Tear gas fired at teenager's funeral

CLASHES broke out overnight at the funeral of a teenager killed in demonstrations to mark the second anniversary of Bahrain's Shiite-led uprising.

The security forces blocked access to the funeral of Hussein al-Jaziri in the Shiite-populated village of Daih near the capital Manama, firing tear gas and stun grenades to disperse dozens of people trying to push their way through.

Jaziri died on Thursday after being shot in the stomach by security forces, according to Al-Wefaq, Bahrain's main Shiite opposition bloc, during Shiite-led protests against the kingdom's Sunni rulers, in which a policeman also died.

Earlier, the authorities said four people were arrested after an overnight attack on security forces that wounded four policemen.

The attack took place during unrest that began on Friday when protesters blocked a highway linking a string of Shiite villages with the capital.

The interior ministry said in a statement that it had "arrested four terrorists possessing weapons with which they had fired on security forces in Karzakan," a Shiite village southwest of Manama.

A police officer and three policemen were taken to hospital after being wounded "by buckshot fired by a terrorist group," police chief Tarek al-Hassan said in statement.

The security forces "had to respond to the attack to defend themselves," Mr Hassan added, without giving further details of the attack or the police response.

Bahrain has seen two years of political upheaval linked to opposition demands for a real constitutional monarchy, with the unrest claiming at least 80 lives, according to international rights groups.

Thursday's violence, in which Jazira and police officer Mohamed Atef were killed, began with demonstrations to coincide with the actual anniversary of the start of the uprising on February 14, 2011.

Clashes raged sporadically in Shiite villages through the night and into the early hours of Friday.

The latest unrest comes amid a fresh round of a national dialogue between opposition groups and the government.

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'We won't devalue currency' - G20

G20 finance ministers moved to calm fears of looming "economic warfare" on the currency markets.

The jitters - similar to previous disputes with China -- have been set off by Japan's plan of monetary easing to boost inflation and activity by reducing the value of the yen under new Prime Minister Shinzo Abe.

"We will refrain from competitive devaluation. We will not target our exchange rates for competitive purposes," said the communique after the G20 finance meeting meeting in Moscow under Russia's presidency.

It echoed a similar recent statement by the G7 richest nations which like the G20 statement was also approved by Japan, whose monetary policy has been vehemently criticised by the West in recent weeks.

The statement made clear that forex rates should be set by markets, and not intervening governments.

It affirmed the G20's commitment to move "more rapidly toward more market-determined exchange rate systems and exchange rate flexibility to reflect underlying fundamentals."

Striving to give the impression of a united front among the world's top 20 economies, the G20 ministers vowed to "work more closely with one another so we can grow together.

British Finance Minister George Osborne had earlier warned of the dangers of slugging out "economic warfare" as countries tried to outdo eachother with successive devaluations.

"Currencies should not be used as a tool of competitive devaluation. The world should not make the mistake that it has made in the past of using currencies as the tools of economic warfare," the British chancellor of the exchequer said.

European capitals fear that devaluations of currencies like the yen would make their own exports less competitive and harm extremely fragile economic recoveries at home.

For the first time in several international meetings, the concerns over currencies have overshadowed the economic troubles of the debt-ridden euro zone which leaders hope is heading to a gentle recovery.

All the G20 states are to a greater or lesser extent faced with the same dilemma - how to boost fragile growth rates without overextending budget deficits or alienating international partners.

The final communique - as expected - stopped short of giving precise budget deficit targets which many governments would have found too tough to stomach.

But it said that "credible medium-term fiscal consolidation plans will be put in place" and implemented taking into account the economic conditions and fiscal possibilities.

Earlier, Britain, France and Germany also launched a new drive to help national budgets by making big business pay full taxes and not minimise payments through schemes such as offshore companies.

The G20 ministers agreed to take measures to combat corporate tax avoidance in coordination with the Organisation for Cooperation and Economic Development (OECD) which is preparing an action plan on measures to be taken in a coordinated move by national governments.

