ACT storms spoil fireworks display

FIERCE thunderstorms across Canberra have prompted almost 300 calls for help and forced the cancellation of the city's Australia Day fireworks.

The ACT State Emergency Service (ACTSES) said the storms, which lashed the city from around 6.30pm (AEDT), left flash flooding, fallen power lines and tree branches in their wake.

Most of the 295 calls for assistance came from residents in the northern suburbs, ACTSES said.

The ACT government cancelled the city's planned fireworks display, saying in a statement it was a necessary safety precaution due to the storms and flooding.

ACTEW AGL electricity crews were also fixing isolated power outages across the territory.

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Mali Islamists say ready for hostage talks

AN al Qaeda-linked Islamist group in Mali says it is ready to negotiate the release of a French hostage, as a French-led offensive to rout Islamists from the north gathered steam.

"The MUJAO is ready to negotiate the release of Gilberto," said Walid Abu Sarhaoui by phone, spokesman for the Movement for Jihad and Oneness, referring to Gilberto Rodriguez Leal who was kidnapped in November.

The spokesman, speaking on the 16th day of the French-led campaign which has halted the Islamist advance south, said: "We Muslims can come to an understanding on the issue of war."

Gilberto Rodriguez Leal, a 61-year-old French national of Portuguese origin, was seized on November 20 by armed men in western Mali near the border with Senegal and Mauritania while travelling by car.

His kidnapping was claimed by MUJAO.

A total of seven French hostages are being held in the Sahel, of whom six are captives of al-Qaeda in the Islamic Maghreb.

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China's New Year migration begins

THE world's largest annual migration has began in China with tens of thousands in the capital boarding trains to journey home for next month's Lunar New Year celebrations.

Passengers will log 220 million train rides during the 40-day travel season, the Ministry of Railways estimates, as they criss-cross the country to celebrate with their families on February 10.

Many spend weeks at home for the most important holiday of the Chinese calendar, with the travel period spanning about two weeks before and after the Lunar New Year, also known as Spring Festival.

Travellers streamed into Beijing Railway Station on Saturday afternoon carrying heavy bags and boxes, while one man had strapped to his back a sack twice as thick and nearly as tall as him.

Just as making the trip home can be laborious - often lasting one or two days - so can simply acquiring a seat on the train, and every year complaints arise about the inefficiency or unfairness of the system.

For the second year in a row, New Year's travellers have been able to purchase tickets online and avoid long queues.

But those without internet access were shut out while tech-savvy buyers used plug-ins and other software to facilitate purchases, leading some trips to sell out in minutes and prompting complaints.

One traveller heading home from Beijing to eastern Zhejiang province said it took him seven days to book a ticket online, while a migrant worker said he did not even know how to use a computer.

But the queues at station counters commonplace in previous years weren't seen on Saturday, and people mostly appeared to be picking up tickets before heading home.

Police, some armed with machine guns, kept watch over the massive flows of people. About 70,000 officers were deployed to train stations nationwide on Saturday, the Xinhua state news agency reported.

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14 killed after Egypt soccer verdict

FOURTEEN people have been killed in riots outside the main prison in Port Said following a controversial verdict related to one of the world's deadliest incidents of soccer violence.

Two police were shot dead outside the prison when angry relatives tried to storm the facility to free the defendants on trial, 21 of whom were earlier sentenced to death.

The death toll has risen to 14 after the clash, in which police fired tear gas and rubber bullets at the crowd outside the prison.

At least 75 people were injured.

Egyptian security officials say the military is being deployed to the city.

Port Said residents also cut off the main road leading to the city.

Officials spoke anonymously in line with regulations.

Earlier in the courtroom, families of the deceased wailed and raised their hands in the air shouting "Allahu Akbar", Arabic for "God is great".

The judge said in his statement read live on state TV that he would announce the verdict for the remaining 52 defendants on March 9.

Among those on trial are nine security officials.

The soccer melee on February 1, 2012 between Port Said's Al-Masry fans and Cairo's Al-Ahly fans was the world's deadliest soccer violence in 15 years, killing 74 people.

As is customary in Egypt, the death sentences will be sent to a top religious authority, the Grand Mufti, for approval.

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Fire rips through Hobart's Queens Domain

A LARGE fire is spreading from hilly bushland just northeast of Hobart's CBD.

The fire was moving uphill from the northeast side of the Queens Domain, fanned by strong winds, Tasmania Police said at 10.30pm (AEDT) on Thursday.

Motorists are being urged to avoid the area and be mindful of police directions and firefighting operations.

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Nokia reports return to profit

NOKIA Corp has reported a fourth-quarter net profit of $US270 million after a net loss of more than $US1 billion a year earlier, but revenue in the period fell 20 per cent.

The ailing Finnish company gave a poor outlook saying it expected operating margins in the first quarter 2013 to be "approximately negative two per cent, plus or minus four percentage points," citing increased competition as it struggles against the dominance of market leaders Samsung and Apple.

Nokia said it sold 15.9 million smartphones in the quarter, down from 19.6 million a year earlier.

The company's share price was up some three per cent in Helsinki.

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Man shot twice in leg in Sydney's west

A MAN has been taken to hospital after being shot twice in the leg in Sydney's west.

