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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.

BEIJING, March 17 (Xinhua) -- The People's Bank of China (PBOC), or the central bank, auctioned 50 billion yuan (7.61 billion U.S. dollars) of three-month bills at a yield of 2.7944 percent on Thursday, temporarily easing speculation of an approaching interest rate hike.The yield on three-month bills stood unchanged from last week at 2.7944 percent.Also, PBOC sold 60 billion yuan (9.13 billion U.S. dollars) worth of 91-day repurchase agreements to banks on Thursday with a yield of 2.8 percent.Offsetting the 181 billion yuan (27.55 billion U.S. dollars) of bills and repurchase agreements that matured, PBOC took 49 billion yuan (7.46 billion U.S. dollars) of liquidity out of the money market this week through open market operations on Tuesday and Thursday.Market analysts have been watching PBOC's open market operations closely this week as the yield of its one-year bill sold on Tuesday exceeded the benchmark interest rate of one-year deposits, which some analysts interpret as a reason for an imminent interest rate hike.Chen Lan, an analyst with Guotai Junan Securities, said higher yields on central bank bills would boost PBOC's ability to absorb liquidity from the market amidst the country's economic tightening efforts."But the hike of interest rates is not an imminent task for the central bank amid the slowdown of China's industrial investment in February, which weakened consumer confidence, and economic uncertainty overseas," Chen said.China's industrial value-added output grew 14.1 percent in the first two months of this year, the National Bureau of Statistics (NBS) announced on Friday.The growth rate during the first two months was up by 0.6 percentage points compared to that in December of last year, according to figures released by the NBS.Chen predicted that PBOC will reduce its frequency to raise banks' reserve requirement ratio in coming months but said the rate hike expectation would continue this year as the government is hoping to curb the red hot property market and soaring inflation.China's consumer price index (CPI), a main gauge of inflation, rose 4.9 percent year on year in February, adding more monetary tightening pressure to the government. 

SAN FRANCISCO, March 30 (Xinhua) -- History records showed it was not often that large earthquakes caused immediate large volcano eruptions, a geophysicist told Xinhua on Wednesday while talking about whether the recent massive quake in Japan could trigger volcano eruptions.Inevitably, the shaking and changes in the state of stress in the crust could cause some changes in some of active volcanoes closest to the March 11 quake zone in Japan, said Dr. Jian Lin, senior scientist and geophysicist at the Woods Hole Oceanographic Institution in the United States.However, only if a particular volcano was already in a stage of magmatic inflation, a situation close to eruption, would the shaking make a major difference, he noted.Lin is currently visiting the U.S. Geological Survey's earthquake research center in Menlo Park, California to study the March 11 Japan earthquake.Compared with the cases that earthquake triggered volcano eruptions in the past, Lin said, most of active volcanoes in Japan are located somewhat farther away from the March 11 earthquake rupture zones. "The farther away, the less direct effect," he noted.Therefore, "the most important thing is to closely monitor all the active volcanoes in Japan," he said.There are only two well-documented cases of significant volcano eruptions that were apparently triggered by large earthquakes, he said.On Nov. 29, 1975, the Kilauea Volcano in the Hawaiian Islands had a small and short-lived eruption immediately after a magnitude- 7.2 quake hit the Big Island of Hawaii near the volcano, which was probably the best scientifically documented case so far of a volcano eruption triggered by a large earthquake.Records showed that the Kilauea Volvano was already in a stage of inflation before the quake. Meanwhile, the quake was right next to the volcano, which triggered the following eruption.Another case is 1960 Chile earthquake-volcano pair, in which a magnitude-9.5 earthquake, the largest ever recorded by instruments, could have triggered the Puyehue-Cordon Caulle Volcanic Complex ( PCCVC) into a violent eruption within 38 hours. The CCVC had been inactive for 25 years before the quake.Lin pointed out that like the Kilauea case, the earthquake rupture zone in the Chilean quake was again quite close to the volcanic group. However, little scientific monitoring data had been got for the PCCVC before its eruption as it is in a remote area in Chile.In recent years, scientists have observed that large earthquakes from long distance could trigger swarms of small earthquakes in active hydrothermal systems of volcanic regions, he said, noting that "these small earthquake swarms like these are not the same as volcano eruption."Lin added that the relationship between large volcano eruption and large earthquakes is still a poorly studied subject since scientific record is very short and many of large eruptions in the geological history were poorly documented."Therefore, we still know quite little about this subject," he said.

SAN FRANCISCO, March 7 (Xinhua) -- The world's leading hard rive producer Western Digital Corp. on Monday announced that it has agreed to buy Hitachi Ltd.'s hard disk drive unit for about 4. 3 billion U.S. dollars, a move that will create a dominant player in the industry.Western Digital said that it plans to acquire Hitachi Global Storage Technologies, a wholly-owned subsidiary of Hitachi Ltd., in cash and stock.The proposed combination will result in a customer-focused storage company with the industry's broadest product lineup backed by a rich technology portfolio, Western Digital said.According to their agreement, the resulting company will retain the Western Digital name and remain headquartered in Irvine in the U.S. state of California.The transaction has been approved by the board of directors of each company and is expected to close during the third quarter of 2011.With the purchase, Western Digital will claim 49.6 percent share of global hard disk drive unit shipments based on latest quarterly statistics, compared to 29.4 percent for Seagate Technology LLC, the industry's No. 2 supplier, research firm iSuppli pointed out.The deal will give Western Digital a lead of 20.2 percentage points over Seagate, up from a mere 2 points without the acquisition, iSuppli said in a research note released Monday.The acquisition will also allow Western Digital to enter the critical enterprise hard disk drive segment, where it currently is only a marginal player.Analysts believed that the purchase might be a consequence of declining hard disk drive shipments, which are being impacted by the rising sales of tablet computers, which don't use hard disk drives and are cutting into the sales of mobile PCs, a major market for hard drives."Amid weaker industry conditions, organic sales growth is more difficult to achieve, prompting hard disk drive suppliers to engage in acquisitions to gain market share," iSuppli noted.

BAIKONUR, Kazakhstan, April 5 (Xinhua) -- Russian manned spacecraft Soyuz TMA-21 has been transported to the launch pad and raised to a vertical position, ready to blast off on April 5, Xinhua correspondents reported Saturday from the site.The launch is dedicated to the 50th anniversary of the first flight into space in 1961 carried out by Russian cosmonaut Yuri Gagarin.For hours, journalists and tourists from all over the world had braved a nasty weather and watched the train and trucks delivering the rocket to the pad.Service towers move towards the Soyuz TMA-21 spacecraft, named after the first cosmonaut Yuri Gagarin, as it is set on its launch pad at Baikonur cosmodrome April 2, 2011. The International Space Station (ISS) crew of U.S. astronaut Ronald Garan and crew mates Russian cosmonauts Alexandr Samokutyaev and Andrey Borisenko is due to travel by Soyuz spacecraft to the ISS on April 5.The Soyuz TMA-21 rocket will deliver three crew members to the International Space Station (ISS) on April 5. In a six-month mission, these cosmonauts will carry out over 40 experiments.The Soyuz TMA modification is a replacement of the Soyuz TM as it was equipped with smaller and more efficient computers and improved displays. The Soyuz TMA-21 will also serve as the return vehicle of the ISS crew.

来源：资阳报