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As foreign investors warn over Israel’s future, ratings firm accused of anti-Israel bias says it’s not worried — for now
(JTA) — As much of the financial world increasingly eyes political developments in Israel with concern, a company that specializes in assessing investments based on social responsibility criteria made a special announcement Wednesday in which it declared Israel “a low-risk country.”
That designation is both a signal to investors that they are unlikely to get entangled in human rights abuses or other scandals if they put their money in Israel, and a reassurance intended for pro-Israel advocates who have accused the company of bias against Israel.
The announcement from the multibillion-dollar Chicago-based financial research firm Morningstar is the latest entry in a debate about how companies around the world should regard the Israeli-Palestinian conflict. One side says that Israel should be treated as regular Western democracy and the other says that Israel’s treatment of the Palestinians should put the country in the class of authoritarian regimes.
But another debate about Israel’s investment worthiness has emerged in recent months following the election of a new Israeli government led by Benjamin Netanyahu, whose slim parliamentary majority relies on the support of parties with far-right platforms.
Netanyahu, who is on trial for corruption, has vowed to overhaul Israel’s judicial system and rein in the independence of the courts. Many financial analysts consider a weakened judiciary a red flag for investors.
Sarah Wirth, a spokesperson for Morningstar, said that its analysis designating Israel a low-risk country does not yet account for recent developments in Israel.
“Some of the changes developing in Israel may impact their Country Risk Rating once we incorporate them into our analysis,” Wirth wrote in an email to the Jewish Telegraphic Agency in reference to the judicial reform plan.
The latest warning about Israel’s place in the global economy emerged Friday with the leak of an internal report written by JPMorgan, one of the largest banks in the world.
The report compared Israel to Poland, which passed a similar judicial reform in 2016 and saw a downgrade to its credit rating, which was a major blow because national credit ratings can either attract or drive away investments from abroad.
JPMorgan analysts wrote that Israel’s credit rating still “stands comfortably in the investment grade bucket” but that Netanyahu’s plan could cause it to go down.
The report adds to a warning by another Wall Street giant, Goldman Sachs, which said last week that the Israeli shekel could be affected by “growing concern over domestic political developments.”
“The five most recent elections over the past three-year period have had typically limited read-through to financial markets,” Goldman Sachs economist Tadas Gedminas wrote in a report. “This is not to say that the current situation could not have a more meaningful impact this time around, and we will closely monitor ongoing developments.”
Netanyahu has rejected criticism of his judicial plan by saying that the proposed reforms are being misrepresented by his critics and that they would merely bring Israel’s courts in line with courts in other Western countries. The plan would limit the ability of the Supreme Court to rule laws and government actions as unconstitutional, give the government control over the appointments of new judges and end the independence of the position of legal advisor across various government offices, among other measures.
Netanyahu has also said that regardless of the warnings by analysts, international investors are excited about Israel and eager to acquire equity in Israeli companies. His latest pronouncement came from France where he said he met with 60 local business leaders.
“What they’re saying about investors running away is nonsense,” Netanyahu said. “We want to increase our investments in Israel.”
Some of Israel’s own business leaders are concerned enough about the country’s direction that they are choosing to decamp. The CEO of tech company Verbit, which was valued at $2 billion in 2021, announced Tuesday that he would leave the country to avoid paying millions in taxes as a protest of the judicial overhaul plan.
“Over the past few years, I’ve paid tens of millions of dollars in taxes and my company has paid hundreds of millions in taxes,” Verbit CEO Tom Livne said on Israel’s Channel 12. He encouraged others in Israel’s vaunted tech sector to do the same.
Livne’s announcement comes about a week after two Israeli tech firms, including one that was valued at $3.7 billion in 2021, said they would withdraw assets from Israel for the same reason.
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The post As foreign investors warn over Israel’s future, ratings firm accused of anti-Israel bias says it’s not worried — for now appeared first on Jewish Telegraphic Agency.
