Infosys announces new Executive Council to frame business strategies

Software major Infosys Technologies on Saturday announced composition of new Executive Council (EC), a high level body that frames its business strategies.

The EC will include the executive board, current EC members, heads of key business units and strategic business enabler units.

"It gives me great pleasure to announce the new executive council of Infosys. The new EC is a group of highly competent professionals who would closely work with the Board in formulating business strategy and framing policies for the organisation," Infosys CEO & MD S Gopalakrishnan said.

"This is one of the most significant announcements that will shape the Infosys of tomorrow," he added.

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The members of the EC are: S Gopalakrishnan, S D Shibulal COO, Srinath Batni, Director and Head, Delivery Excellence, V Balakrishnan, CFO, Ashok Vemuri, Senior VP and Head Banking and Capital Markets and Strategic Global Sourcing, the release said.

Other members are B G Srinivas Senior V-P and Head Manufacturing, Product Engineering, Product Lifecycle and Engineering Solutions, Chandrashekar Kakal, Senior VP Enterprise Solutions, U B Pravin Rao, Senior VP, Retail, CPG & Logistics, Prasad Thrikutam Head, Energy, Utilities, Communications & Services, Infosys Limited Global Head, Systems Integration.

Steve Pratt CEO and MD, Infosys Consulting, Ramadas Kamath U, Senior VP, Administration, Commercial Facilities, Infrastructure, Nandita Gurjar, Senior VP and Group Head, Human Resources and Basab Pradhan, Global Head of Sales, are the other members of the EC, the release added.

Earlier this week, Infosys posted a 15.72 per cent jump in its first quarter consolidated net profit year-on-year at Rs 1,722 crore as against Rs 1,488 crore in the year-ago period, meeting street expectations.

The company's revenues rose to Rs 7,485 crore in the first quarter from Rs 6,198 crore in the year-ago period, up 20.76 per cent.

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Bharti, IBM ink 10-year agreement for IT solutions in Africa

Extending its partnership with IBM , telecom major Bharti airtel has now awarded a 10-year contract to the technology giant for providing IT solutions to its employees across 16 African countries.

Under the new agreement, IBM will provide end-user services to airtel employees across Africa in French and English.

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It will provide a standard operating environment, 'help desk' and 'desk side' support to enhance employee efficiency and convenience, Bharti airtel said in a statement.

However, the value of the deal was not disclosed.

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The consolidation of airtel's helpdesks is expected to bring about greater cost savings and efficiencies through streamlining of the processes for addressing IT operational issues.

IBM is already managing Bharti airtel's IT operations in India, Sri Lanka, Bangladesh and 16 African countries.

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It will also include an enhanced information enterprise security solution that further strengthens airtel's commitment to customer data privacy.

Last year, Bharti airtel had acquired Kuwait-based Zain Telecom's African business for $10.7 billion.

The announcement builds on the strategic partnership announced by airel and IBM in late 2010 for the management of the computing technology and services powering Airtel's mobile communications network spanning 16 African countries, it added.

Outsourcing of key operational functions has been key to Bharti airtel's low-cost, high-volume business model that has helped it to build a subscriber base of over 140 million customers in India.

IBM will also be responsible for the implementation and maintenance of a standard operating environment, using platforms, tools and management processes.

"This agreement enables us to provide the best IT capabilities to our employees with a focus on making innovative mobile solutions available across Africa," Bharti Airtel Chief Executive Officer (International) and Joint Managing Director Manoj Kohli said.

Bharti airtel and IBM's relationship began in 2004, when the telecom operator selected IBM to handle IT and applications for its entire network in India.

Bharti airtel currently has over 44 million customers across 16 African countries and is targeting 100 million subscribers by 2015.

"This latest agreement will bring enhanced efficiencies to benefit customers, employees and business partners of Bharti airtel," IBM General Manager (Growth Markets) Bruno Di Leo said.

The new agreement was signed in the first quarter of 2011.

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Mobile banking to help 2 billion people by 2020

FRANKFURT (Reuters) - Mobile financial services are expected to improve the lives of around 2 billion people in developing countries within a decade and boost economies, a Boston Consulting Group study found.

"Overall, mobile financial services can reduce financial exclusion by 5 percent to 20 percent through 2020 and increase gross domestic product (GDP) by up to 5 percent, with Pakistan, for instance, potentially seeing a 3 percent uplift," the study said.

It added that improved access to finance fostered entrepreneurship, new business creation and new jobs.

The report, released by Norwegian telecom group Telenor on Tuesday, focused on five countries -- Pakistan, Bangladesh, India, Malaysia and Serbia -- which represented a broad development range, it said.

Some 72 percent of the population in developing countries are without access to banks or credit cards according to the study.

They manage to work around this by borrowing from friends and family, obtaining short-term credit from employers, forming savings clubs or seeking out moneylenders but these options were often risky, costly and with indeterminate results.

Telecom firms such as Telenor, Vodafone , Orange and MTN have begun investing in mobile payment systems in Asia and Africa that allow consumers to make basic payments for utilities for example but also participate in savings, credit and insurance programmes via mobile phones.