Emergency services personnel were called to Lavinia Street in South Granville at around 9.30pm (AEDT) on Thursday, following reports that a man had been shot.

Upon arrival officers found a man with two gun shot wounds to his leg, police said.

He has been taken to Westmead Hospital for treatment to non-life threatening injuries.

A crime scene has been established and investigations are continuing.

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Asian markets mixed, weak yen lifts Tokyo

ASIAN markets have closed mixed despite a positive lead from Wall Street and news that Chinese manufacturing activity hit a two-year high in January.

The yen retreated after a two-day rally as Japan logged a record trade deficit for 2012, with exports hit by the ongoing territorial spat with China and Europe's long-running debt crisis.

Tokyo reversed early losses thanks to the yen's dip, with the Nikkei up 1.28 per cent, or 133.88 points, at 10,620.87 at the close on Thursday. Sydney rose 0.47 per cent, or 22.4 points, to 4,810.2, but Seoul shed 0.8 per cent, or 15.93 points, to 1,964.48.

Shanghai fell 0.79 per cent, or 18.31 points, to 2,302.6, with profit-takers moving in after the index hit an eight-month high in intra-day trade. Hong Kong shed 0.15 per cent, or 36.20 points, to 23,598.9.

In China HSBC said its preliminary purchasing managers index (PMI) rose to 51.9 in January from 51.5 in December, its highest since January 2011.

Anything above 50 indicates growth while anything below is contraction.

The news reinforces views that the world's number-two economy has picked up after a drawn-out slumber.

The results provided a fillip to Japan's Nikkei, while data showing Japan suffered a second-consecutive annual trade deficit in 2012 sent the yen tumbling, providing shares with another lift.

Official figures from the finance ministry showed Japan's trade shortfall totalled Y6.92 trillion ($A74.21 billion), with the deficit in December alone standing at a higher-than-expected Y641.5 billion.

The yen had enjoyed a two-day rally from Tuesday and equities slumped, after the Bank of Japan (BoJ) disappointed dealers with its two per cent inflation target and indefinite monetary easing, which they said was not enough.

In afternoon currency deals the greenback bought Y89.32, compared with Y88.56 in New York late on Wednesday. The dollar, however, is still down from the two-and-a-half-year high Y90.24 before the BoJ move.

The euro bought Y118.70 from Y118, and $US1.3298 from $US1.3315.

The three main indexes on Wall Street ended higher after a string of upbeat earnings from firms including IBM and Google.

The Dow ended up 0.49 per cent, at its highest level since October 2007, while the S&P 500 advanced 0.15 per cent and the Nasdaq climbed 0.33 per cent.

However, after US markets closed Apple released flat October-December first quarter earnings and sales of key products such as the iPhone 5 came in below expectations.

The iPhone 5 made a lacklustre debut in China and an analyst reported that Apple had cut orders for smartphone parts.

Wednesday's results sent shares in the computer giant slumping more than 10 per cent in after-hours trade.

Regional firms linked to Apple ended mixed on Thursday after beginning the day in negative territory.

Supplier LG Display fell 1.21 per cent in Seoul, but in Tokyo TDK added 0.96 per cent and telecoms firm Softbank, which sells the iPhone, was up 0.27 per cent.

South Korean shares were also hurt by data showing the economy grew two per cent in 2012, its slowest pace in three years, owing to overseas turmoil and soft demand at home.

Oil prices were mixed. New York's main contract, WTI light sweet crude for delivery in March, gained 15 cents to $US95.38 a barrel in the afternoon while Brent North Sea crude for March delivery dropped 18 cents to $112.62.

Gold was at $US1,677.37 at 1040 GMT (2140 AEDT) compared with $US1,691.66 late on Wednesday.

In other markets:

- Taipei fell 0.62 per cent, or 48.19 points, to 7,695.99.

TSMC fell 1.09 per cent to Tw$99.9 while HTC was 0.88 per cent lower at Tw$281.0.

- Manila closed 0.41 per cent higher, adding 24.74 points to 6,117.27.

Ayala Corp rose 2.26 per cent to 542 pesos, Metro Pacific Investments added 1.25 per cent to 4.86 pesos and Philippine Long Distance Telephone was 0.22 per cent up at 2,792 pesos.

- Wellington was flat, edging up 2.19 points to 4,189.91.

Telecom rose 0.86 per cent to NZ$2.34, Fletcher Building was down 1.61 per cent at NZ$9.19 and Contact Energy was steady at NZ$5.20.

- Singapore closed up 0.53 per cent, or 17.16 points, to 3,248.39.

Singapore Telecommunications gained 1.17 per cent to Sg$3.47 and Oversea-Chinese Banking Corporation added 0.31 per cent to Sg$9.70.

Bangkok added 0.69 per cent or 9.89 points to 1,449.09.

- Airports of Thailand gained 4.69 per cent to 111.50 baht, while Bangchak Petroleum edged up 6.62 per cent to 36.25 baht.

- Mumbai fell 0.51 per cent, or 102.83 points to 19,923.74.

- Jakarta and Kuala Lumpur were closed for public holidays.

