The FT and City AM report on the Israeli pharmaceutical company Teva’s poor showing on the markets yesterday. The company’s dividends were cut by 75 per cent yesterday with shares dropping 18 per cent.

The FT also reports on the continuing crisis in the Gulf. The paper details how both the pro-Saudi and pro-Qatari blocs are using state-sponsored media outlets such as Al Arabiya and Al Jazeera to conduct a propaganda war. The paper suggests this new tactic is the result of the deadlock that has taken place between the two sides since the imposition of a blockade on Qatar by the Saudi-led coalition on June 5.

The Israeli media is dominated by news that suspicion of bribery, fraud and breach of trust is the focus of the police investigations into Prime Minister Benjamin Netanyahu in the “Case 1000” and “Case 2000” affairs, which the police have been pursuing for several months. The confirmation, which comes via court documents requesting a gag order in relation to the recruitment of a state’s witness in the case, dominates the front pages of Yediot Ahronot, Maariv and Haaretz.

Haaretz political commentator Yossi Verter writes that: “If signed, the agreement being worked out with [former Chief of Staff Ari] Harow will be an earthquake in the investigation.” However, Yechiel Gutman in Maariv argues that the significance of the documents themselves is being deliberately hyped by the police to “create an impressive effect on the court so that it will grant a gag order as requested.”

Also featured in all the Hebrew language front pages is the appeal by Hebron shooter Elor Azaria to IDF Chief of Staff Gadi Eisenkot, for clemency in his case. The appeal was made public in a video posted by Azaria on Facebook. Yediot Ahronot’s headline describes the video as “The Elor Show”.

Israel Hayom leads its front page with the crisis facing Israeli pharmaceutical giant Teva, whose shares plummeted yesterday after announcing poor financial results.

Maariv also features on its front page an image of the large Gay Pride rally held in Jerusalem yesterday under the headline ‘Remembering with Pride’, a reference to the memory of Shira Banki, a participant murdered at the event two years ago.

The Times of Israel reports that the Taylor Force Act was approved by the US Senate Foreign Relations Committee. The law would cut US funding to the Palestinian Authority if it continues to pay salaries to terrorists and their families.