The information technology industry suffered most from the ongoing world economic crisis. But it is still optimistic to recover to high growth rate in coming times. IT sector would use the situation for advantage in next growth cycle.

CII President and ICICI Bank CEO, K V Kamath, demanded more measures to improve liquidity conditions in the monetary system of the country. He said that inflation rate is continuously coming down and financial institutions can expect more injection of credit in next policy review of the Reserve Bank.

In the midst of the launch of the new Windows Live services, which included the update to Games for Windows Live yesterday, the Microsoft Store officially opened for US businesses.

Previously, the company opened at UK, Germany, and Korea, and both hardware and software would be sold by Microsoft. Furthermore, it also offers the option to purchase software, either as physical media or as a download.

The store would instantly provide many versions of Vista (both full versions and upgrades) and Office and its related components.

A countersuit has been filed by Apple's iPhone man-in-waiting, Mark Papermaster, against his former employer, in a dispute over a non-compete agreement.

On late Thursday, the court documents were filed in federal court in New York, which claimed that since the two companies are not competitors in the arena where Papermaster will be employed, IBM's non-compete agreement with Papermaster shouldn't apply to his potential employment at Apple.

Recently, the researchers from Canada reported that they have traced a likely owner of a dinosaur nest, left on a river’s edge nearly 77 million years ago. They also claimed that the discovery provides an innovative look at dinosaur reproduction and the evolution of birds.

“The nest, unearthed in northern Montana in the 1990s, likely belonged to one of two types of small, carnivorous dinosaurs,” said Scientists from the University of Calgary and Alberta's Royal Tyrrell Museum.

Thursday witnessed the launch of touch-screen smartphone, ‘Xperia X1’, by Sony Ericson, a 50:50 joint venture between Sony and Ericsson. Carrying a price tag of Rs 44,500, the latest smartphone is equipped with lots of multimedia features. It is basically aimed to serve the needs of the users related to converged entertainment and mobile web communication experience.

Anil Sethi, Sony Ericsson India President, said, “Xperia, aimed to offer energizing communication and premium mobile experience, with the promise of quality and functionality.”