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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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Pope Leo Says Those Who Wage War Are Thieves Stealing Away Our Peaceful Future
Pope Leo XIV looks on as he meets with Catholic religious education teachers attending a national meeting organised by the Italian Bishops’ Conference (CEI), in the Paul VI Hall at the Vatican, April 25, 2026. Photo: REUTERS/Yara Nardi
Pope Leo on Sunday described those who wage wars and appropriate the earth’s resources as thieves who rob the world of a peaceful future, issuing a warning about the use of nuclear power on the anniversary of the Chernobyl reactor accident.
Ukraine is commemorating the 40th anniversary of the world’s worst nuclear disaster on Sunday amid lingering fears that Russia’s four-year-old war could spark a repeat of the tragedy.
In his weekly address after the Angelus prayer, the Pontiff said the Chernobyl accident had left a mark on humankind’s collective conscience.
“It remains a warning over the use of ever more powerful technologies,” the Pope, who has just returned from a 10-day tour across four African nations, said.
“I hope that at all decision-making levels, wisdom and responsibility always prevail, so that atomic power can always be used to support life and peace,” he added.
Commenting on the Gospel of the day, which contained the metaphor of a sheep thief, Pope Leo said thieves came under many appearances, listing as examples “superficial lifestyles driven by consumerism,” prejudices and wrong ideas.
“And let’s not forget also those thieves who, by plundering the earth’s resources, by fighting bloody wars or feeding evil in whichever form, are simply taking away from all of us the chance of a future of peace and serenity,” he added.
Leo, the first US pontiff, has attracted the ire of President Donald Trump after becoming more outspoken against war and despotism.
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UK’s Starmer and Trump Discuss ‘Urgent Need’ to Restore Shipping in Strait of Hormuz
British Prime Minister Keir Starmer and US President Donald Trump (not pictured) hold a bilateral meeting at Trump Turnberry golf course in Turnberry, Scotland, Britain, July 28, 2025. Photo: REUTERS/Evelyn Hockstein
British Prime Minister Keir Starmer and US President Donald Trump discussed the urgent need to get shipping moving again in the Strait of Hormuz during a call on Sunday, a Downing Street spokesperson said.
“The leaders discussed the urgent need to get shipping moving again in the Strait of Hormuz, given the severe consequences for the global economy and cost of living for people in the UK and globally,” the spokesperson for Starmer’s office said in a statement.
“The prime minister shared the latest progress on his joint initiative with President (Emmanuel) Macron to restore freedom of navigation,” the spokesperson added.
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Palestinian Leader’s Loyalists Win Local Elections, Including Some Seats in Gaza
A Palestinian man votes during the municipal election at a polling station in Deir al-Balah, central Gaza Strip April 25, 2026. Photo: REUTERS/Mahmoud Issa
Loyalists of President Mahmoud Abbas won most races in Palestinian municipal elections, election officials said on Sunday, in a vote that for the first time in nearly two decades included a city in the Gaza Strip run by rival Hamas.
Saturday’s ballot marked the first elections of any kind in Gaza since 2006 and the first Palestinian polls since the Gaza war began more than two years ago with Hamas’ cross‑border attack on southern Israel.
Abbas’ West Bank–based Palestinian Authority (PA) said the inclusion of the Gaza city Deir al‑Balah, which suffered less damage than other areas of the coastal territory during the war, was intended to show that Gaza was an inseparable part of a future Palestinian state.
The elections, in which voter turnout was low, had been held “at a highly sensitive moment amid complex challenges and exceptional circumstances,” Palestinian Prime Minister Mohammad Mustafa said as results were announced on Sunday.
But they represented “an important first step in a broader national process aimed at strengthening democratic life … and ultimately achieving the unity of the homeland,” he said.
POSSIBLE INDICATOR OF HAMAS SUPPORT
Hamas, which ousted the PA from Gaza in 2007, did not formally nominate candidates in Gaza and boycotted the race in the Israeli-occupied West Bank, where Fatah’s victory was widely expected.
But some candidates on one of the Deir al-Balah lists were widely seen by residents and analysts as aligned with the movement, making the vote a potential indicator of support for the Islamist group.
Preliminary results showed that the list, known as Deir al‑Balah Brings Us Together, won only two of the 15 seats contested in Gaza.
The Nahdat Deir al‑Balah list, backed by Abbas’ Fatah party and the Western-backed PA, secured six seats. The remaining seats were won by two other Gaza-based groups, Future of Deir al‑Balah and Peace and Building, not affiliated with either faction.
Abbas loyalists swept the election in the West Bank, running unchallenged in many seats.
Fatah spokesperson Abdul Fattah Dawla noted that turnout was close to that for the last municipal elections in the West Bank, in 2022, praising voters for participating despite ongoing violence by Israel.
“By electing figures linked to Fatah, voters appear to be seeking unrestricted international support for municipal governance and a gradual political shift that could extend beyond the local level,” said Palestinian political analyst Reham Ouda.
The recent war has left much of Gaza reduced to rubble, with many residents displaced and focused on survival. Israel has continued conducting strikes despite an October ceasefire.
In Gaza, voter turnout reached just 23 percent, while in the West Bank it was 56 percent, according to Chairman of the Central Elections Commission Rami al‑Hamdallah.
Al‑Hamdallah said some of the ballot boxes and voting equipment did not make it into the enclave because of Israeli security restrictions, though those challenges were overcome.
Hamas’ Gaza spokesperson, Hazem Qassem, downplayed the significance of the election results, saying that they had no impact on wider national issues.