Good morning, wonderful people, and welcome back from the impromptu long weekend. We have a tight but meaty issue for you this morning to jump right back into our regular programming.

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THE BIG STORIES here at home: The Dubai Financial Market plans to debut a carbon trading program at COP28, while the World Bank thinks the UAE is going to continue registering positive GDP growth this year and next, albeit at a slower rate than 2022.

WillCZ be allowed to return home? Former Binance CEO Changpeng Zhao filed an opposition to the US government motion preventing him from returning to the UAE before his sentencing. The court ruled in favor of his return home after assessing his low flight risk and compliance with bail conditions.

Remember: Zhao pleaded guilty last week to violating US money laundering laws. He faces up to 10 years in prison after stepping down from his former company as part of a USD 4.3 bn settlement, USD 150 mn of which he will personally pay, with the DoJ.

PSA #1- Federal government employees are getting a long weekend from Saturday-Monday, 2-4 December, in observance of the UAE National Day, Cabinet said, according to state news agency WAM. Friday, 1 December will be a work from home day except for employees requiring their physical presence.

PSA #2- Pension payday is here: The General Pension and Social Security Authority will distribute nearly AED 749 mn in pension payments to 4.7k registered beneficiaries today, reports Gulf News. The pension amount falls over AED 25 mn higher than last year’s pension total of approximately AED 723.8 mn.

DATA POINT- 51.6k citizens have registered to vote in the Sharjah Consultative Council elections, surpassing the 44,758 registered voters in the 2019 session. The registrations account for 96% of the total registrations in electoral bodies.

Voters can submit their ballots from December 5-7, between 8 AM and 8 PM. Voting is available online, via the UAE PASS app and the Sharjah Digital Platform, and in person at nine electoral centers across Sharjah’s municipalities.

COP28 is right around the corner: The annual climate event kicks off in Dubai this Thursday, 30 November and will run through 12 December. During this year’s event, governments will, for the first time, undertake a Global Stocktake (GST) to assess their advancements in meeting the nationally determined contributions (NDCs) pledged at the 2015 Paris Climate Accords.

COP28 is opening its doors to the public, encouraging active participation in the climate change discourse, The National reports. Events at the Expo City Dubai host site and grassroots initiatives across the Emirates provide opportunities for engagement in the global dialogue on climate issues.

The first three days are reserved for delegates, featuring a leaders’ summit from 1-2 December, where the agenda for the following days will be established. The COP28 site is divided into blue and green zones, each serving distinct purposes.

The Blue Zone: Accessible from 30 November, the Blue Zone caters exclusively to heads of state, accredited government officials, and media. Managed by the UN, this zone encompasses prominent locations such as the Rove Hotel, the Dubai Exhibition Centre, and the iconic Al Wasl Plaza, including the captivating 360-degree projection dome until 3 December.

The Green Zone: This zone includes the Sustainability District, Alif – The Mobility Pavilion, the Vision and Women’s pavilions, the Surreal water feature, Al Forsan Park, and specific areas within the Mobility District showcasing a youth and green hub.

THE BIG STORY ABROAD

ON THE FRONT PAGES- Gaza is dominating the international front pages this morning, with the world’s media all focused on the latest on the prisoner swap between Hamas and Israel, brokered by Egypt and Qatar.

The latest on day four of the four-day ceasefire: Another batch of Palestinian and Israeli hostages were released yesterday and an extension of the truce could be on the table, mediators Egypt and Qatar have signaled.

See more:Associated Press | Reuters | Bloomberg | Financial Times | New York Times | Washington Post | Wall Street Journal | BBC

IN THE GLOBAL BUSINESS PRESS- Sam Altman is back as CEO of OpenAI ending the endless news cycle of “will he or won’t he” after he was sacked by the OpenAI board.

Instead, OpenAI’s board is out: The board that fired Altman, which was in place to ensure the “safe development” of AI, has been replaced by a three-man provisional board. The board that fired Atlman included two high-profile effective altruists and Ilya Sutskever, a co-founder of OpenAI and its chief scientist. Sutskever helped lead the rebellion against Altman and then flipped sides, saying he would leave the company if Altman did not return as CEO.

So who’s on the board?

  • US economist and former treasury secretary Larry Summers (someone apparently thinks he’s capable of standing up to Altman ?)
  • Bret Taylor, a former Facebook and Salesforce exec who was a key player in negotiating the sale of Twitter to Elon Musk;
  • Quora CEO Adam D’Angelo, the only remaining member of the board that had sacked Altman.

Their mandate: Sort out a proper governance structure and an expanded board, among other things.

Wondering how Altman weighs in the power dynamics of the AI space? It took twelve years for Steve Jobs to Apple after he was sacked; Altman took only 5 days to reclaim his throne.

There are whispers that an AI breakthrough catalyzed Altman’s sacking: Prior to Altman’s dismissal, a previously unreported letter from staff researchers to the board of directors had warned of a powerful AI discovery that they believed “could threaten humanity,” two sources told Reuters. It was this letter, and the new algorithm finding named Q*, which catalyzed Altman’s ousting, they added.

But the tech press isn’t buying it (yet). Reporters have been unable to track down the letter, and there’s disagreement among experts on whether an AI that can do grade school math is a breakthrough.

The story is getting plenty of ink:New York Times | Bloomberg | Reuters | CNN, amongst others.

CIRCLE YOUR CALENDAR-

A handful of events kicking off around town:

  • Abu Dhabi Finance Week will feature the MENA’s biggest fintech festival from today until this Thursday.
  • Dubai Future Forum will welcome futurists to anticipate challenges and solutions in climate and technology today and tomorrow at the Museum of the Future.
  • Fortune Global Forum will invite the world’s biggest multinational companies to engage in discussion and address global issues from today through to Wednesday in Abu Dhabi.
  • The World Green Economy Summit will focus on investments in the global green economy tomorrow and Wednesday at Dubai’s Madinat Jumeirah Conference Center.

Sole DXB is also coming back to Dubai from 8-10 December. The culture festival will bring rap artists from all over the world to the Dubai Design District stage.

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.

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