Good morning, ladies and gentlemen. We have a reasonably brisk issue for you on this fine Tuesday morning, with all the big news from the fifth day of COP28 as well as a slew of energy updates.

THE BIG STORY here at home continues to be (of course) COP28, with yesterday bringing a host of finance and energy updates. We’ve seen a total of USD 57 bn pledged to finance the green transition since the conference got underway last week, and several Emirati companies inked agreements for green projects yesterday.

Russian President Vladimir Putin may be coming to town as a part of a two-stop tour of the region that will see him touch down first in Dubai before heading to Saudi Arabia. Putin has rarely traveled since his country invaded Ukraine. Two Russian media outlets broke the news, which was then confirmed by Russian state news agency Tass (per Politico) and picked up by Reuters and Bloomberg.

FROM COP-

RabdanOnes rolling around COP: Rental car company Autostrand has purchased 200 Rabdan One electric cars from NWTN Motors, according to a press release. The newly acquired vehicles were all leased for COP28 usage.

Refresher: The Rabdan One is the UAE’s first EV, boosting a dual-motor drive system, packing a 510 KW battery with a range of up to 860 KM, 1.04k horsepower, and can reach 100 km/h in 4.5 seconds.

Yesterday also saw some protests over Palestine: Over 200 activists took to COP’s UN-controlled Blue Zone to call for an immediate ceasefire in Gaza,reports Khaleej Times. The environmental activists, dressed in Palestinian keffiyehs, read out the names of Palestinians killed by Israeli bombardment. The UAE released a joint statement with UN Climate Change earlier in August, allocating a safe space at the COP for activists to assemble and express their views peacefully.

HAPPENING TODAY AT COP- It’s energy, industry and the “just transition” day. Key topics will include boosting the deployment of renewable energy, unlocking greater energy efficiency, innovation and action for hard-to-abate sectors including steel and aluminum, and the decarbonization of oil and gas supplies including methane abatement and carbon management tech.

The next big business-relevant themes at COP28:

  • Transport — 6 December
  • Food, agriculture, and water — 10 December
  • Final negotiations — 10-11 December

Need to go deeper? Click here to check out a handy guide (pdf) to the main thematic days and what to expect. Head to the official events schedule for a full rundown of all the panels, workshops, discussions, debates, and keynote speeches.

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HAPPENING TODAY- Sharjah Consultative Council (SCC) elections begin today, with voters able to cast their ballots in person or electronically, WAM reports.The SCC reviewed the voting mechanisms yesterday, ensuring the veracity of electronic and in-person voting at approved centers such as Sharjah Chess Club, Khorfakkan Expo Centre, and others across the emirate.

Here comes the sun: The thick wave of early morning fog that covered Abu Dhabi and Dubai yesterday appears to have cleared up, giving way to sunny skies and temperatures peaking at 28°C in Abu Dhabi and 30°C in Dubai, our favorite weather app indicates. AbuDhabi Police reduced the speed limit in Abu Dhabi to 80 km/h yesterday as a result of the fog, according to the National Centre of Meteorology (NCM).

For the first time in almost two months, the war in Gaza isn’t dominating the world’s attention: It’s a mixed picture on the global front pages, with Saudi oil policy, the war in Ukraine, mass shootings in America, and Wednesday’s Republican presidential debate all getting coverage.

Oh, and a longtime US diplomat has been charged with being an agent for Cuba in what Reuters is presenting as “one of the highest-reaching and longest-lasting infiltrations of the U.S. government by a foreign agent.”

The big business story: Spotify is laying off 17% of its workforce. (Reuters | Financial Times | Wall Street Journal)

MARKET WATCH-

Oil prices struggled to recover as doubts linger over the impact of OPEC+ supply cuts: Global benchmark Brent fell to nearly USD 78 per barrel after a six-week decline, and West Texas Intermediate dropped below USD 74 per barrel, Bloomberg reports.

European crude markets are grappling with a surplus driven by sluggish regional demand and an influx of US shipments: Monday’s fall totals at a 2% decline to share price adds to last week after the supply cuts announced on Thursday by the organization

Remember: This comes just days after the delayed OPEC+ meeting in which the participating countries reaffirmed their commitment to “a balanced and stable market.”

CIRCLE YOUR CALENDAR-

Coming up tomorrow: The Yas Winter Festival — complete with its snow park, carnival, and Santa Land — returns to Abu Dhabi. Admission for children below the age of three is without charge, while those aged 4-12 will be charged AED 15 for tickets bought in advance or AED 20 at the door. All those above the age of 13 will pay AED 25 for advance tickets or AED 30 at the door.

Sole DXB is coming back to Dubai from Friday-Sunday, 8-10 December. The culture festival will see the Dubai Design District stage host rap artists from all around the world.

Also on this weekend: The Global EV Show in Dubai is on this Friday and Saturday, 8-9 December, with the Dubai EarthSoul Festival running from Friday to Sunday.

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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