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Netanyahu scrambles to keep his job

Benjamin Netanyahu's rightwing Likud-Beitenu list has won the Israeli election by a narrow majority. Source: AAP

A BADLY weakened Prime Minister Benjamin Netanyahu is scrambling to keep his job after Israeli elections resulted in an unexpected deadlock.

The rightwinger is extending his hand to a new centrist party advocating a more earnest push for peace with Palestine.

With 99.5 per cent of the vote counted on Wednesday, the deadlocked election results defied forecasts Israel's next government would veer sharply to the right.

Israeli media said each bloc had 60 of parliament's 120 seats. Commentators said Netanyahu, who called early elections three months ago expecting easy victory, would be tapped to form the next government because the rival camp drew 12 of its 60 seats from Arab parties traditionally excluded from coalition building.

A surprising strong showing by a political newcomer, the centrist Yesh Atid party, dealt a setback to Netanyahu.

Yesh Atid's leader, Yair Lapid, has said he would only join a government committed to sweeping economic changes and a serious push to resume peace talks with the Palestinians, which have languished throughout Netanyahu's four-year tenure.

The results were not official, and the final bloc breakdowns could shift before the election committee finishes its tally early on Thursday.

With the blocs so evenly divided, there remains a remote possibility Netanyahu would not form the next government, even though both he and Lapid have called for the creation of a broad coalition.

Under Israel's parliamentary system, voters cast ballots for parties, not individual candidates. Because no party throughout Israel's 64-year history has ever won an outright majority of parliamentary seats, the country has always been governed by coalitions.

Traditionally, the party that wins the largest number of seats is given the first chance to form a governing alliance in negotiations centring on promising cabinet posts and policy concessions.

If those negotiations are successful, the leader of that party becomes prime minister. If not, the task falls to a smaller faction.

President Shimon Peres has until mid-February to set that process in motion, though he could begin earlier.

Netanyahu's Likud-Yisrael Beitenu alliance polled strongest in Tuesday's election, winning 31 parliamentary seats. But that is 11 fewer than the 42 it held in the outgoing parliament and below the forecasts of 32 to 37 in recent polls.

Yesh Atid had been projected to capture about a dozen seats but won 19, making it the second largest in the legislature.

Addressing his supporters early on Wednesday, when an earlier vote count gave his bloc a shaky, one-seat parliamentary margin, Netanyahu vowed to form as broad a coalition as possible.

He said the next government would be built on principles including reforming the contentious system of granting military draft exemptions to ultra-Orthodox Jewish men and the "responsible" pursuit of a "genuine peace" with the Palestinians. He did not elaborate, but the message seemed aimed at Lapid.

Netanyahu called Lapid early on Wednesday and offered to work together.

"We have the opportunity to do great things together," Likud quoted the prime minister as saying.

Lapid also called for the formation of a broad government.

The election results surprised Israelis, given the steady stream of recent opinion polls forecasting a solid hard-line majority and a weaker showing by centrists.

Lapid said the election outcome reflected a longing for unity in a country beset by schisms.

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India panel calls for protection for women

AN Indian panel has presented a report to the government recommending changes in the law and criminal procedures to protect women in the wake of a fatal gang rape in New Delhi last month.

The three-member panel was set up by the government following an outpouring of anger sparked by the rape.

Retired Chief Justice JS Verma who headed the panel said on Wednesday that strict punishment would act as a deterrent to prevent sexual harassment and assaults against women. The panel also called for reforms in how police treat rape victims.

The panel received more than 80,000 suggestions from activists and ordinary citizens for a complete overhaul in the criminal justice system's treatment of violence against women.

The suggestions are expected to lead to amendments in criminal laws.

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More poor health than good in UK: survey

THE findings of a new medical study in Britain could go some way toward explaining the colloquial whingeing Pom.

A survey conducted by Spire Bristol Hospital found the average British person spends just a sixth of the year feeling 100 per cent healthy.

Residents of the UK complained of ailments including colds and ear infections, cricked necks, bitten tongues and backaches which plagued some 300 days of their year.

The findings come from a poll of 2000 people, which also showed a quarter of respondents had a condition that is ongoing.

"While people often adopt a 'grin and bear it' approach, it's important to recognise what's easily treatable and can relieve us from a lot of unnecessary suffering day to day," hospital director Rob Anderson told British newspaper The Daily Telegraph.

Survey results also show that people feel run-down for at least two days each week, with 11.35am on Monday being the most common time for people to feel ill.

Saturday lunchtime sees Britons feeling their most healthy.

Headaches are high on the list of complaints, closely followed by back pain, and discomfort from an old sports injury.

The survey also found that in an average year, residents of the UK will experience two ear infections, five bouts of heartburn, an eye infection, three bitten tongues and five cricked necks.

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Tokyo extends losses as Asia markets fall

MOST Asian markets have closed lower, in spite of a Wall Street rally.

Tokyo's Nikkei fell 2.08 per cent, or 222.94 points to 10,486.99 on Wednesday and Seoul closed 0.81 per cent lower, losing 16.11 points to 1,980.41, but Sydney rose 0.18 per cent, or 8.7 points, to 4,787.8.

