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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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Some Tankers Cross Strait of Hormuz Before Shots Fired, Ship-Tracking Data Shows
A satellite image shows the ship movement at the Strait of Hormuz on April 17, 2026, in Space. EUROPEAN UNION/COPERNICUS SENTINEL-2/Handout via REUTERS
More than a dozen tankers, including three sanctioned vessels, passed through the Strait of Hormuz after a 50-day blockade was lifted on Friday, shipping data showed, before Iran reimposed restrictions on Saturday and fired at some vessels.
Reopening the strait is key for Gulf producers to resume full oil and gas supplies to the world, and end what the International Energy Agency has called the worst-ever supply disruption.
US President Donald Trump said on Friday Iran had agreed to open the strait, while Iranian officials said they wanted the US to fully lift its blockade of Iranian tankers.
Western shipping companies cautiously welcomed the announcements but said more clarity was needed, including on the presence of sea mines, before their vessels could transit.
IRAN RESUMES RESTRICTIONS
The ships that passed through the strait on Friday and Saturday via Iranian waters south of Larak island were mainly older, non-Western-owned vessels and included four sanctioned ships, according to ship-tracking data.
Iran arranged passage for a limited number of oil tankers and commercial ships following prior agreements in negotiations, a spokesperson for Iran’s Revolutionary Guards said.
Other ships have been seen approaching the strait and turning back as Iran said it would maintain strict controls as long as the US continues its blockade of Iranian ports.
The UK Navy reported on Saturday that Iranian gunboats fired at some ships attempting to cross the strait.
Some merchant vessels received radio messages from Iran’s navy saying the strait was shut again and that no ships were allowed to pass, shipping sources said on Saturday.
Ship-tracking data showed five vessels loaded with liquefied natural gas from Ras Laffan in Qatar approaching the strait on Saturday morning.
No LNG cargoes have transited the waterway since the US-Israeli war with Iran began on February 28.
Hundreds of ships have been stuck in the Gulf since the conflict started and Tehran closed the strait, forcing Gulf oil and gas producers to sharply cut production.
Top producers such as Saudi Arabia, the UAE, Iraq and Kuwait say they need steady tanker flows and unrestricted passage through the strait to resume normal export operations.
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Trump Greenlights Russian Oil to Ease Strain on Global Markets After War with Iran
US Treasury Secretary Scott Bessent in Washington, DC, US, March 27, 2026. Photo: REUTERS/Jonathan Ernst
i24 News – The Trump administration has authorized a 30-day emergency waiver allowing the maritime purchase of Russian oil, reversing a hardline stance in an effort to stabilize skyrocketing global energy prices.
The Treasury Department announced Friday that the license for crude and petroleum products will remain in effect until May 16, 2026, responding to intense pressure from international partners struggling with the fallout of the war with Iran.
This policy pivot comes as a surprise after Treasury Secretary Scott Bessent suggested earlier this week that no further exemptions would be granted:
“As negotiations with Iran accelerate, the administration seeks to ensure oil availability for those who need it most. We must prevent a total price collapse for consumers while the geopolitical situation remains volatile.”
Ensuring global oil availability is paramount for the US as over 80 energy facilities in the Middle East have been damaged by recent war with Iran. With the November midterm elections approaching, record-high fuel prices at the pump remain a primary vulnerability for the Republican party. By allowing Russian oil back into the maritime flow, the administration hopes to neutralize “pain at the pump” before voters head to the polls.
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UK: Islamist Group Claims to Attack Israeli Embassy with ‘Drones Carrying Radioactive, Carcinogenic Materials’
A UK man has been arrested for allegedly threatening a group of Jews while wielding an ax on Rosh Hashanah. Photo: Tony Webster / Wikimedia Commons.
i24 News – British police officers in protective clothing were seen investigating a “security incident” near the Israeli embassy in London on Friday, after a jihadist group put out a video showing it launching two drones allegedly carrying radioactive and carcinogenic materials toward the embassy.
“There is an increased police presence in Kensington Gardens and officers are assessing a number of discarded items. As a precaution, some of the officers who have been deployed are wearing protective clothing. We recognize this may concern local residents and the wider public,” police said in a statement.
“Counter Terrorism Policing London are aware of a video shared online overnight in which a group claims to have targeted the nearby embassy of Israel with drones carrying dangerous substances,” the statement further read. “While we can confirm that the embassy has not been attacked, we are carrying out urgent inquiries to determine the authenticity of the video and to identify any potential link between it and the items discarded in Kensington Gardens.”
The incident comes amid a steep hike in antisemitic attacks in Britain targeting Jewish and Israeli individuals and institutions.
The group that released the video was identified as Harakat Ashab al-Yamin al-Islamia, a shadowy entity with suspected ties to Iran. It has already claimed seven attacks against Jewish institutions, including an arson attack in London where four ambulances owned by the Hatzolah charity were torched.