Latest news with #948
TimesLIVE
06-05-2025
- Business
- TimesLIVE
New York asks judge to block Trump from killing congestion pricing
The city of New York and the Metropolitan Transportation Authority (MTA) asked a US judge late on Monday to block President Donald Trump's administration from killing Manhattan's congestion pricing programme. Lawyers for the city's transportation department and the MTA sought an order to block transportation secretary Sean Duffy's effort to kill the programme and his threat to withhold federal government approvals for other projects and potentially billions in funding. New York State also late on Monday sought a preliminary injunction to block the federal government from blocking the programme. New York launched its first in the nation programme in January, charging most passenger vehicles a toll of $9 (R 164) during peak periods to enter Manhattan south of 60th Street, in a bid to cut congestion and raise funds to improve mass transit. New York cited Trump's social media post in February that touted his effort to killing congestion pricing with the phrase: "Long live the king." The White House posted a mock photo of him on social media wearing a crown. New York City said the programme has dramatically cut congestion, with about 5.8-million fewer cars than expected in the congestion zone between January and March, or an 8% to 13% reduction. Data also shows a 12% reduction in traffic in April, while travel times to cross into Manhattan have dramatically improved, the city said. Hotel stays, retail spending and pedestrian traffic have all increased. "Stopping the programme would also mean a return to the crippling congestion that has long plagued Manhattan," the MTA and city wrote. New York governor Kathy Hochul has said funds raised from the programme would underpin $15bn (R273,948,735,000) in debt financing for critical mass transit capital improvements. Duffy in April told Hochul the transportation department may withhold environmental approvals or project funding if the state does not end congestion pricing by late May. The department under former president Joe Biden had approved the congestion programme in November, which is monitored via electronic licence plate readers. US approval is needed because it involves tolls on federal highways. The programme follows similar ones in London and Singapore. Opponents including Duffy said it takes money from working people and leaves drivers without a free highway option.
New Straits Times
23-04-2025
- Business
- New Straits Times
Palm slips on lower ringgit; stronger crude oil caps downside
JAKARTA: Malaysian palm oil futures opened lower on Wednesday, tracking weakness in the ringgit, while a stronger crude oil helped limit losses. The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange lost RM18, or 0.45 per cent, to RM3,948 (US$896.25) a metric ton in early trade. FUNDAMENTALS The ringgit, palm's currency of trade, weakened 0.39 per cent against the dollar, making the commodity cheaper for buyers holding foreign currencies. Oil prices rose almost 1 per cent in early trade on Wednesday, extending the prior day's gains as investors weighed a fresh round of sanctions on Iran, a drop in US crude stocks and a softer tone from Donald Trump on the Federal Reserve. Higher crude oil prices make palm a more attractive option for biodiesel feedstock. Dalian's most-active soyoil contract rose 0.46 per cent, while its palm oil contract added 0.77 per cent. Soyoil prices on the Chicago Board of Trade (CBOT) were up 0.33 per cent. Palm oil tracks the price movements of rival edible oils as it competes for a share of the global vegetable oils market. Indonesia's crude and refined palm oil exports dipped nearly 2 per cent month-on-month in March as local consumption rose due to Ramadan. However, shipments remained at a four-year high. Palm oil demand from top global buyers China and India is expected to increase as the vegetable oil is now reasonably priced compared to its rivals, the Malaysian Palm Oil Council said on Tuesday. Palm oil may retest support at RM3,875 per metric ton, as the downtrend is considered steady, Reuters technical analyst Wang Tao said. Stock markets were enjoying a much-needed relief rally in Asia on Wednesday after President Donald Trump said he had no plans to fire the head of the Federal Reserve, and hinted at lower tariffs for China.
Zawya
07-02-2025
- Business
- Zawya
Oman: MSX drops by 9 points
Muscat: Muscat Stock Exchange (MSX) general index (30) on Thursday dropped (9.02) points, comprising a decline by (0.20%) to close at (4564.30) points, compared to the last session, which stood at (4573.33) points. The trading value stood at (OMR5,504,875), comprising a surge by (182.5%), compared to the last session, which stood at (OMR1,948,884). The report released by MSX pointed out that the market value went down by (0.059%) to reach about (OMR27.51) billion. The report added that the value of shares bought by non-Omani investors reached (OMR473,000), comprising (8.59%). The value of shares sold by non-Omani investors reached (OMR4,173,000), comprising (75.80%). The net non-Omani investment fell by (67.20%) to (OMR3,699,000). © Muscat Media Group Provided by SyndiGate Media Inc. (
Times of Oman
06-02-2025
- Business
- Times of Oman
MSX drops by 9 points
Muscat: Muscat Stock Exchange (MSX) general index (30) on Thursday dropped (9.02) points, comprising a decline by (0.20%) to close at (4564.30) points, compared to the last session, which stood at (4573.33) points. The trading value stood at (OMR5,504,875), comprising a surge by (182.5%), compared to the last session, which stood at (OMR1,948,884). The report released by MSX pointed out that the market value went down by (0.059%) to reach about (OMR27.51) billion. The report added that the value of shares bought by non-Omani investors reached (OMR473,000), comprising (8.59%). The value of shares sold by non-Omani investors reached (OMR4,173,000), comprising (75.80%). The net non-Omani investment fell by (67.20%) to (OMR3,699,000).
