As Africa moves from a significant fiscal deficit largely funded by aid to a continent with a fiscal surplus, the search is on for a framework to manage countries' resource-driven wealth. The challenges posed by sovereign wealth funds include the need for a vehicle to invest windfall surpluses for future generations and ring-fence today's wealth from greedy leaders. On the other, investing offshore -- as do the sovereign funds of major developed and emerging economies -- would be political dynamite in Africa.

The earthquake that killed more than 150,000 people in Haiti may have left clues to petroleum reservoirs that could aid economic recovery in the Western Hemisphere’s poorest nation, a geologist said. The Greater Antilles, which includes Cuba, Haiti, the Dominican Republic, Puerto Rico and their offshore waters, probably hold at least 142 million barrels of oil and 159 billion cubic feet of gas; undiscovered amounts may be as high as 941 million barrels of oil and 1.2 trillion cubic feet of gas.

The iconic needle-nosed Japanese "bullet train" could speed through the swampy marshlands of central Florida if Yoshiyuki Kasai, the chairman of Central Japan Railway Co., gets his way. Mr. Kasai announced efforts to bring the shinkansen, Japan's bullet train, to the U.S. JR Central's push to enter the U.S. set aside for high-speed passenger-train service is carved up.

The next 10 years might well be a 'golden age' for Asia, and the region could even become a new source of prosperity and stability for the world. The reason is Asian countries - together with other emerging markets such as Brazil and Russia - will power global growth in the coming years, and the world's investors will want to invest more in them. Success will, however, depend on the skill of Asian policymakers in dealing with the economic risks ahead, he warned.

China is booming on the back of exports growing at an annual rate of 40%. Far from ¬re-engineering its economy towards domestic consumption, China has returned to its comfort zone of export-led growth. China needs to boost domestic consumption rather than relying on exports or the world will be flooded with goods that nobody wants. Some analysts think that China is about to take dramatic action to rebalance its domestic economy.

Last week saw the introduction of two of the world's most luxurious vehicles to the local market. Only 100 units of the super-luxury Maybach 62 Zeppelin, will be produced, of which only three will be officially marketed in the country. The Ghost, unveiled by Rolls Royce on the local market, will be produced on an order basis and deliveries will be made from the second quarter of the year. Managing 100km 13.6 liters of fuel, or about 7.4km per liter, the Rolls Royce Ghost is a step ahead of the Maybach 62 Zeppelin despite having a larger engine.