Connect with us
The Residences advertisement

Uncategorized

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. 

—
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.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Uncategorized

DSA racks up wins in Congress as Democratic party shifts on Israel

The Democratic Socialists of America is expected to grow its influence within the Democratic Party’s progressive wing, picking up at least five seats in the House, according to unofficial election results on Tuesday night. The gains mark major progress for the organization that is credited with the rise of New York City Mayor Zohran Mamdani, a fierce critic of Israel.

Before Tuesday night, the organization had just two members in Congress: Reps. Alexandria Ocasio-Cortez of New York and Rashida Tlaib of Michigan. Both are members of the Squad, the group of young, outspoken progressives formed in 2018 that challenged the party’s establishment and criticized U.S. support for Israel.

DSA members Chris Rabb, Donavan McKinney, Darializa Avila Chevalier, Claire Valdez and Melat Kiros were projected to win their House seats Tuesday night, preliminary election returns show.

A larger DSA caucus could give progressive Democrats greater leverage to pressure leadership into holding votes on Israel policy, an issue that has divided the party since Oct. 7, 2023 and the subsequent war in Gaza, with intensifying concern over the war with Iran. The DSA gained influence during a period when Democrats had little power, as the minority in both the House and Senate, to shape the foreign policy of the United States. Regaining control of the House, and potentially the Senate, those divisions will become much harder for party leaders to avoid.

All of the DSA members heading to Congress have described Israel’s conduct in Gaza as a genocide and support cutting off military aid to Israel — positions increasingly held by Democrats outside the DSA as well.

President Trump announced Tuesday that the U.S. will end nearly $4 billion in annual military aid to Israel by the end of the year, while still allowing Israel to buy U.S. weapons. But the national DSA goes further, leading a campaign for a U.S. arms embargo on Israel and passing a 2025 resolution explicitly opposing Zionism.

The victories follow a string of DSA wins over longtime incumbents during the Democratic primaries, buoyed by the victory of Zohran Mamdani as New York City mayor last June. Two of the DSA candidates that Mamdani endorsed, Avila Chevalier and Valdez, cruised to victory in their heavily blue New York City districts.

Avila Chevalier is a former Columbia University Gaza War encampment activist who has repeatedly defended her attendance at a pro-Palestinian rally on Oct. 8, 2023.

Rabb in Philadelphia; McKinney in Detroit, Michigan; and Kiros in Boulder also won comfortably in their heavily blue districts.

Kiros drew condemnation from some Colorado Jews after declining to call the 2025 firebombing of a walk for Gaza hostages in Boulder antisemitic, instead calling it a “political attack” targeting Zionism. The attacker was heard yelling “Free Palestine” as he threw Molotov cocktails, injuring 13 people, including an 82-year-old woman who later died from her injuries.

In California, DSA candidates faced tighter races in the general election, facing off against Democratic incumbents. The nail-biter races were the result of California’s unique primary process, where the top two candidates advance to the general election regardless of party. Several key California races were still too early to call, including two House races featuring DSA candidates and the Los Angeles mayoral election featuring DSA candidate Nithya Raman.

Two other DSA mayoral candidates won Tuesday night, David Morales in Providence, Rhode Island, and Janeese Lewis George in Washington, D.C.

But the DSA did not win everywhere. In Florida, Republican incumbent Ashley Moody defeated DSA member Angie Nixon Tuesday night, early results show.

Had Nixon won, she would have become the first DSA member in the U.S. Senate. (While Sen. Bernie Sanders has long identified as a democratic socialist, he is not an official DSA member.)

But Moody was widely expected to win the race, leading Nixon by an average of 6 percentage points in polls.

The post DSA racks up wins in Congress as Democratic party shifts on Israel appeared first on The Forward.

Continue Reading

Uncategorized

This Georgia Democrat stood by Israel and criticized her party. She is expected to win another term.

Esther Panitch spent Tuesday evening the way she spends every election night since holding office: on her couch at home in an Atlanta suburb, watching The Campaign, the 2012 comedy in which Will Ferrell and Zach Galifianakis play rival candidates for Congress who will stoop to anything to win.

