Home-grown firm Lava will launch its new handset, powered by the latest Android KitKat, for under Rs 8,000 this week, adding more fire to the fiercely competitive affordable smartphone market in India.

The 'Iris X1' is powered by Android 4.4 KitKat operating system and has a 4.5 inch IPS display, Lava said in a statement.

Nokia, or to be politically correct Microsoft Mobile Oy, launched the Lumia 630 in India on Monday. The phone finally came with a price tag of Rs 10,500 for the single SIM version, and Rs 11,500 for the dual-SIM model. Both very competitive prices for the Indian market, considering this is a 4.5-inch smartphone with a 5-MP camera and the promise of Nokia durability. Everyone was expecting the price to be at least Rs 2,000 more.

Industrial production contracted for the second straight month in March, driving down factory output growth to the lowest in at least three decades, while retail inflation hit a three-month high in April, in more trouble for the economy and probably for the new government at the Centre.

Ailing smartphone maker BlackBerry will today make a new bid to turn its fortunes around with the launch of a cut-price handset in Indonesia, one of its last bastions.

The Z3, which is expected to be introduced in other emerging markets later, is the first new BlackBerry phone since chief executive John Chen took the helm of the crisis-hit company last year.

SAN FRANCISCO: Twitter on Monday began letting users 'mute' posts from people they are not interested in hearing from at the popular one-to-many messaging service.

The new Mute feature was expected to be rolled out to all Twitter accounts in coming weeks.

As many as 49 people were killed and 69 wounded Monday in a wave of violent attacks witnessed across Iraq, including battles with insurgent groups in Anbar province, security and medical sources said.

In Anbar province, fierce clashes erupted between Iraqi forces and gunmen in the militant-seized Fallujah city, some 50 km from Baghdad, leaving 19 militants killed and 20 wounded, Xinhua quoted provincial police as saying.

Drugmaker Cipla on Monday said it will acquire 14.6% stake in US-based Chase Pharmaceuticals Corporation Inc for $1.5 million through its wholly owned subsidiary Cipla (EU), UK.

Chase, based in Washington DC, is an early-stage drug development company focused on developing new approaches for treating Alzheimer's disease.

Rio de Janeiro: FIFA secretary general Jerome Valcke has denied claims that football fans may face security threats during the World Cup in Brazil, asking them to enjoy their time in Brazil.

Reports have cited rising street crime and civil unrest which can be a concern for fans attending the June 12-July 13 tournament, reports Xinhua.

Valcke urged travelling supporters not to let safety fears detract them from the excitement of the World Cup.

Housing Development Finance Corporation Ltd (HDFC)’s plan to open schools has been delayed by at least two years. HDFC, which was planning to bring in its schools by this academic year, under the brand The HDFC Schools, has seen delay in acquiring land to build the schools.

“Land acquisition has taken more time than what we had anticipated. Thus, our plans have been delayed by almost two years,” said a senior executive from HDFC on the condition of anonymity.

TVS Motor Company (TVS) has not given up on the motorcycle segment yet. It trailed the erstwhile Hero Honda and Bajaj Auto (Bajaj) as a distant third for years. It then suffered when the tie-up between Hero MotoCorp (Hero) and Honda gave way as the newly separated player, Honda Motorcycle and Scooter India (Honda), usurped it as the third-largest seller in 2011, on its way to compete neck and neck with Bajaj. But the comeback hopes of TVS chairman and managing director, Venu Srinivasan, is evident from its designs on the motorcycle segment. It has launched a new commuter bike, TVS Star City Plus on Monday. And soon, it would be launching a new bike branded as its erstwhile bestseller TVS Victor.

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