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Norway Wealth Fund Excludes Six Israeli Companies Linked to West Bank, Gaza

A view shows the building of Norway’s central bank (Norges Bank) in Oslo, Norway, June 23, 2022. Photo: REUTERS/Victoria Klesty

Norway‘s sovereign wealth fund, the world’s largest, will exclude another six Israeli companies with connections to the West Bank and Gaza from its portfolio following an ethics review, it said on Monday.

The $2 trillion wealth fund did not name the companies it had decided to exclude but said they would be made public, along with specific reasons, once the divestments were completed.

One possibility is they include Israel’s five largest banks, which have been under review by the fund‘s ethical watchdog.

Separately, the fund said it had also sold stakes in six other companies following a decision last week to only hold stakes in Israeli companies that are part of the fund‘s benchmark index.

As of Aug. 14, the fund had 19 billion crowns ($1.86 billion) invested in 38 companies listed in Israel, the fund‘s operator Norges Bank Investment Management said, a reduction of 23 companies since June 30.

“More companies could be excluded,” Norwegian Finance Minister Jens Stoltenberg told reporters.

ETHICS REVIEW

The fund launched an urgent review earlier this month after reports that it had built a stake in an Israeli jet engine group that provides services to Israel’s armed forces, including the maintenance of fighter jets.

The reports spurred a fresh debate about the fund‘s investments in Israel and the Palestinian territories ahead of elections on Sept. 8, with some parties calling for the fund to divest from all Israeli companies, a step the government has ruled out.

Norway‘s parliament in June rejected a proposal for the fund to divest from all companies with activities in the Palestinian territories.

“This debate helps sharpen our practices,” said Stoltenberg.

Critics say only a complete withdrawal from investing in Israeli companies would protect the fund against possible ethical breaches.

Stoltenberg said that, from now on, the ethics watchdog and NBIM would have more frequent and faster exchanges of information to more rapidly identify problematic companies.

Ethical exclusions from the fund are based on recommendations from the fund‘s watchdog, though NBIM can also divest from companies if it assesses that a company poses too much of a risk to the fund, whether the risk is ethical or not.

“With more exchanges of information between the Council on Ethics and Norges Bank, it is possible that there could be more divestments of that kind in future,” said Stoltenberg.

Last Monday, the fund announced it was terminating contracts with all three external asset managers who handled some of its Israeli investments.

($1 = 10.1890 Norwegian crowns)

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Pakistani Textbooks Promote Antisemitism, Distort History, Justify Violence, New Study Finds

Sinain Bibi reads at a makeshift school in a village in Swat district in Pakistan’s northwest Khyber Pakhtunkhwa province, Oct. 24, 2022. Photo: Thomson Reuters Foundation/Imran Mukhtar

Pakistani textbooks depict Jews and Israel through deep-rooted antisemitic stereotypes, promoting intolerance, distorting historical facts, and reinforcing prejudice among young readers, according to a new study released on Monday.

The Institute for Monitoring Peace and Cultural Tolerance in School Education (IMPACT-se), a nonprofit organization that analyzes schoolbooks and curricula around the world, examined over 80 government-approved Pakistani textbooks in subjects ranging from Islamic education and history to social sciences, English, and Urdu as part of a national curriculum assessment.

The group’s newly released study reveals persistent antisemitism in Pakistani textbooks, with hostile portrayals of Jews in Islamic education and a complete absence of Judaism in comparative religion sections.

In several textbooks, Jews are repeatedly portrayed using long-standing antisemitic stereotypes, consistently depicted as “inherently treacherous and disloyal,” the study found.

For example, a 6th-grade textbook portrays Jewish tribes in Medina as conspiring against the Prophet Mohammed, the founder of Islam, on multiple occasions.

Meanwhile, a 5th-grade textbook repeats the antisemitic stereotype that Jews “caused Prophet Isa [Jesus] and his mother to suffer,” claiming they plotted against him to protect their authority.

According to the study, this portrayal reflects medieval antisemitic tropes that blame Jews for the crucifixion of Jesus.

“These narratives frame Judaism as inherently treacherous and promote intolerance,” the report explained.

IMPACT-se also pointed out that the Holocaust is completely omitted from school curricula in Pakistan, with some textbooks even praising Adolf Hitler for restoring German pride while ignoring the atrocities committed by the Nazis.

“Given Pakistan’s prominent regional role, its nuclear status, and large percentage of young people, this curriculum has far-reaching consequences,” IMPACT-se CEO Marcus Sheff said in a statement.

“What is taught in classrooms today will define Pakistan’s future global outlook, including its relationship with Israel and the Jewish people,” he continued.

