{"id":551731,"date":"2022-07-18T13:40:01","date_gmt":"2022-07-18T13:40:01","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/this-evening-infinity-is-buying-up-all-of-lekela-el-sisi-talks-cop27-at-petersberg-climate-dialogue\/"},"modified":"2022-07-18T13:40:01","modified_gmt":"2022-07-18T13:40:01","slug":"this-evening-infinity-is-buying-up-all-of-lekela-el-sisi-talks-cop27-at-petersberg-climate-dialogue","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/this-evening-infinity-is-buying-up-all-of-lekela-el-sisi-talks-cop27-at-petersberg-climate-dialogue\/","title":{"rendered":"THIS EVENING: Infinity is buying up all of Lekela + El Sisi talks COP27 at Petersberg Climate Dialogue"},"content":{"rendered":"

Happy Monday, wonderful people.<\/strong> It\u2019s not a particularly busy day on the news front here at home, but the news we do have so far is important.<\/p>\n

THE BIG STORY TODAY<\/strong><\/p>\n

<\/a> Infinity just became Africa\u2019s biggest renewable energy company:<\/strong> Our friends at renewable energy player Infinity group and Africa Finance Corporation have acquired renewables company Lekela from private equity firm Actis and global wind and solar firm Mainstream, according to press releases (here<\/a>and here<\/a>). The sale, which will close later this year, is described as the \u201clargest such acquisition in the history of the continent\u201d and will make Infinity the biggest renewable energy company in Africa.<\/p>\n

THE BIG STORY ABROAD<\/strong><\/p>\n

It\u2019s a pretty thoroughly mixed day in the international business press this afternoon<\/strong>, with the two big topics filtering into headlines being US earnings season and the continued heatwave in parts of Europe. S&P 500, Dow Jones, and Nasdaq futures are all up today as we kick off a \u201cbumper week of earnings reports\u201d that will see big names such as Johnson & Johnson, Tesla, Twitter, and IBM report their financials, the Wall Street Journal<\/a> reports. However, analysts suggest that traders may be \u201ctoo optimistic on earnings\u201d amid generally bleak earnings performances. Meanwhile, the UK is witnessing its hottest day on record as temperatures hit an unprecedented 40\u00b0C, leading the country to cancel schools and some transport services, according to Reuters<\/a>.<\/p>\n

<\/a> HAPPENING NOW- The two-day Petersberg Climate Dialogue in Berlin has kicked off <\/strong>with President Abdel Fattah El Sisi, who is co-chairing the dialogue, delivering a speech<\/a> on Egypt\u2019s plans for the COP27 summit held in Sharm El Sheikh this November. El Sisi spotlighted Africa\u2019s need for climate financing \u2014 set to be a recurring theme in this year\u2019s summit \u2014 and called for countries to follow in its footsteps to revise their nationally determined contributions (NDC) and commit to new emissions targets.<\/p>\n

Egypt updated its emissions targets in recent days,<\/strong> El Sisi said, without disclosing any details on the new targets. The last NDC we submitted was in 2017 and it did not include binding targets for specific emissions reductions.<\/p>\n

El Sisi met with German President Frank-Walter Steinmeir earlier today on the sidelines of the dialogue<\/strong>, according to an Ittihadiya statement<\/a>. Foreign minister and COP27 president Sameh Shoukry also participated<\/a> in the dialogue, which is one of several international climate meetings ahead of COP27.<\/p>\n

** CATCH UP QUICK<\/strong> on the top stories from today\u2019s EnterpriseAM<\/strong>:<\/p>\n