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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. 


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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5 important questions for Abdul El-Sayed

Abdul El-Sayed’s narrow victory in the Michigan Democratic primary means he’s going to have to work hard to persuade skeptical liberal Michigan voters.

I’m not from Michigan, but I am liberal. And I am skeptical.

I appreciate El-Sayed’s political skills and his relentless focus on the health and economic disparities that undermine the American dream for so many.

But while many Jewish Michiganders supported El-Sayed, his narrow victory over Rep. Haley Stevens has many other Michigan Democratic voters worried. It’s “ridiculous” that Democratic Jews wouldn’t vote for El-Sayed based on his positions on Israel, former Rep. Andy Levin told the Forward, but I’m not sure El-Sayed’s views on Israel are the main concern.

“If he wants to be senator of a state that has such a large Jewish population,” Halie Soifer, CEO of the Jewish Democratic Council of America, told JTA, “he must demonstrate an ability to stand with that community as we face the rise of antisemitism.”

Many of El-Sayed’s comments and actions during the primary cast that support into doubt.  Here are the five questions I’d like to see Michiganders put to him:

You said, “Hurt people hurt people.” Do you also believe that enraged people hurt people?

After a man whose family members were killed in an Israeli airstrike in Lebanon attacked children at a West Bloomfield, Michigan synagogue, you  said, “Hurt people hurt people.” You said you were explaining the act of terror, not excusing it. But we know too that incendiary rhetoric also foments violence. The Egyptian man who attacked Jews at a peaceful march in Boulder, Colorado, in June 2025 screamed anti-Israel political phrases and said he targeted the group because he believed they were “Zionists.” You have called Israel “evil” like Hamas, “bloodthirsty,” and you singled out AIPAC as uniquely nefarious and powerful among all influence groups in the country. Doesn’t such rhetoric endanger the lives of constituents you claim you want to protect? After extremists attempted to kidnap Michigan Gov. Gretchen Whitmer in 2020, you accused President Donald Trump of inciting them via tweet. Will you cool your own rhetoric?

Is there any circumstance you would vote to send military aid to Israel?

Oct. 7, 2023 was supposed to be an all-out war. Hamas along with Hezbollah in Lebanon, Iran and the Houthis discussed striking Israel in unison, and could have. In such a scenario, as in the October 1973 war, Israel would have faced many thousands of casualties if not an existential threat as it quickly exhausted its defensive shield. Now imagine you were in the Senate during such a scenario. Would you have voted to send help to an ally? You said you supported sending military aid to Ukraine when it faced invasion. Why not Israel in a similar scenario?  

How would you work toward a two-state solution?

You told CNN that every definition of a Jewish state “ends up in some articulation of illiberal values, every single one.” You told The New Yorker that you support a two-state solution with equal rights and self-determination for Israeli Jews and Palestinians — which is a mainstream liberal Zionist position. So explain: What’s so illiberal about a Jewish-majority state you support? And do you believe in it enough to work toward one?

Is money really the only reason politicians and others support Israel?

You accused Israel’s supporters in Congress of being motivated solely by money. Is there really no other possible reason? Until Israel’s post-Oct. 7 destruction of Gaza, a majority of Americans and the vast majority of American Jews supported Israel. Couldn’t congressional support reflect their constituents’ support or their own religious or political beliefs? Could they believe in Jewish self-determination, especially post-Holocaust? Or is support for a Jewish state only a function of Jewish money (see #1)?

Which do you care about more, the Jewish vote, or Hasan Piker?

The Twitch streamer Hasan Piker said Hamas is “a thousand times better” than Israel. He called a Jewish man a “bloodthirsty violent pig dog.” You defended your appearance with Piker by saying you needed to reach his three million followers. I get that: Hillary Clinton and Kamala Harris helped tank their campaigns by refusing to engage young voters wherever they could. But you continued to campaign with Piker, and refused to disavow his extreme rhetoric, saying you wouldn’t be distracted by “cancel culture.” No one is asking you to cancel him. But why won’t you, at least, confront him on his rhetoric?

There is, as you and countless pundits have pointed out, a lot at stake in this election. Right now too many American Jews feel that one of those things is their own safety. Please answer these questions, Dr. El-Sayed.

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The post 5 important questions for Abdul El-Sayed appeared first on The Forward.

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Sing to me, Muse, of two Moshes and their Odysseys!

If you have read any one of the at least 60 English translations of Homer’s Odyssey or have seen Christopher Nolan’s new Odyssey movie, then you are probably aware that Odysseus leads a more active life than the average person. As if living through the Trojan War weren’t hard enough, he blinds the cyclops Polyphemus and gets cursed by Poseidon with epically bad weather. His men are regularly transformed into pigs, picked off by Laestrygonian giants, and drowned in storms. The nymph Calypso detains him on her island for seven years and forces him to be her lover, (although whether this counts as a hardship depends on your perspective). The man of twists and turns has seen a lot. But he probably never predicted his story would be translated into Yiddish. Or Ladino.