In more recent history, the study found that Pakistani textbooks portray Israel as an aggressor solely responsible for the war in Gaza, while encouraging support for Muslim nations that seek to destroy the Jewish state.

For example, a 12th-grade textbook blames Israel for the humanitarian crisis in Gaza, while making no mention of Hamas’s role in sparking the current war with its invasion of and massacre across southern Israel on Oct. 7, 2023.

The textbook “frames Israel as the sole aggressor and the source of the humanitarian catastrophe with no mention of the broader conflict,” the study explained.

“Israel is portrayed as an adversary and is shockingly handed exclusive blame for the current war in Gaza,” it continued.

IMPACT-se also pointed out that several Islamic education textbooks portray jihad as a physical or armed struggle, reinforcing the idea that violent resistance is justified in the face of perceived injustice.

For instance, a 9th-grade Islamic education textbook depicts jihad as a moral duty to protect the oppressed, portraying armed action as a religious obligation with a “broader and noble purpose.”

According to IMPACT-se, this portrayal is used to justify unlimited violence under the guise of moral duty.

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US Justice Department Secures Conviction of Ohio Man Who Mauled Jewish Students

Timur Mamatov, 20. Photo: Screenshot.

US federal law enforcement officials on Friday secured a guilty plea from a man who assaulted two Jewish students at The Ohio State University (OSU) in November 2023, amid an explosion of antisemitism precipitated by the Hamas-led Oct. 7 massacre across southern Israel.

As previously reported by the Algemeiner, five Jewish students returning home from an off-campus event were brutally assaulted by two men who had detained and interrogated them to determine if they were Jewish, according to a civil rights complaint filed against OSU. Finding their answer, the two men allegedly shouted “Free Palestine!” and slugged one Jewish student each, breaking one’s jaw and the other’s nose and leaving one of them bleeding effusively. The complaint noted that the OSU Medical Center later denied one of the injured students more than one visitor and prohibited the other a seat in the waiting room, forcing them to stand “outside in the freezing cold for over five hours.”

One of the perpetrators was identified as Tipp City resident Timur Mamatov, now 20 years of age, with the help of the FBI Cincinnati Field Office, the US Department of Justice said in a press release on Friday. He was charged with and later admitted to violating the Hate Crimes Prevention Act and could spend as much as a decade in prison, pending sentencing.

“Mamatov admitted in court today that he assaulted victims because they were Jewish,” US attorney for the Ohio southern district Dominick S. Gerace II said in a statement. “No American should fear being violently attacked based on their religious beliefs. This office, along with our law enforcement partners, will aggressively pursue violence motivated by hate.”

Jose A. Perez, FBI criminal investigative division assistant director, added, “These college students were targeted by Mr. Mamatov simply because they were Jewish. Hate crimes not only impact the victims but have devastating impact on our entire community.”

Meanwhile, Assistant Attorney General of the Justice Department’s Civil Rights Division Harmeet K. Dhillon said, “Violence against people of faith is illegal and unacceptable.”

Just days before Mamatov’s guilty plea, the Justice Department announced the sentencing of a man who fired a pump-action shotgun outside the Temple Israel synagogue in Albany, New York to express his anti-Israel views and intimidate Jewish community members.

The perpetrator, 29-year-old Mufid Fawaz Alkhader, committed the offense on Dec. 7, 2023, exactly two months after Oct. 7, amid preparations for the observance of Hanukkah. According to the Justice Department, he commuted there via Uber from his residence in Schenectady, a city of the Capital Region that once possessed a thriving manufacturing sector and large middle class. Positioning himself in the front entrance, Alkhader discharged his firearm, purchased illegally, twice “into the air” as he bellowed “Free Palestine.”

His gun jammed on the third attempt, after which he turned his frustration on an Israeli flag pitched in front of the institution, the Justice Department said in a press release announcing the sentencing last week. Local law enforcement later apprehended Alkhader, but the security incident he precipitated frightened the congregation, causing it to “cancel a planned concert and candle lighting ceremony to celebrate Hanukkah that evening.”

Alkhader ultimately faced several criminal charges — for purchasing an illegal firearm, violating the religious rights of Temple Israel’s worshippers, and wielding a weapon while committing a violent crime. He will serve ten years in lockup and five years of supervised release.

“This shooting, outside of a synagogue on the eve of a Hanukkah celebration, was unfortunately emblematic of the antisemitic violence, rhetoric, and practices that have swept this country over the last few years,” acting US attorney John Sarcone for the Northern District of New York said in a statement. “This year, the Justice Department has emphatically said — through its words and actions — no more. My office, with our law enforcement partners, will do everything within our powers to make sure everyone in the Northern District of New York can exercise their right to practice their religion without fear and violence and hatred.”

