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CAPE TOWN, April 30 (Xinhua) -- The World Economic Forum on Africa, scheduled on May 2-4 in Cape Town, South Africa, will see participants exchange views on how the continent can turn to the next chapter of development.The meeting, expected to gather a record 900 participants from over 60 countries, will be held under the theme "From Vision to Action, Africa's Next Chapter," organizers said."We chose this theme because we feel it is very relevant for the events that are taking place on this continent, and the opportunity for growth and investment that the international and African communities are seeing," said Katherine Tweedie, head of Africa for the World Economic Forum.Seven of the fastest growing economies in the world in the next five years will be in sub-Saharan Africa, Tweedie noted, saying that a lot of discussion will be devoted to explore drivers behind this growth.Africa's economic growth in recent years have impressed the world. Though being the most underdeveloped continent, Africa have been more resilient than expected during the global economic crisis.The International Monetary Fund (IMF) have predicted that the continent's growth in 2011 will reach 5.3 percent.Under one of the three thematic pillars, "Shaping Africa's Role in the New Reality," the meeting will explore how Africa can take on a leadership role in the new reality and guard against newly emerging global and regional risks. Participants will look at how Africa can strengthen its representation and negotiation capacity on global platforms such as COP 17 and the G20.Meanwhile, the meeting will look into Africa's industrial diversification, which is widely considered as an effective way to increase competitiveness. Discussions under the thematic pillar of "Fostering Africa's News Champions of Growth" will focus on what innovative and entrepreneurial lessons drive Africa's fastest- growing companies, and how can Africa's emerging economies build capacity in science, technology and innovation to move up the value chain.Another topic expected to attract much attention is Africa's inclusive development. In recent years, African decision makers have been looking for ways to attain inclusive development by translating economic growth into better lives for the people.Marcus Courage, managing director of consulting group Africapractice, said ahead of the meeting that Africa must start measuring its economic growth in terms of job creation and progress of value addition of what it produces, rather than the gross domestic product (GDP), if it has to move from vision to action."One of the challenges is that we measure economic success in therms of GDP. That is not fair reflection of action," he told Xinhua.Under the thematic pillar of "Building Partnership for Inclusive Development," participants will debate on how can inclusive growth be put at the heart of a sustainable development agenda for Africa, and how can government of African countries work together with the business sector to distribute more equitably the benefits from the wealth in natural resources, among others.Regarding the highlight of this year's meeting, Tweedie said there will be a strong focus on green growth and the environment agenda, working closely with the South African government, given that South Africa will be hosting the COP 17 meetings in December.The meeting will also have very strong representation from Francophone west Africa for the first time. As a result a good part of the discussions will be focusing on issues taking place in this part of Africa, she added.Although South Africa has hosted the World Economic Forum on Africa for a number of times, this year the host is attracting particular attention.South Africa has joined the BRICS group of countries which also include Brazil, Russia, India and China, becoming the only African member in the grouping. It is also the only country from Africa in G20. In November this year, South African city of Durban will host the 17th Conference of the Parties (COP 17) to the UN Framework Convention on Climate Change.How can the country speak for Africa in the international arena, and what role can it play in facilitating closer cooperation between developing countries is also expected to draw in-depth discussions at the meeting.Meanwhile, participants are also expected to exchange views on issues including Africa's agriculture development, infrastructure construction, China-Africa cooperation, impact of political situation in North African and the Middle East on Africa's economic development, among others.

SAN FRANCISCO, May 26 (Xinhua) -- Internet advertising revenues in the United States surged to 7.3 billion U.S. dollars in the first quarter of 2011, the highest first-quarter revenue level on record for the industry, said a new report released on Thursday.The numbers also represented a 23-percent increase over the same period a year earlier, the Interactive Advertising Bureau ( IAB) and PricewaterhouseCoopers said in the report."The consistent and considerable year-over-year growth we're seeing demonstrates that digital media is an increasingly popular destination for ad dollars, and for good reason," Randall Rothenberg, chief executive officer of the IAB, said in a statement."As Americans spend more time online for information and entertainment purposes, digital advertising and marketing has emerged as one of the most effective tools businesses have to attract and retain customers," he added."These numbers indicate that the interactive advertising field hasn't simply bounced back since the recession; it's growing with dynamic energy," noted David Silverman, a partner at PricewaterhouseCoopers.IAB, a trade association for interactive marketing, comprised more than 500 media and technology companies who are responsible for selling 86 percent of online advertising in the United States.

BEIJING, Feb. 10 (Xinhua) -- The Chinese currency, or the yuan, on Thursday rose to a fresh high of 6.5849 against the U.S. dollar, according to the China Foreign Exchange Trading System.The central parity rate of the yuan, or RMB, was 1 basis point higher than the previous record of 6.585 set on Feb. 9, the previous trading day.The central parity rate has risen against the dollar for a three consecutive trading days.China's central bank announced on June 19 last year that it would further reform the yuan exchange rate formation mechanism to improve its flexibility.On China's foreign exchange spot market, the yuan can rise or fall 0.5 percent from the central parity rate each trading day.The central parity rate of the RMB against the U.S. dollar is based on a weighted average of prices before the opening of the market each business day.

CANBERRA, April 14 (Xinhua) -- The Australian federal government could struggle to get its carbon tax through parliament, as key independent Member of Parliament (MP) Tony Windsor on Thursday warned the plan may never become a reality.Windsor, who is one of the independents Prime Minister Julia Gillard will rely on to get her carbon tax pass the Parliament, said while climate action will benefit the bush, he will not "vote for something that does nothing"."There is no carbon tax, there may not be a carbon tax," he told ABC News on Thursday morning."The prime minister doesn't have the numbers, as I understand it at the moment."I have a vote, others do as well, so you can never guarantee something before it gets through a minority parliament."Windsor said people in his rural New South Wales electorate were concerned about the lack of detail around the proposed carbon tax.Gillard played down his comments, saying that Windsor, who sits on the multi-party climate change committee, had been "perfectly consistent" in his approach to the carbon price debate."He does believe climate change is real ... that pricing carbon is the best way, an important way, of tackling climate change," Gillard told ABC Radio on Thursday."(But) he's going to look at the (legislative) package and wait to the end and then judge (it)."Gillard added that the Labor government remains determined to introduce a carbon tax from mid-2012 followed by an emissions trading scheme.

BEIJING, Jan. 21 (Xinhua) -- Chinese Vice Premier Li Keqiang on Friday stressed the importance that local governments improve management of land and resources, as it remains vital for the stable and relatively quick development of the nation's economy.Li said China faced the difficult tasks of land and resource management as resources are becoming scarce amid the country's quickening industrialization, urbanization, and agricultural modernization.He said the nation must continue preserving arable land. To ensure grain security, China set a "red line" to guarantee its arable land never shrinks to less than 1.8 billion mu (120 million hectares).Chinese Vice Premier Li Keqiang (R) shakes hands with outstanding representatives from local departments in charge of land and resources in Beijing, capital of China, Jan. 21, 2011.Li also called on local authorities to step up efforts to protect valuable mineral resources while using resources more efficiently and in a frugal manner.At the same time, the senior Chinese official said land should be guaranteed for the nation's plan to build 10 million affordable houses for low and middle income people this year.Further, Li urged local authorities to improve work in monitoring and taking precautionary measures against geological disasters to ensure the safety of people's lives and property.