At first, the parallel lives of the two men who translated The Odyssey into Yiddish and Ladino sound like the makings of a sphinx’s riddle, or a cryptic prophecy from the Oracle at Delphi: both men would be called “Moshe”; both would be alive at the beginning of the Holocaust; only one would survive to the end. Their names were Moshe Leyb Pitshenik (1895 – 1941) of the Odiseye (אָדיסייע) and Moshe Ha-Elion (1925-2022) of La Odisea.

The two men never met, yet there are unexpected rhymes between the lives of the Moshes, as if their lives were composed in the same meter. Not even a photo survives of scholar, writer and translator Moshe Leyb Pitshenik, but the Congress for Jewish Culture records that he was born in Zlotshev, eastern Galicia, now Ukraine. He spent his whole life traveling various pathways to erudition. As a child, he attended a religious elementary school and a small synagogue study hall before working as a bank employee in Vienna. The corporate life must not have been for Pitshenik, for he soon moved back to Poland and enrolled in a teachers’ seminary. He spent the rest of his life as a teacher and director at the local Jewish high school in Loyvitsh (Łowicz), writing ferociously on the side.

Moshe Leyb Pitshenik’s “Odiseye,” published in Warsaw in 1937. Courtesy of Yiddish Book Center

His poems, articles, short stories, and translations appeared in publications in Krakow, Warsaw, Łodz, and Vilna. Occasionally he would publish under pen names like “A Zaytiker,” an outsider, and “Nekhed Mohel,” which translates to “the grandson of the mohel (ritual circumciser),” but sounds suspiciously like something else.

In 1937, he pulled off his translational tour de force: the Odiseye, so literally epic an achievement that he won an award from the Yiddish PEN Club, the Yiddish branch of the PEN international network with epicenters in Warsaw, Vilnius and New York City. In the book’s introduction, fellow poet and translator Shloyme Shaynberg gave Pitshenik a hearty mazal tov for “anchoring one of Homer’s magical ships on our shores.”

But the time to celebrate ran short. Just two years after the Odiseye’s publication, the Nazis invaded Poland, confining Pitshenik and thousands of other Jews in the Łowicz ghetto. He had been working on an original epic poem in ancient Greek at the time of the invasion. Had he been allowed to finish it, the poem would have been the first original ancient Greek epic to be published since the 5th century C.E. In 1941, he was led into the Kazimierz Forest and murdered, leaving the poem unfinished.

Pitshenik was already 30 years old when Moshe Ha-Elion, his Sephardic counterpart, was born in Thessaloniki in 1925. Like Pitshenik, Ha-Elion studied at a Jewish primary school before receiving a secular education, discovering The Iliad and The Odyssey in ancient Greek during junior high. Ha-Elion was 16 when the Nazis invaded Thessaloniki, he recounts in his oral history for the United States Holocaust Museum. Two years later, in 1943, Ha-Elion and his mother, sister, and grandparents boarded freight wagons believing that they would be resettled in Poland. But these wagons were headed for Auschwitz. On arrival, every member of Ha-Elion’s immediate family was sent to the gas chambers but him.

For the next 21 months, Ha-Elion labored in Auschwitz. Teaching became his lifeline: He gave Greek lessons to a Christian prisoner with special privileges in exchange for food. In 1945, as the Allies approached, the Nazis transferred Ha-Elion and thousands of other prisoners to concentration camps in Austria. The hunger, Ha-Elion recalled later in an interview with El Mundo, was so unbearable that he ate train coal to survive.

After the liberation of the camps, Ha-Elion entered mandatory Palestine on a refugee ship. He fought in the 1948 Arab-Israeli War and earned a B.A. and an M.A. in Humanities at the University of Tel Aviv. Like Pitshenik, he spent the rest of his life stirring up a tornado of writing across genres: He wrote a memoir of his time in the camps, a book of autobiographical poems in Ladino entitled En Los Kampos de la Muerte, or In the Death Camps, and even music to accompany one of these poems, La Djovenika al Lager (The Young Girl in the Lager), about the murder of his sister Nina.

But it was not until the end of his life that Ha-Elion undertook his translation of The Odyssey. When Ha-Elion was 90, he and the Israeli poet Avner Peretz published a Hebrew and Ladino dual translation of The Odyssey. He even managed to keep the poem in dactylic hexameter, a line-for-line Ladino mirror of the ancient Greek epic.

There are strange reflections of each Moshe in the Odysseys that they translated. For Pitshenik, the story seems omen-like: In the poem’s first line, Pitshenik translates the first adjective to describe Odysseus, polútropon, as the Yiddish word farvoglt, or “far from home.” This is unusual. English translators usually style Odysseus as “cunning” or a “man of twists and turns” or just downright “complicated.” It is as if Pitshenik read the signs of his own coming displacement in Odysseus before he read them in himself. But the translation’s strange prescience deepens just a few words later. Odysseus, Pitshenik says, participated in the “khurboynes” of holy Troy. At the time Pitshenik wrote this, a “khurbn” meant a total, cataclysmic destruction. It was reserved to describe horrors like the destruction of the first and second Temples and pogroms in Russia during World War I. But Pitshenik could not have known then that the word “Khurbn” would one day be used as a metonym for the approaching Holocaust. In Pitshenik’s translation, far-from-home Odysseus would survive a “khurbn” and find his way back. But Pitshenik himself never did.

