Tippapatt/iStock via Getty Images To Our Partners: Tourlite Fund, LP returned 0.2% for the Fourth Quarter and 2.8% for the full-year 2025. Since inception, the Fund has delivered annualized returns of 8.1%, compared to 13.3% for the S&P 500 and 6.5% for the Russell 2000. 1,2 Q4 2025 2025 YTD Annualized Return 3 Tourlite 0.2% 2.8% 8.1% S&P 500 2.7% 17.9% 13.3% Russell 2000 2.2% 12.8% 6.5% Gross Contribution & Average Portfolio Exposures Gross P&L2025 YTD Q4 2025 Gross P&LQ4 2025 Avg. Dol ...

NEWARK, N.J.--(BUSINESS WIRE)--Telos Advisers, a national advisory firm specializing in complex transportation and infrastructure projects, announces that Stephen Gardner has joined the company as a Strategic Advisory Board Member. Gardner adds to an existing team of former transportation executives providing strategic advisory for complex infrastructure projects to public and private clients. Gardner most recently served as CEO of Amtrak, where he oversaw the nation's largest intercity passenger rail opera ...

Group 1 - The total cross-regional personnel flow in Guangxi reached 20.36 million during the New Year holiday, marking a record high for the same period [1] - The total passenger volume for the entire region's transportation was 3.81 million, with road transport showing a daily average increase of 11.88% year-on-year [1] - Railway transport saw a significant increase in demand, with a total passenger volume of 1.49 million, reflecting a year-on-year increase of 57.96% [1] Group 2 - The highway traffic volume reached 7.31 million, with small passenger vehicles accounting for 82.56% of the total, and 1.33 million of these being new energy vehicles [2] - The rail transit system operated 5,769 trains, achieving a passenger volume of 4.50 million, with a peak daily passenger volume of 1.60 million on January 1 [2] - The civil aviation sector recorded a total passenger throughput of 186,000, with a year-on-year increase of 22.29% [1]

Core Insights - Alstom has signed a contract with the Railway Transport Regulatory Agency in Mexico for the supply of 47 DMU passenger trains, valued at approximately 20.2 billion Mexican pesos (around 920 million euros) [1][2][11] - The project aims to enhance passenger rail mobility in Mexico, connecting key regions and is part of the National Development Plan 2025-2030 [1][3] - Alstom emphasizes local manufacturing, with 76.6% of the train content produced in Mexico, which supports the local railway industry and job creation [4][16] Contract Details - The contract includes not only the supply of trains but also comprehensive maintenance for five years, fitting out maintenance depots, inspection and refueling stations, and technical training [2][12] - The trains will be manufactured at Alstom's Ciudad Sahagún plant, which has over 70 years of manufacturing experience and strategic connectivity for logistics [17][19] Train Specifications - The Adessia Stream trains will operate at speeds of up to 165 km/h, with configurations allowing for up to 600 passengers on short-haul services [5][6] - The design of the trains reflects Mexican cultural identity, incorporating elements inspired by local heritage and aiming for modernity and innovation [7][8][10] Commitment to Sustainability - Alstom's HealthHub predictive system will be part of the service, which has already reduced energy use by 20% since 2014 [15] - The project is positioned as a long-term contribution to sustainable mobility and the development of the Mexican railway sector [4][19]

Core Viewpoint - The signing of the strategic cooperation framework agreement between Kunming University and the Mohan-Deng Economic Cooperation Zone aims to enhance regional development and support the construction of the Mohan International Port City, aligning with national strategies and the "Four Good" construction of the China-Laos Railway [1] Group 1: Strategic Cooperation - The cooperation will focus on think tank cultivation, talent development, platform construction, and research collaboration, establishing a long-term and comprehensive partnership [2] - A think tank cultivation plan will provide precise decision-making consultation and technical support on key issues such as cross-border economy and livelihood development [2] - A talent development plan will establish training bases and promote practical training for international talents, contributing to the cultivation of practical talents [2] Group 2: Report Release - The "China-Laos Railway Development Report (2025)" was released concurrently, aiming to provide systematic intellectual support for high-quality development and regional cooperation [2] - The report systematically reviews the institutional innovation achievements since the operation of the China-Laos Railway and constructs a scientific development index for the railway [3] - The China-Laos Railway Development Index focuses on six areas: railway construction, trade openness, port economy, digital economy, rural revitalization, and tourism industry, serving as the first systematic evaluation index for the railway [3] Group 3: Recommendations and Impact - The report highlights the significant improvement in cross-border logistics and supply chain integration, promoting coordinated development in trade investment, digital economy, green development, and cultural exchange [3] - It suggests comprehensive policies to optimize trade investment structure, promote cultural and tourism integration, enhance cultural exchanges, and drive technological empowerment for future development [3]

