How global firms are reacting to the Israel-Hamas conflict

Global companies with a presence in Israel have suspended operations or asked employees to work from home as the country wages war on Hamas in the Gaza Strip.

Below are some of the steps being taken by firms in industries ranging from travel to finance.

Travel
Several Asian, European and US airlines have suspended direct flights to Tel Aviv.

US carrier Delta Air Lines has cancelled flights to Tel Aviv through October 31 as it assesses events in the region.

Israel’s flagship carrier El Al is operating extra flights to ferry Israeli reservists home as part of the largest mobilisation in the country’s history.

Cruise operators Royal Caribbean, Carnival and Norwegian Cruise Line have adjusted itineraries and modified or redirected trips to Israel.

Energy
Chevron, the second-largest oil and gas producer in the US, has been ordered by Israel’s Ministry of Energy to shut down the Tamar natural gas field off the country’s northern coast.

Banking
Goldman Sachs has asked employees at its office in Tel Aviv to work from home.

JPMorgan Chase has asked more than 200 employees in Israel to work from home, according to a source cited by the Reuters news agency.

Bank of America has closed its Tel Aviv office, while it will continue to closely monitor the local situation in the upcoming days, according to an internal memo seen by Reuters.

Morgan Stanley has told its staff at its Israel office to work from home for the foreseeable future, according to Bloomberg News.

Citigroup, which claims to have the largest presence among foreign financial institutions in Israel, has offered flexibility for staff in the country to work from home or office, a source told Reuters.

Logistics
Adani Ports, run by Indian billionaire Gautam Adani, has said Haifa Port in northern Israel is still operating but it is closely monitoring the situation and has prepared a business continuity plan.

Global delivery firm FedEx has suspended its services in Israel, while UPS has temporarily suspended flights in and out of the country.

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, the world’s largest maker of chips used for artificial intelligence and computer graphics, has cancelled an AI summit in Tel Aviv that was to feature CEO Jensen Huang.

Consumer and retail

Clothing giant H&M has temporarily closed all stores in Israel.
Inditex, the owner of clothing retailer Zara, has temporarily closed its 84 stores in Israel and extended timeframes for returns.

Pharma
Pharmaceutical company Eli Lilly and Co has said it is closely monitoring the situation and will take all necessary steps to ensure the safety of staff while working to ensure an uninterrupted supply of medicines to patients in the region.

SOURCE: AL JAZEERA AND NEWS AGENCIES