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...gulf countries also know their societies have to eventually change too, says economist Sfakianakis. Oil generates wealth, but the oil industry doesn't generate many jobs. Even in rich Saudi Arabia, unemployment is officially 11.6% - and that's among men only. Some 65% of the population in the broader Middle East is younger than 30. For the region's governments to create jobs for all those young people, they will have to continue opening up to the private sector, foreign investment, and perhaps edge toward democracy. "The attraction of Dubai to the other Middle Eastern countries was a state model...

Author: /time Magazine | Title: The Lessons of Dubai | 2/22/2010 | See Source »

...break down reality TV roughly into two major subgenres. The first - the big competition-event show - descends from Survivor and includes most of reality's big hits: Idol, The Bachelor, The Amazing Race, The Biggest Loser, Project Runway. These shows mainstreamed reality TV for bigger, broader (and older) audiences by applying it to familiar genres: game shows, singing competitions, cook-offs, dating shows...

Author: /time Magazine | Title: Reality TV at 10: How It's Changed Television — and Us | 2/22/2010 | See Source »

...loan-modification effort - abbreviated as HAMP - does little to help such borrowers since in many cases lenders will recoup more by foreclosing (the test any loan modification must pass). A recent Bank of America Merrill Lynch study of loan modifications at IndyMac, which provided the template for broader modification efforts, found that about 20% of subprime loans had been rewritten, while fewer than 8% of option ARMs got reloaded. (See pictures of TIME's Wall Street covers...

Author: /time Magazine | Title: How Big Is the Threat from Option ARMs? | 2/19/2010 | See Source »

...part of their efforts to appeal to a broader range of students and help energize the political arm of the organization, the board voted unanimously on Sunday to change their official mission statement to include a broader range of identities, collaborate with other student groups, increase diversity within the QSA, and take political action...

Author: By Alice E. M. Underwood, CRIMSON STAFF WRITER | Title: QSA Debuts New Mission Statement | 2/18/2010 | See Source »

...series of public-sector wage cuts and tax increases that are intended to help slash the deficit from the current 12.7% of GDP to the E.U. limit of 3% by 2012. While the impact of the new measures has yet to be felt, the delayed effects of the broader economic crisis are beginning to bite. The country slipped into recession last year and is now facing its worst economic contraction since 1987 - the last time Greece was forced to implement austerity measures following a previous round of government overspending. And across the country, the mood has started to sour: shops...

Author: /time Magazine | Title: The Party's Over for Spendthrift Greeks | 2/17/2010 | See Source »

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