Corey Flintoff

Sudan and South Sudan are careering closer to a full-scale war, with fighting along their ill-defined border and belligerent rhetoric coming from both sides.

The conflict threatens to cripple the fragile economies in both nations, and it could create new burdens on neighboring countries in east and central Africa, a region prone to humanitarian disaster.

In the latest developments, South Sudanese officials say that Sudan's air force bombed its territory for a second straight day on Tuesday.

A year after an uprising threatened Bahrain's monarchy, the royal family is hosting a Formula One Grand Prix race this Sunday as it attempts to show life has returned to normal.

But racing fans will have to make their way through ranks of police and soldiers who are part of a heavy security presence. And riot police have been using tear gas, stun grenades and birdshot to hold back demonstrations around the capital city, Manama.

It's sounds like a story from the past: A Latin American leader announces plans to nationalize a large foreign company, touching off a high-stakes battle that involves money, politics and diplomacy.

Yet it's happening right now. Argentina's President Cristina Fernandez said this week that her country plans to take over a giant Spanish oil company at a time when the economies in both countries are facing challenges.

Spanish officials are threatening to retaliate against Argentina for seizing a majority of shares in the biggest oil company in Argentina, YPF.

Since the Arab oil embargoes of the 1960s and 70s, it's been conventional wisdom to talk about American dependence on oil from the Persian Gulf. But the global oil market has changed dramatically since then.

Today, the U.S. actually gets most of its imported oil from Canada and Latin America.

And many Americans might be surprised to learn that the U.S. now imports roughly the same amount of oil from Africa as it does from the Persian Gulf. African imports were a bit higher in 2010, while Persian Gulf oil accounted for a bit more last year.

Rebels from the Tuareg ethnic group now control most of northern Mali, a territory as big as France on the edge of the Sahara desert.

A column of trucks loaded with Tuareg fighters rolled into the ancient desert town of Timbuktu on Sunday, taking over the positions abandoned by fleeing government soldiers.

They include an Islamist faction that wants to impose Shariah law throughout Mali and are believed to include elements with links to al-Qaida in the Islamic Maghreb.

The scene in Mali's capital, Bamako, shows what used to be a familiar sight: an African capital in chaos, with drunken soldiers firing into the air and looting government buildings in the wake of a coup.

Military coups were dishearteningly common for people in Africa and Latin America during the 1960s and '70s, as governments fell to opportunistic military men.

But that trend had been slowing in the past two decades, as more and more governments began to hold regular elections.