February 25, 1993

The Economy The sharp decline in long-term interest rates has prompted corporations, homeowners, states and municipalities to refinance debt, which will save money and help the economy. [ Page A1. ] Congress is expected to approve an economic stimulus by early April. But tax increases and spending cuts will not be voted on conclusively until this summer at the earliest. [ A16. ]

NEW YORK CITY WOMAN SLAIN AT BRONX COURTHOUSE A woman accompanying her husband to his court appearance on a drug case was shot and killed by a gunman clad in a camouflage jacket and bulletproof vest inside the vestibule of the Bronx County Building, the police said. The police were investigating whether the killing was linked to the slayings of six people in a Bronx apartment on Feb. 14. A1.

After two months of relative calm, the Somali capital exploded in violence today, as thousands of partisans of a major warlord stormed the streets, looting, burning tires, hurling rocks and menacing foreigners. The rioting paralyzed the city, stopping traffic at the seaport and the airports, and choked some streets in a spree of looting and destruction. More important, it appeared to be a major setback to a rapid withdrawal of American soldiers and to a United Nations takeover of the foreign troop presence, which is scheduled for April.

I.B.M. said yesterday that it expected to lay off some employees when it eliminates 500 jobs at its corporate headquarters next month. The layoffs would be the first ever for the computer maker, which has a 79-year tradition of virtual lifetime employment.

More than 45,000 Hindus across India have been arrested as they tried to travel toward the capital in response to a call from the main Hindu political party to join a huge demonstration later today aimed at forcing the Government to resign. For the first time in decades, the center of this city has been sealed off from the rest of the country by heavily armed troops and miles of steel pipe and barbed wire barricades in an effort to prevent an enormous demonstration by supporters of the Hindu party.