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2 Israeli tech firms to pull funds out of the country, citing risk posed by Netanyahu government
(JTA) — The Israeli founder of an international payroll company that provides services to Toyota and Microsoft has announced that she will move her company’s money out of Israel over concerns about its new right-wing government.
Eynat Guez, a co-founder and CEO of Papaya Global, which was valued at $3.7 billion in 2021, made the announcement Thursday on Twitter. Her announcement came the morning after Israeli Prime Minister Benjamin Netanyahu defended his government’s proposed judiciary reforms and after weeks of mounting warnings, from within Israel and abroad, that the reforms could harm Israel’s credit rating. Netanyahu dismissed those warnings on Wednesday as overblown.
“Following Prime Minister Netanyahu’s statements that he is determined to pass reforms that will harm democracy and the economy, we made a business decision at Papaya Global to withdraw all of the company’s funds from Israel,” Guez tweeted on Thursday morning. “In the emerging reform, there is no certainty that we can conduct international economic activity from Israel. This is a painful but necessary business step.”
Guez has emerged as a leader within Israel’s vaunted tech sector in protests against the new government, speaking at a rally of tech workers in Tel Aviv that took place last weekend amid protests around the country. The rallies are largely focused on the governing coalition’s judiciary proposals, including legislation that would allow the Knesset, Israel’s parliament, to overrule Supreme Court decisions.
In her speech, Guez said she had been encouraged to raise money for Papaya Global from the United States, a common step for Israeli firms, but had resisted because she wanted to live in Israel and raise her children there, the way her parents had after immigrating from their birthplaces in Morocco and Tunisia.
She also noted that $54 billion in capital from abroad had been invested in Israeli companies in the past three years. “Without a democracy, we’d never have these $54 billion,” she said. “And not the tens of thousands of employees who joined the high-tech sector in recent years.”
Guez said foreign investors had been calling with concern about whether Israel’s democracy was crumbling. “Just like in Brazil, Venezuela and Hungary, no leading investor or financial institute will let his billions stay in a country with a crumbling democracy,” she said. She added, “Let’s say this loud and clear: Startup Nation without a democracy cannot stand.”
A second, smaller Israeli tech company is also moving its bank accounts out of Israel, according to the Israeli tech publication Calcalist. The firm, Disruptive AI, raises money for artificial intelligence startups and manages $250 million in funds.
Guez did not further explain Papaya’s business decision on Thursday and how it would affect the company or its employees. The company, which says it manages more than $3 billion in payroll for companies in 160 countries, entered the ranks of Israel’s “unicorn” tech firms in early 2021, meaning that it was valued at over $1 billion. It raised $250 million against a valuation of $3.7 billion later that year.
Israel’s tech sector has been experiencing the same downturn as the global tech sector, in which sweeping layoffs have been taking place in recent weeks. Last year was the worst since 2014 for the number of Israeli companies being acquired or going public.
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Palestinian Authority TV Denies Holocaust for Second Time in a Month
French President Emmanuel Macron welcomes Palestinian President Mahmoud Abbas at the Elysee Palace in Paris, France, Nov. 11, 2025. Photo: REUTERS/Benoit Tessier
Two weeks ago, Palestinian Media Watch exposed that Palestinian Authority (PA) television hosted a journalist who insisted the gas chambers “narrative” could be dismissed with “very simple evidence.”
Now, PA TV has done it again. This time, the channel invited a Syrian journalist who said the war in Gaza is the “real” holocaust while the history of the Nazi Holocaust of the Jews is a “game that Israel plays”:
Senior Syrian journalist Mustafa Al-Miqdad: “It is incumbent upon the Palestinians today and those who support them to show the extent of the holocaust and genocide that the Palestinians have experienced for two years and almost a month in the Gaza Strip …
[They] were subjected to this holocaust, the real one- Regarding the Holocaust of the Jews there are many question marks from the Westerners, and not from our side that we deny it. Even from the West in general there are many stories that refute the accuracy of the [Jewish] narrative even if they talk about part of it, they talk about this [lack of] accuracy. This is the game that Israel plays.” [emphasis added]
[Official PA TV, Capital of Capitals, Nov. 16, 2025]
Antisemitism and demonization of the Jews constitute a core ideology of the Palestinian Authority and pave the way for it to incite and justify terror against Israelis. A key PA strategy towards this end is to delegitimize the Jewish people and their history, while replacing it with a fabricated story.
