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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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US Senators Sound Alarm Over Hezbollah’s Expanding Operations in Latin America
Supporters of Hezbollah attend a protest organized by them against what they said was a violation of national sovereignty, near Beirut international airport, Lebanon, Feb. 15, 2025. Photo: REUTERS/Emilie Madi
As Iran grapples with mounting international sanctions, US lawmakers have warned that Lebanese Hezbollah, the Iranian regime’s chief proxy force in the Middle East, is turning more to its overseas financial networks to finance illicit operations, while expanding its footprint across Latin America, particularly in Venezuela.
At a Senate Caucus on International Counternarcotics Control hearing on Tuesday, both Republican and Democratic senators discussed how Hezbollah has firmly entrenched itself in Latin America’s criminal networks under the protection of Venezuelan President Nicolás Maduro, who provides “a safe haven” for the Iran-backed terrorist group.
According to multiple expert witnesses, under the protection of Maduro’s regime, illicit activities including narcotics trafficking, money laundering, and passport-for-terrorist schemes have thrived, making Venezuela the “most important facilitator for Hezbollah in Latin America.”
“Venezuela is a willing safe haven for what remains the most lethal, dangerous foreign terrorist organization to the United States,” Marshall Billingslea, a senior fellow at the Hudson Institute, a Washington, DC-based think tank, said during the hearing.
In the past, Hezbollah’s operations in South America were largely concentrated in Colombia and the Tri-Border Area — where Paraguay, Argentina, and Brazil intersect and illicit activity has long thrived — an especially notable hotspot for organized crime across the region.
However, under Maduro’s leadership and amid growing ties with Iran, Venezuela has become an increasingly significant financial hub for Hezbollah operatives.
Among other activities, the US claims that the terrorist group funds its operations through a wide range of illicit schemes, including money laundering, drug trafficking — including so-called “black cocaine” — smuggling charcoal and oil, illegal diamond trading, document forgery, counterfeiting US dollars, and trafficking large amounts of cash, cigarettes, and luxury goods.
During Tuesday’s hearing, US senators warned that Hezbollah’s expanding footprint in Latin America has now become a hemispheric threat, requiring a coordinated US response.
Both Republicans and Democrats urged more Latin American nations — particularly Brazil and Mexico — to follow the lead of Argentina, Colombia, and Paraguay in designating Hezbollah as a terrorist organization, arguing that doing so would help disrupt its financial networks and curb Iran’s influence in the region.
The US officially designated Hezbollah as a Foreign Terrorist Organization (FTO) in 1997 and later as a Specially Designated Global Terrorist (SDGT) group in 2001, while Iran was classified as a State Sponsor of Terrorism in 1984.
During the hearing, several senators also called for a tougher government response to Venezuela’s cooperation with Iran, warning that their expanding partnership poses an increasing threat.
Iran is the chief international backer of Hezbollah, as well as the Palestinian terrorist group Hamas and Yemen’s Houthi rebels, providing these Islamist groups with weapons, funding, and training.
Hezbollah has long been “one of Iran’s tools to destabilize and terrorize,” operating extensively across the globe, said Sen. Sheldon Whitehouse, the top Democrat on the Senate International Narcotics Control Caucus.
However, as economic sanctions strain Iran and disrupt Hezbollah’s financial channels in the Middle East, the group is turning more heavily to Latin American criminal networks and illicit activities to sustain itself.
“Hezbollah has a long history of turning to its diaspora networks when it’s facing financial stress,” said Matthew Levitt of the Washington Institute for Near East Policy. “If you need big money real fast, you turn to illicit activities and especially to narcotics trafficking.”
Levitt noted that Iran “is having a much harder time getting that money to Hezbollah in a timely manner,” explaining that the Lebanese Islamist group has been operating in Latin America for nearly 50 years.
Senators expressed alarm over the proximity of the threat to the US homeland.
“This is not just about the Middle East anymore,” Sen. John Cornyn (R-TX) said during the hearing. “It’s about a terrorist organization embedding itself in the Western Hemisphere under the protection of a hostile regime.”
As part of a campaign targeting drug trafficking and “narco-terrorist” networks near Venezuela, Washington has significantly ramped up pressure on Maduro’s regime, deploying bombers, warships, and Marines across the Caribbean.
In recent weeks, US President Donald Trump has ordered at least seven strikes on boats believed to be carrying narcotics and has built up thousands of troops in the region.
Earlier this month, Defense Secretary Pete Hegseth announced the creation of a new counter-narcotics Joint Task Force, saying it was established “to crush the cartels, stop the poison, and keep America safe.”
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International Court of Justice says Israel must work with UN to deliver aid into Gaza
The International Court of Justice issued an advisory opinion on Wednesday that Israel is legally obligated to work with the United Nations’ Palestinian relief agency to deliver aid into Gaza.
In its opinion, the ICJ rejected Israel’s justification for barring UNRWA, the UN Relief and Works Agency for Palestine, from operating in Israel in March, saying it was unable to prove that the agency was subject to “widespread infiltration” by Hamas.
While UNRWA still operates in Gaza, it has been unable to bring supplies into the enclave since the ban took effect.
“The occupying power may never invoke reasons of security to justify the general suspension of all humanitarian activities in occupied territory,” Judge Iwasawa Yuji said while delivering the opinion. “After examining the evidence, the court finds that the local population in Gaza Strip has been inadequately supplied.”
