Beijing, Dec. 31 : China''s economy is unlikely to rebound quickly in 2009, and there is further room to loosen the monetary policy, an official from a top government think tank said.

"It will take a while for enterprises to absorb their stock and the economy will continue to decelerate in 2009," Fan Jianping, chief economist of the State Information Center, was quoted by the China Securities Journal, as saying.

Fan said deflationary pressure would appear in 2009. Producer price index is likely to have negative growth in the first half, while consumer inflation may remain low.

Tel Aviv, Dec. 31 : Israel has rejected an immediate 48-hour cease-fire against Gaza militants.

According to Fox News, the Hamas continues to fire rockets close to the country''s heartland, prompting Israel to send warplanes on Wednesday to demolish the smuggling tunnels that serve as the lifeline of the militant outfit.

Gaza officials have put the death toll at 374 since the offensive began on Saturday.

The Hamas says some 200 uniformed Hamas security forces have been killed. The United Nation says at least 60 civilians have died. Four Israelis have been killed by militant rocket fire, including three civilians.

Colombo - The Sri Lankan government has offered a relief package to the public amidst pressure from opposition parties to reduce fuel prices and keep the cost of living low.

The government reduced fuel and gas prices with immediate effect and offered incentives for garment, tea and rubber exporters and tourism as part of the measures.

The two main opposition parties in Sri Lanka - the United National Party and the Marxist JVP has been carrying out a strong campaign to reduce fuel prices after the Supreme Court ruled to reduce patrol prices by 22 rupees per litre (about 20 US cents).

However, petrol prices were reduced by just 2 rupees per litre and diesel and kerosene by 10 rupees per litre.

Washington, December 31 (ANI): The top strange-but-true news story of 2008 was about a Pennsylvania cat lover, who got a smelly surprise when a neighbour''s cat turned out to be a frightened skunk.

Not only did the cat spray the woman, but it also ran into her Mount Carmel home, and it took about several hours for emergency services officials to get the putrid pest out of the house.

Hong Kong - Hong Kong residents have emerged as some of the most pessimistic in the world concerning their expectations for the coming year, according to an online survey published Wednesday.

Around seven out of ten citizens - or 67 per cent - of the former British colony expect 2009 to be worse than this year - almost twice the global figure of 35 per cent.

The survey, carried out by market information group TNS and Gallup International, found Hong Kong people were only equalled in their gloomy outlook by the residents of hard hit Iceland who came joint top in the pessimism table.

London, Dec 31 : Andrew Lloyd Webber has topped the poll of the 100 most influential figures in theatre over the last decade.

The Stage newspaper has named Webber as the most powerful theatre personality in six out of its past ten theatre power charts.

Lloyd Webber, 60, who has had huge success in the West End and Broadway, is best known for creating hit musicals such as `Cats' and `The Phantom of the Opera'.