrations that abound, we say before the international community there is still a chance—maybe the last—to save the two-state solution and to salvage peace," Abbas told the U.N. General Assembly. But he warned the 193-nation assembly that Israel was "promising the Palestinian people a new catastrophe" if it continues with its current Jewish...