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Factbox-What are global firms with presence in Israel doing after Hamas attack


A rocket launched from the Gaza Strip strikes an area near Sderot, southern Israel October 9, 2023. REUTERS/Amir Cohen

 

(Reuters) – Several global companies have temporarily shut some operations in Israel and asked their employees to work from home after the country came under a surprise attack by Palestinian Islamist group Hamas over the weekend, prompting a swift response.

Following are the steps taken by the companies ranging from airlines to banks:

TRAVEL

Several Asian, European and U.S. airlines have suspended direct flights to Tel Aviv.

Delta Air Lines (NYSE:DAL):

The airline has decided to cancel Delta-operated Tel Aviv flights through Oct. 31 as it monitors events in the region.

Norwegian Air

The carrier said it cancelled a planned evacuation flight from Tel Aviv to Oslo on Thursday due to a lack of insurance cover.

KLM

The Dutch carrier said it had retracted an offer to the Dutch government for a flight to Israel to take Dutch citizens out of the country, citing safety concerns.

El Al:

The airline said it would run more flights to take reservists back to Israel to help in the largest mobilization in the country’s history.

Royal Caribbean (NYSE:RCL):

The cruise operator said it was adjusting several itineraries in the area and that impacted guests were being notified directly.

Carnival (NYSE:CCL):

The cruise liner said it has adjusted its cruise itineraries and is not making calls to ports in Israel at this time.

Norwegian Cruise Line (NYSE:NCLH) Holdings:

The company said it has modified or redirected sailings that visit Israel in October and will evaluate the situation.

InterContinental Hotels Group:

IHG Hotels & Resorts said it was monitoring the situation in Israel closely and had increased security measures in and around their hotels.

Six Senses Shaharut and Hotel Indigo Tel Aviv – Diamond District have temporarily closed, but their other hotels in Israel remain open and operational, a spokesperson for the company said.

OIL MAJORS

Chevron (NYSE:CVX):

The No. 2 U.S. oil and gas producer has been instructed by Israel’s energy ministry to shut down the Tamar natural gas field off the country’s northern coast, a company spokesperson said on Monday.

BANKS AND PAYMENTS FIRMS:

JPMorgan Chase (NYSE:JPM):

The outbreak of conflict in the Middle East will have “ripple effects that extend far beyond the region,” JPMorgan CEO Jamie Dimon warned in an internal memo to employees seen by Reuters.

The Wall Street bank has asked more than 200 employees in Israel to work from home, a source familiar with the matter told Reuters.

Goldman Sachs:

The bank’s employees at its office in Tel Aviv have been asked to work from home, a spokesperson said.

Morgan Stanley:

Bloomberg News reported that the bank has an office in Israel and has also told its staff to work from home for the foreseeable future.

Citigroup (NYSE:C)

Citigroup, whose local website said it has the largest presence among foreign financial institutions in Israel, had offered flexibility for staff in the country to work from home or office, a source told Reuters.

Bank of America

The bank’s Tel Aviv office will remain closed for the time being, the bank told staff in an internal memo seen by Reuters.

UBS

UBS has told its employees to stop business travel within the Middle East, in light of a deepening conflict between Israel and Hamas, a person familiar with the matter told Reuters.

American Express (NYSE:AXP)

The credit card company said it has committed $1.5 million in donations to help the relief efforts in Israel, adding that it is “in close communication” with employees since the attacks began to ensure their safety and provide support.

LOGISTICS

Adani Ports:

Indian billionaire Gautam Adani’s Adani Ports, operator of the Haifa Port in northern Israel, said the port was operational but added it was closely monitoring the situation and is prepared with a business continuity plan.

FedEx (NYSE:FDX):

The global delivery firm said it had reinstated its service in Israel and was monitoring the situation.

UPS:

The world’s largest parcel delivery firm said it was closely monitoring the situation and had temporarily suspended flights in and out of Israel.

While service disruptions may occur, UPS said it has contingency plans to move shipments that are already in Israel to their destinations as quickly as it is safe to do so.

TECH

Nvidia (NASDAQ:NVDA):

The world’s largest maker of chips used for artificial intelligence and computer graphics said it had canceled an AI summit scheduled for Tel Aviv next week. CEO Jensen Huang was scheduled to speak at the conference.

Amazon (NASDAQ:AMZN):

The online retail giant has a contingency plan to keep AWS services available for customers in Israel, a company spokesperson said.

CONSUMER AND RETAIL

H&M (ST:HMb):

The clothing company said its local franchise partner has temporarily closed all stores in Israel.

Inditex (BME:ITX) SA:

“Our stores will remain temporarily closed and return timeframes will be extended by 30 days from their reopening,” a message on Zara’s website in Israel showed.

The world’s biggest fashion retailer has 84 stores in Israel, all operated under franchise.

Decathlon:

A banner on the world’s biggest sporting goods retailer’s Israel website read “Due to the security situation, there may be delays to deliveries. Let’s hope for quieter days”.

Puma:

Puma, which sponsors the Israel Football Association, said its local distribution partner has suspended the operations of Puma stores that are based in Tel Aviv. Online orders are still being delivered to some cities in Israel.

PHARMA

Eli Lilly (NYSE:LLY) and Co:

The pharmaceutical company said it was closely monitoring the evolving situation in Israel and will take all necessary steps to ensure safety of colleagues in and near the affected areas.

It is also working to ensure all critical operations remain in place to provide an uninterrupted supply of Lilly medicines to patients in the region.

Bristol-Myers Squibb (NYSE:BMY):

The biopharmaceutical company said it was monitoring the situation in Israel and maintaining a supply of medicines for patients in the region.

Teva Pharmaceutical Industries (NYSE:TEVA):

The world’s largest maker of generic drugs said production remains largely unaffected and that it maintains contingency plans with backup production locations for key products.

Teva said it currently does not expect a meaningful impact on its business or financial and operational performance. The company’s sales in Israel account for just 2% of its global revenue, while production in the country constitutes less than 8% of total global manufacturing in dollars terms.

Source

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