Hong Kong eased 0.1 per cent, shedding 23.89 points to 23,635.10 and Shanghai ended up 0.25 per cent, or 5.77 points, at 2,320.91 thanks to a late rally.

Japan's Nikkei was hit after the central bank said on Tuesday it would fall into line with the new government and set a two per cent inflation target, while also launching an unlimited asset-buying scheme from next year.

The bank also lifted its growth forecast, predicting gross domestic product would expand 2.3 per cent in the year ended March 2014, up from an earlier 1.6 per cent estimate.

But the bank's moves were in line with expectations, which have seen the yen tumble against the dollar and euro, in turn sending equities flying higher.

"The monetary policy announcement came so completely within range of market expectations that it rang as a disappointment," SMBC Nikko Securities general manager of equities Hiroichi Nishi told Dow Jones Newswires.

The yen began rising soon after Tuesday's announcement and rose further in New York trade. However, it stabilised in Tokyo early on Wednesday.

The greenback - which hit a two-and-a-half-year high of Y90.24 before the Bank of Japan (BoJ) move - bought Y88.36 in afternoon trade, against Y88.68 yen in New York on Tuesday.

The euro - which topped Y120 last week - slipped to Y117.53 on Wednesday, from Y118.14 in New York and to $US1.3298 from $US1.3321.

Regional markets were largely unaffected by healthy gains on Wall Street on Tuesday following a long weekend, thanks to stronger-than-expected earnings results, including from The Travelers Companies and DuPont.

The Dow rose 0.46 per cent, the S&P 500 added 0.44 per cent and the Nasdaq ended up 0.27 per cent.

Oil prices were slightly up, with New York's main contract, light sweet crude for delivery in March, up two cents to $US96.70 a barrel and Brent North Sea crude for March delivery up three cents to $US112.45.

Gold was at $US1,691.66 at 1100 GMT (2200 AEDT) compared with $US1,692.41 late on Tuesday.

In other markets:

- Wellington was flat, edging up 0.64 points to 4,187.72.

Telecom fell 2.1 per cent to NZ$2.32 and Fletcher Building rose 0.5 per cent to NZ$9.34, while Air New Zealand was unchanged at NZ$1.24.

- Manila fell 0.20 per cent, or 12.37 points, to 6,092.53.

- Taipei fell 0.19 per cent, or 14.92 points, to 7,744.18.

Hon Hai Precision was 0.47 per cent lower at Tw$85.0, while HTC shed 2.07 per cent at Tw$283.5.

- Singapore closed up 0.35 per cent, or 11.37 points, to 3,231.23.

Real estate developer Capitaland gained 0.52 per cent to Sg$3.89 and Singapore Airlines gained 1.28 per cent to Sg$11.10.

- Kuala Lumpur gained 6.59 points, or 0.4 per cent, to close at 1,635.25.

Public Bank added 0.6 per cent to 15.70 ringgit, and Kuala Lumpur Kepong rose 0.5 per cent to 21.80. UEM Land Holdings fell 0.5 per cent to 2.14 ringgit.

Jakarta closed up 2.18 points, or 0.05 per cent, at 4,418.73.

- Bank Negara Indonesia rose 1.32 per cent to 3,850 rupiah and mobile phone provider Indosat climbed 0.75 per cent to 6,700 rupiah, while palm oil producer Astra Agro Lestari slipped 0.26 per cent to 19,250 rupiah.

Bangkok added 0.36 per cent or 5.11 points to 1,439.20.

- Airports of Thailand jumped 7.58 per cent to 106.50 baht, while telecoms firm True Corp. gained 2.61 per cent to 5.90 baht.

- Mumbai was up 0.23 per cent, or 45.04 points, to 20,026.61.

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Miners worried about China slowing: report

THE mining industry is worried a potential slowdown in China and is making less effort to attract the most qualified workers, a report shows.

The global survey of 374 mining companies comes only days after official Chinese data showed the economy for Australia's largest trading partner grew by 7.8 per cent in the year to December 2012.

The result was an improvement on the previous quarter but the annual Mining Executive Insights report for 2012, by US industrial firm Ventyx, shows the resource sector is cautious about the global economy.

"Encouraging signs of new growth, albeit limited, in North America are offset by uncertainty in the EU and a potential slowdown of the Chinese economy, all of which translate into unpredictability for the mining sector," the report said.

As a result, mining companies are shifting from finding the most qualified workers to improving efficiencies.

Mining companies are also focusing more on expanding operations at existing sites instead of developing new sites, citing regulatory burdens as an impediment to ramping up new operations.

When it comes to challenges, workforce safety was cited as the most important concern for miners, with 31 per cent of surveyed recipients nominating it as their top priority.

This was followed by managing capital projects (25 per cent), maximising production effectiveness (21 per cent) and equipment reliability (8 per cent).

The report did not reveal which mining companies had taken part in the study, but coal, iron ore and copper operators were surveyed.

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Penguin head-cam captures bird's eye view

MINIATURE cameras attached to a penguin's head have given Japanese scientists a bird's eye view of the creature's incredible underwater hunting skills.

Using video cameras weighing just 33 grams and equipped with accelerometers, depth gauges and thermometers, researchers were able to see exactly what the Adelie penguin sees when it goes out to catch krill and other prey in its native Antarctica.

