Business
PM Shehbaz meets Qatari delegation to boost investment under SIFC | The Express Tribune
Taameer Group expresses interest in expanding investments in hospitality, hotel, real estate, and construction sectors
Prime Minister Shehbaz Sharif meets a Qatar-based investment delegation led by Taameer Group founder Muhammad Hussein Al Ali. GOVT OF PAKISTAN
Prime Minister Shehbaz Sharif on Friday held talks with a delegation from Qatar-based Taameer Group, led by the group’s founder Muhammad Hussein Al Ali, to discuss investment opportunities in Pakistan’s tourism, hospitality, real estate, and construction sectors, according to a statement issued by the Prime Minister’s Office.
During the meeting, PM Shehbaz described Qatar as a longstanding friend of Pakistan that had consistently supported the country during difficult times. He said the government was prioritising measures to attract foreign investment and had removed major obstacles through the Special Investment Facilitation Council (SIFC).
The prime minister said Pakistan offered significant investment potential in the tourism, hospitality, real estate, and construction sectors, and directed relevant authorities to facilitate the visiting delegation in exploring investment opportunities.
Taameer Group’s founder briefed the prime minister on the company’s ongoing and planned projects in Pakistan and expressed strong interest in expanding investments in the hospitality, hotel, real estate, and construction sectors.
A delegation of Tameer Group Qatar led by its founder Muhammad Hussain Al Ali calls on Prime Minister Muhammad Shehbaz Sharif. pic.twitter.com/hPDTnhCpue
— Government of Pakistan (@GovtofPakistan) May 22, 2026
He also praised the government’s efforts under PM Shehbaz’s leadership to improve the business climate and attract foreign investment, saying the SIFC framework was helping facilitate investors and strengthen economic cooperation. The delegation reaffirmed its commitment to expanding investment activities in Pakistan in the coming years.
The meeting was also attended by Deputy Prime Minister and Foreign Minister Ishaq Dar, Planning Minister Ahsan Iqbal, Information Minister Attaullah Tarar, Minister of State Bilal Azhar Kayani, and other senior government officials.
Pakistan established the SIFC in 2023 with the goal of acting as a single window to facilitate investment and privatisation, promote cooperation among all government departments and fast-track project development. The body was set up after Gulf nations complained about the lack of coordination among various entities of Pakistan, which was blocking investment inflows.
The SIFC did address the coordination-related issues and helped remove bottlenecks, but the larger problems, like undue heavy taxation, higher energy prices, weaker external sector stability, and the lack of fiscal space remained unaddressed.
The SIFC had been assigned the task of increasing foreign direct investment in the areas of agriculture, defence, infrastructure development, strategic initiatives, logistics, information technology, telecommunication, energy, mining and minerals, and tourism.
Business
Two top Walmart executives leave company under new CEO John Furner
A Walmart store is seen on Feb. 3, 2026 in Austin, Texas.
Brandon Bell | Getty Images
Two top Walmart executives are departing the company, nearly four months after CEO John Furner took over, CNBC learned on Friday.
Tom Ward, the chief operating officer of Walmart’s warehouse Sam’s Club, is retiring, while Cedric Clark, Walmart’s executive vice president of U.S. store operations, is leaving the business, internal memos viewed by CNBC shows.
A replacement for Clark is expected to be announced in the “coming weeks,” the memo stated. It’s unclear when the company expects to fill Ward’s position.
The leadership shuffle comes after Furner took over as Walmart’s CEO in February. Alongside Furner’s promotion, the company elevated four new top executives to work alongside him earlier this year. Seth Dallaire was promoted to chief growth officer, overseeing the company’s marketplace and advertising businesses, David Guggina was elevated to CEO of Walmart U.S., Chris Nicholas became CEO of Walmart International and Latriece Watkins became CEO of Sam’s Club.
Furner took over the largest U.S. retailer during a period of sustained growth, fueled by gains with higher-income consumers and the expansion of its e-commerce business.
Walmart announced fiscal first-quarter earnings on Thursday, where it issued mixed results and said its business remained strong despite consumer pressures and high gas prices.
The leadership changes were first reported by the Wall Street Journal.
Business
British Airways raises price of Avios reward tickets
British Airways is putting up the price of reward tickets for customers using Avios, giving five days’ notice of the increases.
The cash element of tickets booked through its loyalty scheme will rise by up to 33 per cent from Wednesday 27 May.
For example, a ticket in Club World from London Heathrow to New York JFK, once requiring 176,000 Avios, will now also require £499 – an increase of roughly £100, or about 25 per cent.
In an email, the airline said the amount of Avios required for bookings will remain unchanged for now. “Thank you for your continued support and understanding,” it said.
Customers have until Wednesday to book at current prices.
