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Norway Said to Reject Calls for Blanket Ban by Wealth Fund on Companies in Gaza, West Bank

An armed police officer guards the main entrance to the Norwegian parliament in Oslo, Norway April 3, 2024. Photo: REUTERS/Gwladys Fouche

Norway‘s parliament is poised to reject campaigners’ calls to instruct its $1.8 trillion wealth fund to boycott any company selling products and services in the Palestinian territories, according to a person familiar with the process.

A majority in the Norwegian parliament’s finance committee has decided that only companies that can be linked to the violation of international law should be excluded from the fund‘s portfolio, not just any companies with a presence in these areas, the person said.

The International Court of Justice said last year Israel’s “occupation of Palestinian territories” was illegal and it should pull out as soon as possible, in a ruling that Israel rejected as “fundamentally wrong” and one-sided.

Currently, the fund, which operates under ethical guidelines set by the Norwegian parliament, has blacklisted 11 companies for assisting Israel’s policies in the territories, the last of which was Israeli petrol station chain Paz earlier this month.

At the end of last year, the fund had just over $2 billion invested in 65 Israeli companies, or 0.1 percent of its total.

Since the start of the war in Gaza, the fund has faced growing pressure to divest from Israeli companies and all companies active in the West Bank and the Gaza Strip.

That would effectively force it to sell billions of dollars in stakes in major Western brands, some of which have already faced consumer boycott calls especially in Muslim-majority countries because they were perceived as friendly to Israel.

Campaigners want the Norwegian government to take the same action on Israel-linked investments as it did on Russian ones in 2022, when three days after Moscow’s invasion of Ukraine it instructed the fund to dispose of all of its holdings in Russia.

However, the decision by the parliamentary finance committee means no blanket ban on Israeli firms or on multinationals with global sales only because their products and services are available in Palestinian territories.

“If a company sells a generic product, which Israeli settlers buy, then this should not be sufficient to sell the fund out of the company,” said the person familiar with the committee’s decision, adding it would constitute a wider interpretation of the guidelines.

“But if we are speaking of specific products for, say, surveillance that are made specifically for the needs of Israeli settlers, then that is something completely different.”

The committee’s decision is part of its assessment of the government’s annual filing on the wealth fund, which is due to be debated in parliament on June 4, with a vote expected the same day.

Lawmakers are expected to vote along their parties’ lines as set in the parliamentary finance committee’s conclusions.

The decision will be closely watched, given Norway‘s fund, which owns 1.5 percent of the world’s listed shares across 9,000 companies, is seen as a leader in the field of investing focused on environmental, social and governance issues.

The finance committee also decided the fund should maintain a ban on investments in defense contractors that make components for nuclear weapons, such as Lockheed Martin, Boeing, or Airbus.

As Reuters earlier reported, political parties have debated whether to remove the ban given the changed security environment created by Russia’s invasion of Ukraine and the need to develop the Western defense industry.

But ultimately a majority of the finance committee decided against, concerned that its lifting would make managing the fund‘s ethical risk more complex.

The fund already owns shares in defense companies that sell weapons to Israel, including Germany’s Rheinmetall and Italy’s Leonardo, but not in the larger ones, like Lockheed Martin or Northrop Grumman.

($1 = 10.2958 Norwegian crowns)

The post Norway Said to Reject Calls for Blanket Ban by Wealth Fund on Companies in Gaza, West Bank first appeared on Algemeiner.com.

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Monroe Milsten, Founder of Burlington Coat Factory, Dies at 98

Burlington Coat Factory exterior (Source: Flickr)

Burlington Coat Factory exterior. Photo: Flickr

Monroe Milstein, the enterprising businessman who transformed a modest New Jersey coat store into the national retail powerhouse Burlington Coat Factory, passed away earlier this month at the age of 98 from dementia. 

Monroe Gerald Milstein was born on Jan. 14, 1927, in the Bronx, New York, to his mother, Ann Milstein, and father, Abe Milstein — founder of Amherst Fashions. When Monroe was 11, the family moved to Manhattan. He graduated from DeWitt Clinton High School in the Bronx and earned a bachelor’s degree in business from New York University in 1946.

In 1949, Milstein married Henrietta Haas, an elementary school teacher who had fled the Holocaust. Henrietta later played an integral role in shaping Burlington’s children wear division. She passed away in 2001.

