Could someone please recommend a book(s) which would give me a basic insight into the principles and teachings of Islam?

"Thw Way of a Muslim" منهاج المسلم  by Abubaker Al-Jazae'ri is the most comprehensive, direct, right, simple, and easy to understand book for all beginners and even teachers. Read this and you will know all about what is exactly and simply required from a muslim.

http://www.islamhouse.com/47304/en/ar/books/The_Way_of_a_Muslim

I would prefer the translation of Holy Quran like that of Mufti Taqi Usmani, named "The Noble Quran"

It depends on what you are requiring it for, of course that remains a private answer. While the Quran is a perfect fit for anyone wanting to learn about Islam, easier books that simplfy this for everyone do exist. Children's books are a good starting point. There is a book called 'The5 pillars of Islam'. If you're a researcher and not a revert, I would say the quran is rather difficult to comprehend, as it requires an open mind and heart and with a trust in faith. For those with no prior knowledge of Islam, simply looking for research, it can be easily taken out of context. I don't mean this wit any disrespect.bottom line is, if you're a revert then read the quran along side simple text from books written for begging rs like the one suggested by the gentleman. If you're not a revert, then you won't understand the quran to understand the religion. Apologies in advance if I sound offensive or I'm not making sense.