Writing on his Head for Points frequent-flyer website, Rob Burgess said: “This is the second devaluation in just five months. The earlier changes led to a 10 per cent increase in the Avios element and 3-23 per cent increase in the cash element.
“This change only impacts the cash element and represents an additional 10-33 per cent
“These changes are very likely to be linked to the increase in fuel costs due to the Middle East crisis, although British Airways has better hedging in place than most carriers. With little sign of the oil situation improving, however, it is likely that fuel costs will remain high beyond the life of the hedges.”
Simon Calder, travel correspondent at The Independent, said: “When British Airways first unveiled ‘Air Miles’, flights were genuinely free – no one was expected to hand over cash.
“To see the cash element increased up to £500 will prove a deterrent for some. But many passengers, especially those who amass Avios on their company’s spend, remain transactionally loyal to BA.”
In April, IAG – which owns British Airways, Aer Lingus and Iberia of Spain – said it was increasing the price of ordinary cash tickets because of the impact of the conflict.
“We are not seeing jet fuel supply interruptions, but fuel prices have risen sharply and, despite our hedging strategy which gives some shorter term mitigation, we are not immune to the impact,” it said. “Like other carriers, IAG airlines are making some pricing adjustments to reflect these higher fuel costs.”
Read more: All the airlines cancelling flights as easyJet and Jet2 issue updates
Business
Disney’s ‘Star Wars: The Mandalorian and Grogu’ tallies lowest Thursday preview sales in franchise history
Still from “Star Wars: The Mandalorian and Grogu.”
“Star Wars” returns to the big screen for the first time in seven years this weekend, riding the contrails of a Mandalorian’s jetpack.
Disney’s “Star Wars: The Mandalorian and Grogu” tallied $12 million in Thursday night preview sales, the lowest collection of advanced tickets in the franchise’s history, according to data from Comscore. “Solo: A Star Wars Story” was the previous low bar with $14.1 million in preshow tickets back in 2018.
Box office analysts expect the film based on the hit Disney+ show “The Mandalorian” to generate around $80 million for its three-day opening weekend and around $95 million for the four-day Memorial Day holiday weekend. Some less conservative experts have estimated the three-day haul could be $95 million and the holiday weekend could draw $115 million.
That would be one of the smallest openings of a “Star Wars film in modern cinematic history. “Solo” captured $84.4 million during its opening eight years ago. Since 2015, only “Solo” has opened to less than $100 million domestically, Comscore data show.
“The Mandalorian and Grogu” will likely benefit from the popularity of the television show, the long Memorial Day weekend and limited competition from new titles, especially on premium large format screens.
It will also act as a stress test for future “Star Wars” theatrical releases amid a lackluster cinema run for “Star Wars” and Marvel, the tentpole franchises that helped Disney dominate the global box office in the 2010s. The studio has “Starfighter” arriving in cinemas in 2027 starring Ryan Gosling and directed by Shawn Levy.
New “Star Wars” titles have been absent from cinemas since 2019’s “The Rise of Skywalker.” The final film in the Skywalker Saga and third film in what has become known as the sequel trilogy generated more than $1 billion, but was widely panned by critics and fans. Disney and its Lucasfilm studio paused theatrical productions in favor of reestablishing the franchise on streaming service Disney+.
“The Mandalorian,” which premiered just a month before “The Rise of Skywalker,” was a runaway hit for the company and inspired a number of live-action Star Wars projects to get a series run instead of a theatrical one. These include “Andor,” “Obi-Wan Kenobi,” “Ahsoka,” “Skeleton Crew,” “The Acolyte” and “The Book of Boba Fett.”
Lucasfilm tapped director Jon Favreau, who worked alongside the newly minted head of the studio Dave Filoni to bring “The Mandalorian” to Disney+, to helm “The Mandalorian and Grogu.” The feature film had a slightly smaller budget than typical Star Wars films, with the cost of production estimated to be around $165 million. Other “Star Wars” projects released theatrically in the previous decade had production budgets of $250 million or higher, according to data from The Numbers.
This means that “The Mandalorian and Grogu” has a smaller profitability threshold than previous titles from the franchise. Of course, those production budgets do not include marketing spending.
For parent company Disney, it’s not just about the box office numbers. The film has a robust consumer products launch tied to its release.
The “Star Wars” franchise has consistently been a strong seller at retail even without a theatrical release. So having new products across a variety of categories and brands could be a big boon for the company — especially after the character Grogu, known as “Baby Yoda,” was a runaway hit with fans.
Notably, following the 2015 release of “Star Wars: The Force Awakens,” the first of Lucasfilm’s latest “Star Wars” trilogy, Hasbro alone saw sales of “Star Wars” products reach nearly $500 million.
Not to mention, Disney is already doing tie-ins at its theme park locations, including specialized merchandise and a revamp of its Smugglers Run ride featuring Grogu.
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