"We are determined to develop measures to address base erosion and profit shifting, take the necessary collective action and look forward to the comprehensive action plan the OECD will present to us in July," the final statement said.

Profit shifting is the practice of shifting profits from the company's home country to pay less tax under another jurisdiction.

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Big swing against NT govt in by-election

THE Northern Territory government says it has heard the message, after a big swing against it in the by-election for the seat of Wanguri.

Australian Labor Party (ALP) candidate Nicole Manison secured her place in the NT parliament after capturing 69.7 per cent of the two-party vote, late counting showed.

The result was about a six per cent swing towards the ALP from the last election, making the seat now the safest ALP electorate in the NT.

The ALP had called on voters to send a message to the Country Liberal Party (CLP) that rules the NT, and the government said it had heard it.

"This government acknowledges the message contained in the result tonight," NT Chief Minister Terry Mills said.

"We will continue to work with, and engage the community in this period of change."

Commentators had thought it would be tough for the CLP to win Wanguri, which Labor has held since 1989, particularly after recent 30 per cent electricity price hikes and government cutbacks.

The CLP had said the price rises were needed to alleviate the debt held by the public-owned Power and Water Corporation.

But Ms Manison said the result was Territorians sending Mr Mills a message he couldn't ignore.

"People are unhappy with his broken promises and unfair price hikes," she said.

The by-election was sparked by the resignation of former chief minister Paul Henderson.

Counting will continue on Sunday with about 89 per cent of the vote counted so far.

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Pistorius is 'numb with shock and grief'

OSCAR Pistorius' uncle says the Olympic athlete is "numb with shock, as well as grief" over the shooting death of his girlfriend.

Arnold Pistorius spoke with The Associated Press and two South African journalists about his nephew's arrest for the killing of Reeva Steenkamp.

Pistorius remains held at a Pretoria police station over the slaying.

Prosecutors say they will pursue a charge of premeditated murder against him.

Arnold Pistorius said the family "strongly refutes" any murder charge against him, though he did not elaborate on what sparked the shooting on Valentine's Day.

Arnold Pistorius said: "They had plans together and Oscar was happier in his private life than he had been for a long time."

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G20 must pursue jobs and growth: Swan

TREASURER Wayne Swan says Australia will continue to pursue an economic and jobs growth agenda when it takes over the chair of the Group of 20 nations next year.

Mr Swan is attending a G20 Finance Ministers meeting in Russia this weekend where he will also push for the closure of loopholes used by multinational companies to reduce tax.

The treasurer believes the global recovery is now at a critical point, after slumping in the years after the global financial crisis, and is cautiously optimistic about the prospects for 2013.

"It's been a better start to the year than we thought it might be, but it will take the combined efforts of all G20 nations to continue our momentum," Mr Swan will tell his international counterparts in Moscow on Saturday (AEDT time).

The overriding priority must be to support growth and jobs to cement a sustained recovery.

"The fact there are still nearly 200 million people without jobs around the (developed) world is a blight on our global society," he will say.

He welcomed the commitment by this year's G20 chair, Russia, to focus on jobs and growth, and reinforced Australia's commitment to the same agenda in 2014.

But G20 governments also need to pursue responsible medium-term budget frameworks.

"A strong budget is critical to supporting the investments needed to boost growth, along with structural reforms to create a more dynamic and resilient economy," Mr Swan will say.

Ms Swan also notes a renewed global push to tackle climate change among countries, such as the US where President Barack Obama has called on the US congress to pursue a market-based solution.

Mr Swan will also raise the need for the G20 to address the "unscrupulous behaviour" of multinational companies avoiding tax payments.

"This hurts us all," he will say.

"Across the world, a small number of profitable multinational companies are exploiting differences in global taxation regimes to effectively pay no tax."

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Burger King's earnings $US48.6m in Q4

BURGER King's fourth-quarter net income nearly doubled in part because of lower expenses and strengthening results in the US and Canada.