For Ha-Elion, The Odyssey is like another form of autobiography. Like Odysseus, he was flung far from home by war, and spent the rest of his life trying to find his way home — or some place that felt like it. If translation is the process of rendering something foreign into something familiar, then perhaps translation is an attempt at homecoming in itself. Pitshenik and Ha-Elion never returned to their homes again after the War. But in the Odiseye and La Odisea, a piece of home survives. And it sounds like this:

Kontame, Muza, del ombre astuto…

 

O Muze! Bazing mir di maysim fun farvogltn gvir… 

 

Sing to me of the man, Muse, the man of twists and turns!

The post Sing to me, Muse, of two Moshes and their Odysseys! appeared first on The Forward.

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‘Uncommitted’ founder who pushed Democrats to vote against Biden over Gaza wins primary

(JTA) — Abbas Alawieh, a founder of the Uncommitted movement that pressured former President Joe Biden to change his Israel policy, is the projected winner of a Democratic primary for Michigan’s state Senate.

Alawieh rose to national prominence as a key architect of the campaign to withhold votes from Biden during Michigan’s presidential primary in 2024, a protest against the administration’s support for Israel as it inflicted mounting casualties in Gaza.

Alawieh defeated state representative Erin Byrnes in Tuesday’s primary to represent Michigan’s 2nd Senate District, a heavily Arab-American area covering Dearborn and parts of Detroit — and the epicenter of the Uncommitted effort. He won 59% of the vote to Byrnes’ 41% after more than 95% of votes were counted, according to the Associated Press, and is now almost certain to win the solid-blue state Senate seat in November.

Alawieh, who was born in Lebanon and grew up in Dearborn, acknowledged his victory without giving a speech on Wednesday. His staff announced that Alawieh’s maternal grandfather, Hajj Kassem Bazzi, died Tuesday night as they awaited the election results.

“Please keep Abbas’s family in your prayers as they take needed time together,” Alawieh’s team said in a statement. “Abbas will share his own thoughts on the race soon. For now, thank you to every community that made this win possible.”

Alawieh was backed by Vermont Sen. Bernie Sanders and Michigan Gov. Gretchen Whitmer. He previously worked as a staffer for congressional Democrats, including Michigan Rep. Rashida Tlaib, former Michigan Rep. Andy Levin and former Missouri Rep. Cori Bush, who lost a primary against Rep. Wesley Bell on Tuesday.

Alawieh, alongside Layla Elabed, co-founded the campaign urging Michigan Democrats to vote “uncommitted” in the 2024 Democratic presidential primary. The movement attracted a groundswell of support, including from some Jews, and won more than 100,000 votes, or 13% of the overall vote. Biden was beaten by the uncommitted vote in Dearborn, where Arab Americans make up more than half the population.

The Uncommitted movement also spread to other states, rallying more than 650,000 voters nationwide, and crystallized a lack of enthusiasm for Biden, who eventually stepped off the presidential ticket.

Alawieh served as one of the Uncommitted delegates at the 2024 Democratic National Convention, where he and other delegates unsuccessfully lobbied to place a Palestinian speaker on the agenda.

Alawieh did not make Israel and Gaza a central part of his campaign for the state Senate seat, instead focusing on supporting working families and investing in healthcare, housing, public transit and education. Still, he told the Michigan Advance in February that his role in the Uncommitted movement resonated with people in his district.

“For the people in real life — not on Twitter — it is clear to them that parties’ focus on prioritizing funding for war crimes was out of touch with what voters wanted,” he said. “The party was undoubtedly wrong about Gaza in 2024.”

While some Democrats blamed the Uncommitted campaign for contributing to President Donald Trump’s defeat of former Vice President Kamala Harris, who lost Michigan in her 2024 presidential run, Alawieh and Harris have mended fences enough to recently sit down for a meeting.

Harris “initiated” the meeting after months of phone calls, Alawieh said in July. “I urge VP Harris and all of our party’s leaders to side with peace-loving Americans against endless wars, in opposition to the Israeli military’s genocide in Gaza, and against the ethnic cleansing campaign in Lebanon.” Alawieh has said that he voted for Harris against Trump in the 2024 general election, while Elabed did not.

The centrality of Israel in Michigan’s primaries has spawned bitter divides between Jewish Democrats and others in the party concerning the threat of antisemitism. In one incident that shook Detroit-area Jews earlier this year, Temple Israel in the suburb of West Bloomfield was rammed by a truck laden with explosives. The man who drove the truck, a U.S. citizen from Lebanon, had recently lost several family members in an Israeli airstrike on Lebanon.

Alawieh responded to the attack by declaring his support for Jewish Michiganders.

“We must stand in unequivocal defense of the humanity and safety of our Jewish siblings and denounce this heinous act,” he said in a statement. “My family and I are praying for safety for communities across our state who are feeling afraid right now, and we are holding our Jewish community members extra close.”

This article originally appeared on JTA.org.

The post ‘Uncommitted’ founder who pushed Democrats to vote against Biden over Gaza wins primary appeared first on The Forward.

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