Alkhader’s assault on Temple Israel occurred during an unrelenting wave of over 10,000 antisemitic incidents that hit the American Jewish community in the first year after Oct. 7. According to a 2024 report published by the Anti-Defamation League (ADL) Center on Extremism on the first anniversary of Hamas’s massacre across southern Israel, antisemitic incidents in the US increased 200 percent. Thirty percent of the incidents recorded took place on college campuses and another 12 percent happened during anti-Israel protests. Another 20 percent targeted Jewish institutions, including nonprofit organizations and houses of worship. Of these, 50 percent were bomb threats.

The hatred has carried into 2025.

In June, a gunman murdered two Israeli embassy staffers in Washington, DC, while they exited an event at the Capital Jewish Museum hosted by a major Jewish organization. The suspect charged for the double murder, 31-year-old Elias Rodriguez from Chicago, yelled “Free Palestine” while being arrested by police after the shooting, according to video of the incident. The FBI affidavit supporting the criminal charges against Rodriguez stated that he told law enforcement he “did it for Gaza.”

Less than two weeks later, a man firebombed a crowd of people who were participating in a demonstration to raise awareness of the Israeli hostages who remain imprisoned by Hamas in Gaza. A victim of the attack, Karen Diamond, 82, later died, having sustained severe, fatal injuries.

Another antisemitic incident motivated by anti-Zionism occurred in San Francisco, where an assailant identified by law enforcement as Juan Diaz-Rivas and others allegedly beat up a Jewish victim in the middle of the night. Diaz-Rivas and his friends approached the victim while shouting “F—k the Jews, Free Palestine,” according to local prosecutors.

According to the latest data released by the FBI earlier this month, antisemitic hate crimes in the US have been tallying to break all previous statistical records. In 2024, even as hate crimes decreased overall, those perpetrated against Jews increased by 5.8 percent in 2024 to 1,938, the largest total recorded in over 30 years of the FBI’s counting them. Jewish American groups have noted that this surge, which included 178 assaults, is being experienced by a demographic group which constitutes just 2 percent of the US population.

A striking 69 percent of all religion-based hate crimes that were reported to the FBI in 2024 targeted Jews, with 2,041 out of 2,942 total such incidents being antisemitic in nature. Muslims were targeted the next highest amount as the victims of 256 offenses, or about 9 percent of the total.

Follow Dion J. Pierre @DionJPierre.

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Trump Says Hamas Must Be ‘Confronted and Destroyed’ to Secure Release of Remaining Hostages in Gaza

US President Donald Trump speaks at a meeting with NATO Secretary General Mark Rutte (not pictured), at the NATO summit in The Hague, Netherlands, June 25, 2025. Photo: REUTERS/Brian Snyder

US President Donald Trump on Monday called for the outright defeat of Hamas, posting on social media that the only path to the safe return of Israeli hostages still held in Gaza is through the Palestinian terrorist group’s destruction.

“We will only see the return of the remaining hostages when Hamas is confronted and destroyed!!! The sooner this takes place, the better the chances of success will be,” Trump said on Truth Social.

His remark came as Israel continued to wage its military campaign in Gaza to free the hostages and dismantle Hamas’s Oct. 7, 2023, military and governing capabilities in the enclave following the Hamas-led invasion of southern Israel, where Palestinian terrorists murdered 1,200 people and abducted 251 hostages.

Nearly two years later, 50 hostages still remain in Gaza, including 20 believed to still be alive.

“Remember, I was the one who negotiated and got hundreds of hostages freed and released into Israel (and America!),” Trump added on Truth Social.

Israel has said it will ramp up military pressure on Hamas by seizing control of Gaza City, a major hub for the terrorist group, while simultaneously pursuing negotiations for a potential ceasefire and hostage-release deal. Hamas has reportedly accepted the latest proposal for a 60-day ceasefire with Israel that includes the return of half the hostages the terrorist group holds in Gaza and Israel’s release of some Palestinian prisoners.

Many families of current and former Israeli hostages have argued against escalating operations on Hamas, expressing fear that such a move could lead the terrorist group to execute their loved ones. Others have argued that military pressure is the best way to force Hamas to release hostages as part of a ceasefire on more favorable terms for Israel.

On Monday, Trump also touted his decision to authorize the US military to bomb Iranian nuclear sites in June, an act which was intended to prevent the world’s foremost state sponsor of terrorism from building nuclear weapons. 

“I was the one who ended 6 wars, in just 6 months. I was the one who OBLITERATED Iran’s Nuclear facilities. Play to WIN, or don’t play at all! Thank you for your attention to this matter! President DJT,” he wrote.

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