HomeBusinessIsraeli Start-ups Join the Battle Against Hamas

Related Posts

Israeli Start-ups Join the Battle Against Hamas

Israel’s start-ups are bracing for the escalating war with Gaza, as many of their employees are being mobilized. The conflict has led to the death of approximately 1,500 Palestinian fighters in retaliation for Hamas’ deadly attacks over the weekend. In response, the Israeli government is calling up 360,000 reservists for a larger military campaign. While companies worldwide are expressing support for Israel and taking care of their employees in the country, start-ups in Israel are being hit the hardest, with some seeing up to half of their staff being mobilized. This could disrupt the tech sector, which makes up a significant portion of the Israeli economy. Meanwhile, other businesses are providing aid, with the US venture capital firm General Catalyst pledging $250,000 to humanitarian efforts in Israel. The fighting also continues to impact business and markets, with companies telling employees in Israel to stay home and Chevron temporarily shutting down operations at a major natural gas platform. However, yields on US Treasury bonds fell as investors sought safer assets, and aerospace and defense stocks rose after the US pledged to supply Israel with more arms.

Latest Posts