Uncategorized
The Sassoons are having a moment. Here’s why that matters.
(JTA) — The Sassoon family is having a moment. The Baghdadi Jewish dynasty that made its fortune in trade across the Indian subcontinent and East Asia is the subject of the current exhibit at the Jewish Museum in New York, titled “The Sassoons.” Joseph’s Sassoon’s book, “The Global Merchants: The Enterprise and Extravagance of the Sassoon Dynasty,” was published last year. Last month’s highly publicized auction of the Sassoon Codex for over $38 million focused attention on the Sassoon heir who once owned the 1,100-year-old Hebrew Bible. The Sassoon Family Archive at the National Library of Israel has been newly digitized.
The Sassoon dynasty is the epitome of the cosmopolitan transnational Jewish families I retrace in my book “Baghdadi Jewish Networks in the Age of Nationalism”: intrepid merchants who transcended empires, continents and cultures. Starting with David Sassoon (1792-1864), who left Baghdad in 1828, eventually settling in India, the Sassoon empire would, at its height, extend from China to England. The transnational networks they and their contemporaries established, tied together disparate Jewish communities and laid the foundation for present-day philanthropies dedicated to the plight of world Jewry.
The Sassoon family cannot be reduced to a stereotype of wealthy Jewish collectors who assimilated into European culture, nor can they be seen simply as “The Rothschilds of the East” — although they mingled with Rothschilds and held similar riches gained through business. They were their own phenomenon quite apart from the Rothschilds. Too often modern Jewish history is presented from an Ashkenormative (Eurocentric) perspective. Elevating the histories of families like the Sassoons and the communities who benefitted from their philanthropy, highlights the diversity and complexity of the modern Jewish experience.
The Jewish Museum exhibit is laden with dreamy family portraits by Thomas Gainsborough and John Singer Sargent and the 18th-century European art the family acquired. This might give the mistaken impression that the Sassoons abandoned Baghdad, adopted European social and cultural tastes and never looked back to the Middle East. Fortunately, this visual narrative is balanced by the manuscripts, marriage contracts and Judaica that speak to the family’s deep connections to the Middle East and their Jewishness. “The Sassoons” exhibit, with its comfortable and opulent objects, subtly raises awareness of the diversity of Jewish experience.
The late 19th and 20th century world of the Sassoons is, in short, a gateway to understanding the specifically dynamic transnational Jewish networks of modern Middle Eastern Jewish history. The exhibit offers hints of the Baghdadi heritage of the family and the cosmopolitan religious, business and philanthropic networks in which they participated. Examples include the beautiful silver tikim (Torah cases) and a haftarah scroll, both commissioned by Flora (in Arabic, Farha) Sassoon (1859-1936), who was born in India and later emigrated to England. Flora was admired for both her erudition and business acumen, and her commissions are vivid examples of her religiosity and her concomitant global network: The silver for the tikim was smithed in Shanghai and styled in a Middle Eastern motif; the scrolls were written by a sofer, or scribe, in Baghdad, and the whole Torah was assembled in her hometown of Mumbai. During Flora’s lifetime both Shanghai and Mumbai were important nodes in the Sassoon business empire, and as a result had small but flourishing Baghdadi Jewish communities beyond the Sassoon family itself.
Installation view of “The Sassoons” at the Jewish Museum, New York, March 3-Aug. 13, 2023. (Kris Graves)
Similarly, the manuscripts on display in the exhibit, many acquired by David Salomon Sassoon (1880-1942), Flora’s son, illustrate the family’s interests in multilingualism and their Jewish material heritage. David collected over 1,000 manuscripts, and many of the rarest pieces in his collection were acquired during his trips back to Iraq. His close connection to the Jewish community in Baghdad despite his birth in Mumbai and adulthood in Britain, his proficiency in Judeo-Arabic (that is, Arabic written in Hebrew script and inflected with Hebrew and Aramaic loan-words) and his fluency in Judeo-Baghdadi (the spoken dialect of Iraqi Jews) enabled the acquisition of these rare and varied manuscripts. While many of the pieces on display seem to speak to the”Europeanness” of the Sassoons, they also underscore that the Sassoons remained a part of Iraqi society, and that these two societies were not mutually exclusive.
The inclusion of a 1946 photograph (by Arthur Rothstein) of Jewish refugees reading a list of Holocaust survivors in the exhibit points to yet another critical role of the Sassoons as important philanthropists for Jewish transnational causes. By 1939 over 20,000 Jews fleeing Europe had found their way to one of the few locations that did not require a visa, Shanghai. Arriving with little means and few, if any, connections, they were welcomed by a well-established Baghdadi Jewish community for whom the Sassoons had been — throughout the 19th and 20th centuries — the primary contributors to Jewish life, endowing schools, synagogues, and charities there as they did across the Baghdadi diaspora and the Middle East itself.
