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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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Vanderbilt launches inquiry into instructor after math question about Israeli occupation draws criticism
(JTA) — Vanderbilt University has launched an inquiry into a mathematics lecturer whose classroom exercise about Palestinian territory drew criticism from the activist group StopAntisemitism.
Tekin Karadağ, a senior lecturer at the university’s department of mathematics, drew the ire of the antisemitism watchdog after it obtained a slide from one of his lectures that used a pro-Palestinian protest slogan and suggested that Israel was shrinking the Palestinian territory.
“Assume Palestine as a state with a rectangular land shape. There is the Mediterranean Sea on the west and the Jordan River on the east,” read the slide. “From the river to the sea, Palestine (…) was approximately 100 km. in 1946. The land decreases by 250 sq. km per year, due to the occupation by Israel. How fast is the width of the land decreasing now?”
Karadǎg, a Turkish national who received his PhD from Texas A&M University in 2021, included the question under “examples related to the popular issues” in a survey of calculus class, according to StopAntisemitism, which wrote in a post on X that Karadǎg was “bringing his anti-Israel, antisemitic bias into his classroom.”
In a statement shared with the Jewish Telegraphic Agency, Vanderbilt said that the content had been removed and that an inquiry had been launched into Karadağ.
“The university has received reports alleging a member of the faculty engaged in unprofessional conduct related to content shared during course instruction,” the school said. “The content in question has been removed, and a formal inquiry has been initiated consistent with relevant university policy.”
In recent years, rhetoric about the Israeli-Palestinian conflict on college campuses has grown increasingly fraught, with professors’ commentary on the region sparking heavy scrutiny and, at times, disciplinary measures when their universities have determined that they exceeded the bounds of academic freedom. A recent report by Columbia University’s antisemitism task force found that students frequently experienced pro-Palestinian advocacy in classes entirely unrelated to the Middle East — such as dance or math classes.
The inquiry was not the first time that Vanderbilt took swift action against the expression of pro-Palestinian sentiments on its campus.
In March 2024, the university, which has roughly 1,100 Jewish undergraduate students, was among the first universities to expel students who participated in pro-Palestinian demonstrations. This year, the school’s antisemitism “grade” from the Anti-Defamation League was bumped up from a “C” to an “A.”
The post Vanderbilt launches inquiry into instructor after math question about Israeli occupation draws criticism appeared first on The Forward.
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Hugh Laurie rejects ‘Zionist’ label after his tribute to Israeli ‘Tehran’ producer sparks social media firestorm
(JTA) — British actor Hugh Laurie pushed back against being labeled as a “Zionist” after facing a wave of online criticism for posting a tribute to the Israeli producer of the hit television show “Tehran.”
“Dana Eden, who co-created and produced ‘Tehran’, died on Sunday, seemingly by her own hand,” Laurie, who played a nuclear inspector in the show’s third season, tweeted last week. “It’s a terrible thing. She was brilliant, and funny, and an exceptional leader. Love and condolences to all who knew her.”
The seemingly innocuous post eulogizing Eden, 52, who was found dead while filming the latest season of the hit Apple TV+ series in Athens last week, quickly drew a volley of backlash on social media.
“She was part of the occupation force’s propaganda arm,” wrote one user in response to Laurie’s post. “What a shame, didn’t expect you to be a closet Zionist.” Another wrote that Eden “creates propaganda for Israel so that they can kill kids more effectively. People should have no sympathy for her.”
The award-winning series, which follows a young Israeli Mossad agent in Iran, was produced by the Israeli public broadcaster Kan and purchased by Apple TV+ in 2020 for roughly $20 million. Eden’s death, for which no cause has been announced, occurred during production of the show’s fourth season, which had already stalled following Oct. 7.
Laurie is not the first actor to spurn the “Zionist” label, as entertainers in recent years have increasingly faced pressure to declare their views on Israel. In December, Jewish actress Odessa A’zion pushed back on claims she was a Zionist after an image of her wearing an IDF shirt as a teenager circulated online.
On Friday, Laurie, who previously starred in the Emmy Award-winning medical drama “House,” shot back at the criticism.
“Nothing I have ever said or done could lead a sane person to believe that I am a Zionist,” wrote Laurie in a post on X. “However. If someone exults in the death of a friend of mine, yes I will block them. If you wouldn’t do the same in my position, you can f—ck off too.”