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Yiddish has a long list of words for ‘cemetery‘
נישט אַלע ווייסן אַז אויף ייִדיש איז דאָ אַ גאַנצער וואָקאַבולאַר וועגן דעם, וווּ מע לייגט ייִדן נאָכן טויט.
וואָס טוט מען טאַקע מיט אַ מת? מע באַגראָבט אים אָדער מע באַהאַלט אים, אָדער מע איז אים מקבר, אָדער מע ברענגט אים צו קבֿר־ישׂראל. „באַגראָבן“ האָט דאָך אויך אַ פֿאַרשפּרייטן מעטאַפֿאָרישן טײַטש, „רויִנירן“. אָט איז דאָ אַ ווערטערשפּיל: „שטאַרבן איז נאָך ווי ס’איז, אָבער דאָס אַרײַנלייגן אין דר’ערד, דאָס באַגראָבט אַ מענטשן!“
וועגן דעם אָרט, וווּ ס’ליגן ייִדן נאָכן טויט, איז דאָ אַ לאַנגע רשימה ווערטער, כּמעט אַלע אייפֿעמיזמען. נאָך די הונדערט יאָר ליגן ייִדן און ייִדישע טעכטער, קודם־כּל, אויף אַ בית־עולם. אויף לשון־קודש איז „עולם“, פֿאַרשטייט זיך, טײַטש „וועלט“ און אויף ייִדיש — „אַ גרופּע מענטשן“; אָבער אויף לשון־קודש האָט „עולם“ נאָך אַ טײַטש, „אייביקייט“. איז אַ בית־עולם דאָס אָרט, וווּ מע בלײַבט אויף אייביק. דאָס אייגענע איז שייך צום אַרמיש־שטאַמיקע „בית־עלמין“.
אַ פֿאַל פֿון לשון סגי־נהור, דאָס הייסט וווּ מע זאָגט איין זאַך אָבער מע מיינט דאָס פֿאַרקערטע, איז „בית־חיים“, טײַטש „דאָס הויז פֿון לעבן“. אַן אַנדער וואָרט, נישט קיין אייפֿעמיזם, איז „בית־הקבֿרות“, דאָס הייסט, דאָרטן, וווּ ס’געפֿינען זיך קבֿרים.
אָבער נישט אַלע ווערטער נעמען זיך פֿון לשון־קודש. מע זאָגט דאָך אויך „דאָס פֿעלד“, „דאָס גוטע־אָרט“, „דאָס הייליקע אָרט“, „דאָס ריינע אָרט“. אַ טשיקאַווער משל דערפֿון: איך בין אַ מאָל געפֿאָרן אין דער שטאָט גער, נישט ווײַט פֿון וואַרשע, וואָס ביזן חורבן איז זי געווען דער זיץ פֿונעם באַקאַנטן גערער רבין. אין 2007 זענען אין דער שטאָט געבליבן גאַנצע דרײַ ייִדן, האָב איך געהאַט די זכיה זיך צו באַקענען, און צו כאַפּן אַ ייִדישן שמועס, מיט צוויי. (וויפֿל מאָל אין לעבן איז מיר אויסגעקומען צו שמועסן אויף ייִדיש מיט אַ ייִד, וואָס האָט איבערגעלעבט דעם חורבן און וווינט נאָך אין זײַן מיזרח־אייראָפּעיִשער היימשטאָט?)
איינער פֿון זיי, וועלוול קאַרפּמאַן, האָט מיט אַ פּאָר יאָר שפּעטער געגעבן אַן אינטערוויו דער ייִדישער ראַדיאָ־אוידיציע פֿונעם פּוילישן ראַדיאָ (צום באַדויערן, האָט מען די ראַדיאָ־אוידיציע דערנאָכדעם אָפּגעשאַפֿט). ווען די זשורנאַליסטקע האָט אים אַ פֿרעג געטאָן וועגן דעם גורל פֿונעם גערער בית־עולם, האָט ער זי איבערגעפֿרעגט: „איר מיינט ס’גוטע־אָרט?“ יעדעס מאָל, וואָס זי האָט ווײַטער געזאָגט „בית־עולם“, האָט ער געענטפֿערט „ס’גוטע־אָרט“.
