Africa

4 Surprising Nations That Minted 6 New Forbes Billionaires

When the next Forbes billionaires list is released, 32 new names will be on it. And while most hail from the sort of countries you'd expect -- the United States, China, EU nations -- a half dozen made their fortunes in more surprising places.

Walmart Stock Has Room to Rise Via Emerging Markets

Walmart's numbers have been stagnating in the U.S. lately, but overseas in emerging markets, the world's biggest retailer has been coming on strong. Its stock has been hovering in the low $50s -- and you won't believe where Trefis puts its estimate for the real value of the low-price giant.

Gas Prices Around the Globe: The Highs and the Lows

With U.S. gas prices near historic highs, Americans are anxious about the cost of filling up. But we still feel far less pain at the pump than drivers in many other developed nations. On the flip side, if you drive in the right world cities, you can still pay less than $1 a gallon.

Baseball Makes a Mighty Pitch in China and Africa

Major League Baseball's worldwide spread is facing slow going in China and Africa. But America's favorite pastime is working hard to find friends in both areas, starting with footholds in Taiwan and South Africa. MLB is clearly keeping its eye on the ball overseas.

2011's Stealth Trend: Wireless Web Remakes the Rural World

If you want to know how the rural developing world could get cheap, easy wireless Internet access, just follow the money: Remittances to those regions total tens of billions each year, and the money flow isn't very efficient. The profits from micro-telcos taking over the business could prime the pump for an information revolution in the hinterlands.

KFC Takes Aim at African Market

Yum Brands Inc, (YUM) owner of the KFC and Pizza Hut brands, is taking aim at the fast-growing African market for fast food. The company, based in Louisville, Ky, plans to double the number of KFC restaurants in Africa to 1,200 by 2014, The Wall Street Journal said. It hopes to double its revenue from the continent to $2 billion over the next four years.

Wal-Mart Plans $4.6 Billion Move for South Africa's Massmart

Wal-Mart Stores (WMT) is planning a $4.6 billion offer of about $4.6 billion for South African retailer Massmart. The deal would value Massmart at 148 rand ($21.10) a share, Bloomberg News said. That%u2019s 9.8% higher than the company%u2019s last closing price.

Wheat Rises as Russia Extends Ban, Mozambique Strike Continues

Wheat prices rose after Russia extended an export ban on grains and high food prices prompted a strike in Mozambique. Wheat for December delivery rose as high as $7.2475 a bushel in Chicago trading, Bloomberg News reported. Russia, crippled by drought and wildfires in crop-growing areas, said Thursday that its ban on grain exports would last until after the next harvest.

Why Hosting World Cup Is a Losing Bet for South Africa

South Africa has some lofty expectations about the economic boost the World Cup will bring to its economy. Economists are skeptical that the soccer tournament will live up to those expectations and history shows that it most likely will not.

Strange 'Disappearance' of Nigeria's President Rattles U.S.

Forget Austin Powers. The real "international man of mystery" is President Umaru Yar'Adua of Nigeria, who hasn't been seen in public for weeks. The absence comes at a tricky time for U.S.-Nigerian relations, as a Nigerian has been charged with trying to blow up a U.S. airliner and Obama needs Nigeria's help to counter Al-Qaeda's growing influence in the region.