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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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US Pulling Non-Essential Staff From Embassy in Beirut Amid Iran Tensions
A general view of a US State Department sign outside the US State Department building in Washington, DC, US, July 11, 2025. Photo: REUTERS/Annabelle Gordon
The State Department is pulling out non–essential government personnel and their eligible family members from the US embassy in Beirut, a senior State Department official said on Monday, amid growing concerns about the risk of a military conflict with Iran.
“We continuously assess the security environment, and based on our latest review, we determined it prudent to reduce our footprint to essential personnel,” said a senior State Department official, speaking on condition of anonymity.
“The Embassy remains operational with core staff in place. This is a temporary measure intended to ensure the safety of our personnel while maintaining our ability to operate and assist US citizens,” the official said.
A source at the US embassy said 50 people had been evacuated, while an official at Beirut airport said 32 embassy staff, along with family members, had flown out of Beirut airport on Monday.
The US has built up one of its biggest military deployments in the Middle East, with President Donald Trump warning on Thursday that “really bad things will happen” if no deal is reached to solve a longstanding dispute over Tehran’s nuclear program. Iran has threatened to strike American bases in the region if it is attacked.
“Should employees occupying emergency positions wish to depart post, please review alternative arrangements to fill the emergency position and consult with your regional bureau Executive Office as necessary,” said an internal State Department cable on the pullout, which was seen by Reuters.
The State Department on Monday updated its travel advisory for Lebanon, repeating its warning that US citizens should not travel to the country. Remaining embassy personnel are restricted from personal travel without advance permission and additional travel restrictions may be imposed “with little to no notice due to increased security issues or threats,” the advisory said.
American interests were repeatedly targeted in Lebanon in the 1980s during the 1975-90 civil war, during which the US held the Iran-backed Hezbollah responsible for attacks including the 1983 suicide bombing against the US Marines headquarters in Beirut, which killed 241 servicemen, and a 1983 suicide attack on the US embassy in Beirut that killed 49 embassy staff.
TALKS ON THURSDAY, DIVISIONS REMAIN
Meanwhile, US Secretary of State Marco Rubio, who is scheduled to travel to Israel on Saturday and meet with Prime Minister Benjamin Netanyahu, was still planning to do that, but “the schedule remains subject to change,” the US official said.
The United States wants Iran to give up its nuclear program, but Iran has adamantly refused and denied it is trying to develop an atomic weapon. Washington views enrichment inside Iran as a potential pathway to nuclear weapons.
Iranian Foreign Minister Abbas Araqchi said on Sunday that he expects to meet with Trump’s special envoy Steve Witkoff in Geneva on Thursday, adding that there was still “a good chance” of a diplomatic solution.
Both sides remain sharply divided – even over the scope and sequencing of relief from crippling US sanctions – following two rounds of talks, a senior Iranian official told Reuters.
Citing officials on both sides and diplomats across the Gulf and Europe, Reuters reported on Friday that Tehran and Washington are sliding rapidly toward military conflict as hopes fade for a diplomatic settlement.
On Sunday, Witkoff said the president was curious as to why Iran has not yet “capitulated” and agreed to curb its nuclear program.
It would be the second time the US and Israel have attacked Iran in less than a year, following US and Israeli airstrikes against military and nuclear facilities last June.
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Iranian Students Protest for Third Day as US Pressure Mounts
Protesters chant, ‘We’ll fight, we’ll die, we’ll reclaim Iran,’ at Al-Zahra University in Tehran, as they mark the 42nd day of mourning for those killed by the Iranian regime in recent anti-government protests. Photo: Screenshot taken Feb. 23, 2026, from social media video via Reuters Connect
Iranian students defied authorities with protests for a third day on Monday, weeks after security forces crushed mass unrest with thousands killed and as the United States weighs possible air strikes against the Islamic Republic.
State media outlets reported students chanting anti-government slogans at Tehran University, burning flags at the all-women al-Zahra University, and scuffles at Amir Kabir University, all located in the capital.
Reuters also verified video showing students at al-Zahra University chanting slogans including “we’ll reclaim Iran,” but was not able to confirm when it was recorded.
In a new sign of the mounting tension in the Middle East, the United States began pulling non-essential personnel and family members from the embassy in Beirut, a senior State Department official said.
US President Donald Trump has repeatedly threatened Iran since major nationwide protests across the country in January, saying on Thursday that “really bad things will happen” if talks between the countries fail to produce a deal.
Washington wants Iran to give up much of its nuclear program, which it believes is aimed at building a bomb, limit the range of its missiles to short distances, and stop supporting terrorist groups it backs in the Middle East.
It has built up forces across the Middle East, putting increased pressure on Iran as it weighs its response to US demands amid ongoing talks.
Iranian Supreme Leader Ayatollah Ali Khamenei already faces the gravest crisis of his 36-year tenure, with an economy struggling under the weight of international sanctions and growing unrest that broke out into major protests in January.
On Sunday Iranian President Masoud Pezeshkian said negotiations with the US had “yielded encouraging signals” even as a second US aircraft carrier headed towards the Middle East.
Trump has not laid out in detail his thinking on any possible Iran strike. A senior White House official told Reuters last week there was still no “unified support” within the administration to go ahead with an attack.
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US Military Begins Withdrawing From Main Base in Northeast Syria, Syrian Sources Say
An armored US military vehicle moves toward the Iraqi Kurdistan region as US troops withdraw from Qasrak military base in northeastern Syria, in Qamishli, Syria, Feb. 23, 2026. Photo: REUTERS/Orhan Qereman
US forces began pulling out of their largest base in northeastern Syria on Monday, three Syrian military and security sources said, part of a wider departure as the US-allied government in Damascus consolidates control.
Dozens of trucks, some carrying armored vehicles, departed the base at Qasrak in Hasakah province on Monday morning, witnesses said. Reuters footage later showed the trucks moving along a highway on the outskirts of the city of Qamishli.
A full withdrawal from Qasrak would still leave the US-led coalition with a base in Rmelan, also known as Kharab al-Jir, near the Iraqi border.
Qasrak has been a main hub for the US-led global coalition fighting Islamic State in Syria, where US troops deployed over a decade ago, partnering with the Kurdish-led Syrian Democratic Forces (SDF) against the jihadist group.
Asked for comment, a US defense official said: “We will not discuss future force posture or troop numbers to protect operational security.”
Neither the Syrian defense ministry nor the SDF responded to requests for comment.
DRAWDOWN EXPECTED TO TAKE WEEKS
One of the Syrian sources, a military official briefed on US plans, said the pullout was expected to take about a month, but that it remained unclear whether the withdrawal from the base was temporary or permanent.
The second Syrian source, also briefed on US plans, said it would take a number of weeks.
Since government forces under President Ahmed al-Sharaa seized control of swathes of the northeast from the SDF last month, US forces have withdrawn from a base at al-Shaddadi in Hasakah province, and a garrison at al-Tanf, located at the intersection of Syria‘s border with Iraq and Jordan.
A senior US official told Reuters on Wednesday that some US troops were leaving Syria as part of a “deliberate and conditions-based transition.”
The official said US presence at scale was no longer needed given the Syrian government’s “willingness to take primary responsibility for combating the terrorist threat within its borders.”
The Wall Street Journal reported last week that the US was withdrawing all of its roughly 1,000 troops from Syria.
Syria joined the US-led coalition to combat Islamic State last year. The terrorist group, which once controlled a third of Syria and Iraq, claimed responsibility for two attacks on Saturday that killed a soldier and a civilian.