For the three months ended December 31, the hamburger chain earned $US48.6 million ($A47.18 million). That compares with $US25 million a year earlier.

Revenue fell 30 per cent to $US404.5 million from $US580.6 million. Analysts forecast revenue of $US375.3 million.

Burger King Worldwide Inc. has more than 12,900 locations in 86 countries and territories.

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Show with Pistorius' girlfriend to go on

A CELEBRITY reality show featuring the murdered girlfriend of Oscar Pistorius will still be broadcast on South African television despite her death, the producers say.

The pre-recorded show filmed in an exotic location in Jamaica features the blonde model Reeva Steenkamp and several local personalities competing for one million rand ($A110,183) prizemoney.

Producers of Tropika Island of Treasure said they had decided not to shelve the show, which will premiere on Saturday, two days after she was shot dead at Pistorius's home on Valentine's Day.

"As we grieve today with Reeva's family and friends and struggle to make sense of this shocking tragedy, it has taken much deliberation to come to the decision to continue screening Tropika Island of Treasure 5 as planned," executive producer Samantha Moon said in a statement on Friday.

"This week's episode will be dedicated to Reeva's memory."

A weeping Pistorius appeared in a Pretoria court on Friday charged with murder over the killing of his 29-year-old girlfriend.

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BMW recalls more than 30,000 SUVs

BMW is recalling more than 30,000 SUVs to fix an oil leak that can knock out the power-assisted braking.

The German automaker says the recall covers X5 SUVs in the US from the 2007 through 2010 model years. The vehicles were made between September 12, 2006, and March 18, 2010. They have eight-cylinder engines.

The company says a small amount of oil can leak from a brake hose and cause the power-assisted braking to fail. Brakes would still work, but the problem could increase stopping distances and cause a crash.

BMW says it has no reports of crashes or injuries. The problem was discovered when warranty claims increased.

The company will replace a brake vacuum line hose for free. The recall is expected to start this month.

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Danish police find cocaine on N Sea coast

DANISH police say "a considerable amount" of cocaine has washed ashore along the Scandinavian country's North Sea coast.

Police spokesman Hans Roost says German police have made similar findings, adding the drugs could have been washed ashore by currents from a great distance and likely were not intended for the Danish market.

Roost said on Friday the drugs were packed in bags and boxes but would not comment on local media reports that up to 100kg washed up in Denmark alone.

Roost says the street price for one kilogram of cocaine in southwestern Denmark is up to 400,000 kroner ($A69,896), depending on purity.

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Swan to urge G20 to close tax loopholes

FEDERAL Treasurer Wayne Swan is urging the Group of 20 major economies to close tax loopholes that allow profitable multinational companies to exploit differences in taxation regimes to avoid tax.

The Australian government this week introduced amendments to crack down on tax avoidance by global businesses that use complex arrangements and contrived corporate structures to avoid paying their fair share of tax.

Mr Swan, who left Australia on Thursday to attend the G20 finance ministers meeting in Moscow this weekend, said he would be looking for increased co-operation among nations to close those tax loopholes.

"In doing so, these companies leave all the heavy lifting to the businesses and individuals who do the right thing," he said a statement.

"This is not only unfair, but gives those unscrupulous companies a pricing advantage in the market place."

It's a global problem that requires global co-operation, and the G20 - which is responsible for 85 per cent of the world economy - is well placed to take action.

Otherwise, Mr Swan said while there would be some cause for cautious optimism at the meeting, the global recovery was not yet self-sustaining and stronger growth was needed to address the unacceptably high unemployment in many countries.

"Despite our economic strengths, global economic forces continue to impact our economy, with revenues far from recovering from the worst bout of economic turmoil since the Great Depression," he said.

Mr Swan will speak about the issue at a meeting of finance ministers and Russian president Vladimir Putin.

He intends to have separate meetings with Indonesian finance minister Agus Martowardojo and Japanese deputy prime minister and finance minister Taro Aso.

Australia is playing an enhanced role in guiding the G20's work in the lead-up to its G20 presidency in 2014.

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