אויך בײַ די אומות־העולם זענען די ווערטער דערפֿאַר אייפֿעמיזמען. דאָס פֿאַרשפּרייטסטע וואָרט אין אייראָפּע איז ס’ענגלישע cemetery, ס’פֿראַנצייזישע cimetière אד”גל, פֿון אַן אַלטגריכישן ווערב פֿאַר „ליגן/לייגן שלאָפֿן“. גאָר אַ מאָל, פֿאַר דער הײַנטיקער צײַט־רעכענונג, איז ס’גריכישע וואָרט געווען טײַטש „שלאָפֿשטוב“; בײַ די קריסטן בשעתּו האָט עס באַקומען דעם מאָדערנעם טײַטש. אַ ווײַטער קרובֿ פֿון דעם וואָרט איז ס’ייִדישע „היים“, אַ פּנים, ווײַל אין דער היים שלאָפֿט מען, אָבער נישט פּונקט אַזוי ווי אויפֿן בית־עולם…
דאָס דײַטשישע Friedhof איז דער „שלום־הויף“; און Kirchhof „קלויסטערהויף“ איז מגולגל געוואָרן אינעם פּוילישן Kirkut „ייִדישער בית־עולם“!
און אַזוי ווי מאַמע־לשון האָט פּאַראַלעלע וואָקאַבולאַרן פֿאַר ייִדן און פֿאַר קריסטן איז גאָר קיין חידוש נישט, וואָס אויפֿן אָרט, וווּ ס’ליגן קריסטן זאָגט מען „צווינטער“ אָדער „צמענטער“, מסתּמא, פֿון פּוילישן cmentarz פֿונעם זעלביקן גריכישן שורש וואָס cemetery.
The post Yiddish has a long list of words for ‘cemetery‘ appeared first on The Forward.
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IHOP denies inviting Florida GOP candidate who said ‘Americans shouldn’t die for Israel’
(JTA) — James Fishback, the fringe GOP candidate courting the online far right in his long-shot bid for governor of Florida, had a bit of food-service drama this week — and it wasn’t about the “goyslop” he previously claimed was being served in the state’s school cafeterias.
Waffle House, he alleged, had banned him from every restaurant in the state after he announced his intent to campaign at the chain’s Florida locations. The reason, he claimed, was because he said that “Americans shouldn’t die for Israel.”
But not to worry, Fishback quickly announced: Another breakfast chain, International House of Pancakes, had extended an invitation to him personally.
“Hey, wanna come over?” reads a direct message Fishback posted to social media, a photo of which appears to come from IHOP’s official corporate account. An elated Fishback soon posted photos from a campaign stop at an IHOP, which he deemed “International House of Patriots.”
Not so, an IHOP spokesperson told the Jewish Telegraphic Agency.
“Since our founding, IHOP and its franchisees have been committed to providing warm and welcoming dining experiences for all guests. We are not working with James Fishback or his campaign in any capacity,” the spokesperson told JTA in an email. “Additionally, we have confirmed that the image circulating on social media is not authentic.”
Fishback did not return a request for comment by JTA about IHOP’s claim. The former investment banker has used terms on the campaign trail considered dogwhistles to the online far right and boasts a large online profile that has included interviews with Tucker Carlson and antisemitic podcaster Myron Gaines. He has also praised the followers of antisemitic streamer Nick Fuentes.
Asked by JTA why he had made his earlier “goyslop” comments, Fishback replied, “Because it’s funny. Get a life.”
He then posted the exchange to his X account under the caption, “Journalists are insufferable.”
