The main events by the morning: October 7

• Syria wants to join the BRICS and has already applied for membership. The issue of further expansion of the organization may be discussed at the summit in Kazan, which will be held from October 22 to 24. At the same time, earlier Russian Foreign Minister Sergei Lavrov noted that the group decided to take a pause in accepting new members in order to «digest» the recently joined ones.

• A damaged ship with fertilizers from Russia cannot be accepted in European ports. The reason is not political – the port of Lithuania, where the MV Ruby was heading after receiving damage, refused to accept it before unloading dangerous ammonium nitrate. Earlier, British ports also refused to accept it. The management company Serenity Shipping has requested a parking permit to transfer dangerous cargo to another vessel and carry out repairs.

• The demand of Russians for foreign real estate is decreasing. In the third quarter of 2024, interest in foreign real estate among Russians fell by 25-40%. This is due to the end of the period of emotional purchases and difficulties with transferring funds. The greatest interest remains in sites in Thailand and Indonesia, while the popularity of Turkey and the UAE is rapidly declining.

• Mortgages in Russia have become even more expensive: major banks, including BEAC, VTB and Alfa-Bank, have started charging additional fees from borrowers and developers since October. Commissions reach 6.5% of the loan amount. This is due to the restrictions of the Central Bank on the full cost of the loan, and banks are trying to compensate for the loss of profits. As a result, buyers will have to pay 10% more for housing.

• Chinese stocks may rise by another 15-20% due to economic incentives from the authorities. To date, significant growth has already been recorded – the CSI 300 index has risen by 27% since September. Analysts remain optimistic about further growth, but also note the risks. Among them are the upcoming US elections, trade conflicts with America and the EU, as well as the possibility of profit-taking by investors, which may slow down growth.