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Hi there Intriguer. We regret to advise that Salzburg airport does not have a helpdesk for tourists accidentally flying to Austria instead of Australia. It was just an ad campaign. But we live in hope for such a helpdesk in Sydney, Canada, where tourists do occasionally stagger out into the snow looking for the beaches of Sydney, Australia.
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Todayโs briefing is a 5 min read:
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๐ธ๐ฆย Saudi Arabia hosts an investment forum near a war.
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๐ญ๐ฐย Hong Kong is still in a slump.
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โ Plus: A presidential assassination, how the papers are covering a migration summit in Mexico, and why folks in Turkey are tweeting about steam.
โฑ๏ธ Around the world in sixty seconds

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๐น๐ญย Thailand: The Thai Navy plans to buy a frigate instead of a submarine after Germany banned its engines from being used by the Chinese manufacturer. Thailand had four subs decommissioned after World War II, and has spent decades trying to replace them.
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๐ท๐บย Russia: Russiaโs upper house has voted to rescind its ratification of a decades-old nuclear test ban treaty. The move now awaits final approval from President Putin, who says Russia is โmirroringโ the US (which signed but never ratified the treaty).
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๐ฆ๐บย Australia: Prime Minister Anthony Albanese announced at the White House yesterday (Wednesday) a $65M plan to build undersea internet cables to eight Pacific Island nations. The partners have contracted Google to build the cables.
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๐จ๐ทย Costa Rica: Investigators have opened an inquiry into the disappearance of $6.2M from the country’s aptly-named national bank, Banco Nacional. Five bank employees are suspected to have stolen the money, which amounts to .06% of the bankโs total assets.
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๐น๐ทย Turkey: To a standing ovation from his party yesterday, President Erdogan said Hamas isnโt a terrorist group, but rather โa group of mujahideen defending their landsโ. Erdogan also cancelled a planned trip to Israel, which wouldโve been his first since 2005.
๐ธ๐ฆ Saudi Arabia | Geo-economics

The 7th edition of the Future Investment Initiative kicked off this week. Credits: FII.
Saudi Arabia kicks off its โDavos in the Desertโ
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Saudi Arabiaโs Future Investment Initiative, nicknamed โDavos in the desertโ, kicked off on Tuesday as global business and finance leaders descended on Riyadhโs Ritz-Carlton hotel for three days of talks.
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Does that hotel ring a bell? Itโs the same spot where the crown prince (โMBSโ) infamously detained 400 of the kingdomโs princes, tycoons, and ministers for a violent โpurgeโ just days after his first Desert Davos in 2017.
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His second Davos in the Desert was in October 2018.
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Does that month ring a bell? Itโs when Saudi officials dismembered Saudi dissident writer Jamal Khashoggi in the kingdomโs Istanbul consulate. Most of the conferenceโs A-list attendees pulled out after the news broke.
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But this weekโs attendee list suggests the event is definitely back, with a pretty broad agenda including:
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๐ค AI – Saudi Arabiaโs sovereign wealth fund called for global partnerships to shape the development of AI
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๐ Manufacturing – The kingdom announced a new Hyundai car plant with Koreaโs president, who attended the event, and
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๐๏ธ Neom – Riyadh unveiled a $10B deal with Danish logistics giant DSV to support the construction of the Neom desert megacity.
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Intrigue’s take: One topic that was notably absent? The Israel-Hamas war a few hundred miles away, and the unfolding humanitarian crisis in Gaza.
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The weekโs Ritz-Carlton program opened on Gazaโs deadliest day reported to date. But Saudi officials are avoiding interviews, and guest speakers seem to be following their lead, with only a few notable (if broad) mentions of the war from folks like the IMF chief and Citigroup CEO.
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This approach suggests the Saudis are well aware whatโs at stake for them and the entire region if the Israel-Hamas war spreads.
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Also worth noting:
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Reports emerged overnight of a brief Israeli ground raid into Gaza ahead of an expected wider invasion.
๐ฐ How newspapers coveredโฆ
A migration summit hosted by Mexico
โLatin America migration summit: Mexico faces an unprecedented crisisโ |
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|
โMexico is hosting several countries to discuss regional migration. The U.S. is not among themโ |
โMexican Summit on Migration Opposes โCoercive Measuresโโ |
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Todayโs newsletter is supported by: Ryse
Last chance to invest before this company becomes a household name
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What if you had the opportunity to invest in the biggest electronics products before they launched into big box retail, would you?
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Through retail distribution deals with Best Buy, Ring changed doorbells and Nest changed thermostats. Early investors in these companies earned massive returns, but the opportunity to invest was limited to a select, wealthy few.
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The game has changed, and for once, investors can invest in a company thatโs gearing up for a massive retail rollout.
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RYSE is set to debut in 100+ Best Buy stores this month, and you’re in luckโyou can still invest at only $1.25/share before their name becomes known nationwide.
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They have patented the only mass-market shade automation device, and their exclusive deal with Best Buy resembles that which led Ring and Nest to their billion-dollar buyouts.
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๐ญ๐ฐ Hong Kong | Geo-economics

