South Korean trade pact with India going into effect

Seoul - An India-South Korea trade agreement going into effect Friday would immediately eliminate tariffs on 7,044 goods traded between Asia's third- and fourth-largest economies.

South Korea and India signed their comprehensive economic partnership agreement in August after three years of negotiations as Seoul seeks to ink trade deals with the world's largest economies.
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A look at economic developments around the globe

LONDON -- World stocks mostly edged higher as traders headed into the long New Year holiday weekend in a fairly upbeat mood following a nine-month bull run that has seen many markets advance over 50 percent since March. In Europe, the FTSE 100 index of leading British shares closed up 15.02 points, or 0.3 percent, at 5,412.88. That meant it closed out the year 22 percent higher but the decade down 22 percent. Meanwhile, France's CAC-40 ended its shortened session less than a point higher at 3,936.33, finishing the year up around 23 percent but the decade 35 percent lower.
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