Invoking King David, Rupert Murdoch Praises Israel and its Economy (PHOTOS)

September 11, 2012 12:06 pm 1 comment

News Corporation Chairman and CEO Rupert Murdoch at 2012 Innovate. Invest. Israel. Conference. Photo: Israel Ministry of Finance.

Speaking at a conference in New York on Monday, News Corporation’s Chairman and Chief Executive Rupert Murdoch praised Israel’s economy and stood behind Jerusalem as the capital of Israel.

“What differentiates Israel from other countries is the creativity,” Murdoch said in his speech, which opened the Innovate. Invest. Israel. Conference.  “Israel is successful because it is one of several countries whose economy revolves around the human mind and it is really a light unto the nations. Bear in mind that everything that happens in Israel happens despite all the threats to the country”.

The one day conference was a collaborative effort between the Wall Street Journal, which is published by Dow Jones & Company, a division of Murdoch’s News Corporation, and Israel’s Ministry of Finance.  While praising the Israeli economy’s recent success, which includes a return to unemployment levels seen before the global financial crisis of 2008, Murdoch backed Jerusalem as the unequivocal capital of the state of Israel.

“As far as I’m concerned, what was right for King David is right for me. Therefore, to me, Jerusalem is the capital of the State of Israel,” said Murdoch.

Then, in a nod to one of Israel’s most vital energy and security projects in the country’s history, Murdoch noted the widely held assumption that Israel’s land lacks the valuable natural resources of its neighbors in the Middle East, has been proven incorrect.

“Usually we invest in assets that generate the best returns and Israel is too good for investors to ignore it. We once thought that God chose a Holy Land without any oil or natural resources, but recent years have shown that Israel has incredible resources with enormous oil and gas reserves.”

To view photos of the conference, scroll down.

News Corporation Chairman and CEO Rupert Murdoch (left) with Israel's Finance Minister (top-left) at the 2012 Innovate. Invest. Israel. Conference. Photo: Israel Ministry of Finance.

Yuval Steinitz, Israel's Finance Minister at 2012 Innovate. Invest. Israel. Conference. Photo: Israel's Ministry of Finance.

News Corporation Chairman and CEO Rupert Murdoch (top-right) with Israel's Finance Minister (top-left) at the 2012 Innovate. Invest. Israel. Conference. Photo: Israel Ministry of Finance.

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