Latest news with #rail
Yahoo
7 hours ago
- Business
- Yahoo
Trade Truce Crumbles as China Says US Violated Terms
A short-lived truce between Beijing and Washington has come to a crashing halt. After announcing a 90-day stay on punitive duties for China-made goods last month, President Donald Trump took to Truth Social on Friday to rail against the country's government, saying China 'totally violated' its agreement with the U.S. The Commander in Chief did not provide further details about the breach of terms. More from Sourcing Journal Trans-Pacific Ocean Freight Rates Continue Their Ascent on More Front-Loading How Should Brands Think About Cross-Border E-Commerce Amidst Uncertainty? Can Tech Plug the Gaps Between Immigration Policies and Reshoring Aspirations? The Chinese Commerce Ministry hit back on Monday, saying that the U.S. is 'provoking new economic and trade frictions' that 'seriously undermine' the agreement that was reached in mid-May. A spokesperson asserted that China has been 'strictly implementing' the terms that were agreed upon when officials from both countries met in Switzerland. The framework centered on lowering trade barriers and tariffs by 115 percent for three months while a more permanent deal is hashed out. 'Instead of reflecting on its own actions, the United States has groundlessly accused China of violating the consensus, a claim that grossly distorts the facts. China firmly rejects these unjustified accusations,' the spokesperson added. According to Chinese officials, the U.S. has invalidated the terms of the Geneva truce by halting the sale of software for designing computer chips to China's tech firms, taking aim at Huawei, a Chinese technology and electronics company, and revoking visas for Chinese students in the U.S. During a Friday appearance on CNBC, U.S. Trade Representative Ambassador Jamieson Greer said that China was 'slowrolling' compliance with the terms of the agreement, noting that he believes U.S. companies have been placed on Chinese blacklists and that exports of rare earth minerals to the U.S. have been restricted. One day earlier, Treasury Secretary Scott Bessent noted that negotiations between the world's two largest economies has been 'a bit stalled.' Volatility is poised to continue, with members of administration saying Sunday that the president's global tariff regime won't be derailed by a recent ruling from the Court of International Trade (CIT). Last week, the federal judicial body handed down a decision that Trump's universal baseline tariffs and reciprocal duties on more than 90 countries across the globe were invalid. The president overstepped his executive authority by attempting to use the International Emergency Economic Powers Act (IEEPA) to levy the sweeping import taxes, a panel of three judges said. Less than a day later, a Washington, D.C. federal appeals court implemented a stay on the CIT's decision as it reviews the details of the case and the ruling. 'Rest assured, tariffs are not going away,' Commerce Secretary Howard Lutnick said during an interview on Fox News Sunday. The president has 'so many other authorities that even in the weird and unusual circumstance where this was taken away, we just bring on another or another or another,' he added, referencing other trade laws and provisions that the administration could wield to continue to carry out its agenda. Throughout last week's judicial ping pong match, the president stayed mostly mum. But on Sunday, he commented on the issue, Truthing, 'If the Courts somehow rule against us on Tariffs, which is not expected, that would allow other Countries to hold our Nation hostage with their anti-American Tariffs that they would use against us. This would mean the Economic ruination of the United States of America!'
3 days ago
- Politics
One dead after insurgents briefly seize control of a city in southwest Pakistan and loot a bank
QUETTA, Pakistan -- Dozens of armed separatists briefly seized control of a high-security area in a city in southwestern Pakistan on Friday, killing a government official and looting a bank before fleeing, police and officials said. Hidayat Buledi, a local government official, was killed and his home was set on fire in the attack on Sorab, in the Balochistan region, local police chief Hafeez Ullah said. He said Buledi was 'martyred' while trying to protect women and children trapped inside the burning house during the assault. Ullah said several insurgents were killed in the shootout with police. The outlawed Baloch Liberation Army, or BLA, which was designated a terror group by the United States in 2019, claimed responsibility for the attack. In a statement, BLA said its fighters had taken control of key government buildings in Sorab. Ullah dismissed the claim, saying the insurgents fled when security forces responded to the assault. He said the attackers stormed Buledi's home and also set fire to several residences of government officials. Four civilians were injured. Prime Minister Shehbaz Sharif condemned the attack, saying the assailants targeted civilians, including women and children. Shahid Rind, a spokesman for the Balochistan government, blamed Indian proxies for the attack without offering any evidence. There was no immediate comment from New Delhi. trade route, which includes roads and rail systems to link western China's Xinjiang region to Pakistan's southwestern Gwadar port on the Arabian Sea.