It looks likely that the Georgia Democrat will have a third term in the state Georgia House of Representatives, where Panitch has been the only Jewish member since 2023. With 72% of precincts reporting, she is leading 67%-33% over her Republican challenger, Keith Gettmann. She may be joined in the state legislature by some additional Jewish members after Tuesday night’s vote.

Panitch is a pro-Israel Democrat in a party where support for Israel is increasingly contested. She has built her time in office on issues around antisemitism and Holocaust education, and she has criticized her own senator, Jon Ossoff, in public over Israel. Ossoff endorsed her this fall anyway.

Panitch has been warning for years that her party is drifting away from Israel, and she said she’s grateful Georgia’s Democratic leaders haven’t gone along. This summer she felt the pull at home. A local Democratic youth group told her to “mind her own business” after she asked a county party to move a fundraiser from Rosh Hashanah to another date. The Jewish Council of the Democratic Party of Georgia, where she’s first vice chair, condemned the group, and Panitch says the state and county parties did too.

She also survived a primary challenge from her left this spring. Aaron Baker, a fellow Jewish Democrat and member of the Democratic Socialists of America, called her a “DINO,” or Democrat in name only. Panitch won by a 13% margin.

Her complaint about Ossoff goes back to 2024, when he voted for resolutions to block some U.S. weapons shipments to Israel, and Panitch criticized him publicly at the time. But she still voted for him in the midterms. “I’m not going to bite my nose to spite my face,” she said.

Ossoff’s Republican opponent, Rep. Mike Collins, is a “non-starter,” she said. Collins has faced scrutiny over a son-in-law who posted antisemitic videos and a former staffer who posted Nazi imagery. He has said he doesn’t share those views. Ossoff was reelected Tuesday.

Sen. Jon Ossoff, at a campaign event in Atlanta on May 31, 2026.
Sen. Jon Ossoff at a campaign event in Atlanta on May 31, 2026. Photo by Ben Hendren/Bloomberg via Getty Images

Laws she’s passed

Much of Panitch’s record in office has been a response to Hamas’ attack on Israel on Oct. 7, 2023. Georgia already had a hate crime law, she said, but it didn’t define antisemitism. She co-sponsored the bill that did — adopting a widely used, though controversial, definition — which the governor signed into law. She had been arguing for it before Oct. 7, but her colleagues, she said, “really couldn’t understand that until they saw it on Oct. 8.”

This past session, she co-sponsored a first-in-the-nation measure requiring public schools to disclose foreign funding, which she said grew out of research showing Qatar had funded Fulton County Public Schools and Georgia State University. She also backed a requirement that the state monitor complaints of antisemitism and other discrimination, from public schools through colleges. Previously, she said, parents had complained about incidents, but whether anything happened depended on the principal. A separate bill she led, creating one-stop family justice centers for victims of domestic violence and trafficking, passed unanimously and was signed into law.

The monitoring requirement puts her in the middle of the debate over where criticism of Israel ends and antisemitism begins. Asked whether she considers anti-Zionism antisemitism, Panitch said, “Not all of it. But there’s enough crossover that any of it should be examined.” Her line is a legal one. “They can hate Israel and Jews all they want,” she said. The issue is “if they commit a crime because of it.”

A tree for every critic

She’s also been targeted. On the morning the antisemitism bill was signed into law in January 2024, she discovered a threatening postcard in her mailbox containing antisemitic slurs, including a reference to “gassing the Jews.” A local rabbi who had backed the bill received a similar postcard. The man who sent the cards, Ariel Collazo Ramos, was convicted last fall and sentenced in February to five years in prison, the maximum. Panitch testified at his trial and sentencing.

“Jews have a right to participate in civic life in the United States, just as any other American,” she said, “and I’m not going to allow anybody to stop that.”

She has a lighter response to online critics. In 2024, she was at the University of Georgia for Israel Week, walking a student in a yarmulke to another building so he wouldn’t be alone, when protesters followed and chanted at her. “Esther, Esther, you can’t hide,” she recalled. “We charge you with genocide.”

Her response: Donate a Jewish National Fund tree in Israel in the name of the university’s chapter of Students for Justice in Palestine, and post the receipt online. She has since sent trees in the names of individual trolls and other pro-Palestinian activists. “Okay, you get a tree! You get a tree!” she recalled in her best Oprah Winfrey impersonation. The harassment, she said, “really stopped bothering me after that.”

