Without reforms, Lebanon will continue to see triple-digit inflation, and public debt in the small, crisis-ridden country could reach nearly 550% of GDP by 2027, the International Monetary Fund warned in a report.

The report came as a follow-up to a nine-day visit by IMF officials in March.

Japan announced a decision Tuesday to reinstate South Korea as a preferred nation with fast-track trade status starting July 21, virtually ending a four-year economic row that was further strained during their bitter historic disputes.

Trade Minister Yasutoshi Nishimura told reporters that Japan and South Korea have also agreed to set up a framework to review and follow up on the systems as needed.

Farmers markets gave people something they desperately sought during the pandemic: A place to shop outdoors, and at the same time support smaller, often local businesses.

The markets are now building on that goodwill as the customers that became regulars and the vendors who set up shop in 2021 and 2022 return for the new season. Back in 2020, the markets were deemed non-essential and had been forced to close. Small vendors ranging from farm stands to dog treat makers say the markets offer them access to customers and a connection to the community.

European Central Bank President Christine Lagarde warned Tuesday that inflation is holding its grip on the economy and underlined that the bank intends to raise rates high enough to "break this persistence."

Lagarde acknowledged that inflation has fallen from all-time highs last year as energy prices plunged and the bank rolled out a rapid series of rate increases, which are meant to fight price spikes by making it more expensive for consumers and businesses to borrow and spend.

Former Audi boss Rupert Stadler was convicted of fraud Tuesday in connection with the automaker's diesel emissions scandal, making him the highest-ranking executive found guilty over cars that cheated on emissions tests with the help of illegal software.

A German court handed Stadler a suspended prison sentence of 21 months and ordered him to pay a fine of 1.1 million euros ($1.2 million), some of which will go to charitable groups. The sentence resulted from an agreement between his lawyers, the judge and prosecutors after he pleaded guilty last month.

U.S. Embassy Deputy Chief of Mission Richard Michaels has celebrated the successful implementation of the “Business Innovation and Enhance Exports in Lebanon (BIEEL)” at a closing event in the presence of Fair Trade Lebanon President Sami Abdel Malak, Director General of the Ministry of Agriculture, Louis Lahoud representatives from the industrialist association, chambers of commerce and the U.S.-Middle East Partnership Initiative (MEPI) team, MEPI Coordinator David Lewis and MEPI Program Manager Maya Barhouche, SMEs and local enterprises.

"MEPI, through the $2.5 million BIEEL project implemented by Fair Trade Lebanon, helped 100 Lebanese small and medium enterprises (SMEs) and cooperatives produce and promote Fair Trade Certified products, and provide access to international export markets," the U.S. Embassy in Beirut said in a statement.

The ruble reached a 14-month low against the dollar and major equity markets slid Monday after an aborted weekend mutiny in Russia that stoked concerns about stability in the nuclear-armed country.

While the advance by the Wagner mercenary force led by Yevgeny Prigozhin was called off before it reached Moscow, analysts said the rebellion showed President Vladimir Putin's grip on power was more fragile than previously thought.

Aston Martin on Monday announced a deal with US-Saudi electric vehicle specialist Lucid Group to help make the British group's luxury 'green' cars.

California-based Lucid will supply technology, including battery systems, for cash and shares worth about $232 million (213 million euros), Aston said in a statement.

Hundreds of retail workers on Monday walked off the job across Spain in a new round of strikes against the fashion giant H&M Group, extending a series of store closures in the middle of the summer sales season.

More than 4,000 Spanish employees at the Swedish multinational's brands including H&M, Other Stories and Cos are seeking pay rises in line with the higher cost of living and are protesting increased workloads linked to layoffs during the COVID-19 pandemic.

Global shares mostly fell Monday after a short-lived armed rebellion in Russia added to uncertainties over the war in Ukraine.

France's CAC 40 dipped 0.4% in early trading to 7,135.23. Germany's DAX slipped 0.2% to 15,797.27. Britain's FTSE 100 fell 0.8% to 7,403.10. The futures for the Dow Jones Industrial Average and S&P 500 futures were down 0.2%.