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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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Most American Jews believe Zohran Mamdani will make NYC Jews less safe, Israeli poll finds

(JTA) — More than two-thirds of American Jews believe that New York City Mayor-elect Zohran Mamdani will make the city’s Jews less safe, according to a new survey by a nonpartisan Israeli research institute.

The finding came in the Jewish People Policy Institute’s latest Voice of the Jewish People Index, which surveyed 745 American Jews about a range of topics last month, just 10 days after Mamdani was elected. It offers the latest insight into Jewish sentiments about Mamdani, whose staunch criticism of Israel has drawn attention, and at times allegations of antisemitism, from Jews around the world.

The survey found that 67% of respondents believed Mamdani’s election would make New York City’s Jews less safe, while 6% believed they would be more safe and 18% believed he would make them neither more or less safe.

Among Jews identifying as politically conservative, 93% said they believed Mamdani would make New York City Jews less safe. Concerns were lower among liberal-leaning Jews, but still one third of respondents who identified as “strongly liberal” said they believed Mamdani would make Jews less safe.

Over half of respondents said they felt “worried” about the election of Mamdani, while 11% said they were “afraid.” Another 13% said they were “hopeful.”

A different poll in August found that 58% of Jewish New Yorkers believed the city would be less safe for Jews under Mamdani.

The Jewish People Policy Institute conducts regular surveys of Jewish sentiment, drawing on a pool of Jews who have agreed to be part of a survey pool. The institute notes that as a result, “the survey tends to reflect the attitudes of ‘connected’ American Jews, that is, those with a relatively strong attachment to the Jewish community and/or Israel and/or Jewish identity.”

It found that 70% of respondents identified as Zionist, while 12% identified as “not a Zionist, but a supporter of Zionism.” Additionally, 7% identified as “neither a supporter nor an opponent of Zionism,” 5% identified as a post-Zionist and 3% identified as an anti-Zionist.

Among strong liberal respondents, 52% identified as Zionists, while 79% of strong conservatives identified as Zionists.

Asked whether they believed that Zionism is racism, a charge frequently leveled by Israel’s critics, 59% of respondents said they believed that Zionism is “not at all racism.” Among strong liberal respondents, the proportion was 28%, compared to 86% of strong conservatives.

The survey also asked respondents about their perception of antisemitism coming from the political left and right in the United States. In recent months, calls to condemn right-wing antisemitism among Jewish conservatives have revealed growing rifts within the party.

Among the survey’s respondents, 62% said they were worried about antisemitism from both the left and the right, while 20% said they were more worried about antisemitism on the left and 17% were more worried about it on the right. Among strong liberals, just 5% were worried about antisemitism on the left while just 1% of conservatives were worried about antisemitism on the right.

The post Most American Jews believe Zohran Mamdani will make NYC Jews less safe, Israeli poll finds appeared first on The Forward.

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Palestinian restaurant opening near Columbia names its location to honor girl killed in Gaza, campus protesters

(JTA) — A Palestinian restaurant in New York City has named its new location “Hinds Hall” after the moniker pro-Palestinian protesters at Columbia University gave to a campus building they occupied last spring.

In a post on Instagram on Thursday, the restaurant, Ayat NYC, which has eight locations, announced that its new storefront in Morningside Heights would be renamed in solidarity with the protesters at Columbia.

“It stands right next to Columbia University where students stood up for Gaza and renamed Hamilton Hall, a campus building to Hinds Hall and we choose to stand with them and carry that name forward,” the post read.

Critics of Columbia’s pro-Palestinian protests at the time accused its participants of antisemitism and calling for violence against Jews. In June, a report by the Columbia University Task Force on Antisemitism found that over half of its Jewish student body had experienced discrimination and exclusion after Hamas’ Oct. 7, 2023, attack on Israel.

The new location for the restaurant, which is owned by restaurateur Abdul Elenani and his wife, Ayat Masoud, faced criticism from some of the neighborhood’s Jewish residents, who say they have been overwhelmed by pro-Palestinian symbols and sentiment since Columbia became an epicenter of the encampment movement last year.

Ayat wove pro-Palestinian advocacy into its practices throughout the war in Gaza. In January 2024, one of its locations drew a public outcry after its menu featured the phrase “From the River to the Sea,”  a phrase frequently used by pro-Palestinian activists that Jewish watchdogs view as a call for Israel’s destruction. Afterwards, the location hosted a free Shabbat dinner for over 1,300 people that drew anti-Zionist and pro-Palestinian Jews and others.

“Our restaurants will not only ever serve food. It will serve memory, truth, and responsibility,” the new post from Ayat NYC continued. “The least we can do is carry her name in our hearts and on our storefront so that everyone who walks by knows that Hind mattered and every single child matters.”

The location’s name, which was also adopted in a song by rapper Macklemore, pays homage to Hind Rajab, a 6-year-old Palestinian girl who was killed in Gaza in January 2024. (The Israeli military denied responsibility for her death, but a Washington Post investigation found that Israeli armored vehicles were present in the area.)

Her heavily publicized death, and the phone call she made to paramedics with the Palestine Red Crescent Society while stranded in a vehicle, also inspired the docudrama “The Voice of Hind Rajab,” which won a top prize at the Venice Film Festival in September.

“Her name carries the weight of all the children whose voices were silenced and whose blood was treated like it meant nothing,” the post by Ayat NYC continued.

