Overseas trade paralysed: The indefinite strike launched by employees of Customs House Agents (CHA) in Mumbai entered the fourth day on Monday, paralysing movement of cargoes. The strike is by about 4,000 employees of CHAs operating in Mumbai and Jawarlal Nehru ports and Sahar air-cargo complex.

IBRD, ADB loan repayment:

Almost half of the aid that India received last year from the World Bank and the Asian Development Bank (ADB) has gone back to themultilateral agencies in the form of interest payments on earlier loans, the Union government's finance accounts for 1996-97 reveal. While new debts generated in 1996-97 totalled $1.592 billion, outflow due to interest payments made to the two agencies itself amounted to $726.04 million.

Bullion firms up: Both the precious metals - silver and gold - firmed up on the Mumbai bullion market on Monday. Silver improved on scattered demand from industrial units and supported by higher overseas advices. However, raw silver declined due to increased supplies. Gold prices moved up marginally on stray buying interest. Standard gold edged up to Rs 4,155 from Rs 4,150. 22-carat gold was nominally quoted higher at Rs 3,845 from Rs 3,840.

Steel policy: The centre is formulating a new steel policy to "keep alive" all steel plants in the public sector, Union minister of state for steel and mines Ramesh Bais said in Raipur on Monday. The steel industry was in a bad shape due to sluggish market conditions andstress was being laid on exploring new markets abroad. The public sector steel plants were being directed to function on commercial lines, he added.

Cyclone toll mounts to 1,056: The toll in the cyclone that battered 12 districts of Gujarat last Tuesday has mounted to 1,056 with recovery of 12 more bodies. Chief minister Keshubhai Patel has ordered the state government to speed up search, rescue and relief operations to bring Saurashtra and Kutch regions back to normalcy and urged the centre to set up a commission of inquiry to probe "certain matters" related to the natural calamity.

Will he, won't he?: Bill Clinton's visit to India in November this year is "under review" even as Washington on Monday indicated that its sanctions to the tune of several billion dollars against New Delhi will be "real and serious". The bilateral ties between India and the US are also in for a "difficult patch", though the doors are open for a high-level dialogue, US ambassador to India Richard F Celestesaid.

Monsoons are here: Mumbai bid goodbye to heatwaves and heat-spells with the first downpour of the season heralding in the monsoons on Monday. Rains lashed the western suburbs of the city from 0545 hrs onwards while thunder rumblings were heard in the city's southern skies that were overcast with heavy clouds.