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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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Pope Leo Says Those Who Wage War Are Thieves Stealing Away Our Peaceful Future
Pope Leo XIV looks on as he meets with Catholic religious education teachers attending a national meeting organised by the Italian Bishops’ Conference (CEI), in the Paul VI Hall at the Vatican, April 25, 2026. Photo: REUTERS/Yara Nardi
Pope Leo on Sunday described those who wage wars and appropriate the earth’s resources as thieves who rob the world of a peaceful future, issuing a warning about the use of nuclear power on the anniversary of the Chernobyl reactor accident.
Ukraine is commemorating the 40th anniversary of the world’s worst nuclear disaster on Sunday amid lingering fears that Russia’s four-year-old war could spark a repeat of the tragedy.
In his weekly address after the Angelus prayer, the Pontiff said the Chernobyl accident had left a mark on humankind’s collective conscience.
“It remains a warning over the use of ever more powerful technologies,” the Pope, who has just returned from a 10-day tour across four African nations, said.
“I hope that at all decision-making levels, wisdom and responsibility always prevail, so that atomic power can always be used to support life and peace,” he added.
Commenting on the Gospel of the day, which contained the metaphor of a sheep thief, Pope Leo said thieves came under many appearances, listing as examples “superficial lifestyles driven by consumerism,” prejudices and wrong ideas.
“And let’s not forget also those thieves who, by plundering the earth’s resources, by fighting bloody wars or feeding evil in whichever form, are simply taking away from all of us the chance of a future of peace and serenity,” he added.
Leo, the first US pontiff, has attracted the ire of President Donald Trump after becoming more outspoken against war and despotism.
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UK’s Starmer and Trump Discuss ‘Urgent Need’ to Restore Shipping in Strait of Hormuz
British Prime Minister Keir Starmer and US President Donald Trump (not pictured) hold a bilateral meeting at Trump Turnberry golf course in Turnberry, Scotland, Britain, July 28, 2025. Photo: REUTERS/Evelyn Hockstein
British Prime Minister Keir Starmer and US President Donald Trump discussed the urgent need to get shipping moving again in the Strait of Hormuz during a call on Sunday, a Downing Street spokesperson said.
“The leaders discussed the urgent need to get shipping moving again in the Strait of Hormuz, given the severe consequences for the global economy and cost of living for people in the UK and globally,” the spokesperson for Starmer’s office said in a statement.
“The prime minister shared the latest progress on his joint initiative with President (Emmanuel) Macron to restore freedom of navigation,” the spokesperson added.
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Palestinian Leader’s Loyalists Win Local Elections, Including Some Seats in Gaza
A Palestinian man votes during the municipal election at a polling station in Deir al-Balah, central Gaza Strip April 25, 2026. Photo: REUTERS/Mahmoud Issa
Loyalists of President Mahmoud Abbas won most races in Palestinian municipal elections, election officials said on Sunday, in a vote that for the first time in nearly two decades included a city in the Gaza Strip run by rival Hamas.
Saturday’s ballot marked the first elections of any kind in Gaza since 2006 and the first Palestinian polls since the Gaza war began more than two years ago with Hamas’ cross‑border attack on southern Israel.
Abbas’ West Bank–based Palestinian Authority (PA) said the inclusion of the Gaza city Deir al‑Balah, which suffered less damage than other areas of the coastal territory during the war, was intended to show that Gaza was an inseparable part of a future Palestinian state.
The elections, in which voter turnout was low, had been held “at a highly sensitive moment amid complex challenges and exceptional circumstances,” Palestinian Prime Minister Mohammad Mustafa said as results were announced on Sunday.
But they represented “an important first step in a broader national process aimed at strengthening democratic life … and ultimately achieving the unity of the homeland,” he said.
POSSIBLE INDICATOR OF HAMAS SUPPORT
Hamas, which ousted the PA from Gaza in 2007, did not formally nominate candidates in Gaza and boycotted the race in the Israeli-occupied West Bank, where Fatah’s victory was widely expected.
But some candidates on one of the Deir al-Balah lists were widely seen by residents and analysts as aligned with the movement, making the vote a potential indicator of support for the Islamist group.
Preliminary results showed that the list, known as Deir al‑Balah Brings Us Together, won only two of the 15 seats contested in Gaza.
The Nahdat Deir al‑Balah list, backed by Abbas’ Fatah party and the Western-backed PA, secured six seats. The remaining seats were won by two other Gaza-based groups, Future of Deir al‑Balah and Peace and Building, not affiliated with either faction.
Abbas loyalists swept the election in the West Bank, running unchallenged in many seats.
Fatah spokesperson Abdul Fattah Dawla noted that turnout was close to that for the last municipal elections in the West Bank, in 2022, praising voters for participating despite ongoing violence by Israel.
“By electing figures linked to Fatah, voters appear to be seeking unrestricted international support for municipal governance and a gradual political shift that could extend beyond the local level,” said Palestinian political analyst Reham Ouda.
The recent war has left much of Gaza reduced to rubble, with many residents displaced and focused on survival. Israel has continued conducting strikes despite an October ceasefire.
In Gaza, voter turnout reached just 23 percent, while in the West Bank it was 56 percent, according to Chairman of the Central Elections Commission Rami al‑Hamdallah.
Al‑Hamdallah said some of the ballot boxes and voting equipment did not make it into the enclave because of Israeli security restrictions, though those challenges were overcome.
Hamas’ Gaza spokesperson, Hazem Qassem, downplayed the significance of the election results, saying that they had no impact on wider national issues.