Africa-Israel Investments, headed by Lev Levayev, and the Delek energy firm directed by Yitzchak Tshuva reported huge losses in the third quarter. Levayev's holding company lost $500 million, mostly in write-offs due to the declining value of real estate property.

Delek said it lost $200 million in the third quarter, almost half of it due to falling real estate values and higher financial expenses. Operating profit fell by more the two-thirds despite higher revenues.