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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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Trump Says Gas Prices May Remain High Through November Midterm Election
U.S. President Donald Trump takes questions from reporters while Vice President JD Vance and Secretary of State Marco Rubio look on, as they attend a meeting with oil industry executives, at the White House in Washington, D.C., U.S., January 9, 2026. REUTERS/Kevin Lamarque
US President Donald Trump said on Sunday that the price of oil and gasoline may remain high through November’s midterm elections, a rare acknowledgement of the potential political fallout from his decision to attack Iran six weeks ago.
“It could be, or the same, or maybe a little bit higher, but it should be around the same,” Trump, who is in Miami for the weekend, told Fox News’ “Sunday Morning Futures With Maria Bartiromo” when asked whether the cost of oil and gas would be lower by the fall.
The average price for regular gas at US service stations has exceeded $4 per gallon for most of April, according to data from GasBuddy. Trump’s comments on Sunday came after weeks of asserting that the spike in prices is a short-term phenomenon, though his top advisers are cognizant of the war’s economic impacts, officials have said.
Earlier on Sunday, Trump announced on social media that the US Navy would blockade the Strait of Hormuz and intercept any ship that paid a crossing fee to Iran, after marathon talks between the US and Iran in Pakistan over the weekend did not yield a peace deal.
“No one who pays an illegal toll will have safe passage on the high seas,” he wrote on Truth Social.
Any US blockade is likely to add more uncertainty to the eventual resolution of the conflict, which is currently subject to a tenuous two-week ceasefire. The new tactic is in response to Iran’s own closure of the strait’s critical shipping lanes, which has caused global oil prices to skyrocket about 50%.
UNPOPULAR WAR HITS TRUMP’S APPROVAL
The war began on February 28, when the US launched a joint bombing campaign with Israel against Iran. The scope quickly expanded as Iran and its allies attacked nearby countries, while Israel targeted Hezbollah with massive strikes in Lebanon.
The war has buffeted global financial markets and caused thousands of civilian deaths, mostly in Iran and Lebanon.
Trump’s political standing at home has suffered, with polls showing the war is unpopular among most Americans, who are frustrated by rising gasoline prices.
The president’s approval rating has hit the lowest levels of his second term in office, raising concern among Republicans that his party is poised to lose control of Congress in the midterm elections. A Democratic majority in either chamber could launch investigations into the Trump administration while blocking much of his legislative agenda.
US Senator Mark Warner of Virginia, the ranking Democrat on the Senate Intelligence Committee, questioned the strategy behind Trump’s planned blockade.
“I don’t understand how blockading the strait is going to somehow push the Iranians into opening it,” he told CNN’s “State of the Union” on Sunday.
In a separate appearance on CBS’s “Face the Nation,” Warner said the blockade would not undermine Iranian control of the waterway.
“The Iranians have hundreds of speedboats where they can still mine the strait or put bombs against tankers in closing the strait,” he said. “How is that going to ever bring down gas prices?”
Although Trump has repeatedly said that the war would be over soon, Republican US Senator Ron Johnson of Wisconsin told ABC News’ “This Week” on Sunday that achieving US aims in Iran “could take a long time.”
“It’s going to be a long-term project,” said Johnson, who was not asked about Trump’s proposed blockade. “I never thought this would be easy.”
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Israel’s Ben-Gvir Visits Flashpoint Al-Aqsa Mosque Compound
Israeli politician Itamar Ben-Gvir walks inside the Knesset, in Jerusalem, Oct. 13, 2025. Photo: Chip Somodevilla/Pool via REUTERS
Israel’s far-right police minister Itamar Ben-Gvir visited the flashpoint Al-Aqsa Mosque compound in Jerusalem on Sunday, saying he was seeking greater access for Jewish worshipers and drawing condemnation from Jordan and the Palestinians.
The compound in Jerusalem’s walled Old City is one of the most sensitive sites in the Middle East. Known to Jews as Temple Mount, it is the most sacred site in Judaism and is Islam’s third-holiest site.
Under a delicate, decades-old arrangement with Muslim authorities, it is administered by a Jordanian religious foundation and Jews can visit but may not pray there.
Suggestions that Israel would alter the rules have sparked outrage among Muslims and ignited violence in the past.
“Today, I feel like the owner here,” National Security Minister Ben-Gvir said in a video filmed at the site and distributed by his office. “There is still more to do, more to improve. I keep pushing the Prime Minister (Benjamin Netanyahu) to do more and more — we must keep rising higher and higher.”
A statement from the Jordanian foreign ministry said it considered Ben-Gvir’s visit to be a violation of the status quo agreement at the site and “a desecration of its sanctity, a condemnable escalation and an unacceptable provocation.”
The office of Palestinian president, Mahmoud Abbas, said such actions could further destabilize the region.
Ben-Gvir’s spokesman said the minister was seeking greater access and prayer permits for Jewish visitors. He also said that Ben-Gvir had prayed at the site.
There was no immediate comment from Netanyahu’s office. Previous such visits and statements by Ben-Gvir have prompted Netanyahu announcements saying that there is no change in Israel’s policy of keeping the status quo.
Muslim, Christian and Jewish sites, including Al-Aqsa had been largely closed to the public during the Iran war. There was no immediate sign of unrest on Sunday after Ben-Gvir’s visit.
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Netanyahu Visits Troops Fighting Hezbollah in Southern Lebanon
Israeli Prime Minister Benjamin Netanyahu speaks during a press conference at the Prime Minister’s office in Jerusalem, Aug. 10, 2025. Photo: ABIR SULTAN/Pool via REUTERS
i24 News – Israeli Prime Minister Benjamin Netanyahu visited Israeli forces operating in southern Lebanon on Sunday as military operations against Hezbollah-linked targets continue.
Netanyahu toured forward positions alongside Defense Minister Yisrael Katz, Eyal Zamir, and Northern Command Commander Rafi Milo, meeting troops and receiving operational briefings from commanders on the ground.
Speaking to soldiers, Netanyahu praised their performance and said operations in the Lebanese security zone were ongoing.
“The war continues, including within the security zone in Lebanon,” he said, adding that Israeli forces were working to prevent infiltration attempts and neutralize threats such as anti-tank fire and missiles.
He described the northern campaign as part of a broader regional struggle involving Iran and its allies, saying Israel’s adversaries were now “fighting for their survival” following sustained Israeli military pressure.