Whether denying Jewish history in the Land of Israel to brand Jews as “colonialists” — or denying and appropriating the Holocaust — official PA TV consistently broadcasts content designed to cultivate hatred of Jews and Israel.
It is difficult to comprehend how any Western government, particularly France with all that it went through in World War II, can still speak of the Palestinian Authority as reformed or of its chairman as “charting a course toward a horizon of peace” when PA media continues to broadcast shocking forms of Holocaust denial and appropriation.
Yet French President Macron and others insist on rewarding the Palestinians with a state governed by this very PA. Instead of demanding the most basic moral prerequisite for statehood — ending institutional antisemitism — Western leaders turn a blind eye.
Ephraim D. Tepler is a contributor to Palestinian Media Watch (PMW). Itamar Marcus is the Founder and Director of PMW, where a version of this article first appeared.
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Norway Government Budget in Peril Over Oil, Wealth Fund’s Israel Investments
A general view shows Norway’s parliament in Oslo, Norway, Sept. 6, 2025. Photo: REUTERS/Tom Little
Norway‘s Labour government failed to win backing for its 2026 draft budget by an end-November deadline but talks will resume in parliament to find a compromise over oil drilling and the wealth fund’s Israeli investments, a negotiator said on Monday.
The Norwegian parliament is due to vote on the budget on Friday, and Prime Minister Jonas Gahr Stoere could be forced to call a vote of confidence if no agreement is reached by then, putting his minority government on the line.
The Labour Party narrowly won a second term in a September election, but the result left it reliant on four small left-wing parties to pass the budget, with only two of those, the agrarian Centre Party and the far-left Red Party, agreeing so far.
“It is surprising this is happening so soon after the election,” Jonas Stein, a political scientist at UiT the Arctic University of Norway, told Reuters.
“The Greens in particular had promised during the election that they would back Stoere as prime minister and now he could fall two-to-three months after the election.”
The climate-focused Green Party, which wants a gradual phaseout of the oil industry by 2040, walked out, as did the Socialist Left over its objections to investments by Norway‘s sovereign wealth fund in Israel.
“We must continue our work to secure a majority for this budget by Friday,” parliament’s finance committee Chair Tuva Moflag of Labour told public broadcaster NRK on Monday.
Stoere has said that Norway, Europe’s biggest supplier of gas and a major oil producer, should continue to explore for hydrocarbons to sustain the country’s biggest industry.
The government also objects to demands that Norway‘s $2 trillion sovereign wealth fund should divest from all Israeli firms, arguing that only companies involved in the alleged occupation of Palestinian territories should be excluded.
“Norwegian politics have become a bit more adversarial and a bit more polarized,” Johannes Bergh, a political scientist at the Oslo-based Institute for Social Research, told Reuters.
“It might be more comparable to what’s happening in countries like Belgium or the Netherlands, where the political landscape is very fragmented. It has become very fragmented here as well.”
Parliament is elected for a fixed four-year term, with the next vote due in 2029, making it difficult for parties on the right to challenge Stoere’s government. It is not possible to call early elections or dissolve parliament.
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South Koreans Arrested in Iran on Smuggling Charges, Seoul Says
People walk near a mural of Iran’s Supreme Leader, Ayatollah Ali Khamenei, amid the Iran-Israel conflict, in Tehran, Iran, June 23, 2025. Photo: Majid Asgaripour/WANA (West Asia News Agency) via REUTERS
South Korean nationals have been arrested in Iran on suspicion of smuggling, South Korea’s foreign ministry said in a statement on Monday, but declined to confirm the number of people arrested.
“Our diplomatic mission team in Iran has been communicating the matter with Iranian officials and will continue to provide necessary consular assistance to the Korean nationals,” the ministry said.
The ministry declined to confirm other details including their occupation or the exact nature of the charges.
Local Yonhap News separately reported two South Korean nationals were arrested, including one who works at a public institution.