1Optimism is growing over New Zealand's economic future.

2The long-awaited document on the Government's proposal for a Capital Gains Tax (CGT) will be released this afternoon.

3It is being reported that at least 1000 people have been killed in prodemocracy protests in Romania.

4Nobel Peace Prize winner Andrei Sakharov has been buried in the Soviet Union following a funeral attended by thousands of mourners.

5The Archbishop of Canterbury, Dr Robert Runcie has criticised Britain's policy of forced repatriation of Vietnamese boatpeople from Hong Kong. Pope John Paul II also made a thinly veiled criticism of the policy yesterday. Meanwhile, discussions are underway to determine who from Hong Kong will be granted the right to live in the United Kingdom once China takes over administration of Hong Kong in 1997.

6Diana, Princess of Wales, has shown her concern for the plight of British hostage John McCarthy, who is being held captive in Lebanon.

7Difficult relations between the United States and Panama have been strained even further by the weekend shooting of an American serviceman.

8A group of scuba diving Santas in Laguna Beach, California decorated their Christmas tree underwater.

9The official results of Brazil's first Presidential election in 29 years are due to be announced sometime today.

10In an effort to break into Europe, Fletcher Challenge has made an $800 million takeover bid for British paper manufacturer UK Paper.