Yuuki Watanabe, of the National Institute of Polar Research in Tokyo, said on Tuesday the team were amazed to discover that the bird adapts its hunting behaviour depending on what it is trying to snare.

Watanabe said the accelerometer - a device used in mobile phones, tablet computers and games consoles - allowed researchers to precisely measure the bird's head movements and showed how one penguin could catch two krill in under a second.

"Now we know what the Adelie penguin preys on and how much it eats, we can understand how the penguin survives and how it relates to its environment," he told AFP.

The penguin's fragile Antarctic habitat is at risk from climate change, with scientists warning that as pack ice melts, their numbers could fall dramatically.

Watanabe said the tiny cameras and micro equipment had given researchers a much better understanding of how the penguin lives.

"We now understand how much they rely on those fish that inhabit water just below the sea ice, which means that Adelie penguins can only survive in a sea ice environment," said Watanabe.

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Man's body found in Sydney car park

POLICE are appealing for information following the discovery of man's body in the car park of a Sydney shopping centre.

Police said the body of a man, aged in his 50s, was found in the inner city car park on Broadway at about 5.20pm (AEDT) on Tuesday.

Despite attempts to revive the man, he was not able to be resuscitated, police said.

A crime scene was established, and investigators are awaiting a post mortem to determine how the man died.

Anyone with information should call Crime Stoppers on 1800 333 000.

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Airlines profit from EU carbon tax freeze

AIRLINES have made up to half a billion euros in windfall profits by passing on a carbon surcharge to travellers despite an EU decision to freeze its controversial carbon tax, environmentalists say.

Green group Transport and Environment said on Tuesday that airlines chalked up extra revenues estimated at 486 million euros ($A620 million) even though EU climate commissioner Connie Hedegaard in November decided to "stop the clock" on an EU carbon tax angering the global aviation industry.

She offered to freeze the measure for a year on flights to and from non-European nations amid hopes of negotiating a global CO2 emissions in the framework of the International Civil Aviation Organization (ICAO).

But Transport and Environment said that airlines throughout the year had passed on the cost of their permits to pollute to passengers even though 85 per cent of the permits were allotted free, enabling carriers to make up to 1.3 billion euros in windfall profits in 2012.

And the EU freeze had enabled them to make extra profits, the group said.

"The "stopping of the clock" proposal turns revenues raised by airlines to cover the costs of their CO2 permits into additional windfalls," it said.

Asked for comment, Hedegaard's spokesman said "all we can do is ask for greater transparency in tariffs," said Isaac Valero, spokesman for Hedegaard.

The EU imposed the scheme on January 1 last year, but 26 of ICAO's 36 members, including India, Russia, China and the United States, opposed the move, saying it violated international law.

The EU tax forces airlines operating in the bloc, whatever their flag, to buy 15 per cent of their carbon emissions, or 32 million tonnes, to help battle global warming.

Pay-up time however was due only from 2013, once billing for 2012 had been completed.

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South Africa court convicts Nigeria rebel

A SOUTH African court has found Nigerian rebel leader Henry Okah guilty of masterminding two car bombings in the Nigerian capital Abuja in 2010 that killed 12 people.

Judge Neels Claassen said on Monday that Okah's decision not to testify left evidence against him uncontested and the prosecution had successfully proved he was involved in terrorist activities.

Okah was arrested in South Africa after the attacks which targeted crowds celebrating Nigeria's 50th year of independence from Britain.

The Nigerian Movement for the Emancipation of the Niger Delta (MEND) has distanced itself from Okah since the bombings, though his lawyers have denied he was involved.

Okah ended up in South Africa after accepting an amnesty deal offered by the Nigerian government to MEND.

The rebel group said it was defending the impoverished people of the Niger Delta who see little profit from the vast oil wealth of the region.

It is alleged Okah continued to be involved in terrorist activity in Nigeria from his new base.

South Africa said it did not receive a formal extradition request from Nigeria and put Okah on trial domestically in accordance with local laws.

Sentencing is expected at the end of the month, according to the SAPA news agency.

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Europe bank optimistic over eurozone debt

THE European Bank for Reconstruction and Development (EBRD) has expressed optimism that the worst of the eurozone debt crisis is over, but trimmed its 2013 growth forecast for the ex-Soviet bloc.

The EBRD cut the growth forecast for the countries where it operates to 3.1 per cent this year, the London-based institution announced on Monday in its latest economic outlook.

That compared with the previous estimate in October of 3.2 per cent gross domestic product (GDP) growth.

"Downside risks to the outlook have continued to recede as the likelihood of further deterioration of the eurozone crisis diminishes," the EBRD said in the report.

"Growth in the transition region continued to slow down in the third quarter of 2012, but the deceleration is showing signs of bottoming out."

The economies in the EBRD's investment zone shrank by 2.6 per cent last year, hit by fallout from the long-running eurozone sovereign debt crisis, after impressive expansion of 4.6 per cent in 2011.

"For the first time in a long while we are now seeing the possibility of a reduction in the risks facing emerging Europe, especially the risks from the eurozone," said EBRD chief economist Erik Berglof.

