World News Update, what you need to know

Prime Minister Tony Abbott has delivered his keynote address to world and business leaders at the World Economic Forum in Davos, Switzerland, urging countries to abolish protectionism and open up to more free trade.

ELSEWHERE:

ADDIS ABABA - The South Sudanese government and rebels have signed a ceasefire deal in the Ethiopian capital to end a five-week conflict.

BANGUI - Central African Republic's new interim president Catherine Samba-Panza has been sworn in, tasked with ending horrific sectarian violence and tackling a massive humanitarian crisis.

L'ISLE-VERTE - A massive fire has raged through an old people's home in eastern Quebec, killing at least three people and leaving 30 unaccounted for.

KIEV - Thousands of anti-government protesters have held out in the Ukrainian capital Kiev, as a 24-hour ultimatum by the opposition for President Viktor Yanukovych to step down approaches.

NEW YORK - Elderly US mobster Vincent Asaro has been charged over a 1978 cash and jewellery heist from JFK airport immortalised in the movie Goodfellas.

MIAMI - After allegedly smoking marijuana all day, drinking beer and popping anti-depressants, Canadian pop star Justin Bieber went on a wild pre-dawn drag race in the US that's landed him in jail.