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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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New York City Comptroller Affirms Commitment to Israel Bonds as Mamdani Under Fire Over Handling of Antisemitism
New York City Comptroller Mark Levine speaking on April 15, 2026. Photo: Luiz Rampelotto/EuropaNewswire/Sipa USA via Reuters Connect
New York City’s top financial official defended the city’s ongoing investment in Israel bonds as the administration of Mayor Zohran Mamdani faced growing criticism over its refusal to adopt a formal definition of antisemitism and continued hostile posture toward the Jewish state, paving the way for a showdown over how New York should address hate crimes and foreign investment policy.
Comptroller Mark Levine said on Wednesday that bonds issued by the Israeli government remained a safe, long-standing investment for city pension funds, insisting that financial decisions must be separated from political pressure. Levine pointed to the bonds’ decades-long record of repayment and argued his office’s responsibility was to maximize returns for retirees, not respond to shifting political campaigns.
“This is not political. It shouldn’t be political,” said Levine, a Democrat. “Israel bonds have never missed a payment in 70 years, ever, not once.”
The comptroller noted that the city has investments in other foreign countries but only faces protests for its association with Israel.
“And by the way, we’ve had no protesting about our investments in Saudi Arabia, our investments in Pakistan or China — only this one little, tiny sliver,” Levine said.
His comments came as the Mamdani administration faced continued scrutiny over its approach to Israel and antisemitism policy. Mamdani, a far-left democratic socialist who has made anti-Israel activism a cornerstone of his political career, has urged Levine to end city investments in Israel bonds.
Mamdani has long been an outspoken supporter of the boycott, divestment, and sanctions (BDS) movement, which seeks to isolate Israel on the international stage as the first step toward its elimination. Leaders of the movement have repeatedly stated their goal is to destroy the world’s only Jewish state.
In New York City specifically, records show that Israel bonds, historically yielding approximately 5 percent annually, have outperformed many alternatives.
Meanwhile, Israeli firms pour billions of dollars and tens of thousands of jobs into the local economy, and business experts have warned that a push for divestment could lead Israeli-associated and Jewish-owned companies to leave.
A study released by the United States-Israel Business Alliance in October revealed that, based on 2024 data, 590 Israeli-founded companies directly created 27,471 jobs in New York City that year and indirectly created over 50,000 jobs when accounting for related factors, such as buying and shipping local products.
These firms generated $8.1 billion in total earnings, adding an estimated $12.4 billion in value to the city’s economy and $17.9 billion in total gross economic output.
As for the entire state, the report, titled the “2025 New York – Israel Economic Impact Report,” found that 648 Israeli-founded companies generated $8.6 billion in total earnings and $19.5 billion in gross economic output, contributing a striking $13.3 billion in added value to the economy. These businesses also directly created 28,524 jobs and a total of 57,145 when accounting for related factors.
From financial tech leaders like Fireblocks to cybersecurity powerhouse Wiz, Israeli entrepreneurs have become indispensable to the innovation ecosystem. The number of Israeli-founded “unicorns,” privately held companies with a valuation of at least $1 billion, operating in New York City has quadrupled since 2019, increasing from five to 20.
Beyond its finances, New York City will not use a codified definition of antisemitism in evaluating complaints or incidents, according to administration officials. Instead, the Mayor’s Office to Combat Antisemitism, led by Phylisa Wisdom, will assess cases individually without relying on a fixed legal or policy definition.
“The first thing I’ll say is that across city government, there is not a definition codified for any form of hate at all,” Wisdom said on Wednesday while presiding over the City Council’s Task Force to Combat Antisemitism
The decision marks a departure from previous city policy, which had incorporated the International Holocaust Remembrance Alliance (IHRA) definition of antisemitism. The Mamdani administration revoked that standard when he entered office, arguing that rigid definitions can risk conflating criticism of Israel with antisemitism and may complicate the handling of politically sensitive speech.
IHRA — an intergovernmental organization comprising dozens of countries including the US and Israel — adopted the “working definition” of antisemitism in 2016. Since then, the definition has been widely accepted by Jewish groups and lawmakers across the political spectrum, and it is now used by hundreds of governing institutions, including the US State Department, European Union, and United Nations. Law enforcement also uses it as a tool for matters such as hate-crime investigations and sentencing.
According to the definition, antisemitism “is a certain perception of Jews, which may be expressed as hatred toward Jews. Rhetorical and physical manifestations of antisemitism are directed toward Jewish or non-Jewish individuals and/or their property, toward Jewish community institutions and religious facilities.” It provides 11 specific, contemporary examples of antisemitism in public life, the media, schools, the workplace, and in the religious sphere. Beyond classic antisemitic behavior associated with the likes of the medieval period and Nazi Germany, the examples include denial of the Holocaust and newer forms of antisemitism targeting Israel such as demonizing the Jewish state, denying its right to exist, and holding it to standards not expected of any other democratic state.