Philanthropy and communal leadership are essential components of the Sassoon legacy, helping us see a broader community beyond the beautiful and durable objects which are easiest for curators to display and which attract visitors for their inherent qualities.
If you happen to be in New York before Aug. 13, visit the exhibit to luxuriate in the wonders of wealth and prestige which the Sassoon family possessed. While you are there, pay special attention to the dual cosmopolitan and communal approach to Jewish history that is exemplified by many of the pieces on display. View the many artifacts and documents as an invitation to explore the global cultural, economic and philanthropic contributions of Middle Eastern Jewry, an enduring and rich legacy of a remarkable family.
—
The post The Sassoons are having a moment. Here’s why that matters. appeared first on Jewish Telegraphic Agency.
Uncategorized
Somalia’s South West State Says It Has Severed Ties With the Federal Government
FILE PHOTO: Somalia’s presidential candidate of South West state Abdiaziz Hassan Mohamed speaks inside the Somali Parliament house in Mogadishu, Somalia April 30, 2018. Photo: REUTERS/Feisal Omar/File Photo
Somalia’s South West state said on Tuesday it was suspending all cooperation and relations with the government in Mogadishu, the latest sign of strain in the Horn of Africa country’s fragile federal system.
At a press conference, South West officials accused the federal government of arming militias and trying to unseat the state’s president, Abdiaziz Hassan Mohamed Laftagareen. Somalia’s defense and information ministers did not respond to Reuters’ requests for comment.
Disputes over constitutional changes, elections and the balance of power between Mogadishu and regional administrations repeatedly open up political fault lines in Somalia. The South West administration says relations with Mogadishu worsened after the federal government pushed through constitutional amendments opposed by some state leaders.
Travel agencies told Reuters on Tuesday that commercial flights between Mogadishu and Baidoa, the administrative capital of South West state, had been halted. Humanitarian flights, including for United Nations operations, were continuing. Baidoa, which lies about 245 km (150 miles) northwest of Mogadishu, is a politically and militarily sensitive city because it hosts federal troops, regional security forces and international humanitarian operations in a zone affected by drought, conflict and displacement.
The Mogadishu government’s relations with other states have also been fraught. Somaliland declared independence in 1991 and has long been outside Mogadishu’s control. The administration of semi-autonomous Puntland said in March 2024 it would no longer recognize the federal government until disputed constitutional amendments were approved in a nationwide referendum.
Semi-autonomous Jubbaland suspended ties with Mogadishu in November 2024 in a dispute over regional elections.
Uncategorized
Report: Iran Sees Control of Strait of Hormuz as Victory Over US, Israel
An LPG gas tanker at anchor as traffic is down in the Strait of Hormuz, amid the U.S.-Israeli conflict with Iran, in Shinas, Oman, March 11, 2026. Photo: REUTERS/Benoit Tessier/File Photo
i24 News – Iran is showing no indication it is ready to end the war with the United States and Israel, as officials say Tehran is relying on its control over the Strait of Hormuz to increase global economic pressure and strengthen its position.
According to regional officials cited by The Washington Post, Iran is rejecting diplomatic efforts to identify an off-ramp and instead escalating attacks on neighboring countries. An Iranian diplomat said the strategy is to “make this aggression super expensive for the aggressors,” as Tehran faces sustained military pressure.
The Strait of Hormuz remains central to Iran’s calculations. The waterway carries roughly one-fifth of global fuel shipments, and its partial closure has disrupted energy markets. US President Donald Trump issued a 48-hour deadline for Iran to reopen the route, warning of further escalation if it does not comply.
Iranian officials and diplomats said the leadership views its ability to maintain pressure through the strait as a short-term success, even as infrastructure damage mounts. “They don’t feel any pressure to negotiate,” one European diplomat based in the Gulf said, adding that Iran sees its influence over oil markets as a form of leverage.
At the same time, efforts to mediate a ceasefire have so far failed. Officials from Qatar and Oman approached Iran last week, but Tehran said it would only engage if US and Israeli strikes stopped first. An Iranian diplomat said the country would not accept a “premature ceasefire” and is seeking guarantees, including compensation and commitments to prevent future attacks.
The war has already caused significant damage. The Pentagon says more than 15,000 targets have been struck across Iran, while Iranian authorities report over 1,200 civilian deaths. The conflict has also expanded regionally, with Iranian strikes targeting energy infrastructure in Gulf states following attacks on its own facilities.