"It is too early to sound the all-clear but there are signs of stabilisation," Berglof added.

The EBRD was formed in 1991 to help former Soviet bloc countries switch to a market economy, and invests alongside private-sector firms.

It agreed earlier last year to expand its reach into emerging Arab democracies.

In May, it approved the pumping of one billion euros ($A1.15 billion) into nations in the Middle East and North Africa region, at the lender's annual meeting.

At the same time, the group appointed its first British president, veteran civil servant Suma Chakrabarti.

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Asian markets mixed ahead of Japan meeting

ASIAN markets have closed mixed, with Tokyo's Nikkei hit by a stronger yen and profit-taking, while dealers await the outcome of a policy meeting at the Bank of Japan.

Wall Street provided a strong lead, with the Dow and S&P 500 hitting more than five-year highs on Friday after Republicans proposed a three-month increase to the US debt ceiling in order to agree a budget and long-term spending cuts.

Tokyo's Nikkei, which hit a 33-month high on Friday, fell 1.52 per cent, shedding 165.56 points to 10,747.74. Sydney closed up 0.13 per cent, or 6.3 points, at 4,777.5.

Seoul ended flat, dipping 0.99 points to 1,986.86. Hong Kong was also barely changed, edging down 10.87 points to 23,590.91.

Chinese shares closed up 0.48 per cent, extending Friday's gains after Beijing released data showing the economy grew faster than expected last year. The benchmark Shanghai Composite Index rose 11.15 points to 2,328.22 on turnover of 113.0 billion yuan ($A17.41 billion).

Policymakers at Japan's central bank on Monday began a two-day meeting that markets widely expect will see them adopt a two per cent inflation target and unveil more monetary easing.

The yen has tumbled in recent months - sending the stock market surging - since Shinzo Abe promised before December's election that he would urge the bank to be more aggressive in its battle to save the economy.

Abe swept to power in the poll and has since moved to bring BoJ policies into line with his new government's position.

"All eyes are on the Bank of Japan, which should come through to meet expectations for more easing and some kind of inflation target rhetoric," said SMBC Nikko Securities general manager of equities, Hiroichi Nishi.

However, with dealers having already priced in such moves by the bank, the yen clawed back some of its recent losses on Monday.

The dollar, which on Friday in New York hit Y90.24 - its highest since June 2010 - bought Y89.50 in early European trade on Monday.

The euro eased to Y119.20 from Y119.96 in New York. It was at $US1.3320, compared with $US1.3317.

US shares closed with a rally on Friday after the Republican offer to increase the nation's borrowing limit while a budget is agreed, providing hope that rival politicians will be able to reach a long-term fiscal agreement.

The government is due to reach its limit around the end of February, while politicians also have to agree on spending cuts that were put off as part of a fiscal cliff deal agreed at the start of the year.

On Wall Street the Dow rose 0.39 per cent and the S&P 500 added 0.34 per cent, with both indexes hitting highs not seen since December 2007. The Nasdaq finished flat.

Oil prices eased. New York's main contract, light sweet crude for delivery in February, shed 48 cents to $95.08 a barrel in the afternoon and Brent North Sea crude for March delivery dropped 33 cents to $111.56.

Gold was at $US1,688.89 at 1100 GMT (2200 AEDT) compared with $1,689.88 late on Friday.

In other markets:

- Singapore closed up 0.31 per cent, or 10.10 points, at 3,221.32.

DBS Bank gained 0.14 per cent to Sg$14.40 and Fraser and Neave, the subject of a takeover tussle between Thai and Indonesian tycoons, gained 1.67 per cent to Sg$9.74, well above the highest offer of Sg$9.55 a share.

- Taipei eased 0.1 per cent, or 7.95 points, to 7,724.92.

Taiwan Semiconductor Manufacturing Co was 0.99 per cent lower and leading integrated circuits design house MediaTek gained 2.43 per cent to Tw$316.5.

- Manila added 0.53 per cent, or 32.49 points, to 6,171.70.

- Wellington rose 0.5 per cent, or 21.00 points, to 4,185.18.

Contact Energy was up 0.58 per cent at NZ$5.19, Telecom added 1.07 per cent to NZ$2.37 and Fletcher Building gained 1.64 per cent to NZ$9.30.

- Jakarta fell 0.57 per cent, or 25.51 points, to 4,439.97.

Palm oil firm Sinar Mas Agro Resources & Technology rose 3.08 per cent to 6,700 rupiah and cigarette producer HM Sampoerna jumped 6.6 per cent to 63,000 rupiah, while retailer Ramayana Lestari Sentosa dropped 2.52 per cent to 1,160 rupiah.

- Kuala Lumpur tumbled 2.43 per cent, or 40.81 points, to 1,635.63.

- Bangkok climbed 0.42 per cent, or 6.04 points, to 1,440.48.

Telecoms giant True Corp. soared 8.93 per cent to 6.10 baht while industrial group Loxley surged 7.55 per cent to 5.70 baht.

- Mumbai rose 0.31 per cent or 62.78 points to 20,101.82 points.

Reliance Industries jumped 2.35 per cent to 920.05 rupees, while ITC gained 1.25 per cent to end at 290.65 rupees.

