{"id":701613,"date":"2026-05-12T00:00:00","date_gmt":"2026-05-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?p=701613"},"modified":"2026-05-12T12:17:38","modified_gmt":"2026-05-12T12:17:38","slug":"starmer-clings-to-power-ebay-rejects-gamestops-unsolicited-usd-56-bn-bid","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/05\/12\/starmer-clings-to-power-ebay-rejects-gamestops-unsolicited-usd-56-bn-bid\/","title":{"rendered":"Starmer clings to power + eBay rejects GameStop\u2019s unsolicited USD 56 bn bid"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good afternoon, friends, and happy hump day.<\/strong> We hope you\u2019re staying cool in the Cairene heat. It\u2019s a quiet day at home, and today\u2019s issue is all about food (and the business of food). We try one of New Cairo\u2019s best-kept noodle secrets and serve up the encore to our cloud restaurants guide. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Without further ado<\/strong>, the news\u2026<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE BIG STORY ABROAD-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> \ud83c\udf10 <strong>UK Prime Minister Keir <\/strong><strong>Starmer is facing a leadership crisis<\/strong> as his cabinet members \u2014 and more than 80 Labour lawmakers \u2014 urge him to quit immediately or set a timeline to leave. Starmer reaffirmed that he will not resign and aims to \u201cget on with governing.\u201d The pressure on Starmer to resign follows major losses for the Labour Party in last week\u2019s local elections.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^Read more on: <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/live\/c1e2n923v1lt\" style=\"\">BBC<\/a>, <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2026\/05\/12\/world\/live-news\/uk-keir-starmer-labour\" style=\"\">CNN<\/a>, <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2026\/05\/12\/uk-gilts-borrowing-costs-keir-starmer-pressure-resign.html\" style=\"\">CNBC<\/a>, <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/politics\/live\/2026\/may\/12\/keir-starmer-prime-minister-resignation-labour-leadership-cabinet-meeting-yvette-cooper-shabana-mahmood-andy-burnham-wes-streeting-uk-politics-latest-news-updates\" style=\"\">The Guardian<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/articles\/u-k-s-starmer-fights-for-job-as-leadership-crisis-spills-into-markets-d171488b?mod=hp_lead_pos6\" style=\"\">The Wall Street Journal<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN THE BUSINESS PRESS-<\/strong> Following US retailer GameStop CEO Ryan Cohen\u2019s unsolicited <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/04\/sovereign-fund-taps-efg-hermes-for-the-20-misr-life-float\/\" style=\"\">USD 56 bn bid<\/a> to acquire eBay last week, eBay\u2019s board rejected the offer, calling it \u201cneither credible nor attractive.\u201d Paul Pressler, eBay\u2019s chairman, listed several concerns with the bid, mainly uncertainty over its financing and the possible debt load.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^Read more on: <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2026\/05\/12\/ebay-rejects-gamestops-takeover-bid.html\" style=\"\">CNBC<\/a>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sustainability\/sustainable-finance-reporting\/ebay-rejects-gamestops-audacious-56-billion-takeover-bid-2026-05-12\/\" style=\"\">Reuters<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2026\/05\/04\/business\/gamestop-ebay-acquisition-offer.html\" style=\"\">The New York Times<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/sub.ent.news\/menaplus\/\" target=\"_blank\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/5\/463.gif?ssl=1\"\/><\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh to Mumbai. Abu Dhabi to Singapore. Dubai to London. Cairo to Shenzhen.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The most important business stories in MENA aren\u2019t happening inside MENA anymore<\/strong> \u2014 they\u2019re happening at the edges, where regional capital meets global ambition.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM MENA+ is our new flagship newsletter<\/strong>, built to cover the flows of capital, people, and ideas across the Middle East \u2014 and beyond it. AI, geopolitics, the war for talent, sovereign wealth strategy, the changing energy economy, and the new corridors reshaping global trade.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/sub.ent.news\/menaplus\/\" style=\"\">Tap or click here to get your own copy<\/a><\/strong> delivered to your inbox every Monday, Wednesday, and Friday at 12pm UAE | 11am KSA | 11am Egypt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** CATCH UP QUICK<\/strong> on the top stories from today\u2019s <strong>EnterpriseAM:<\/strong><\/p>\n<ul>\n<li><strong>The government <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/12\/egypt-files-its-reform-credentials-ahead-of-imfs-last-review\/\" style=\"\">submitted updates to the IMF<\/a><\/strong><strong> on its structural reform package ahead of the Fund\u2019s mission arriving on 15 June.