In 1972, Milstein and his wife purchased a defunct factory in Burlington, New Jersey, for $675,000 with the goal of transforming it into a retail destination. The venture became Burlington Coat Factory, selling discounted designer and brand-name coats for women, men, and children. Eventually, the store’s offerings grew to include home linens, menswear, baby clothes, and shoes, laying the foundation for a nationwide retail empire.

Three years after the initial purchase, Burlington Coat Factory opened its second location in Copiague, Long Island. According to Family Business Magazine, Milstein’s eldest son, Lazar, was the store manager and, as an Orthodox Jew, would not open the store on Saturdays, the Jewish Sabbath.

In 1982, Milstein shut down Burlington’s wholesale operations and reoriented the company’s focus entirely to discount retail. Just a year later, in 1983, he took the company public when it operated only 32 stores — injecting the capital needed to fuel a rapid retail expansion.

In 2006, Bain Capital bought the company for $2.06 billion, with the Milstein family cashing out its stake for $1.3 billion. Milstein exited the business., and two of his sons, Andrew and Stephen, continued in executive positions for a period. The company returned to the public market in 2013.

“I’m a very average fella,” Milstein said on his 80th birthday regarding his business ventures. “I got lucky.”

During Milstein’s tenure, Burlington Coat Factory carved out a niche in the retail world by delivering brand-name goods at significant discounts. By the early 2000s, when he transitioned out of day-to-day management, the business had evolved into a national chain with hundreds of stores and a customer base numbering in the millions annually.

Burlington has grown to become the third-largest off-price retail chain in the US, following industry leaders TJX Companies (which operates TJ Maxx and Marshalls) and Ross Stores. Today, Burlington operates around 1,100 locations across the US, raking in roughly $10.6 billion in sales over the past 12 months.

He is survived by his children, grandchildren, and great-grandchildren, many of whom continue to carry forward his values of hard work and integrity.

The post Monroe Milsten, Founder of Burlington Coat Factory, Dies at 98 first appeared on Algemeiner.com.

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Trump Says He Told Israel’s Netanyahu Not to Act Against Iran

US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu hold a joint press conference in the East Room at the White House in Washington, US, Feb/ 4, 2025. Photo: REUTERS/Leah Millis

US President Donald Trump said on Wednesday he warned Israeli Prime Minister Benjamin Netanyahu last week not to take actions that could disrupt nuclear talks with Iran.

“I told him this would be inappropriate to do right now because we’re very close to a solution now,” Trump told reporters gathered in the Oval Office. “That could change at any moment.”

Israel earlier rejected a report in the New York Times that Netanyahu has been threatening to disrupt talks on a nuclear deal between the United States and Iran by striking Iran’s main nuclear enrichment facilities.

Citing officials briefed on the situation, the newspaper said Israeli officials were concerned that Trump was so eager to reach a deal with Iran that he would allow Tehran to keep its nuclear enrichment facilities, a red line for Israel.

Israel was particularly concerned about the possibility of any interim deal that would allow Iran to maintain its nuclear facilities for months or even years while a final agreement was reached, the paper reported.

US officials were concerned Israel could decide to strike Iran with little warning and said US intelligence estimated that Israel could mount an attack on Iran in as little as seven hours, the paper reported.

Netanyahu’s office issued a statement in response to the article which said simply: “Fake news.”

The New York Times said it stood by the report.

“The New York Times reporting on this matter is thorough and based on discussions with people directly familiar with the matter. We remain confident in what we published,” a spokesperson said in an email.

The paper said Netanyahu’s minister of strategic affairs, Ron Dermer, and David Barnea, head of the foreign intelligence agency Mossad, met Trump’s special envoy Steve Witkoff in Rome on Friday.

The two then traveled to Washington for a meeting on Monday with CIA director John Ratcliffe, before Dermer met Witkoff again on Tuesday.

One of the main sticking points in the talks between US and Iranian officials has been US insistence that Iran give up its nuclear enrichment facilities, a demand Iran rejects.

On Monday, US Homeland Secretary Kristi Noem said she had a “very candid conversation” with Netanyahu on the negotiations with Iran.

She said she told the Israeli prime minister that Trump had asked her to convey “how important it is that we stay united and let this process play out.”

Trump bypassed Israel on his trip to the Middle East this month and has made policy announcements that have shaken Israel‘s assumptions about its relations with the US.

Netanyahu has dismissed speculation about a falling out with the US administration, while Trump has also brushed off any suggestion of a break.