Mobile financial services can also help overcome economic shocks such as natural disasters or unexpected medical emergencies, the study said.

In Kenya, Safaricom's M-Pesa's UAP Insurance insures poor farmers through mobile phones against weather-induced crop failures for example.

Norway's Telenor said it was still early days but that the potential for growth was expected to be huge.

Telenor's EasyPaisa programme in Pakistan started with 2,200 retail outlets in October 2009 and now has 12,600 retailers spread over 650 cities across the country.

It has some 10 million estimated users and the total value of money transfers has reached 17.4 billion Pakistan rupees ($167.2 million).

"We believe that mobile financial services will be one of the key drivers for financial inclusion going forward and thus has the potential to be the most powerful tool for economic and social development in emerging economies," Telenor Chief executive Jon Fredrik Baksaas said in a statement on Tuesday.

Toyota launched its new updated version of Corolla Altis

Toyota Kirloskar Motors (TKM) has launched an updated version of its Corolla Altis saloon.

The refreshed model now comes with new set of headlamps, refreshed grille and bumper, updated rear lamps. The interiors now feature darker mock wood trim.

The petrol engine has been tweaked and will now deliver 138bhp, 7bhp more than the earlier model.The updated Altis now is equipped with new gearbox options; the 5-speed manual is now replaced by a new 6-speed unit while the top-end automatic version gets a new 7-speed CVT unit. Diesel models will feature the same 6-speed manual gearbox.

The prices of the petrol version have gone up by Rs 15,000-24,000 while the diesel prices have been hiked by Rs 15,000-30,000 depending on model. The Altis petrol is now priced from Rs 10.53 lakh to Rs 14.77 lakh while the diesel variant starts at Rs 11.46 lakh to Rs 14.55 lakh; all prices ex-showroom Delhi.

RENAULT TO GIVE BIRTH ITS NEW DUSTER IN 2012

Renault has confirmed that it's budget SUV the Duster will be launched in the Indian market. The SUV is expected in the second half of next year.

The Duster shares its platform with the Logan (now Verito) saloon. It will feature a 1.5-litre diesel motor which will be updated to deliver 107bhp and will come mated with a six-speed gearbox. Renault recently showcased the Duster at the Buenos Aires Motor Show with upgraded interiors; this should be seen on the Indian-market Duster as well.



Renault has been tightlipped about the Duster as they were targeting an aggressive price tag which required many meetings with suppliers to get parts at the right price. The Duster will be produced at Renault's Chennai plant. The Duster is expected to be priced between Rs 7-8 lakh.


Renault has plans of launching as many as five vehicles in a period of just 15 months. The French car-maker has already launched its flagship; the Fluence last month, the next offering is the Koleos premium SUV that will take on the likes of Honda's CR-V, Mitsubishi’s Outlander and its sibling the Nissan X-Trail. Renault also revealed that it also has plans to manufacture a compact car that will be built on an Alliance platform.

Renault currently has 14 dealerships in India and aims to increase this number to 40 by the end of the year and reach 100 by end of next year.

American Airlines in talks for 100 Airbus planes

(Reuters) - AMR Corp's (AMR.N) American Airlines, the operator of an all-Boeing (BA.N) jet fleet, is in talks with Airbus (EAD.PA) about buying at least 100 narrow-body planes, Bloomberg reported, citing people familiar with the matter.

A decision by the board of AMR, the third-largest U.S. carrier, may come as soon as July, the report said, adding that the jets from Airbus's A320 series would replace less-efficient aircraft such as Boeing 757s and MD-80s.

An A320 has a list price of $85 million, giving a potential American order a value of about $8.5 billion, according to the report.

Representatives of American Airlines and Airbus were not available for comment outside of U.S. business hours.

British Airways expands flights to Rio de Janeiro

British Airways is increasing its services to Brazil by doubling its weekly frequency to Rio de Janeiro from three to six flights. Flights to Rio de Janeiro will now depart Heathrow for Rio every day, except Mondays. The departure time remains at 12.15pm, landing in Rio at 9.55pm local time. The flight will continue to be served by a three class B777, enabling customers to choose from 3- classes mentioned below:

1. World traveller-Economy class
2. World Traveller Plus-Premier Economy class
3. Airline's fully flat beds in club world- business class

Neil Cottrell, British Airways’ head of network planning, said: “We are experiencing a real increase in demand for Rio and by doubling the number of frequencies, we are able to offer our customers more choice and greater availability. Brazil is also experiencing strong economic growth and this capacity increase is a great opportunity for British Airways to be part of that growth.”

Holidays in Rio de Janeiro offer visitors white sandy beaches, rainforest clad mountains and cultural must-sees including the famous Christ the Redeemer statue. British Airways offers a choice of hotels including the 3 star Center for a comfortable stay or the 5 star InterContinental Rio next to the Gvea Golf Club and the Fashion Mall shopping centre. The 5 star Porto Bay Rio Internacional has a rooftop swimming pool and views of the beach while the 5 star Copacabana Palace offers luxurious accommodation opposite the famous Copacabana Beach.