Zawya
5 days ago
- Business
- Zawya
Arup experts share trends shaping the future of rail at Asia Pacific Rail
HONG KONG SAR - Media OutReach Newswire - 29 May 2025 - Rail leaders of global sustainable development consultancy Arup from across the Asia Pacific region shared their insights into the future of rail at Asia Pacific Rail 2025, ranging from the role of transit-oriented development in funding rail infrastructure, the use of the latest green and smart technology in transit systems, station transformation, and customer journey planning. Held in Bangkok on 28-29 May 2025, the major rail event in the region was attended by 4,000 people and brought together more than 160 speakers and 200 exhibitors. As moderator of the keynote panel, TC Chew, Managing Director of APAC at Arup, discussed with leaders of key rail organisations in the region the crucial role of Transit-Oriented Development (TOD) in making public-private partnerships (PPPs) financially viable and sustainable, the challenges in implementing TOD as well as opportunities for future regional collaboration. "Governments are under increasing pressure to look for innovative ways to fund rail projects. TOD could be part of the answer. If planned and designed carefully, TOD can help address challenges such as a growing population and demand for housing and employment, while promoting efficient transport options needed for a long-term sustainable future," said TC. James Musgrave, APAC Rail Business Leader at Arup, said, "From the Kowloon Station development in Hong Kong to the Sydney Metro Martin Place integrated station development in Australia, Arup provided strategic planning, design and engineering expertise to maximise the value of investment in transit infrastructure and the positive impact on the community it serves. When we create an impactful TOD, we don't just change how a city moves, we redefine how people live." Three leaders from Arup also spoke at Asia Pacific 2025 on major topics in railway development: Alberto Battois, Malaysia Rail Business Leader, on 'Integrated mobility – what next?'; Carol Lau, Associate Director, on 'New forms of smart and green mass transit systems for medium capacity network - planning and design'; and Aden Chua, Associate, on 'Digitalising station transformation'. In addition, Arup sponsored the British Embassy Reception, where Arup's clients and partners connected with rail leaders to exchange ideas and share insights. With over 6,400 people in 28 offices across Asia Pacific and direct access to a larger global network, Arup is committed to supporting clients to deliver transformative railways that enhance lives and connectivity across cities and nations. Hashtag: #Rail #TransitOrientedDevelopment #Arup Wechat: Arup奥雅纳 The issuer is solely responsible for the content of this announcement. Arup Arup is a global built environment consultancy with advisory and technical expertise across more than 150 disciplines. We create safe, resilient, and regenerative places, bringing a Total Design approach to our work for our clients. Arup
Malay Mail
5 days ago
- Business
- Malay Mail
Arup experts share trends shaping the future of rail at Asia Pacific Rail
Arup experts gathered at Asia Pacific Rail 2025, exploring how to transform rail across the region. Alberto Battois, Malaysia Rail Business Leader, on 'Integrated mobility – what next?'; Carol Lau, Associate Director, on 'New forms of smart and green mass transit systems for medium capacity network - planning and design'; and Aden Chua, Associate, on 'Digitalising station transformation'. HONG KONG SAR - Media OutReach Newswire - 29 May 2025 - Rail leaders of global sustainable development consultancy Arup from across the Asia Pacific region shared their insights into the future of rail at Asia Pacific Rail 2025, ranging from the role of transit-oriented development in funding rail infrastructure, the use of the latest green and smart technology in transit systems, station transformation, and customer journey in Bangkok on 28-29 May 2025, the major rail event in the region was attended by 4,000 people and brought together more than 160 speakers and 200 moderator of the keynote panel,, discussed with leaders of key rail organisations in the region the crucial role of