The post Trump Says He Told Israel’s Netanyahu Not to Act Against Iran first appeared on Algemeiner.com.

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Antisemitism Spike Is Top Concern in Survey of Global Jewish Population

Israeli President Isaac Herzog looks on during a meeting with US Secretary of State Antony Blinken, not pictured, in Washington, DC, on Oct. 25, 2022. Photo: Stefani Reynolds/Pool via REUTERS

A study polling more than 10,000 Jews across the world that was released on Wednesday by Voice of the People shows that worries about rising antisemitism now dominate lists of community challenges across demographics.

Working together with the World Zionist Organization and the Jewish Agency for Israel, the group led by Israeli President Isaac Herzog, the findings of the report will inform a council of 150 Jewish leaders from around the world.

“This is not just a data set — it’s a global Jewish reality check,” Shirel Dagan-Levy, CEO of Voice of the People, said in a statement. She added that the survey shows “a community that is hurting, but also more united than ever in its desire to stand tall, protect its heritage, and shape a stronger, safer future.”

Researchers focused on identifying what Jews saw as leading problems in their communities. Top responses included rising antisemitism (76 percent agreeing), Israel-diaspora relations (56 percent), Jewish-non-Jewish relations (49 percent), polarization within the Jewish world (49 percent), and preserving Jewish culture and heritage (46 percent).

“Antisemitism surging to unprecedented levels since Oct. 7 was the top concern by a wide margin,” Voice of the People said in a press release. “Respondents cited personal experiences of hate speech, exclusion, and discrimination — particularly in schools, universities, and on social media. Many reported suppressing their Jewish identity in public out of fear. The level of concern cut across age, geography, and level of observance.”

Neta Danciger, chief marketing and product officer of Voice of the People, added that “to truly hear the voices of our global Jewish community, we had to meet them where they are — online, across continents, and across generations.” She continued, “By combining the reach of digital and social media with a rigorous, community-driven survey model, we were able to capture authentic, real-time insights that reflect not only the challenges Jews face today, but also the resilience and unity that define our future.”

On connections between Israel and diaspora Jewish communities, researchers found a mix of results, both that some younger diaspora Jews felt greater distance from Israel while others felt a surge of emotional connection.

Nearly half of Jews described greater feelings of alienation from some non-Jewish spaces, particularly those of a progressive ideological orientation, due to what Voice of the People described as “misinformation, anti-Israel rhetoric, and ignorance about Jewish history” being “key drivers of mistrust and social isolation.”

As concerned as Jews were with those outside of their community, equal numbers also saw the internal divisions among politics, ideology, and generations as a problem in need of attention.

The survey noted some of these differences according to age.

Gen Z (82 percent) and millennials (81 percent) most identified antisemitism as a top problem. “Younger respondents expressed acute distress over hostility in social and digital spaces, with many reporting a sense of betrayal from progressive allies and a struggle to safely and confidently express their Jewish identity. Campus-based antisemitism and social media harassment were cited frequently,” Voice of the People stated.

Members of Generation X in particular (78 percent) tended to hide public expressions of their Jewish identity to avoid antisemitism while Baby Boomers and Silent Generation respondents (68 each) focused their concerns on “the future of Israel, Jewish continuity, and a sense that historical cycles of persecution may be repeating,” according to Voice of the People.

Researchers also identified geographic trends.

Jews in Israel (89 percent) said they felt strong concerns for Jews in the diaspora, seeing rising antisemitism as a threat to the collective Jewish future.

In the United States, respondents (78 percent) described failures of institutions to offer support, especially in academic and professional settings, while in the United Kingdom, 81 percent said they felt a need to conceal their Jewish identity in public.

Of those living in France, 73 percent said they worried about antisemitic rhetoric, public hostility, and misinformation.

For Jews in Argentina (87 percent) and Mexico (84 percent) concerns about rising antisemitism went alongside a greater sense of pride in their Jewish identity.

Majorities in South Africa (75 percent) and in Australia (65 percent) supported education, solidarity, and local activism to counter antisemitism.

The survey also offered respondents the opportunity to provide open-ended answers to questions such as “How have recent events impacted your sense of Jewish identity and community?”

One person quoted in the report answered that “it has made me more acutely aware of antisemitism and that very few people or communities care about what happens to us except us.”

The post Antisemitism Spike Is Top Concern in Survey of Global Jewish Population first appeared on Algemeiner.com.

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