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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.


The post 2 Israeli tech firms to pull funds out of the country, citing risk posed by Netanyahu government appeared first on Jewish Telegraphic Agency.

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Israeli man indicted in attack on Catholic nun in Jerusalem’s Old City

(JTA) — An Israeli man was indicted on Thursday in connection to the violent assault of a Catholic nun in Jerusalem last month, after prosecutors said he targeted her over her Christian identity.

Yona Schreiber, 36, from the West Bank settlement of Peduel, was arrested last week and has since been indicted on charges of “assault causing actual injury motivated by hostility ​toward the public on the grounds of religion, as well as simple ​assault,” the state attorney’s office said in a statement.

According to the indictment, Schreiber, who is Jewish, attacked the nun just outside of the Old City in Jerusalem because he identified her as a Catholic nun. Schreiber allegedly pushed and then kicked the nun as she was lying on the ground and also attacked a passerby who attempted to intervene.

The nun, a researcher at the French School of Biblical and Archeological Research, suffered bruises on her face and leg due to the attack, the state attorney’s office said.

The attack, which drew condemnation from Catholic leaders as well as faculty at the Hebrew University of Jerusalem, comes amid mounting concern over hostility toward Christian clergy and holy sites in Israel.

Cases of Jews harassing Christians have risen sharply in recent years. Last month, the IDF punished a soldier who was filmed bludgeoning a statue of Jesus in southern Lebanon. This week, the IDF also announced that it would discipline a different soldier who was seen placing a cigarette into the mouth of a statue of the Virgin Mary in a photo posted on social media.

Israel’s attorney general asked the Jerusalem Magistrate’s Court, where the indictment was filed, to hold Schreiber ​in detention for the duration of the legal proceeding.

The assault carries a maximum prison sentence of three years, which could increase to six years if prosecutors prove the attack was motivated by religious bias.

The post Israeli man indicted in attack on Catholic nun in Jerusalem’s Old City appeared first on The Forward.

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Jewish real estate magnate Steven Roth likens Mamdani’s ‘tax the rich’ rhetoric to ‘from the river to the sea’

(New York Jewish Week) — Jewish real estate mogul Steven Roth compared New York City Mayor Zohran Mamdani’s “tax the rich” rhetoric this week to racial slurs and pro-Palestinian rhetoric on an earnings call for his company, Vornado Realty Trust.

“I consider the phrase ‘tax the rich’ when spit out with anger and contempt by politicians both here and across the country, to be just as hateful as some disgusting racial slurs and even the phrase, ‘from the river to the sea,’” Roth said, referring to the phrase commonly used at pro-Palestinian protests that many Jewish groups consider antisemitic.

The remark by Roth, who has long been a notable philanthropist to Jewish causes, adds to mounting tensions between New York business leaders and Mamdani over his recently announced “pied-à-terre” tax on second homes valued at more than $5 million.

During the call Tuesday, Roth also expressed support for Ken Griffin, the CEO of Citadel, whose $238 million dollar penthouse was featured in a video by Mamdani announcing plans for the tax last month.

“We are all shocked that our young mayor would pull this stunt in front of Ken’s home and single him out for ridicule,” Roth said. “The ugly, unnecessary video stunt is personal for Ken and sort of personal for me.”

Roth’s comments touched on a longstanding source of friction between Mamdani and some New York Jewish leaders, who have criticized the mayor over his views on Israel and his previous defense of the phrase “globalize the intifada,” another common pro-Palestinian slogan viewed by some as a call to violence against Jews.

In the wake of Mamdani’s election, some Jewish business leaders, including Dave Portnoy, the Jewish founder of Barstool Sports, said that they planned to leave the city altogether, citing the mayor’s fiscal policies and concerns about antisemitism under his leadership.

In a statement responding to Roth’s comments, Mamdani’s office said that he wanted all New Yorkers to succeed, including “business owners and entrepreneurs who create good-paying jobs and make this city the economic engine of America.”

“That does not negate the fact, however, that our tax system is fundamentally broken. It rewards extreme wealth while working people are pushed to the brink,” the statement continued. “The status quo is unsustainable and unjust. If we want this city to become a place that working people can afford, we need meaningful tax reform that includes the wealthiest New Yorkers contributing their fair share.”

The post Jewish real estate magnate Steven Roth likens Mamdani’s ‘tax the rich’ rhetoric to ‘from the river to the sea’ appeared first on The Forward.

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Man who firebombed Boulder Israeli hostage march sentenced to life in prison

(JTA) — The man charged with carrying out a deadly firebombing attack on a march for Israeli hostages in Boulder, Colorado, last year was sentenced to life in prison without the possibility of parole on Thursday after pleading guilty to muder and dozens of other charges.

Mohamed Sabry Soliman, an Egyptian national who was arrested at the scene of the attack on the demonstrators last June, pleaded guilty to 101 charges, including 52 counts of attempted murder and one count of murder for the death of Karen Diamond, an 82-year-old victim of the attack who later died of her wounds.

During the June attack, Soliman shouted “free Palestine” and threw two molotov cocktails at the group, Run for Their Lives, injuring over a dozen people. According to an earlier court filing, Soliman said that he had staged the attack, which prosecutors said he planned for a year, because he “wanted to kill all Zionist people and wished they were all dead.”

Soliman has separately pleaded not guilty to federal hate crime charges, for which prosecutors could potentially seek the death penalty.

“If I went back, I would not have done this as this is not according to the teaching of Islam,” Soliman said during the sentencing hearing, adding that he wanted federal prosecutors to seek the death penalty. “What I did came out of myself and only myself.”

During his remarks, Soliman argued that he had not been driven by anti-Jewish animus. He later said that Zionism was “the enemy” and that it was his “right” to be against Israel.

Chief District Judge Nancy W. Salomone rejected Mr. Soliman’s arguments, telling him that his “choices were acts of terror, and they victimized an entire community,” according to the New York Times.

“You chose to victimize these people because they were members of the Jewish community,” she said.

In a statement read earlier in court by a prosecutor, Diamond’s sons, Andrew and Ethan Diamond, asked that Soliman not be allowed to see his family again “since he is responsible for our mother never seeing her family again,” according to the Associated Press.

They said that Diamond had suffered “indescribable pain” for over three weeks before her death, adding that “in those weeks, we learned the full meaning of the expressions ‘living hell’ and ‘fate worse than death.’”

The post Man who firebombed Boulder Israeli hostage march sentenced to life in prison appeared first on The Forward.

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