Laurie’s subsequent post also drew outcry, but this time from pro-Israel influencers who lamented the actor’s disavowal of the Zionist label, calling him “weak” and a “pathetic weasel” in the replies.
Freelance journalist Angela Epstein replied to Laurie’s post, writing, “Not Hugh Laurie as well. I thought he was one of the decent ones….”
“God almighty, why does no one understand English any more?” wrote Laurie in response to Epstein’s critique. “I have not spoken or written a word that would indicate pro or anti Zionism. That’s what those words mean. Blimey.”
The post Hugh Laurie rejects ‘Zionist’ label after his tribute to Israeli ‘Tehran’ producer sparks social media firestorm appeared first on The Forward.
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German anti-Zionist group’s plan to protest at Buchenwald memorial over kaffiyeh ban sparks outrage
(JTA) — An anti-Zionist group in Germany has drawn condemnation after it announced plans for a protest against the Buchenwald concentration camp memorial in response to a ban on pro-Palestinian symbols at the site.
The group Kufiyas in Buchenwald claims that the memorial has become a place of “historical revisionism and genocide denial.” It announced a demonstration for April 11, the anniversary of the liberation of the Nazi concentration camp.
“Instead of honoring the persecuted and resolutely opposing every genocide, the memorial spreads Israeli propaganda and provides the ideological ammunition for the ongoing genocide in Palestine,” the group says on its website.
Buchenwald, one of the first concentration camps built by the Nazis and one of the largest in the country, was the site of the murder of roughly 56,000 male prisoners, including 11,000 Jews, from 1937 to 1945.
Last year, a German court ruled that the concentration camp had a right to refuse entry to visitors who wear a keffiyeh, a traditional Palestinian headscarf that has been adopted by pro-Palestinian protesters. The ruling stemmed from a lawsuit by a woman who attempted to wear the scarf to an event commemorating the concentration camp’s liberation.
The woman, who was only identified by her first name, Anna, posted a testimony about her actions on the Kufiyas in Buchenwald Instagram page in which she said she was inspired by the resistance of Buchenwald prisoners.
“Our fundamental principle is this: criticism of the Israeli government’s policies, settlement policy, or actions in the Gaza Strip is legitimate,” said the Buchenwald Foundation’s director Jens-Christian Wagner in a statement outlining the memorial’s protocols. “However, it becomes antisemitic when used to relativize the Holocaust and discredit its victims as perpetrators. We will not tolerate this at the Buchenwald Memorial.”
The campaign against the memorial has been signed onto by a host of pro-Palestinian groups, including the International Jewish Anti-Zionist Network and the German group Jewish Voice for a Just Peace in the Middle East, which has defended the protest on X as evidence of what “commemorating past German crimes has to do with rejecting current ones.”
In a post on Instagram announcing the protest earlier this month, the Kufiyas in Buchenwald group wrote that it would hold a “public protest” in Weimar, the German city located nearby the concentration camp. The group also said it planned to host lectures and a “tour that vividly illustrates the events in the former concentration camp.”
It was unclear whether the protest is intended to take place outside the memorial itself. Kufiyas in Buchenwald did not immediately respond to an inquiry from the Jewish Telegraphic Agency about the location of the protest.
The protest quickly drew condemnation from German leaders, including the country’s antisemitism czar Felix Klein, who told the Swiss outlet Neue Zürcher Zeitung that the protest marked a “new low point in the unfortunately all-too-common reversal of perpetrator and victim roles.”
Michael Panse, the commissioner for combatting antisemitism for the German state Thuringia, where Weimar is located, told the outlet that the protest was “tasteless and historically ignorant.”
The protests also drew condemnation from the European Jewish Congress, which wrote in a post on X that the demonstration represents a “deeply troubling instrumentalization of Holocaust remembrance.”
“Holocaust memorial sites are places of solemn reflection and respect for the victims of National Socialism,” the post continued. “They must never be exploited to promote agendas that deny Israel’s legitimacy or glorify those who perpetrate violence against Jews.”
The post German anti-Zionist group’s plan to protest at Buchenwald memorial over kaffiyeh ban sparks outrage appeared first on The Forward.