Texas state agencies divests $72 million from company that boycotts Israel

At least 26 states in recent years have passed similar laws punishing businesses that choose to boycott Israel.

By MARCY OSTER/JTA
April 17, 2019 05:18
1 minute read.
A woman holds a sign which reads "Boycott Israel" in front of symbolic coffins while attending a dem

A woman holds a sign which reads "Boycott Israel" in front of symbolic coffins while attending a demonstration supporting Palestine, in Berlin August 1, 2014. Israel launched its Gaza offensive on July 8 in response to a surge of rocket attacks by Gaza's dominant Hamas Islamists. Hamas said that Pal. (photo credit: REUTERS/STEFFI LOOS)

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analysis from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later



(JTA) — State agencies in Texas have started to divest some $72 million worth of stock in a company that boycotts Israel to comply with a 2017 law.

The measure bans the state from doing business with companies that observe the Boycott, Divestment and Sanctions movement against Israel.



Two state pension funds — the Employees Retirement System of Texas and Texas Permanent School Fund — own $68 million and $4 million, respectively, worth of stock in DNB ASA, a Norwegian financial services company, the San Antonio Express-News reported.



The company has denied it boycotts Israel.



There are four companies on the state comptroller’s blacklist of companies that boycott Israel, the newspaper reported. The companies all deny such a boycott.



The Employees Retirement System told the Express-News that as of early April it had divested about half of its holdings in DNB ASA and that divestment should be complete by June.



The Texas comptroller in March blacklisted Airbnb for its decision to remove listings of rooms and homes for rent in West Bank Jewish settlements. The company has since walked back its decision.



Earlier this month Texas lawmakers offered an amendment to the law to exempt individuals and businesses valued at less than $100,000 or employing fewer than 10 full-time employees from the ban. The amendment was in response to legal challenges.



At least 26 states in recent years have passed similar laws punishing businesses that choose to boycott Israel.

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

The Korean War Haggadah
April 19, 2019
1952 'Korean War Haggadah' acquired by National Library of Israel

By ROSSELLA TERCATIN