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IN TODAY’S EDITION
1️⃣ Your Davos wrap |
2️⃣ Diplomats on the move |
3️⃣ Festival of the day |
Hi Intriguer. I certainly jammed in my daily steps this week as I traipsed up and down the muddy Davos promenade at the World Economic Forum.
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Though this year’s felt a tad more subdued than previous years (in part because of folks who skipped it for President Trump’s inauguration), it still delivered an impressive number of deals done, celebrities spotted, and VIPs out-VIPing each other.
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It was kind of a feast for policy nerds. Attendees ranged from your classic heads of state, CEOs, and economists to creative types like musicians (like Wyclef Jean and Yo-Yo Ma – my fave) and national treasures (like David Beckham, lol). Topics were wide-ranging, from how to de-mine Ukraine, to use-cases for Chinese robots, and enhancing biodiversity with drones planting mangroves.
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All in all, it’s been a huge week, and my brain is now fried – so we’ll leave you with these top takeaways on WEF below.
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PS – Our very own John, Kristen, and Jeremy just chatted about Biden’s legacy abroad. It’s free to listen!
THE HEADLINES
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Russian spy ship enters UK waters.
The Royal Navy says it’s tracking a Russian spy ship “mapping the UK’s critical underwater infrastructure” after it again entered the UK’s exclusive economic zone earlier this week. Meanwhile, at least one more Russian oil refinery is burning after Ukrainian drones counterattacked targets across Russia overnight.
M23 rebels close in on regional hub.
A Rwanda-backed armed group is now steadily advancing towards Goma, the biggest city in eastern DR Congo. M23 rebels last briefly captured Goma from Congolese troops back in 2012, as part of a long-running regional conflict that’s displaced 7 million people.
Bank of Japan raises rates.
As expected, the BOJ has hiked its interest rates to 0.5%, the highest level in 17 years. The yen strengthened on the news.
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Ireland gets a prime minister.
The Irish parliament has elected Micheál Martin as Taoiseach (PM) after a bitter row in the lower house delayed proceedings. Martin previously served as PM between 2020 and 2022, and now returns for another three years before handing the reins back to his coalition partner Simon Harris per their centrist power-sharing arrangement.
Brazil fires burned area the size of Italy in 2024.
According to a monitoring platform, drought-fuelled fires caused Brazil to lose 30.86 million hectares of vegetation last year, up 79% from 2023. Probably not the kind of PR Brazil wants as it prepares to host the COP30 climate talks in November.
TOP STORY
What went down at Davos 2025
From L to R: A humanoid robot parading the streets of Davos, the beautiful mountains surrounding the summit, some anti-WEF protests, and this year’s US House. Pics courtesy of our very own Helen!
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Another year, another Davos Summit, another Intrigue recap.
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First, a quick fun fact: there are brands that spend an absolute fortune to be at Davos each year, but not Intrigue — our very own Helen is an invited speaker!
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Anyway, around 50 world leaders also attended, including the EU’s Ursula von der Leyen and Argentina’s Javier Milei, while others like Donald Trump got beamed in virtually. And if you’re wondering why football legend David Beckham was there too, he was being honoured for his philanthropy.
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As for this year’s theme? It was a classically Davos ‘Collaboration for the Intelligent Age’.
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So let’s get into it.
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Zelensky roasts Europe
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Ukrainian president Volodymyr Zelensky dialled into the summit on Tuesday to deliver an address that was 75% roast and 25% speech.
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He didn’t mince his words as he argued Europe’s influence on the international stage is fading: “Washington does not believe Europe can bring them something that is really substantial”. And in a world getting more unpredictable, irrelevance = insecurity.
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But Zelensky’s words weren’t aimed at dunking on his European friends. Rather he’s trying (like others) to shake Europe awake to today’s strategic realities, because Ukraine needs a strong Europe to survive Russia’s aggression. And Europe needs a strong Ukraine, too.
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Trump declares the US “open for business”
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The US president addressed the WEF summit virtually to announce that his country is back under new management and “open for business”, turbo-charged by the “largest deregulation campaign in history”.
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But in keeping with his first week vibes, Trump also balanced the sales pitch with some warnings, telling CEOs to “come make your product in America” or face more tariffs.
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He also made some big demands, including:
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Immediate US rate cuts (like many other central banks, the Fed is independent)
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Lower oil prices (his comments triggered a 1% drop in crude)
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Higher NATO defence spending (Lithuania already pledged 5% of GDP), and
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An even bigger US investment pledge from the Saudis, from $600B to a neat $1T.
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Anyway, if you’re looking for a quick distillation of how the returned president intends to approach the world this time around, there’s your answer ☝️
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Tech CEOs are celebrating
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The last couple of Davoses (our inner Latin student almost went with Davi) have been more subdued: between suffocating inflation, post-Covid uncertainties, and new wars erupting, there wasn’t much to (self)celebrate.
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But the vibes have shifted, depending on your sector. Tech titans sound more excited about the future, and the crypto crowd is now more enthusiastic than a mid-hug Modi.
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Sure, that’s partly due to more confidence in the global economic outlook, but it’s also a response to Trump’s undiluted pro-business and pro-US vibes.
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EU competitiveness
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Ursula von der Leyen’s keynote focused on a shifting world and the EU’s role in this “new era of harsh geostrategic competition.”
