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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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Erdogan Names Prosecutor Who Led Opposition Crackdown as Turkey Justice Minister
Turkish President Tayyip Erdogan speaks during a ceremony for the handover of new vehicles to the gendarmerie and police forces in Istanbul, Turkey, Nov. 28, 2025. Photo: REUTERS/Murad Sezer
Turkish President Tayyip Erdogan appointed as his new justice minister Akin Gurlek, the Istanbul chief prosecutor behind the unprecedented crackdown on the main opposition party, drawing fierce criticism and defiance from the party on Wednesday.
Since his appointment as chief prosecutor in 2024, Gurlek has overseen a wave of arrests and indictments targeting the Republican People’s Party (CHP), including investigations into the Istanbul mayor, Ekrem Imamoglu, Erdogan‘s main political rival who has been jailed since his arrest in March last year.
In a 4,000-page indictment last November, Gurlek demanded a prison sentence of more than 2,000 years for Imamoglu for allegedly leading a vast corruption network, sparking Turkey‘s largest street protests in a decade.
The first hearing in that case, accusing hundreds of defendants linked to the Istanbul municipality of corruption and bribery, will be held next month.
A scuffle broke out in Turkey‘s parliament ahead of Gurlek’s swearing-in after opposition lawmakers protested against his appointment.
Main opposition CHP deputies gathered around the speaker’s podium to block Gurlek, calling his nomination “an attack on the rule of law.” TV footage showed lawmakers pushing and throwing punches and ruling AK Party lawmakers forming a protective ring around Gurlek as he read his oath.
FIRST CABINET SHUFFLE SINCE 2023 VOTE
In the first cabinet shuffle since mid-2023 elections, Gurlek replaced Yilmaz Tunc, who was first elected as a member of parliament in 2007.
The Official Gazette announcement also said that Erdogan had appointed Erzurum provincial governor Mustafa Ciftci as interior minister, replacing Ali Yerlikaya, who was the Istanbul governor before his appointment as minister.
A reason for the shuffle was not given.
Hundreds of party members and elected officials have been detained in Gurlek’s crackdown, which has been criticized as anti-democratic and politicized by opposition parties, rights groups and some foreign leaders – claims the government denies, saying the judiciary is independent.
CHP leader Ozgur Ozel said Gurlek’s cabinet appointment continued a “judicial coup attempt” while he was prosecutor and amounted to the latest step in a major attack on his party.
“We will not surrender… They cannot stop our march to power,” Ozel told reporters at a memorial ceremony for a former party leader, adding that there was no fair political competition left.
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France to Increase Visas for Iranian Seeking Refuge Amid Crackdown, Minister Says
French Minister for Europe and Foreign Affairs Jean-Noel Barrot holds a press conference at the Pine Residence, the official residence of the French ambassador to Lebanon, in Beirut, Lebanon, Feb. 6, 2026. Photo: REUTERS/Mohamed Azakir
France will increase the number of visas for Iranians seeking asylum as a result of the recent crackdown by Iranian authorities, Foreign Minister Jean-Noel Barrot said on Wednesday.
Speaking in parliament, Barrot said Paris wanted to support the Iranian people by any means possible.
“In particular by welcoming opponents persecuted by the regime who are seeking asylum and refuge in France. We will increase our humanitarian visas for asylum purposes for these individuals whom we must protect,” he said.
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How Social Media Got Hamas Casualty Figures Wrong
A Palestinian man points a weapon in the air after it was announced that Israel and Hamas agreed on the first phase of a Gaza ceasefire, in the central Gaza Strip, October 9. Photo: REUTERS/Mahmoud Issa
As the Israel-Hamas ceasefire continues to hold, many analysts have begun examining available data to better understand Hamas’ casualties throughout the war. This is no easy feat, considering Hamas has consistently lied and inflated the civilian casualty figures. The reality of urban warfare provides other challenges for the IDF to count every eliminated terrorist.
Varying numbers regarding Hamas’ casualty figures have been recently touted on social media. But many of them lack sources, or a breakdown of the statistics.
