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Article: 28 percent of 500 top local companies lost money in 2008
- Article from:
- Jerusalem Post
- Article date:
- August 10, 2009
- Author:
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SHARON WROBEL SHARON WROBEL
Jerusalem Post
08-10-2009
28 percent of 500 top local companies lost money in 2008
Byline: SHARON WROBEL SHARON WROBEL
Edition: Daily
Section: Economics
Memo: Box at end of text.
Profits at nearly a third of the 500 leading companies in the economy - those with the largest turnover - were hit in 2008 by the recession that gained momentum in the second half of last year, compared with 9 percent in the previous year, Business Data Israel reported on Sunday.
"The increase in the companies making losses can be attributed to the fall in the dollar rate in 2008, which has mainly hit exporters, coupled with the steep drop in exports in the fourth quarter of last ...