Google Code Blog: HTML5 and WebKit pave the way for mobile web applications

Enter HTML5. We’re very excited about the evolving HTML5 standard because it enables mobile and desktop website designers to deliver the advantages of client-side and server side development to their users simultaneously! New APIs let web applications start offline and store data on the client. The canvas API lets you draw complex user interfaces, or you can use advanced CSS tricks to get the browser to render a rich UI. In addition, the W3C Geolocation API is being adopted and implemented by browser developers, enabling entire new categories of web applications to be built. The benefits are clear: you can develop fantastic new applications, benefit from server-side analytics and iteration to deliver features that your users want, and know that offline functionality keeps things running as the user moves in and out of coverage.
(Link: Google Code Blog: HTML5 and WebKit pave the way for mobile web applications)