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Home»Business
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Week Twenty Eight of the Israel-Hamas Conflict.

April 16, 2024No Comments3 Mins Read
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Iran’s recent attack on Israel has sparked a wave of condemnation around the world, with Western countries showing strong support for Israel. The Iranian attack, which involved 170 drones, 30 cruise missiles, and 120 ballistic missiles, was mostly intercepted by defense systems, with only a few hits causing slight damage. President Joe Biden declared support for Israel, acknowledging the skill of service members in thwarting the attack. Despite the interception of most missiles, a seven-year-old girl was seriously injured by missile fragments in southern Israel.

In a related incident, a naval commando unit of Iran’s Revolutionary Guards seized an Israeli-linked ship near the coast of the United Arab Emirates. The ship, operated by an international company owned partially by an Israeli billionaire, was carrying crew members of Philippine citizenship. Israeli Foreign Minister Israel Katz condemned the action, calling for immediate sanctions on Iran. The attack on the ship further escalated tensions in the region following Iran’s missile assault on Israel.

World leaders, including President Biden, British Prime Minister Rishi Sunak, French President Emmanuel Macron, and German Chancellor Olaf Scholz, have voiced support for Israel and condemnation of Iran. The leaders expressed solidarity with Israel and commitment to regional stability. Amid escalating tensions, Hamas rejected a proposal for a ceasefire and the release of hostages, leading to a deadlock in negotiations. Israeli sources believe Hamas hopes for an all-out war with Iran’s support, as the IDF continues targeted activity throughout the Strip.

The IDF carried out an operation that resulted in the killing of three senior Hamas officials, who were sons of Ismail Haniyeh, the head of Hamas’ political bureau. The officials had military roles within the organization, with one allegedly involved in holding hostages. The operation took place during mediation efforts for a hostage deal, without the knowledge of Prime Minister Netanyahu and Defense Minister Gallant. Additionally, following a UN report confirming atrocities committed by Palestinian terrorists, the European Union decided to impose economic sanctions against Hamas and Palestinian Islamic Jihad terrorist organizations for their involvement in sex crimes and severe sexual violence.

In the technology sector, Israeli AI data security company Cyera raised $300 million in funding, bringing its total funding since early 2021 to $460 million at a valuation of $1.4 billion. The funding round, led by investment fund Coatue and other investors, reflects a significant recovery trend in the local high-tech sector, particularly in cyber. Data shows a 10% increase in funding for Israeli companies in the first quarter of 2024, with the cyber sector leading the recovery trend in funding. Overall, the Israeli high-tech sector is experiencing growth and attracting significant investment.

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