Japan suffered a trade deficit last month as exports sank for the first time in more than two years, dragged down by a slowdown overseas.

Japan's trade deficit totaled 78.7 billion yen ($539 million), the Finance Ministry said Thursday, the first trade deficit for the world's third largest economy in two months.

Global stocks followed Wall Street lower Thursday after notes from a U.S. Federal Reserve meeting dented hopes interest rate hikes are finished.

London, Hong Kong, Paris and Seoul declined. Shanghai and Wall Street futures advanced. Oil prices rose.

China's government is trying to reassure jittery homebuyers after a major real estate developer missed a payment on its multibillion-dollar debt, reviving fears about the industry's shaky finances and their impact on the struggling Chinese economy.

There is no indication Country Garden's problems might spread beyond China, which seals off its financial system from global capital flows, economists say. But they highlight the industry's struggle under pressure from the ruling Communist Party to reduce soaring debt that is seen as an economic threat. That has bankrupted hundreds of small developers and depressed China's economic growth.

The rate of inflation in the U.K. fell sharply in July to a 17-month low largely on the back of lower energy prices, official figures showed Wednesday, a welcome development for hard-pressed households struggling during the cost of living crisis.

The Office for National Statistics said the annual rate of inflation, as measured by the consumer price index, was 6.8% in July, its lowest level since February 2022, the month Russia invaded Ukraine and sent energy prices surging.

The drilling rig Transocean Barents arrived Wednesday morning in Block 9 offshore Lebanon and will start operations in the coming weeks to search for gas, caretaker Minister of Public Works and Transport Ali Hamiyah said.

French firm TotalEnergies, in agreement with its partners Eni and QatarEnergy, had signed a contract to begin drilling and exploring for gas in late August in waters off crisis-hit Lebanon.

Lebanon's interim central bank governor Wassim Mansouri on Monday froze the accounts of the bank's embattled former chief and close relatives and associates days after the United States, United Kingdom and Canada slapped sanctions on them.

Mansouri's decision was made public following a meeting of the central bank's Special Investigation Commission. The commission is in charge of fighting money laundering and terrorism financing. It named former Gov. Riad Salameh, his son Nady, brother Raja, close associate Marianne Hoayek and former partner Anna Kosakova.

Iraqi merchant Mohamed has never seen such a grim tourist season: years of drought have shrunken the majestic Lake Habbaniyah, keeping away the holidaymakers who once flocked there during summer.

"The last two years, there was some activity, but now there's no more water," said 35-year-old Mohamed, asking to be identified by his first name only.

The Russian ruble has reached its lowest value since the early weeks of the war in Ukraine as Western sanctions weigh on energy exports and weaken demand for the national currency.

On Monday, the Russian currency passed 101 rubles to the dollar, continuing a more than 25% decline in its value since the beginning of the year and hitting the lowest level in almost 17 months.

Global stock markets were mixed Monday after stronger U.S. inflation revived worries the Federal Reserve might hike interest rates again.

Shanghai, London and Tokyo declined. Paris, Frankfurt and Wall Street futures rose. Oil prices fell.

A preliminary forensic audit of Lebanon's central bank by professional services firm Alvarez & Marsal (A&M) has painted a damning picture of the institution under long-serving former governor Riad Salameh.