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Snow causes delays at European airports

SCORES of fights have been cancelled as snow and ice blanket much of Europe.

London's Heathrow airport says it has cancelled about 130 flights on Monday, 10 per cent of the daily total, compared to 20 per cent on Sunday.

Hundreds of schools are closed across Britain.

British domestic trains and Eurostar services from France and Belgium to London have been disrupted.

Hundreds of flights have been cancelled at Germany's busiest airport in Frankfurt due to heavy snow.

So far, a total 203 flights have been cancelled for the whole day, following 445 cancellations on Sunday, a spokeswoman for airport operator Fraport said.

All flights were cancelled for several hours late on Sunday afternoon, with many inbound services diverted to other airports.

De-icing operations restarted later on Sunday and traffic slowly resumed on a case-by-case basis.

In Munich, which received 13cm of snow overnight, another 200 flights were cancelled, and long delays were expected.

In northern Germany, slick roads outside Berlin caused a stretch of a major highway to be closed down for the Monday morning commute, and the high-speed train that runs through Brussels from Paris to Germany was experiencing long delays.

Forty per cent of flights were canceled at Charles de Gaulle and Orly airports in Paris.

Unusually heavy snowfall of almost 50 centimetres in Moscow caused traffic jams on Monday but did not affect flights at city airports, which are well equipped for snowstorms.

The snowfall over the last four days in Moscow exceeded the average for the whole month of January, Moscow Deputy Mayor Pyotr Biryukov said.

"Over the last four days, 50cm of snow has fallen in Moscow. Since the start of the month, 65cm has fallen, while the average for the first month of the year is 42cm," Biryukov said, quoted by the Interfax news agency.

He added that street cleaners and snow ploughs had removed 2.5 million cubic metres of snow over the last four days.

On Monday morning rush-hour traffic crawled at an average speed of 30km/h and slowed to 10km/h on some highways, a spokesman for the city transport department told Interfax.

The city's three commercial airports were not affected by the weather.

The Russian weather centre warned of a "very cold" week in European Russia.

In Moscow, temperatures were predicted to fall to minus 19C on Monday night and to minus 21C on Tuesday night.

The most extreme temperatures are predicted in Magadan in Far East Russia, where they could fall to minus 49C, and in central Siberia where they could fall to minus 52C.

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Dotcom re-enacts raid for launch party

A HELICOPTER fly-by, men dressed as armed New Zealand police officers, and dancers and singers have all heralded the launch of Kim Dotcom's new "legal" website, Mega.

The new cloud storage website went live at 6.48am on Sunday, about the same time as the dramatic police raid on his Coatesville mansion got underway a year ago. He and three others were arrested on that occasion.

To celebrate the new website's launch, Dotcom hosted about 200 invited guests and media at a party and press conference at the mansion, north of Auckland.

Dotcom, speaking from a stage constructed on the forecourt of his home, told the crowd more than one million people had visited Mega within 14 hours of the site's launch and about 500,000 people had registered as users.

"The launch of Mega is not about mocking any government of Hollywood, it is about our right to innovate and start a new business," he said.

"What we are offering is a smarter, faster and more secure way of cloud storage and we are fully assured by our legal team that we are in compliance with the law."

The press conference, which was also streamed online, included a reenactment of the police raid, with men repelling down the sides of the house and a helicopter, with FBI emblazoned on the side, flying over the crowd.

Dotcom paid tribute to the support he's received from Kiwis in the year since his arrest on copyright infringement, racketeering and money laundering charges related to the file-sharing site Megaupload.

"During the past year we had great support from New Zealanders; you have reached out to us and your voices have empowered us," he said.

Dotcom and his co-accused are still awaiting a court hearing to determine whether they will be extradited to the United States.

The extradition hearing, which has been delayed several times, is expected to take four weeks and is set down for August.

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Vic residents return to bushfire-hit homes

Victorian residents have returned to their bushfire-ravaged homes as fire crews backburn. Source: AAP

RESIDENTS have returned to their bushfire-damaged homes in Victoria's east, as authorities battle to bring a massive blaze under control before more predicted hot weather.

Firefighters took advantage of Sunday's cooler weather to strategically backburn amid fears towns could again be threatened on Thursday.

The massive 56,000-hectare blaze has already killed one man who was found in a burnt-out car and destroyed at least 21 homes since it began in the Baw Baw National Park last Thursday.

There are fears the fire may have been deliberately lit.

Residents in Seaton, Glenmaggie and Glenmaggie Point have returned home.

Glenmaggie resident Peter Monds, a CFA member, was manning phones at a control centre when his home was destroyed.

Inside his uninsured home were many photos and memories.

"There's no good crying about it," he told the Nine Network.

"It's gone, it's gone."

Authorities say 21 houses, 35 sheds and 11 vehicles have been lost in the fire and the fire could go for two weeks.

The fire was threatening the small hamlet of Licola, but it has been held about 15km from the town.

Firefighters began a 180 hectare backburn about 10am (AEDT) on Sunday.

Incident Controller Michael Masters said the CFA and DSE were doing a joint backburn due to the likelihood of a very high fire weather day predicted for Thursday.

