Air India has signed a memorandum of understanding (MoU) with the ministry of civil aviation to realise financial and operational targets in 2014-15. The MoU specifies targets for categories based on scenarios (depending on whether the airline's performance is average, good or excellent).

An Air India senior executive said, "The oversight committee would continue to evaluate the performance as relates to the targets set in the turnaround plan.

BlackBerry Ltd launched a low-cost touchscreen device in Jakarta, the Z3, as the embattled smartphone maker looks to revive sales in emerging markets like Indonesia where its once-fervent following has shriveled.

The handset, unveiled at a glitzy launch event in the Indonesian capital on Tuesday, is the first in a line of devices being made with FIH Mobile Ltd, a unit of the giant Taiwanese Foxconn Technology Group best known for assembling gadgets like iPhones and iPads for Apple Inc.

The deadlock over labelling certified electronics continues, days ahead of a June deadline set by the Bureau of Indian Standards (BIS).

A recent missive by the bureau asked sellers of electronic products such as tablets and laptops to emboss or screenprint the quality certification on each product. However, the sector claims it is impossible to carry the attestation in this form because a big chunk of electronics is imported from countries such as Taiwan and China.

NASSCOM has prepared a five point agenda for the new Indian government to help its IT companies contribute in the development agenda within the country and to enable them in increasing their global foot print.

"We are suggesting (to new Indian government) to launch a technology entrepreneurship mission immediately, in which there are several different components which together will accomplish this purpose," R Chandrashekhar, National Association of Software and Services Companies (NASSCOM) president, said yesterday.

The shares of public sector undertakings (PSU) banks are trading higher by up to 3% in an otherwise subdued market after a committee appointed by the Reserve Bank of India (RBI) made some radical suggestions regarding the government’s control over nationalised banks.

Bank of India, Punjab National Bank, Canara Bank, Union Bank of India, Andhra Bank and Allahabad Bank are up 2-3% each, while State Bank of India, Bank of Baroda, IDBI, Indian Overseas Bank and Oriental Bank of Commerce are up 1% each on the National Stock Exchange (NSE).

Bangalore: Infosys Ltd president B.G. Srinivas and Stephen Pratt, former head of utilities and resources for North America who resigned from the company last November, have emerged as the highest-paid executives at India’s second-largest software services exporter in fiscal 2013-14, according to a regulatory filing by the company on Monday.

Two teachers and two students of Vishwa Bharti Public School (Greater Noida) — including a 13-year-old boy who lost his arm — were seriously injured after their school bus toppled over in Greater Noida on Monday. Police said a case of rash driving has been lodged against the driver, who is absconding.

This is the third incident reported this year where children have been put at risk while travelling on a school bus in Noida and Greater Noida.

Going by the time-tested principle of seniority, the government is set to appoint Lt Gen Dalbir Singh Suhag as the next Army Chief, with his name being forwarded by the defence ministry to the Appointments Committee of Cabinet (ACC) on Monday afternoon, hours after it got formal clearance from the Election Commission (EC) to go ahead with the process.

Beleaguered automobile company Hindustan Motors (HM) has recast its management and said that it would hire, as part of its restructuring efforts, an external consultant to get a perspective of the challenges and possible solutions for the Uttarpara plant.

The company has already accepted the resignation of three of its key executives — Managing Director Uttam Bose, director Kranti Sinha and Chief Financial Officer Yogesh Goenka.

NEW DELHI: BJP today welcomed the statement of US President Barack Obama that he was looking forward to work closely with the new government in India, saying all countries will cooperate with the new government in New Delhi.

"What Obama says shows in which direction the wind is blowing. All the democracies and all the countries in the world will definitely cooperate with the new government," party spokesperson Prakash Javadekar said here.

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