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Effectively agreeing with a lot of Zelensky’s earlier roast, the European leader acknowledged that her bloc has “relied on the rising tide of global trade to drive its growth. It has relied on cheap energy from Russia. And Europe has too often outsourced its own security.” But according to von der Leyen, “those days are gone.”
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She went on to outline the Commission’s plans to invest in innovation, reform European capital markets, and cut red tape. It’s a daunting task, but within reach if Europe wants it. And we saw that reflected in the various European delegations popping up around Davos: they’re all feeling an inflexion point across their economics, politics, and geopolitics.
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The Gulf takes over Davos
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Arguably, the Gulf states were the best at staying on the summit’s theme. The Emiratis, for example, sponsored (via their G42 venture) the Davos AI House, reflecting their continued efforts to modernise and diversify their economy away from hydrocarbons.
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But the Gulf states weren’t the region’s only players with something to prove. Syria’s new foreign minister (al-Shibani) also told the Davos crowds that Syria is now open for business after booting Assad, but it really needs “the help of the international community”.
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And that’s a kinda intriguing place to end: Al-Shibani long worked for the de-facto HTS government in rebel-held parts of Assad’s Syria. That means in the past month he’s gone from being a member of a US-listed terrorist group to headlining at Davos. What a flex.
INTRIGUE’S TAKE
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There’s always a bit of banter about the “death of Davos man” — a way of saying our world is ditching globalism, multilateralism, and the golden age of free trade. And yes, we definitely feel that vibe shift — in fact, we flag it in practically every Intrigue edition.
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You can arguably see the same vibe shift in the way more of the Davos action and interest has increasingly shifted away from the ultra-exclusive Hotel Kongress and out to the side events along the promenade. That’s where we saw big moves by everyone from South Africa, Brazil, and India through to Mongolia, Kosovo, and even Kurdistan.
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So then, why do all these companies and countries keep ploughing cash into a dying idea of Davos? Because Davos is still the place you go to help shape what comes next.
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Also worth noting:
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WEF’s first Davos summit took place in 1971.
MEANWHILE, ELSEWHERE…
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🇰🇬 Kyrgyzstan: Kyrgyzstan’s national security chief has spent the last few days walking back comments that he ordered the assassination of a mob boss in 2023. While speaking with educators, the official had said he took “the decision to liquidate the thief”, but he’s since claimed his wording was twisted in the media.
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🇩🇪 Germany: Central bank chief Joachim Nagel has softened his usual hawkish tone on the side-lines of Davos, calling to reform Germany’s strict debt and deficit rules. Related disagreements triggered the collapse of Germany’s government last fall, leading to the upcoming February 23 elections.
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🇸🇬 Singapore: The city-state has confirmed it’ll cooperate with Interpol’s new ‘Silver Notice’ procedure, which enables authorities around the world to seek help in locating assets hidden abroad. Authorities in Italy have issued the first Silver Notice, seeking word on $525M in assets belonging to a senior mafia member.
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🇦🇷 Argentina: Buenos Aires is now reportedly thinking about leaving both the Paris climate agreement and the World Health Organization, following Trump 2.0’s lead. Argentina’s withdrawal from Paris could jeopardise its membership of the major new EU-South America (Mercosur) trade deal, which includes a requirement to stick with Paris.
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🇰🇪 Kenya: President Ruto seems to be having a tough time recruiting high profile Kenyans to serve in his administration, with several already turning down roles for various reasons. Street protests rocked the nation last year, forcing the government to abandon proposed tax measures and fire several ministers.
EXTRA INTRIGUE
Diplomats on the move ✈️
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New US Secretary of State 🇺🇸 Marco Rubio is set to travel to Panama, Guatemala, El Salvador, Costa Rica, and the Dominican Republic from late next week.
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German Minister of State 🇩🇪 Tobias Lindner was in Jordan and Iraq this week following Foreign Minister Baerbock’s stint at the Syria Conference in Riyadh.
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Trump’s Middle East envoy 🇺🇸 Steve Witkoff is rumoured to be taking a bigger role in the Trump 2.0 Iran strategy, though Trump says Witkoff won’t lead it.
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And China’s top diplomat 🇨🇳 Wang Yi is planning to meet his new EU counterpart 🇪🇺 Kaja Kallas at the Munich Security Conference next month.
FESTIVAL OF THE DAY
Notice anyone familiar? Credits: Merkur.de.
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While G7 leaders move on from the picture perfect towns where they gather, those towns often cherish their moment in the spotlight for decades. One such town (Krün), tucked in the German Alps, co-hosted the G7 in 2015 back when Angela Merkel was running the show in Berlin and Barack Obama “munched on a white sausage in the town square”, according to a particularly attentive local paper.
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Ten years on, Krün is now planning a “revival” festival to commemorate the day, June 7th. The mayor says he’s already invited Germany’s former government spokesman Steffen Seibert and Bundestag member Alexander Dobrindt, who intriguingly celebrate their birthdays on Krün’s very same “revival” day.
FRIDAY QUIZ
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It’s the International Day of Education!
1) When did the UN enshrine the right to education? |
2) How many children around the world are out of school? |
3) Which Sustainable Development Goal focuses on education?(one for the hard-core SDG nerds out there)
|
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