"The risk of high temperatures and a north westerly wind poses a very significant risk to the Aberfeldy-Donnely bushfire breaking containment lines if we don't backburn today," he said in a statement.

Mr Masters said the 180 hectare backburn would reduce fuel loads in an unburnt area 5km south of Glenmaggie and 6km northwest of Heyfield.

Fire crews are also working on the eastern perimeter in the Coongulla state forest north east of Glenmaggie to strengthen containment lines.

Police are appealing for people to come forward if they witnessed anything suspicious in the hours before the blaze started at Aberfeldy in Gippsland about 11.30am on Thursday.

They particularly want to speak to anyone who was camping in the Donnelly Creek Road area on Thursday morning or local residents.

Smoke from the bushfires reached Melbourne on Sunday and could be smelt in the CBD air.

Authorities have urged the public to ensure there is actually a bushfire in their area before reporting it to Triple-0.

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Missing sought after deadly end to Algeria

GOVERNMENTS are scrambling to track down missing nationals after the bloody end to a gas plant siege in the Sahara that saw Islamists kill at least 23 foreigners and Algerians, with Algiers fearing the toll may rise.

"I fear that it may be revised upward," Communications Minister Mohamed Said told public Channel 3 radio of the number of dead a day after special forces stormed the remote facility to end a crisis that saw seven foreigners killed by their captors in the final moments.

British Prime Minister David Cameron said in a statement on Sunday he had spoken to his Algerian counterpart Abdelmalek Sellal, "and it is now clear that this appalling terrorist incident in Algeria is now over.

"Tragically, we now know that three British nationals have been killed, and a further three are believed to be dead. And also a further British resident is also believed to be dead."

Colombian President Juan Manuel Santos said on Saturday a Colombian man who lived in London with his family had been killed. He was named as BP employee Carlos Estrada.

Japanese engineering firm JGC Corp said 10 of its Japanese and seven of its foreign workers remained unaccounted for.

JGC confirmed the safety of 61 of its 78 workers at the In Amenas facility stormed at dawn on Wednesday by militants from "Signatories in Blood," a group demanding an end to French military intervention in Mali.

"But the safety of the remaining 10 Japanese and seven foreign workers is yet to be confirmed," a JGC spokesman said in Tokyo.

Kuala Lumpur said JGC had told it one of two Malaysians still unaccounted for is dead whilst the fate of the other was unknown.

Norway's Statoil, which operates the gas plant alongside Britain's BP and Sonatrach of Algeria, said the situation remains "unresolved" for five Statoil employees.

"We will, and we must, keep hoping for more positive news from Algeria. However, we must be prepared to deal with bad news in the next few days," Statoil CEO Helge Lund said.

Thirty-two kidnappers were also killed in the 72-hour stand-off, and the army freed "685 Algerian workers and 107 foreigners", Algeria's interior ministry said on Saturday.

Among the dead were an unknown number of foreigners.

Relatives of Kenneth Whiteside, 59, from Glenrothes in Scotland, were "devastated" after hearing an Algerian co-worker claimed to have seen him being shot but dying bravely with a smile, Britain's Mail on Sunday reported.

The mother of survivor Stephen McFaul, 36, from Belfast, told the Sunday Mirror her son will "have nightmares for the rest of his life after the things he saw".

Forced to wear explosives, he fled when the hostage-takers' convoy he was in came under fire on Thursday.

In Saturday's final assault, "the Algerian army took out 11 terrorists, and the terrorist group killed seven foreign hostages", state television said without giving a breakdown.

A security official told AFP it was believed the foreigners were executed "in retaliation".

The militants, whose leader is Algerian Mokhtar Belmokhtar, a former Al-Qaeda commander, first killed a Briton and an Algerian on a bus on Wednesday before taking hundreds of workers hostage when they overran the gas plant.

Most of the hostages were freed on Thursday when Algerian forces launched a first rescue operation which was widely condemned as hasty.

But US President Barack Obama and his French counterpart Francois Hollande said responsibility for the deaths lay with the "terrorists".

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French yachtsman rescued in Southern ocean

THE Antarctic cruise ship The Orion has rescued solo round-the-world yachtsman Alain Delord who has been stranded on a life raft in remote waters southwest of Tasmania since Friday.

A spokeswoman for the Australian Maritime Safety Authority confirmed that Delord, 63, has been picked up by the ship.

Delord, who set off at the beginning of October, abandoned his yacht Tchouk Tchouk Nougaton after it lost its mast and its hull was damaged in rough weather.

The location, about 500 nautical miles southwest of Hobart, was too distant for a helicopter rescue with MSA using three aircraft to maintain contact with the sailor until a vessel can reach him.

The Orion, with 100 passengers and 80 crew on board, was returning from Antarctica and heading for the world heritage-listed Macquarie Island when it responded to the call for help.

Delord had received an air drop of food, water, communications equipment and a survival suit while he waited for his rescue.

The captain of the Orion Mike Taylor reported that Delord was recovered safely and without injury.

He is currently receiving medical attention and early indications are he is healthy.

Weather conditions were better than expected and there was plenty of light in the area that enabled the rescue to go ahead.

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