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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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The one Jewish value everyone should hold dear in the age of AI
As friends, relatives and even colleagues dive headlong into our AI future, I’ve been stuck nervously on the platform’s edge. I’m not a skeptic of technology by nature, but by experience. I’ve watched too many shiny new toys come along, promising to make society smarter or better connected, only to become superspreaders of confusion, alienation and disenfranchisement.
So when you tell me a machine can summarize any book, draw any picture or write any email, my first thought is going to be, What could possibly go wrong?
This, too, was the reaction of the Haredi rabbis who declared a communal fast over AI last month.
“If at the push of a button, I can get a hold of a d’var torah for my Shabbos meal from AI, to us, that’s a problem,” a Haredi leader told me at the time. “No, no — I want you to open the book and read it and come up with a question and come up with an answer. That’s part of what’s holy about learning Torah. It’s not just end result. It’s the process.”
Curious about their logic, I spent some time tracking down Lakewood’s gedolim to learn more. This was no straightforward task — I found it easier to get a hold of their wives than the great rabbis themselves. Even at dinner hour, these titans of Torah study were still in the beit midrash. But eventually I got through to three — thanks to my cousin Jeffrey, who knew a rav who knew a rav — and that was fortunate, because I came away with the Jewish skeleton key to our brave new world.
That key is the Jewish value of עֲמֵילוּת (ameilut), or toil. As far as Jewish values go, ameilut is an obscure one. It lacks the celebrity swagger of its better-known peers like chesed and tzedakah or the political power of tikkun olam. It was never associated with a biblical matriarch or carved into a golem’s forehead. Yet I believe it is just as crucial. Yes, toiling is a mitzvah. And in the age of AI, ameilut can be a human road map.
The word’s root appears a couple dozen times in the Hebrew Bible — unsurprisingly, it’s a recurring theme in Job — but its salience comes not from the Torah but from commentary on Leviticus 26:3, which establishes ameilut as a sacred endeavor. When God implores Israel to “walk with” the commandments, Rashi, an 11th century rabbi whose commentaries are considered authoritative, reinterpreted this to mean that God wants Jews to be ameilim b’torah — toiling in Torah study. He is reinterpreting God’s command that we walk and move forward to also mean that we should take time to stand still, turn over (and over) the same words to find new meaning and view getting stuck as a sign of progress.
For Haredim — who pronounce it ameilus — the notion that struggle can be its own reward underpins a life spent poring over sefarim in the beit midrash (and missing phone calls from the Jewish press). It follows that ChatGPT, which transforms knowledge from something developed to something consumed, is anathema to their approach. They’ve realized that making learning easy has actually made learning hard.
To be sure, the goals of the Haredi world are not exactly the same as mine. Those communities are famously insular, wary of the internet and especially cognizant of secular society’s pernicious influence. I’m basically the opposite: I love to mix it up (including with Haredi Jews) and am extremely online. A little narishkeit is good for the soul, as far as I can tell.
But I’ve found that ameilut-maxxing translates pretty well to non-religious life, too. It’s an imperative to embrace the challenge. As a notoriously limited chef, I’m now toiling in cookbooks; as a writer, I can cherish the blank page. Reframing the hard part as the good part, then, is a reminder that the toil is actually our divine right. Because ameilut is something AI can’t experience, replicate or understand. It is the very essence of what it means to be alive.
The post The one Jewish value everyone should hold dear in the age of AI appeared first on The Forward.
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Mistrial Declared in Case of Students Charged After Stanford Anti-Israel Protests
FILE PHOTO: A student attends an event at a protest encampment in support of Palestinians at Stanford University during the ongoing conflict between Israel and the Palestinian Islamist group Hamas, in Stanford, California U.S., April 26, 2024. Photo: REUTERS/Carlos Barria/File Photo
A judge declared a mistrial on Friday in a case of five current and former Stanford University students related to the 2024 pro-Palestinian protests when demonstrators barricaded themselves inside the school president’s office.
Twelve protesters were initially charged last year with felony vandalism, according to prosecutors who said at least one suspect entered the building by breaking a window. Police arrested 13 people on June 5, 2024, in relation to the incident and the university said the building underwent “extensive” damage.
The case was tried in Santa Clara County Superior Court against five defendants charged with felony vandalism and felony conspiracy to trespass. The rest previously accepted plea deals or diversion programs.
The jury was deadlocked. It voted nine to three to convict on the felony charge of vandalism and eight to four to convict on the felony charge to trespass. Jurors failed to reach a verdict after deliberations.
The charges were among the most serious against participants in the 2024 pro-Palestinian protest movement on US colleges in which demonstrators demanded an end to Israel’s war in Gaza and Washington’s support for its ally along with a divestment of funds by their universities from companies supporting Israel.
Prosecutors in the case said the defendants engaged in unlawful property destruction.
“This case is about a group of people who destroyed someone else’s property and caused hundreds of thousands of dollars in damage. That is against the law,” Santa Clara County District Attorney Jeff Rosen said in a statement, adding he sought a new trial.
Anthony Brass, a lawyer for one of the protesters, told the New York Times his side was not defending lawlessness but “the concept of transparency and ethical investment.”
“This is a win for these young people of conscience and a win for free speech,” Brass said, adding “humanitarian activism has no place in a criminal courtroom.”
Protesters had renamed the building “Dr. Adnan’s Office” after Adnan Al-Bursh, a Palestinian doctor who died in an Israeli prison after months of detention.
Over 3,000 were arrested during the 2024 US pro-Palestinian protest movement, according to media tallies. Some students faced suspension, expulsion and degree revocation.
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Exclusive: FM Gideon Sa’ar to Represent Israel at 1st Board of Peace Meeting in Washington on Thursday
Israeli Foreign Minister Gideon Sa’ar speaks next to High Representative for Foreign Affairs and Security Policy and Vice-President of the European Commission Kaja Kallas, and EU commissioner for the Mediterranean Dubravka Suica as they hold a press conference on the day of an EU-Israel Association Council with European Union foreign ministers in Brussels, Belgium, Feb. 24, 2025. Photo: REUTERS/Yves Herman
i24 News – Israel’s Foreign Minister Gideon Sa’ar will represent the country at the inaugural meeting of the Gaza Board of Peace in Washington on Thursday, i24NEWS learned on Saturday.
The arrangement was agreed upon following a request from Israel’s Prime Minister Benjamin Netanyahu, who will not be able to attend.
Netanyahu pushed his Washington visit forward by a week, meeting with US President Donald Trump this week to discuss the Iran situation.
A U.N. Security Council resolution, adopted in mid-November, authorized the Board of Peace and countries working with it to establish an international stabilization force in Gaza and build on the ceasefire agreed in October under a Trump plan.
Under Trump’s Gaza plan, the board was meant to supervise Gaza’s temporary governance. Trump thereafter said the board, with him as chair, would be expanded to tackle global conflicts.