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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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Rights Groups Condemn Re-Arrest of Nobel Laureate Mohammadi in Iran
Taghi Ramahi, husband of Narges Mohammadi, a jailed Iranian women’s rights advocate, who won the 2023 Nobel Peace Prize, poses with an undated photo of himself and his wife, during an interview at his home in Paris, France, October 6, 2023. Photo: REUTERS/Christian Hartmann
International human rights groups have condemned the re-arrest of Nobel Peace Prize laureate Narges Mohammadi in Iran, with the Nobel committee calling on Iranian authorities to immediately clarify her whereabouts.
Mohammadi’s French lawyer, Chirine Ardakani, said on X that the human rights activist was arrested on Friday after denouncing the suspicious death of lawyer Khosrow Alikordi at his memorial ceremony in the northeastern city of Mashhad.
Mashhad prosecutor Hasan Hematifar told reporters on Saturday that Mohammadi was among 39 people arrested after the ceremony.
Hematifar said she and Alikordi’s brother had made provocative remarks at the event and encouraged those present “to chant ‘norm‑breaking’ slogans” and disturb the peace, the semi-official Tasnim news agency reported.
The prosecutor said Mashhad’s chief of police and another officer received knife wounds when trying to manage the scene.
CALLS FOR RELEASE
The Norwegian Nobel Committee called on Iranian authorities “to immediately clarify Mohammadi’s whereabouts, ensure her safety and integrity, and to release her without conditions.”
The European Union also called for Mohammadi’s release. “The EU urges Iranian authorities to release Ms Mohammadi, taking also into account her fragile health condition, as well as all those unjustly arrested in the exercise of their freedom of expression,” an EU spokesperson said on Saturday.
A video purportedly showing Mohammadi, 53, without the mandatory veil, standing on a car with a microphone and chanting “Long Live Iran” in front of a crowd, has gone viral on social media.
Ardakani said Mohammadi was beaten before her arrest.
Reporters Without Borders said four journalists and other participants were also arrested at the memorial for human rights lawyer Alikordi, who was found dead in his office on December 5.
Authorities gave the cause of his death as a heart attack, but rights groups have called for an investigation into his death.
The US-based Human Rights Activists News Agency said the crowd also chanted “death to the dictator,” a reference to Supreme Leader Ayatollah Ali Khamenei, as well as: “We fight, we die, we accept no humiliation.”
Mohammadi, who received the 2023 Nobel Peace Prize, has spent more than 10 years of her life in prison, most recently from November 2021 when she was charged with “propaganda against the state,” “acting against national security,” and membership of “illegal organizations.”
This year’s Nobel Peace Prize winner, the Venezuelan opposition leader Maria Corina Machado, said on Saturday that the opposition’s campaign in Venezuela was akin to that taking place in Iran.
“In Oslo this week, the world honored the power of conscience. I said to the ‘citizens of the world’ that our struggle is a long march toward freedom. That march is not Venezuelan alone. It is Iranian, it is universal,” she said on X on Saturday.
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Pete Hegseth Pledges Retribution After Islamist Gunmen in Syria Kills 2 US Soldiers and Civilian, Injuring 3
US Defense Secretary Pete Hegseth attends a Senate Appropriations Committee hearing on US President Donald Trump’s budget request for the Department of Defense, on Capitol Hill in Washington, DC, US, June 11, 2025. Photo: REUTERS/Elizabeth Frantz
i24 News – Two US Army soldiers and a civilian interpreter were killed in an Islamic State attack on Saturday in Palmyra, Syria, where they were supporting counterterrorism operations, the Pentagon said.
Three others were wounded, Pentagon spokesman Sean Parnell said. Defense Secretary Pete Hegseth said the attacker was killed by partner forces.
The Syrian Interior Ministry said that shooter in the deadly attack in Palmyra was a “member of the Syrian security forces who was influence by extremist ideology.”
President Donald Trump posted that “We mourn the loss of three Great American Patriots in Syria, two soldiers, and one Civilian Interpreter. Likewise, we pray for the three injured soldiers who, it has just been confirmed, are doing well.”
“This was an ISIS attack against the US, and Syria, in a very dangerous part of Syria, that is not fully controlled by them. The President of Syria, Ahmed al-Sharaa, is extremely angry and disturbed by this attack. There will be very serious retaliation. Thank you for your attention to this matter!”
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Israel Says It Kills Senior Hamas Commander Raed Saed in Gaza
Palestinians inspect the site of an Israeli strike on a car in Gaza City, December 13, 2025.REUTERS/Dawoud Abu Alkas
The Israeli military said it killed senior Hamas commander Raed Saed, one of the architects of the October 7, 2023 attacks on Israel, in a strike on a car in Gaza City on Saturday.
It was the highest-profile assassination of a senior Hamas figure since a Gaza ceasefire deal came into effect in October.
In a joint statement, Israeli Prime Minister Benjamin Netanyahu and Defense Minister Israel Katz said Saed was targeted in response to an attack by Hamas in which an explosive device injured two soldiers earlier on Saturday.
The attack on the car in Gaza City killed five people and wounded at least 25 others, according to Gaza health authorities. There was no immediate confirmation from Hamas or medics that Saed was among the dead.
HAMAS SAYS ATTACK VIOLATES CEASEFIRE AGREEMENT
An Israeli military official described Saed as a high-ranked Hamas member who helped establish and advance the group’s weapons production network.
“In recent months, he operated to reestablish Hamas’ capabilities and weapons manufacturing, a blatant violation of the ceasefire,” the official said.
Hamas sources have also described him as the second-in-command of the group’s armed wing, after Izz eldeen Al-Hadad.
Saed used to head Hamas’ Gaza City battalion, one of the group’s largest and best-equipped, those sources said.
Hamas, in a statement, condemned the attack as a violation of the ceasefire agreement but did not say whether Saed was hurt and stopped short of threatening retaliation.
The October 10 ceasefire has enabled hundreds of thousands of Palestinians to return to Gaza City’s ruins. Israel has pulled troops back from city positions, and aid flows have increased.