Earlier in the same conversation, asked about recently revealed racist and antisemitic messages from a Florida Young Republicans regional group chat, Fishback replied, “I condemn all forms of hatred.”
The post IHOP denies inviting Florida GOP candidate who said ‘Americans shouldn’t die for Israel’ appeared first on The Forward.
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Iran Names Khamenei’s Hardline Son Mojtaba as New Supreme Leader
FILE PHOTO: Mojtaba Khamenei, the second son of Iran’s late Supreme Leader Ayatollah Ali Khamenei, visits Hezbollah’s office in Tehran, Iran, October 1, 2024. Office of the Iranian Supreme Leader/WANA (West Asia News Agency)/Handout via REUTERS/File Photo
Iran on Monday named Mojtaba Khamenei to succeed his father Ali Khamenei as Supreme Leader, signaling that hardliners remain firmly in charge in Tehran a week into its conflict with the United States and Israel.
Mojtaba, a mid-ranking cleric with influence inside Iran’s security forces and vast business networks under his father, had been seen as a frontrunner in the lead up to the vote by the assembly, a body of 88 clerics charged with choosing the new leader after Ali Khamenei.
“By a decisive vote, the Assembly of Experts, appointed Ayatollah Seyyed Mojtaba Hosseini Khamenei as the third Leader of the sacred system of the Islamic Republic of Iran,” the assembly said in a statement issued just after midnight Tehran time.
The position gives Mojtaba the final say in all matters of state in the Islamic Republic.
Mojtaba’s appointment will likely draw the ire of US President Donald Trump, who said on Sunday that Washington should have a say in the selection. “If he doesn’t get approval from us, he’s not going to last long,” he told ABC News. Israel, ahead of the announcement, threatened to target whoever was chosen.
Mojtaba’s father, Supreme Leader Ali Khamenei, was killed in one of the first strikes launched against Iran more than a week ago.
The US military on Sunday reported a seventh American has died from wounds sustained during Iran’s initial counter-attack a week ago, a day after Trump presided over the return to the United States of the remains of the six others who died.
The US-Israeli attacks have killed at least 1,332 Iranian civilians and wounded thousands, according to Iran’s U.N. ambassador.
As Trump pressed for an “unconditional surrender,” Mohammad Bagher Qalibaf, Iran’s parliament speaker, said Tehran was not seeking a ceasefire to the war and would punish aggressors.
Israel continued to target senior Iranian figures, including Abolqasem Babaian, the recently appointed head of the military office of the supreme leader, saying he was killed in a Saturday strike.
BLACK SMOKE HANGS OVER TEHRAN
As fighting escalated on day nine of the US-Israeli campaign against Iran, thick black smoke hung over Tehran on Sunday, residents said, after strikes on oil storage facilities had lit up the night sky with plumes of orange flame.
Iran’s foreign ministry spokesperson Esmaeil Baghaei said the large-scale attack marked a “dangerous new phase” of the conflict and amounted to a war crime.
“By targeting fuel depots, the aggressors are releasing hazardous materials and toxic substances into the air,” he wrote on X.
Israeli military spokesman Lieutenant Colonel Nadav Shoshani told reporters the depots were used to fuel Iran’s war effort, including producing or storing propellant for ballistic missiles. “They are a legal military target,” he said.
Israeli Prime Minister Benjamin Netanyahu said his government would press on with the assault and strike Iran’s rulers “without mercy.”
“We have an organized plan with many surprises to destabilize the regime and enable change,” he said in a video statement.
US special envoy Steve Witkoff and Trump’s son-in-law Jared Kushner will visit Israel on Tuesday, according to Axios, citing a senior US official.
Trump told reporters on Air Force One that he was not seeking negotiations to end the conflict, which has driven up global energy prices, disrupted business and snarled air travel.
“At some point, I don’t think there will be anybody left maybe to say, ‘We surrender,’” he said.