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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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Mistrial Declared in Case of Students Charged After Stanford Anti-Israel Protests
FILE PHOTO: A student attends an event at a protest encampment in support of Palestinians at Stanford University during the ongoing conflict between Israel and the Palestinian Islamist group Hamas, in Stanford, California U.S., April 26, 2024. Photo: REUTERS/Carlos Barria/File Photo
A judge declared a mistrial on Friday in a case of five current and former Stanford University students related to the 2024 pro-Palestinian protests when demonstrators barricaded themselves inside the school president’s office.
Twelve protesters were initially charged last year with felony vandalism, according to prosecutors who said at least one suspect entered the building by breaking a window. Police arrested 13 people on June 5, 2024, in relation to the incident and the university said the building underwent “extensive” damage.
The case was tried in Santa Clara County Superior Court against five defendants charged with felony vandalism and felony conspiracy to trespass. The rest previously accepted plea deals or diversion programs.
The jury was deadlocked. It voted nine to three to convict on the felony charge of vandalism and eight to four to convict on the felony charge to trespass. Jurors failed to reach a verdict after deliberations.
The charges were among the most serious against participants in the 2024 pro-Palestinian protest movement on US colleges in which demonstrators demanded an end to Israel’s war in Gaza and Washington’s support for its ally along with a divestment of funds by their universities from companies supporting Israel.
Prosecutors in the case said the defendants engaged in unlawful property destruction.
“This case is about a group of people who destroyed someone else’s property and caused hundreds of thousands of dollars in damage. That is against the law,” Santa Clara County District Attorney Jeff Rosen said in a statement, adding he sought a new trial.
Anthony Brass, a lawyer for one of the protesters, told the New York Times his side was not defending lawlessness but “the concept of transparency and ethical investment.”
“This is a win for these young people of conscience and a win for free speech,” Brass said, adding “humanitarian activism has no place in a criminal courtroom.”
Protesters had renamed the building “Dr. Adnan’s Office” after Adnan Al-Bursh, a Palestinian doctor who died in an Israeli prison after months of detention.
Over 3,000 were arrested during the 2024 US pro-Palestinian protest movement, according to media tallies. Some students faced suspension, expulsion and degree revocation.
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Exclusive: FM Gideon Sa’ar to Represent Israel at 1st Board of Peace Meeting in Washington on Thursday
Israeli Foreign Minister Gideon Sa’ar speaks next to High Representative for Foreign Affairs and Security Policy and Vice-President of the European Commission Kaja Kallas, and EU commissioner for the Mediterranean Dubravka Suica as they hold a press conference on the day of an EU-Israel Association Council with European Union foreign ministers in Brussels, Belgium, Feb. 24, 2025. Photo: REUTERS/Yves Herman
i24 News – Israel’s Foreign Minister Gideon Sa’ar will represent the country at the inaugural meeting of the Gaza Board of Peace in Washington on Thursday, i24NEWS learned on Saturday.
The arrangement was agreed upon following a request from Israel’s Prime Minister Benjamin Netanyahu, who will not be able to attend.
Netanyahu pushed his Washington visit forward by a week, meeting with US President Donald Trump this week to discuss the Iran situation.
A U.N. Security Council resolution, adopted in mid-November, authorized the Board of Peace and countries working with it to establish an international stabilization force in Gaza and build on the ceasefire agreed in October under a Trump plan.
Under Trump’s Gaza plan, the board was meant to supervise Gaza’s temporary governance. Trump thereafter said the board, with him as chair, would be expanded to tackle global conflicts.
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Two Men Jailed in UK for Islamic State-Inspired Plot to Kill Hundreds of Jews
Weapons seized from the home of Walid Saadaoui, 38, who along with Amar Hussein, 52, has been found guilty at Preston Crown Court of plotting to kill hundreds in an Islamic State-inspired gun rampage against the Jewish community, in Britain, in this handout picture obtained by Reuters on December 23, 2025. They are due to be sentenced on Friday. Photo: Greater Manchester Police/Handout via REUTERS
Two men were jailed on Friday for plotting to kill hundreds in an Islamic State-inspired attack on the Jewish community in England, a plan prosecutors said could have been deadlier than December’s mass shooting at Sydney’s Bondi Beach.
Walid Saadaoui, 38, and Amar Hussein, 52, were both convicted after a trial at Preston Crown Court, which began a week after an unrelated deadly attack on a synagogue in the city of Manchester, in northwest England.
Prosecutors said the pair were Islamist extremists who wanted to use automatic firearms to kill as many Jews as they could in an attack in Manchester.
They were found guilty little more than a week after a mass shooting at a Jewish Hanukkah celebration on Bondi Beach in which 15 people were killed.
Prosecutor Harpreet Sandhu said on Friday that, had Saadaoui and Hussein carried out their plan, it “could have been very much more serious” than the attacks in Australia and Manchester.
Judge Mark Wall sentenced Saadaoui to a minimum term of 37 years and Hussein to a minimum term of 26 years, saying: “You were very close to being ready to carry out this plan.”
Hussein refused to attend his sentencing, having refused to attend most of his trial, which Wall said reflected Hussein’s cowardice, describing him as “brave enough to plan to threaten an unarmed group with an AK-47 but not sufficiently courageous to face up to what he did.”
POTENTIALLY ONE OF DEADLIEST ATTACKS ON UK SOIL
Saadaoui had arranged for two assault rifles, an automatic pistol and almost 200 rounds of ammunition to be smuggled into Britain through the port of Dover when he was arrested in May 2024, Sandhu told jurors at the trial.
He added that Saadaoui planned to obtain two more rifles and another pistol, and to collect at least 900 rounds of ammunition.
“This would likely have been one of the deadliest terrorist attacks ever carried out on British soil,” Wall said.
Unbeknown to Saadaoui, however, a man known as “Farouk,” from whom he was trying to get the weapons, was an undercover operative who helped foil the plot.
Walid Saadaoui’s brother Bilel Saadaoui, 37, was found guilty of failing to disclose information about acts of terrorism. He was sentenced to six years in jail.