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All the central bodies have started withdrawing the stimulus packages. On one hand where the increase of excise duties and service taxes are expected in the coming budget, there is bad news for small time exporters too. The headroom for raising foreign currency loans had been increase.

The cap had been raised to Libor plus 350 basis points from Libor plus 100 basis points by the RBI in February 2009. The maximum rates have now been lowered to Libor plus 200 basis points.

Social networking giant Facebook has finally managed to overthrow Yahoo which has now become the second most popular website in the United States by New data released earlier today by web analytics firm Compete. com reveals that there has been a major shift at the top of the web charts.

Bharti traders have not been very upbeat about its acquisition of Zain's African assets to expand. Some have booked profits and exited and some have booked loss and exited. Bharti's global expansion plans have not been very positive for a few investors and the stock has registered a lot of negative trading sessions.

However, the recent decline in stock price has made valuations attractive. It might be a right time for a few long term investors to grab the opportunity and enter into the stock at these lower levels.

The Chairman, Economic Advisory Council, to the Prime Minister's Economic Advisory Council (PMEAC) C Rangarajan suggested a partial roll back of stimulus measures to bring in some correction fiscal measures by increasing service tax and excise duties.

Mr. Rangarajan also suggested adjusting the central expenditure and since ST and excise duties are to be increased for this measure, and thus capital spending on infrastructure would not be affected. The announcement had been made just ahead of the budget of 2010-11 in New Delhi.

Corus, the steelmaker has decided to withdraw the process and shut down its operations of RedCar's blast furnace. The Corus steel plant was established way back 150 years, and now the closing down the furnace will cost at least 1600 jobs at one swipe. However the unions are preparing themselves to call for an industrial action.

The process of decommissioning will take approximately six months, to search for a potential buyer which can give a thought to restart the furnace with an expected amount of £50m.

A reason to snarl for telecom operators in Maharashtra has just come up in form of- Virgin mobile plan. The GSM operator already has spread its branches across states of Karnataka, Andhra Pradesh, Chennai, Tamil Nadu and Kerala circles, and now Virgin mobile has proclaimed to enter the market of Maharashtra stretching itself through Mumbai circles. These circles were already taken care by Virgin Mobile's CDMA network, and now they are looking for a share in the GSM market as well.