<\/strong> The mission will conduct the combined seventh and eighth reviews of Egypt\u2019s Extended Fund Facility \u2014 expected to unlock USD 3.3 bn in disbursements;<\/li>\n<li><strong>CIB saw its <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/12\/cib-starts-2026-with-bottom-line-topline-growth\/\" style=\"\">net income climb<\/a><\/strong><strong> 7% y-o-y to EGP 17.8 bn in 1Q 2026 on the back of higher net interest income<\/strong>, which jumped 17% y-o-y to EGP 29.7 bn. Higher net interest income helped offset the 7% y-o-y dip in non-interest income;<\/li>\n<li><strong><a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/12\/local-fertilizer-firms-to-supply-india-with-350k-tons\/\" style=\"\">India is turning to Egypt<\/a><\/strong><strong> for fertilizers <\/strong>as the Strait of Hormuz remains effectively closed and traditional Gulf suppliers halt shipments. Local tenders secured contracts to deliver between 300-350k tons to the South Asian giant, with Abu Qir Fertilizers, Mopco, and Egyptian Fertilizers Company scooping up the lion\u2019s share of 240k tons.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\u2600\ufe0f <strong>TOMO<\/strong><strong>RROW\u2019S WEATHER-<\/strong> Summer is definitely here to stay in Cairo as we\u2019re looking at a high of 35\u00b0C and a low of 25\u00b0C tomorrow, with temperatures expected to increase over the weekend, according to our favorite weather app.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good afternoon, friends, and happy hump day. We hope you\u2019re staying cool in the Cairene heat. It\u2019s a quiet day at home, and today\u2019s issue is all about food (and the business of food). We try one of New Cairo\u2019s best-kept noodle secrets and serve up the encore to our cloud restaurants guide. Without further [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":701614,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7213],"tags":[633,127,112,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-701613","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-enterprisepm","tag-politics","tag-uk","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"d81ec16d-767d-4b00-8e2e-1b7e1cc3b0a2","order":"1","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2026\/5\/650.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Starmer clings to power + eBay rejects GameStop\u2019s unsolicited USD 56 bn bid","related_issue":[701611],"teaser":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Starmer clings to power + eBay rejects GameStop\u2019s unsolicited USD 56 bn bid - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/12\/starmer-clings-to-power-ebay-rejects-gamestops-unsolicited-usd-56-bn-bid\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Starmer clings to power + eBay rejects GameStop\u2019s unsolicited USD 56 bn bid\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, friends, and happy hump day. 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We hope you\u2019re staying cool in the Cairene heat. It\u2019s a quiet day at home, and today\u2019s issue is all about food (and the business of food). We try one of New Cairo\u2019s best-kept noodle secrets and serve up the encore to our cloud restaurants guide. 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The Egyptian-British national faces backlash from the right wing after past social media posts deemed \u201cviolent and offensive\u201d resurfaced, with UK Prime Minister Keir Starmer facing just as much criticism after\u2026","rel":"","context":"In &quot;EGYPT IN THE NEWS&quot;","block_context":{"text":"EGYPT IN THE NEWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/egypt-in-the-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/9\/1354.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":672229,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/09\/21\/finance-ministry-begins-clearing-export-dues-backlog-with-first-tranche-of-direct-payments\/","url_meta":{"origin":701613,"position":1},"title":"Finance Ministry begins clearing export dues backlog with first tranche of direct payments","author":"enterpriseam admin","date":"21 September 2025","format":false,"excerpt":"Good afternoon, friends, and welcome to the start of a fresh new workweek. The last official day of the summer is ushering in cooler weather and a news cycle that seems to be sprinting to the finish line.THE BIG STORY TODAY- Some 601 exporters received EGP 368 mn in overdue\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/1\/403.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":672115,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/09\/18\/govt-to-launch-tender-for-desalination-plants-in-december\/","url_meta":{"origin":701613,"position":2},"title":"Gov\u2019t to launch tender for desalination plants in December","author":"enterpriseam admin","date":"18 September 2025","format":false,"excerpt":"Good afternoon, friends. Congratulations on making it to the end of the workweek, especially with the start of school drop-offs, pick-ups, lunchboxes, and homework enforcement.THE BIG STORY TODAY- Gov\u2019t back on track with water desalination plans: The Madbouly government plans to launch its first tender of renewables-powered water desalination plants\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/9\/1129.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":691151,"url":"https:\/\/enterpriseam.com\/egypt\/2026\/04\/01\/govt-mulls-flexible-natural-gas-pricing-for-industrial-sectors\/","url_meta":{"origin":701613,"position":3},"title":"Gov\u2019t mulls flexible natural gas pricing for industrial sectors","author":"enterpriseam admin","date":"1 April 2026","format":false,"excerpt":"\ud83c\udccfGood afternoon, ladies and gentlemen, and happy (almost) weekend \u2014 and April Fools. Today, we\u2019re looking at why acting the fool in the face of reality might be exactly what you need to keep moving. 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