Critics say the absence of a clear definition could weaken enforcement and create inconsistency in how incidents are classified. Some lawmakers have pointed to recent public exchanges in which officials were unable or unwilling to clearly articulate what constitutes antisemitism under the city’s current framework.
The debate has intensified against the backdrop of a broader surge in antisemitic hate crimes in New York City. Advocacy groups and elected officials have raised concerns that the policy shift could make it harder to respond effectively at a time of heightened tension and increased reported incidents.
The majority of all hate crimes in New York City over the first three months of this year have targeted Jews, according to data released by the New York Police Department (NYPD).
“Confirmed hate crimes increased nearly 12 percent this quarter citywide. We continue to see that the vast majority of our hate crimes are antisemitic in nature,” NYPD Commissioner Jessica Tisch said earlier this month. “In fact, in the first quarter of 2026, more than half of all confirmed hate crimes, or 55 percent, were antisemitic, despite Jews only making up approximately 10 percent of the population of New York City.”
Mamdani took office on Jan. 1.
However, the surge in anti-Jewish hate crimes predated Mamdani.
Jews were targeted in the majority (54 percent) of all hate crimes perpetrated in New York City in 2024, according to data issued by the NYPD. A recent report released in December by the Mayor’s Office to Combat Antisemitism noted that figure rose to a staggering 62 percent in the first quarter of 2025, despite Jewish New Yorkers comprising a small minority of the city’s population.
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Israel-Lebanon Ceasefire Extended by Three Weeks, Trump Says
Smoke rises after an Israeli strike, amid escalating hostilities between Israel and Hezbollah, as the US-Israeli conflict with Iran continues, in southern Lebanon, March 24, 2026. Photo: REUTERS/Stringer
US President Donald Trump on Thursday said in a post on Truth Social the ceasefire between Israel and Lebanon will be extended by three weeks.
Trump posted on social media that he and several top officials in his administration met with Israeli and Lebanese representatives in the Oval Office.
“The Meeting went very well! The United States is going to work with Lebanon in order to help it protect itself from Hezbollah,” Trump said, referring to the Iran-backed Lebanese terrorist group which Israel was fighting before a temporary truce was reached earlier this month.
“The Ceasefire between Israel and Lebanon will be extended by THREE WEEKS,” the president added. “I look forward in the near future to hosting the Prime Minister of Israel, [Benjamin] Netanyahu, and the President of Lebanon, Joseph Aoun. It was a Great Honor to be a participant at this very Historic Meeting!”
The US-mediated ceasefire, which was set to expire on Sunday, has yielded a significant reduction in violence, but attacks have continued in southern Lebanon, where Israeli troops have seized a self-declared buffer zone.
Hezbollah says it has “the right to resist” occupying forces.
Wednesday marked Lebanon‘s deadliest day since the ceasefire took effect on April 16.
Hostilities between Hezbollah and Israel reignited on March 2, when the terrorist group opened fire in support of Tehran in the regional war. The ceasefire in Lebanon emerged separately from Washington’s efforts to resolve its conflict with Tehran, though Iran had called for Lebanon to be included in any broader truce.
Hezbollah said it carried out four operations in south Lebanon on Wednesday, saying they were a response to Israeli strikes.
Nearly 2,500 people have been killed in Lebanon since Israel went on the offensive in response to Hezbollah’s March 2 attack, according to Lebanese authorities. Israeli officials say the vast majority of those killed have been Hezbollah terrorists.
Israel is occupying a belt of the south that extends 5 to 10 km (3 to 6 miles) into Lebanon, saying it aims to shield northern Israel from attacks by Hezbollah, which has fired hundreds of rockets during the war.
The Lebanese government has opened direct contacts with Israel despite strong objections from Hezbollah, which was established by Iran’s Revolutionary Guards in 1982.
Lebanese President Joseph Aoun had said Beirut’s envoy to Thursday’s talks in Washington, Lebanese ambassador to the US Nada Moawad, would seek a ceasefire extension and a halt to demolitions being carried out by Israel in villages in the south.
A Lebanese official said Beirut wants a ceasefire extension as a prerequisite for talks to expand beyond the ambassadorial level to the next phase, in which Lebanon would push for an Israeli withdrawal, the return of Lebanese detained in Israel, and a delineation of the land border.