Despite mounting losses, analysts say Iran’s leadership believes prolonging the conflict could shift pressure onto Washington and its allies through rising energy prices and regional instability. “We’re still on an escalatory path,” said Alan Eyre, a former US official, adding that Tehran is attempting to “up the costs” rather than move toward negotiations.
Uncategorized
Persistent Iran War, Energy Price Surge Set to Sway Wavering Stocks
Stock ticker. Photo: Ahmad Ardity/Wikimedia Commons.
A Middle East crisis that has convulsed markets should remain the focal point for Wall Street in the near term, as investors stay glued to developments in Iran and the fallout from surging energy prices.
As the US-Israeli war on Iran stretches to three weeks, an over 40% jump in oil prices is driving worries about higher inflation and stagnating economic growth.
Inflationary concerns on Friday were prompting markets to rule out any equity-friendly interest rate cuts this year, which investors previously had been counting on, with futures trading instead suggesting modest chances of hikes in 2026. Federal Reserve Chair Jerome Powell expressed deep uncertainty at the US central bank’s meeting on Wednesday about how the crisis would factor into the economy, muddying its ability to forecast conditions ahead.
US stocks suffered sharp declines to end the week. The benchmark S&P 500 stock index posted its fourth straight weekly decline and hit a six-month low, while the Nasdaq Composite ended down nearly 10% below its October all-time high.
Middle East tensions escalated this week. Iran attacked energy facilities across the region following Israel’s strike on its gas field, while officials told Reuters on Friday that the US military is deploying thousands of Marines to the Middle East.
“This is a situation that’s so fluid,” said Chris Fasciano, chief market strategist at Commonwealth Financial Network. “We could have a resolution in the next week or it could go on for some time. And the longer it goes on, you start to think about the impacts it could have on the US economy.”
WATCHING OIL, STOCKS’ ‘ORDERLY’ REACTION
Swings in crude prices have rippled through asset classes. US crude settled around $98 a barrel on Friday, while Brent ended around $112. In addition to the attacks on energy infrastructure, traffic has stalled in the Strait of Hormuz, through which around a fifth of the world’s crude oil and liquefied natural gas normally passes.
The 20-day correlation between the S&P 500 and US crude stood at -0.89 late on Friday, according to LSEG data, a strong inverse relationship that showed they have tended to move in opposite directions.
“If you’re a trader, you watch oil prices because I do think that that’s generally giving the leading indicator as to how the financial markets are viewing the outlook for the conflict,” said Eric Kuby, chief investment officer at North Star Investment Management Corp.
The S&P 500 energy sector, which includes shares of oil companies, has gained since crude prices began to spike in late February, but the group accounts for less than a 4% weight in the benchmark index.
The latest declines left the S&P 500 down 6.8% from its record closing high set in late January. The pullback has mostly lacked the chaotic quality of the abrupt equity slide last April following President Donald Trump’s “Liberation Day” tariff announcement that set off broad economic worries, Fasciano said.
“This has been fairly orderly, which I think is an encouraging sign,” Fasciano said. “And I think it’s because the underlying fundamentals for corporate America are still fairly robust and are offering some support.”
TREASURY YIELDS, MARKET TECHNICALS ALSO IN FOCUS
Fast-climbing Treasury yields, driven higher by the energy price spike and caution from global central banks, were looming as a risk factor for stocks. The benchmark 10-year Treasury yield was last at 4.38% on Friday, its highest level since last summer.
Keith Lerner, chief investment officer at Truist Advisory Services, said he was watching whether the 10-year Treasury yield sustainably rises above 4.3%, which could increase pressure on stocks, while he was also eyeing 4.5% as a key level.
“Rates going higher means borrowing costs are somewhat higher. And then that could actually slow the economy,” Lerner said. “At some point, if they keep going higher, then the relative attractiveness of (bond) yields becomes more attractive relative to equities.”
Stocks were also around key technical levels. The S&P 500 on Thursday closed below its 200-day moving average — a closely watched long-term trendline — for the first time since May. With another decline on Friday, the index ended at its lowest point since September and fell below November lows that strategists had also identified as worrisome levels.
Reports on manufacturing, services activity and consumer sentiment highlight a relatively light week ahead for US economic data. A major energy conference in Houston that will feature top global industry executives could draw Wall Street’s attention.
Events in Iran were likely to loom largest. In a note on Thursday morning, analysts at UBS Global Wealth Management said the latest developments were “pushing markets to price in a higher risk of prolonged conflict, deeper infrastructure damage and higher-for-longer crude prices.”
“While a less damaging outcome in the Strait of Hormuz remains possible, recent events have narrowed that path and heightened the risk of continued volatility,” the UBS analysts said.