Conversely, some analysts, such as HonestReporting board member Salo Aizenberg, have done an exceptional job at critically analyzing the available casualty numbers.
The Hamas-run Ministry of Health has reported over 70,000 deaths in Gaza, including civilians.
But closer examination of these numbers displays that it also includes an estimated 22,000-25,000 Hamas fighters, around 11,000 natural deaths, and 4,000 casualties caused by internal fighting amongst Gazans. With 1,000 deaths attributed to reporting errors, this suggests that 25,000 casualties were terrorists, and 36,000 were civilians.
One suggestion that has gained momentum on social media suggests that the actual number of Hamas casualties is double this number, at 50,000 combatant deaths.
However, pre-war estimates by the IDF suggest that Hamas had 35,000 combatants. US estimates believe that Hamas recruited 10,000-15,000 new combatants throughout the war. This means that if the IDF had killed 50,000 Hamas terrorists, there would be virtually no Hamas terrorists left — an analysis that is unfortunately not accurate.
Hamas had an estimated 50K combatants during the war (35K pre-war + 15K recruits). It is thus impossible that 50K have been killed. The best estimate remains about 25K combatants from all groups killed. The ME24 report misinterpreted what Hamas announced. https://t.co/LID34TpYAP
— Aizenberg (@Aizenberg55) February 9, 2026
The claim of 50,000 eliminated Hamas terrorists is based on an announcement by the Hamas-run Ministry of Social Development of the start of a new program that would provide NIS 500 to the widows of Gazans killed in the war.
By February 8, 2026, payments had been made to 19,306 widows, totaling NIS 9.653 million or over three million US dollars.
This claim, which is about a new Hamas-run Ministry of Social Development program is untrue on multiple levels — on figures, characterization, and comparison with the Hamas-run Gaza Health Ministry’s death toll. Short
to explain: https://t.co/KrAYiFvvBK
— Gabriel Epstein (@GabrielEpsteinX) February 8, 2026
The Ministry of Social Development further stated that 50,000 widowed families were set to receive these benefits, implying that more than widowed wives would be receiving the payments. This is likely where some analysts misinterpreted Hamas’ statement and took it to mean that for every Hamas terrorist, one wife would receive a payment. However, this payment is not exclusively for the wives of terrorists, and not every Hamas combatant would have been married by the time of his death.
What these numbers do suggest, however, is that claims of unreported casualties are likely to be false. The ability to receive a payment for reporting a death would presumably encourage many Gazans to submit claims of being widowed.
Since the early days of the war, news outlets and influencers on social media have blindly repeated Hamas’ claim that the majority of casualties were women and children. The claim implied that the IDF was specifically targeting both groups.
Beyond this claim not being true — men of combat age account for around 46.7% of total casualties — data from the World Health Organization (WHO) displays that 603,000 children under the age of 10 were vaccinated at the beginning of 2025. This number exceeds the pre-war population of that age group, indicating that the overall population of young children has remained stable or even grown despite the war.
The WHO—not Hamas or Israel—delivered one of the most decisive Gaza war data points. It reported 603,000 children under 10 vaccinated in early 2025—MORE than the pre-war population of that age group! Every claim of excessive or undercounted fatalities collapses with this data. pic.twitter.com/HmfRJuY1zT
— Aizenberg (@Aizenberg55) January 21, 2026
With births being the same as, if not higher than, pre-war numbers, the claims of underreported casualties and casualties disproportionately targeting children fall apart. Despite this data being publicly available and offering important information about the war’s human toll, it has received no attention in media coverage, allowing the misleading child casualty narrative to persist.
These two case studies of terrorist casualty statistics and the reported number of children under 10 during the war highlight the need to analyze all available data with scrutiny. It is not enough to rely on unverified claims about casualty figures. Instead, accurate conclusions must be based on transparent analysis conducted by credible analysts who rely on publicly available data, verifiable sources, and clear methodology. Only through rigorous examination can casualty figures be properly understood, rather than simply repeated without question.
The author is a contributor to HonestReporting, a Jerusalem-based media watchdog with a focus on antisemitism and anti-Israel bias — where a version of this article first appeared.