Israel says its objectives in the talks with Lebanon include securing the dismantlement of Hezbollah and creating conditions for a peace deal. Israel has sought to make common cause with the Lebanese government over Hezbollah, which Beirut has been seeking to disarm peacefully for the past year.
US Secretary of State Marco Rubio attend Thursday’s meeting along with Vice President JD Vance and the US ambassadors to Israel and Lebanon. Israel was represented by its ambassador to Washington, Yechiel Leiter.
Rubio hosted the first meeting between Leiter and Moawad on April 14 – the highest-level contact between Lebanon and Israel in decades.
Washington has denied any link between its Lebanon mediation and diplomacy over the Iran war.
Hezbollah says the Lebanon ceasefire was the result of Iranian pressure rather than US mediation.
Aoun has cited goals including halting Israeli attacks on Lebanon and securing the withdrawal of Israeli troops.
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Israel-Lebanon Ceasefire Extended by Three Weeks, Trump Says
Smoke rises after an Israeli strike, amid escalating hostilities between Israel and Hezbollah, as the US-Israeli conflict with Iran continues, in southern Lebanon, March 24, 2026. Photo: REUTERS/Stringer
U.S. President Donald Trump on Thursday said in a post on Truth Social the ceasefire between Israel and Lebanon will be extended by three weeks.
Trump posted on social media that he and several top officials in his administration met with Israeli and Lebanese representatives in the Oval Office.
“The Meeting went very well! The United States is going to work with Lebanon in order to help it protect itself from Hezbollah,” Trump said, referring to the Iran-backed Lebanese terrorist group which Israel was fighting before a temporary truce was reached earlier this month.
“The Ceasefire between Israel and Lebanon will be extended by THREE WEEKS,” the president added. “I look forward in the near future to hosting the Prime Minister of Israel, [Benjamin] Netanyahu, and the President of Lebanon, Joseph Aoun. It was a Great Honor to be a participant at this very Historic Meeting!”
The US-mediated ceasefire, which was set to expire on Sunday, has yielded a significant reduction in violence, but attacks have continued in southern Lebanon, where Israeli troops have seized a self-declared buffer zone.
Hezbollah says it has “the right to resist” occupying forces.
Wednesday marked Lebanon‘s deadliest day since the ceasefire took effect on April 16.
Hostilities between Hezbollah and Israel reignited on March 2, when the terrorist group opened fire in support of Tehran in the regional war. The ceasefire in Lebanon emerged separately from Washington’s efforts to resolve its conflict with Tehran, though Iran had called for Lebanon to be included in any broader truce.
Hezbollah said it carried out four operations in south Lebanon on Wednesday, saying they were a response to Israeli strikes.
Nearly 2,500 people have been killed in Lebanon since Israel went on the offensive in response to Hezbollah’s March 2 attack, according to Lebanese authorities. Israeli officials say the vast majority of those killed have been Hezbollah terrorists.
Israel is occupying a belt of the south that extends 5 to 10 km (3 to 6 miles) into Lebanon, saying it aims to shield northern Israel from attacks by Hezbollah, which has fired hundreds of rockets during the war.
The Lebanese government has opened direct contacts with Israel despite strong objections from Hezbollah, which was established by Iran’s Revolutionary Guards in 1982.
Lebanese President Joseph Aoun had said Beirut’s envoy to Thursday’s talks in Washington, Lebanese ambassador to the US Nada Moawad, would seek a ceasefire extension and a halt to demolitions being carried out by Israel in villages in the south.
A Lebanese official said Beirut wants a ceasefire extension as a prerequisite for talks to expand beyond the ambassadorial level to the next phase, in which Lebanon would push for an Israeli withdrawal, the return of Lebanese detained in Israel, and a delineation of the land border.
Israel says its objectives in the talks with Lebanon include securing the dismantlement of Hezbollah and creating conditions for a peace deal. Israel has sought to make common cause with the Lebanese government over Hezbollah, which Beirut has been seeking to disarm peacefully for the past year.
US Secretary of State Marco Rubio attend Thursday’s meeting along with Vice President JD Vance and the US ambassadors to Israel and Lebanon. Israel was represented by its ambassador to Washington, Yechiel Leiter.
Rubio hosted the first meeting between Leiter and Moawad on April 14 – the highest-level contact between Lebanon and Israel in decades.
Washington has denied any link between its Lebanon mediation and diplomacy over the Iran war.
Hezbollah says the Lebanon ceasefire was the result of Iranian pressure rather than US mediation.
Aoun has cited goals including halting Israeli attacks on Lebanon and securing the withdrawal of Israeli troops.