An opening date has not yet been set for the Upper West Side location. A new location opened in late October in Astoria, the Queens neighborhood that is home to Mayor-elect Zohran Mamdani and home to a thriving pro-Palestinian activist community.

The post Palestinian restaurant opening near Columbia names its location to honor girl killed in Gaza, campus protesters appeared first on The Forward.

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NC activists claimed ‘victory’ in their Israel-divestment push. The state treasury says they’re wrong.

(JTA) — Earlier this week, several pro-Palestinian groups in North Carolina touted the state pension fund’s sale of $6.7 million in Israeli government bonds as a “victory.”

But despite the groups’ claims, the North Carolina Department of State Treasurer said that the sale had nothing to do with “divestment” but was simply a part of a routine portfolio rebalance.

“The sale of two Israel Government International bonds was not related to a divestment exercise,” the North Carolina Department of State Treasurer said in a statement to the Jewish Telegraphic Agency. “The previously held bonds were sold in October during a larger fixed income portfolio rebalancing exercise that sold bonds with shorter remaining maturity than the portfolio typically holds.”

The activists had hailed the sale as a win for the boycott Israel movement.

“VICTORY: NC DIVESTS FROM ISRAEL!! Genocide and apartheid are a bad investment,” wrote the Jewish Voice for Peace chapter of Triangle North Carolina in a post on Instagram, adding that the sale was a result of a “powerful campaign” supported by over 40 local organizations.

The JVP chapter had joined with several other groups, including Muslims for Social Justice and Jewish Voice for Peace Charlotte, to form Break the Bonds North Carolina Coalition, a campaign advocating for divestment. Similar campaigns have long lobbied treasury officials in other places.

But the likelihood that officials in North Carolina would pass BDS measures appeared unlikely. In 2017, the state’s governor signed into law a bill that banned state agencies from doing business with companies that boycott Israel. The elected state treasurer, Brad Briner, is a Republican, as is the majority of the legislature. The governor, meanwhile, is a moderate Jewish Democrat who has never made Israel a centerpiece of his politics.

Still, anti-Israel sentiment that has surged among Democrats have made an impact on the state. In June, the North Carolina Democratic Party passed a resolution calling for the United States to implement an immediate arms embargo on Israel. And in August, the Democratic Rep. Valerie Foushee announced that she “will not accept” donations for the 2026 elections from the pro-Israel lobby AIPAC.

Last month, on Oct. 29, Break the Bonds gathered outside the State Treasurer’s Office to deliver a petition with 4,600 signatories and called on the state to divest the Israeli bonds held in its pension fund.

“The people of North Carolina do not want a retirement fund invested in genocide, occupation, and apartheid,” the petition read. “We demand that our savings be used to make our communities stronger and healthier, not to fund crimes against humanity abroad.”

But while a press release from JVP cited the petition as part of its efforts to pressure the state to divest, the treasury said that its “rebalancing exercise took place before Break the Bonds NC Coalition presented its petition to our department.”

The treasurer also added that as of the end of October, it still held some Israeli bonds within its broader investments.

The discrepancy between the group’s celebratory tone and the treasury’s explanation was not the first time that a Boycott, Divestment, and Sanctions effort elicited a conflicting response.

In April 2024, anti-Zionist activists at Pitzer College in California, including the local JVP chapter, claimed victory after the school announced it would no longer pre-approve students to study abroad at Haifa University. The school later said the decision had come from waning student interest, not a principled objection.

A similar episode also occurred this month in Minnesota, where pro-Palestinian advocates claimed they had successfully pressured the State Board of Investment to divest from Israeli bonds.

Despite the statements from the groups, which included MN BDS Community and the Anti-War Committee, the state board told TCJewfolk that the sale of some Israeli bonds was a fiscal choice.

“Contrary to statements from the organization referenced in your inquiry, the Minnesota State Board of Investment (SBI) has not changed its investment policy regarding permitted investments,” the SBI told TCJewfolk. “The SBI hires professional, third-party institutional investment managers to make investment decisions at the individual security level. These holdings are not static.”

The status of Israel bonds in New York City offers another glimpse at the complicated politics of the contested holdings. This year, Comptroller Brad Lander, a progressive, declined to reinvest Israel bonds that matured, giving anti-Israel activists a sense of the victory. But the city remains invested in Israeli assets, and activists there are continuing to push for divestment — which the mayor-elect, Zohran Mamdani, favors and the comptroller-elect, Mark Levine, says he does not plan to do.

In a press release Tuesday, JVP said that the sale in North Carolina came shortly after “Minnesota and Michigan announced their decisions not to re-invest.

Reached for comment by the Jewish Telegraphic Agency, Ari Rosenberg, a member of Jewish Voice for Peace Triangle and the Break the Bonds NC Coalition, said the state’s decision “represents the power of people’s voices from across the state — including public sector workers — who had been calling attention to these problematic investments for nearly a year.”

“For months, we met with the Treasurer’s office, gathered 5,000 signatures from concerned citizens, and rallied with state pension fund recipients and community members to deliver our petition and our message,” Rosenberg said in an emailed statement. “The Treasurer’s decision makes it clear that our voices were heard.”

The post NC activists claimed ‘victory’ in their Israel-divestment push. The state treasury says they’re wrong. appeared first on The Forward.

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