Transit-Oriented Development (TOD) in making public-private partnerships (PPPs) financially viable and sustainable, the challenges in implementing TOD as well as opportunities for future regional collaboration."Governments are under increasing pressure to look for innovative ways to fund rail projects. TOD could be part of the answer. If planned and designed carefully, TOD can help address challenges such as a growing population and demand for housing and employment, while promoting efficient transport options needed for a long-term sustainable future," said "From the Kowloon Station development in Hong Kong to the Sydney Metro Martin Place integrated station development in Australia, Arup provided strategic planning, design and engineering expertise to maximise the value of investment in transit infrastructure and the positive impact on the community it serves. When we create an impactful TOD, we don't just change how a city moves, we redefine how people live."Three leaders from Arup also spoke at Asia Pacific 2025 on major topics in railway development:In addition, Arup sponsored the British Embassy Reception, where Arup's clients and partners connected with rail leaders to exchange ideas and share insights. With over 6,400 people in 28 offices across Asia Pacific and direct access to a larger global network, Arup is committed to supporting clients to deliver transformative railways that enhance lives and connectivity across cities and #Rail #TransitOrientedDevelopment #Arup Wechat: Arup奥雅纳 The issuer is solely responsible for the content of this announcement. Arup Arup is a global built environment consultancy with advisory and technical expertise across more than 150 disciplines. We create safe, resilient, and regenerative places, bringing a Total Design approach to our work for our clients.
Free Malaysia Today
5 days ago
- Business
- Free Malaysia Today
Destini posts RM23.2mil profit for 9-month period
Destini executive director Ismail Mustaffa said the engineering solutions provider is well-positioned to close the financial year on a strong note. (Destini Bhd pic) PETALING JAYA : Engineering solutions provider Destini Bhd has reported a net profit of RM23.2 million for the nine-month period ended March 31. In a statement, Destini said the group's revenue for the period reached RM250.2 million, reflecting sustained demand in its rail, defence, and energy segments. On a quarterly basis, Destini achieved a stable 4.9% revenue growth, reaching RM87.67 million compared to RM83.56 million in the preceding quarter. Profit after tax rose by 4.8% on a quarterly basis, coming in at RM8.47 million compared to RM8.09 million in the preceding quarter. 'With sustained momentum across all business segments, the ongoing execution of high-value contracts, and strategic contributions from recent acquisitions, Destini is well-positioned to close the financial year on a strong note,' said its executive director Ismail Mustaffa in a statement. 'This performance is underpinned by solid fundamentals and a growing tender book, which stood at RM1.01 billion as of March 31.' Destini's mobility sector was a top performer, delivering RM49.6 million in revenue and RM4.32 million in profit after tax and non-controlling interest (PATNCI) aided by the delivery of three train units to the transport ministry, and the first revenue contribution from newly acquired Trovon Group Pty Ltd. The acquisition is expected to enhance the group's access to international markets and contribute positively to profitability in the next financial year. Destini's aviation and defence division also made a strong comeback, posting RM22.42 million in revenue and RM2.42 million in PATNCI, reversing a loss of RM3.97 million in the previous period. The marine segment recorded RM12.27 million in revenue and PATNCI of RM1.07 million, while the energy segment turned a profit of RM260,000 on RM3.38 million in revenue, thanks to improved rig-related activity and tighter cost controls. Destini is an integrated engineering group with operations in mobility, aviation and defence, marine, and energy sectors. Its offerings include maintenance, repair and overhaul services for the rail and aviation industries, marine safety equipment, and renewable energy solutions.
