The Middle East @ Work: Marketplace Public Radio Programs to Broadcast from the Middle East with a Special Two-Week Series
March 3-14, 2008: Marketplace, Marketplace Morning Report and Marketplace Money to Report on Economics, Business and Money in the Middle East
(Los Angeles, Calif.) February 28, 2008—Marketplace, American Public Media's award-winning daily business and economics news program, today announced that from March 3-14, 2008, the Marketplace portfolio of business programs will be reporting from the Middle East with a special two-week series entitled The Middle East @ Work. Marketplace Morning Report with host Scott Jagow will broadcast from Cairo, Egypt, March 3-7; Marketplace Money with host Tess Vigeland will give the American perspective the weekend of March 8-9; and Marketplace with host Kai Ryssdal will report from Dubai, United Arab Emirates, March 10-14.
"No other region affects our pocketbooks, politics and portfolios more. Our tax money, our gas money, even our retirement money—it's all connected," said JJ Yore, executive producer of Marketplace and vice president of programming at American Public Media. "Marketplace is excited about this opportunity to provide our listeners original, in-depth stories about why the Middle East matters in the voices of people who study, live and work in the region."
The Middle East @ Work Story Highlights:
Marketplace Morning Report:
Egyptian Gold Rush—Despite a 4,000-year history of gold mining, Egypt has largely missed out on the gold boom; however, that’s beginning to change now that some foreign companies recently signed deals to begin exploration and the Egyptian government is drafting a new mining code more favorable to outside investors. From Cairo, Marketplace's Amy Scott speaks with Josef El-Raghy, CEO of Centamin Egypt Limited, an Australian-Egyptian mineral exploration company. Centamin Egypt Limited is building Egypt's first major modern gold mine in the Eastern Desert near the Red Sea. It is estimated that over 55 million ounces of gold have come from this Red Sea Hills area of Egypt, which makes it one of the biggest gold fields in the world.
Muslim Mortgages—Islam forbids the essential part of any loan—interest. So how does a devout Muslim buy a home? Just ask the largest Islamic mortgage lender in the United States, American Finance House LARIBA. This Pasadena-based company has made money by not charging interest on home loans. So how does it work? Marketplace Money host Tess Vigeland profiles American Finance House LARIBA and a family that has received a mortgage. What makes this story more interesting is that finance experts say these mortgages are exactly what should have been offered to non-traditional borrowers, those caught up in the current subprime mortgage mess.
The Real Emirates—Dubai's economic success has relied heavily on immigration. The vast majority of immigrants are migrant workers performing manual labor and a large number of white-collar employees are foreign, too. Many of these workers hold key positions in the national airline, real estate, financial services and media. Native-born citizens are thought to make up only around 3.5 percent of the United Arab Emirates' 2 million people. By 2015, foreigners are expected to make up 99 percent of the population. From Dubai, Marketplace's Stephen Beard reports on Dubai's vanishing native-born citizens by asking Emiratis what they think about their country's massive demographic changes and whether they fear losing their status and identity.
For more information about The Middle East @ Work, visit www.marketplace.org/middleeast.
Support for The Middle East @ Work is provided by Constellation Energy and the Cleveland Clinic.
Sources: Members of the Marketplace news team who contributed to The Middle East @ Work are available for interviews on this series and on any other stories you may be developing on Middle Eastern economics, business and finance. Please contact Brad Robideau at American Public Media to arrange at (651) 290-1113 or firstname.lastname@example.org.
Marketplace is an award-winning portfolio of business programs (Marketplace, Marketplace Money and Marketplace Morning Report) that provides public radio audiences a smart, witty take on the state of the global economy and how it relates to them. The "business show for the rest of us" breaks down the impact of the week's major national and international stories on our world and on our wallets. The only national business news programs that originate from the West Coast, the Marketplace portfolio is heard by more than eight million listeners each week, more than any other business program on radio or TV. Marketplace is on the Web at www.marketplace.org.
American Public Media is the nation's second-largest producer of public radio programs, reaching more than 15 million listeners nationwide each week. National programs include A Prairie Home Companion, Weekend America, Marketplace, Marketplace Money, Performance Today, The Splendid Table, Being and special reports produced by its national documentary unit, American RadioWorks. A complete list of stations, programs and additional services for the American Public Media national network can be obtained at www.americanpublicmedia.org.
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Source: Data are copyright Arbitron, Inc. Arbitron data are estimates only. Fall 2006/Spring 2007 average