Her Jewish roots

Panitch grew up in a Jewish household in Miami, where she went to a JCC day camp and later spent a couple of summers at Camp Ramah in Massachusetts. She’s a lifelong member of Hadassah, the third generation of her family in the organization. Her daughter is the fourth. She met her husband on a 1997 trip to Israel organized by the Jewish Federation of Miami, and they married the next year. Their three children went through Camp Judaea in North Carolina.

This summer she toured Auschwitz-Birkenau, Majdanek and Treblinka with a group of teachers on a trip to concentration camps in Poland. They also visited Kielce, a city where survivors who had returned after the war were attacked by a mob in 1946 after a rumor that a Christian boy had been kidnapped. Dozens of Jews were killed.

What stunned her was how deep the roots went. “Jews had been there for 1,000 years before the war,” she said, “and were turned on in the blink of an eye. They were always othered, so I’m not going to allow that to happen in my country.”

She wants to bring that message home. Panitch is a legislative liaison for the Georgia Commission on the Holocaust and plans to push mandatory Holocaust education in her next term, especially given foreign money she believes has been used to create anti-Israel sentiment.

“I want to be able to show students what happens when mobs go after Jews, which is what is starting to happen now,” she said. “Everybody needs to know their history, Jews and non-Jews, and the ugly parts too, because we have to figure out how not to repeat them.”

Criticize Israel as much as you want, she said, but when it’s singled out for criticism “that they wouldn’t hold any other place to,” it can cross into antisemitism. “The result of antisemitism, unchecked, turns into atrocities.”

The post This Georgia Democrat stood by Israel and criticized her party. She is expected to win another term. appeared first on The Forward.

Continue Reading

Uncategorized

Republican Israel supporter Ashley Moody projected to beat DSA candidate Angie Nixon

(JTA) — Republican Sen. Ashley Moody, a supporter of Israel, is projected to beat Angie Nixon, a Democratic Socialist of America member, in a special election on Tuesday that could help determine which party controls the U.S. Senate.

With 96% of the vote counted, Moody won by a 2.7 percentage points. according to Associated Press.

The incumbent, Moody, was formerly the state attorney general, and was appointed to the Senate by Gov. Ron DeSantis in January 2025 after Marco Rubio vacated the seat to become secretary of state.

She was endorsed by the pro-Israel lobbying group AIPAC and President Donald Trump. She is a staunch supporter of Israel who has said she wants the U.S. to be “the most pro-Israel country in the world.” She also said that she “worked to make Florida the most pro-Israel state in the nation” as attorney general.

She has been critical of pro-Palestinian campus protests, and introduced a bill last year that would “claw back federal funds” when universities “violate students’ civil rights.” Too many “woke schools prioritize support for Hamas over their duty to protect the civil rights of ALL students,” she added.

Moody supported Trump and Rubio’s move to deport green card holders for their activism last year. “It is time for Hamas agitators to go,” she wrote.

Nixon is a progressive state legislator, with a campaign focused on universal healthcare and free childcare. She became a DSA member this year, but was not endorsed by the left-wing political organization. She did draw endorsements from a number of major progressive figures and campaigned alongside Vermont independent Bernie Sanders and former President Barack Obama.

She accuses Israel of committing a genocide in Gaza and opposes sending military aid or American weapons to Israel “at this moment.” In November 2023, she introduced a statewide bill advocating for “de-escalation and cease-fire in the state of Israel and occupied Palestine,” which was defeated 104-2 in the Florida House. She has condemned Hamas and the “violent terrorist attacks” that it committed in Israel on Oct. 7, 2023.

Nixon’s Israel stance raised questions over whether it would affect her performance among the state’s substantial Jewish minority. Some Jewish Democrats and independents in the state said they were hung up on her Israel views, while others said they are counting on the Democrats flipping the Senate and that Nixon has toned down her harsher talk about Israel.

The post Republican Israel supporter Ashley Moody projected to beat DSA candidate Angie Nixon appeared first on The Forward.

Continue Reading

Copyright © 2017 - 2023 Jewish Post & News