The ruling comes as top U.S. officials, including Vice President JD Vance, are in Israel to monitor the ceasefire between Israel and Hamas and lay the groundwork for improved humanitarian conditions in Gaza.
On Tuesday, Jared Kushner, who helped broker the deal, said there had been “surprisingly strong coordination” between the United Nations and Israel on delivering humanitarian aid into Gaza.
The ICJ, the United Nation’s top legal body, has no enforcement power. It ruled in January 2024 that South Africa’s claims that Palestinians are at risk of genocide were “plausible” but has not issued a ruling in that case.
The court’s opinion Wednesday passed in a vote of 10 to 1, with its Vice President Julia Sebutinde, who has previously ruled in favor of Israel, writing in her opinion that the court did not “sufficiently consider” UNRWA’s infiltration by Hamas.
Israel has long accused UNRWA employees of taking part in Hamas’ Oct. 7, 2023, attack. A UN investigation into the agency found that nine of its 13,000 workers “may have” participated in the attacks but no longer work for the agency.
Israel’s Foreign Ministry decried the ruling Wednesday in a post on X, writing that it “rejects the politicization of International Law.”
“Israel categorically rejects the ICJ’s ‘advisory opinion,’ which was entirely predictable from the outset regarding UNRWA,” the post read. “This is yet another political attempt to impose political measures against Israel under the guise of ‘International Law.’”
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StandWithUs Leads ‘Pride for Israel’ LGBTQ+ Conference in Los Angeles Set for Nov. 9
Jews of Pride members are seen marching in the Pride parade 2025, part of LGBTQ+ community’s Midsumma Festival. Photo: Alexander Bogatyrev / SOPA Images via Reuters Connect
StandWithUs, a leading pro-Israel student activism organization, has announced an all-day event set for next month bringing together members of the LGBTQ+ community who support the Jewish state.
Registration has opened for “Pride for Israel,” which will take place in West Los Angeles on Nov. 9. One of the keynote speakers at what StandWithUs (SWU) describes as a “first-ever” gathering will be Emily Damari, an Israeli former who survived Hamas captivity losing two fingers and hiding her LGBTQ+ identity from her captors.
Other announced attendees include prominent Substack writer Eve Barlow, journalist Luai Ahmed, speaker Tanya Tsikanovsky, model Bellamy Bellucci, game developer Brianna Wu, activist Matthew Nouriel, comedian Robin Tyler, Rabbi Denise Eger, former Los Angeles City Controller Ron Galperin, and representatives of The Aguda from Israel.
Co-sponsors of the event include A Wider Bridge, the Jewish Federation of Los Angeles (JFED), the American Jewish Committee (AJC) Los Angeles, and the Israeli-American Council (IAC).
Tickets cost $249 and include three meals in the price. Participants will be able to choose from plenaries, panel discussions, and breakout sessions which will explore a variety of topics challenging the LGBTQ+ pro-Israel community.
“Growing up Jewish, you learn what antisemitism feels like. Growing up LGBTQ+, you learn what homophobia feels like. When those experiences overlap, the pain is magnified, but so too is the resilience,” Nouriel, who serves as director of community engagement at JIMENA (Jews Indigenous to the Middle East and North Africa), said in a statement.
Roz Rothstein, SWU’s CEO and co-founder, emphasized the group sought to build bridges between communities and develop partnerships with other groups.
“Ultimately, this is about more than a single event. It is about affirming Jewish identity, and values of solidarity and courage. We are hoping to build a future where having Jewish, pro-Israel, and LGBTQ+ identities can thrive together without compromise, where solidarity is rooted in truth rather than propaganda, and where no one has to stand alone,” Rothstein said. “This is why building supportive networks within all segments of our society is essential. We are indebted to our partners who recognize the urgency of this moment including A Wider Bridge, for playing a pivotal role in the planning.”
Arthur Slepian founded A Wider Bridge in 2010 with the goal of seeking “to build meaningful relationships with Israel and LGBTQ people in Israel.” The group states that it works “to advance LGBTQ rights in Israel, advocate for justice, counter LGBTQ phobia, and fight antisemitism and other forms of hatred.”
Daniel Hernandez, board chair for a Wider Bridge, said in a statement that Pride for Israel “is more than a conference — it is a declaration that love, unity, and truth are stronger than hate. As board chair of A Wider Bridge, I am inspired to see our community come together to celebrate courage and resilience, and to stand proudly with Israel and with one another. This moment reminds us that when we build bridges across identities and borders, we create a future where every person can live authentically and without fear.”
The conference’s organizers noted the influence of “Queers for Palestine” activist groups which have sometimes sought to demonize pro-Israel LGBTQ+ individuals. A report released in July from the Combat Antisemitism Movement identified multiple incidents of anti-Israel bigotry at the previous month’s Pride events.
A Wider Bridge also released a report over the summer titled “Unsafe Spaces: Addressing Antisemitism Against LGBTQ+ Jews and Ensuring Pride Safety.”
Eger, who serves as interim executive director of A Wider Bridge and former president of the Central Conference of American Rabbis, spoke to The Algemeiner then and said, “What we have found since Oct. 7 and what the report points to is that the explosion of antisemitism that the whole Jewish community has experienced has in some ways grown even more exponentially in the LGBTQ community.”