Subscribe to Print Edition | Tue., November 18, 2008 Cheshvan 20, 5769 | | Israel Time: 23:33 (EST+7)
Haaretz israel news English
web haaretz.com
Haaretz Toolbar
Diplomacy
Defense Jewish World Opinion National
Print Edition
Car Rental
Books Haaretz Magazine Business Real Estate GA 2008 Travel Week's End Anglo File
Comments:  2
Last update - 17:37 18/11/2008
Plagued by staggering debts, Israeli tycoons struggle to keep companies afloat
By Haaretz Staff and Channel 10
Tags: Lev Leviev, Israel News 
Haaretz.com/Channel 10 daily feature for November 17, 2008.

The global economic crisis has threatened many fortunes around the world. In Israel in particular, the value of the holdings of two big-name tycoons have been falling so dramatically that experts fear they won't be able to recover.

Billionaires Yitzhak Tshuva and Lev Leviev, who own Delek Group and Africa Israel, both have debts totaling tens of millions of shekels. It's unclear whether their assets exceed those debts.
Advertisement

The deteriorating value of Leviev and Tshuva's companies has been brought on by the sharp downturn their stocks have taken amid plummeting shareholder confidence. Africa Israel's value has dropped by 92 percent since the start of 2008, wiping out 17 billion shekels of its value. Tshuva's Delek Group fell 8.5 percent in the same time period.


Related articles:
  • Tel Aviv stock market falls back to 2005 levels
  • Israel's business barons lost NIS 60b over last seven months
  • How Dankner and Tshuva lost $810 million in Las Vegas

    Also on Haaretz.com TV:
  • IDF soldier, Sudanese refugee recount Egyptian brutality toward migrants
  • Online show produced by J'lem yeshiva students all the rage among religious kids
  • Construction of Negev missile defense base run by U.S. troops completed

    For more video news and features, visit Haaretz.com TV.
    • Bookmark to del.icio.us  
     
    Iran arrests blogger
    Hossein Derakhshan admitted to spying for Israel, claims Iranian Web site.
    Peace through sport
    Jewish and Arab youngsters are finding common ground through Hand in Hand.
      1.   Israeli Tycoons struggling to keep companies afloat 20:55  |  Millicent 18/11/08
      2.   Maybe should 85% not 8.5% 22:47  |  HS 18/11/08
     Read & React
    MI Chief: U.S. can halt Iran nukes via dialogue
    Responses: 46
    Report: Abbas asked Olmert to free Barghouti as goodwill gesture
    Responses: 45
    Fayyad: Settlement building will destroy the peace process
    Responses: 28
    Peres: Syria knows benefits of peace deal with Israel
    Responses: 41


    More Headlines
    20:06 Iran aims to launch nuclear plant in 2009
    21:43 Israel outraged at UN remarks urging end to Gaza blockade
    21:18 Iranian blogger who visited Israel arrested for spying
    22:28 Alperon's sister: Whoever killed Ya'akov, the same will be done to his children
    22:43 Peres in U.K.: Syria knows the benefits of a peace deal with Israel
    23:14 U.S. paper: War on terror must include war on terrorists' cash
    23:18 Palestinian, Israeli kids find peace on basketball court
    18:53 Abbas said to ask Olmert to free Barghouti as goodwill gesture
    18:53 Report: Suspected Lebanon spy made frequent visits to Israel
    18:53 MI Chief: U.S. can halt Iran nuclear program with dialogue
    18:53 IDF Home Front links Ashdod up to rocket-warning system
    18:53 Egyptian court bans natural gas exports to Israel
    19:44 Haredi man jailed for causing death of infant son
    18:53 Israeli diamond trader murdered in Johannesburg
    18:53 Palestinian PM: Settlement building will destroy peace process
    Previous Editions
    Special Offers
    Advertisement
    Living in Israel Studying in English
    Click & Meet our students from all around the world
    Dan Boutique Jerusalem
    New Dan Hotel in Jerusalem Young, Fun & Distinctively Dan Book Now Online!
    Fattal Hotel Chain
    Perfectly located hotels on best resorts of Israel.
    Car rental in Israel
    Shlomo Sixt Receive $15.00 from our low rates.
    Dial 013 for your long-distance calls
    and get all your money back
    US CITIZENS
    Vote for real change. Request your ballot today!
    Eldan Rent a Car
    Israel's leading car rental company offers you a 20% discount on all online reservations
    Jewish Singles Personal Ads
    Find the love of your life on JDate.com
    Israel's Premier Real Estate Website
    www. israel-property.com
    Hebrew Summer courses
    From $39.95
    Junkyard
    Junk a car - get free towing nationwide and a tax-deductible receipt
    Home | TV | Print Edition | Diplomacy | Opinion | Arts & Leisure | Sports | Jewish World | Underground | Site rules |
    Real Estate in Israel | Travel to Israel with Haaretz | Hotels Israel | Restaurants Israel | Tourist attractions Israel | Shops Israel
    birthright Israel | Search engine marketing
    Haaretz.com, the online edition of Haaretz Newspaper in Israel, offers real-time breaking news, opinions and analysis from Israel and the Middle East. Haaretz.com provides extensive and in-depth coverage of Israel, the Jewish World and the Middle East, including defense, diplomacy, the Arab-Israeli conflict, the peace process, Israeli politics, Jerusalem affairs, international relations, Iran, Iraq, Syria, Lebanon, the Palestinian Authority, the West Bank and the Gaza Strip, the Israeli business world and Jewish life in Israel and the Diaspora.
    © Copyright  Haaretz. All rights reserved