Hong Kongโs economy needs a hand
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Hong Kongโs chief executive, John Lee, announced several major tax cuts during his annual policy address yesterday (Wednesday).
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The cityโs status as East Asiaโs premier business hub has been in question since (if not before) Beijing started openly consolidating power over Hong Kong in 2020. And its economy has taken a hit:
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๐ Trading volumes at Hong Kongโs stock exchange have slumped for three straight years as foreign investors withdraw, and
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๐ House prices have slipped 15% from their 2021 peak.
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So Leeโs hoping to turn things around with some targeted tax cuts.
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Intrigueโs take: There are lots of ways to imagine Hong Kongโs future, but here are two:
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โ๏ธ Scenario 1: The city is just in a transition period. There might be an exodus of Western companies, but theyโll soon be replaced by firms from the mainland plus Chinaโs new partners in the Gulf and beyond.
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โ๏ธ Scenario 2: As Beijing erodes the cityโs unique legal status, it also erodes the thing thatโs long made Hong Kong thrive, leaving it the poorer, integrated cousin among Chinaโs โGreater Bay Areaโ of cities like Shenzhen.
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Lee seems to be banking on scenario 1, but itโs not really his call.
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Also worth noting:
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Leeโs address lasted 3 hours and 22 minutes and included 60 references to the โBay Areaโ.
โ Extra Intrigue
Hereโs what people around the world googled yesterday, Wednesday 25 October
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๐ฌ๐ง Britons searched for โDave Courtneyโ after the former gangster-turned-actor passed away.
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๐น๐ท Folks in Turkey googled โSteamโ after the popular videogame distribution platform announced it was no longer pricing its service in the volatile Turkish Lira.
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๐ช๐ฌย And Egyptian football fans looked for โsuper leagueโ after the continentโs new eight-team African Football League kicked off.
๐ณ๏ธ Poll time!
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Do you think Hong Kong will lose its status as a leading financial hub? |
๐ Today in history

Kim Jae-kyu, director of the Korean Central Intelligence Agency, stands trial for assassinating President Park Chung-hee in 1979. Credits: The Korean Herald.
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Today in 1979, South Korean President Park Chung-hee was assassinated by his erstwhile friend and head of Koreaโs Central Intelligence Agency, Kim Jae-kyu. Kim later explained he had killed Park (at dinner) to restore democracy in the country, though many believe he did so to preserve his own power.
Thursdayโs poll: If you were the leader of your country, what % of GDP would you set apart for defence spending and why?
(The global average is currently 2.2%)
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1๏ธโฃ 0% โฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธ (4%)
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2๏ธโฃ 1-2% ๐จ๐จโฌ๏ธโฌ๏ธโฌ๏ธ (32%)
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3๏ธโฃ 3-5% ๐ฉ๐ฉ๐ฉโฌ๏ธโฌ๏ธ (46%)
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4๏ธโฃ 6-10% ๐จโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธ (11%)
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5๏ธโฃ >10% ๐จโฌ๏ธโฌ๏ธโฌ๏ธโฌ๏ธ (7%)
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Your two cents:
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1๏ธโฃ 0% N.C: โLetโs all just try to get along!โ
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2๏ธโฃ 1-2% S.Z: โContext is super important too. If you are like Armenia and squished between two antagonistic countries, you probably should up your defense spending. If you are New Zealand? Probably just chill.โ
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3๏ธโฃ 3-5% L.K, S.A, & R.V: โIf you want peace, prepare for war.โ [Vegetius]