Core Insights - The European Investment Bank (EIB Global) and the African Development Bank (AfDB) have established a joint financing arrangement of $275 million for upgrading Mauritania's main railway corridor [1][2] - The financing package consists of a $150 million loan from AfDB and $125 million from EIB Global, with the latter guaranteed by the European Union [2] - The project aims to enhance the transport corridor operated by Société Nationale Industrielle et Minière (SNIM), which is crucial for Mauritania's economic development and export capacity [2][3] Company and Industry Summary - SNIM, the largest employer in Mauritania, will manage the implementation of the railway upgrade project, which includes rehabilitating existing infrastructure and constructing 42 kilometers of new track [4] - The initiative is expected to improve railway capacity, reduce fuel consumption, and enhance operational safety and reliability, thereby facilitating increased mineral exports and job creation [5] - The project aligns with the Global Gateway strategy of the European Union, showcasing collaboration between European and African institutions to support infrastructure development [3][6]

Core Points - Siemens Mobility has secured a contract with Chile's national railway operator EFE Trenes de Chile for its first European Train Control System Level 2 (ETCS L2) project in the country [1] - The project involves the deployment of advanced signalling systems along 87km of railway, covering the Tren Alameda-Melipilla and Tren Santiago-Batuco routes [1] Engineering and Maintenance - Siemens Mobility will handle engineering, supply, installation, and commissioning of the systems over five years, followed by a ten-year maintenance agreement [2] - The ETCS Level 2 signalling systems will operate on the DS3 platform, designed for Safety Integrity Level 4 (SIL4) applications [2] Technology Introduction - This initiative marks the introduction of Siemens' Signaling X platform to Latin America, integrating interlockings, signalling, and control systems within a centralized virtual data center [3] - Signaling X demonstrates that rail software can function globally on commercial off-the-shelf hardware, aiming to simplify infrastructure and reduce operational complexity [3] Infrastructure and Communication - The new digital signalling infrastructure includes interlockings, wayside equipment, traffic control centres, and onboard systems for 32 trains [4] - Communications will utilize 4G-LTE technology, with an option for future upgrades to 5G, which reduces the number of required interlocking systems and simplifies maintenance [4] Strategic Vision - Siemens Mobility's rail infrastructure CEO highlighted the significance of this project in Latin America, emphasizing the introduction of cutting-edge technology and setting new standards for railway operations and efficiency [5] - The company plans to establish a regional software maintenance Centre of Competence to support future projects across the region [5] Regional Success - This contract follows Siemens Mobility's recent success in Brazil, where it signed the largest ETCS Level 2 contract in Latin America [6] - The company has previously delivered automated metro and digitalization projects in various Latin American countries, including Mexico, Dominican Republic, Peru, Ecuador, Colombia, Brazil, and Argentina [6] - Siemens Mobility recently opened a £6m ($6.9m) multi-functional centre in Northampton to support modifications and upgrades for passenger trains across the UK [6]

Group 1 - The article discusses the process of obtaining electronic invoices for train tickets purchased through various means, including online and at ticket counters [5][9][14] - It outlines the steps for passengers and purchasers to verify their identities and request invoices, emphasizing the importance of using valid identification [8][9][10] - The article provides specific instructions for both online and offline ticket purchases, detailing the necessary steps to complete the invoice request process [9][14] Group 2 - The article mentions a recent announcement regarding the VAT policy for second-hand car sales, indicating a reduced VAT rate of 0.5% for eligible transactions [14] - It defines second-hand cars in the context of the policy and specifies that the policy will remain in effect until December 31, 2027 [14] - The article also addresses the applicability of tax relief policies for small-scale taxpayers transitioning to general taxpayers, clarifying that certain conditions must be met to retain benefits [19]

Core Insights - JR East Japan is expanding the functionality of the Suica card, aiming to transform it into a comprehensive payment platform across Japan by December 2024 [3] - The Suica Renaissance plan includes the introduction of barcode payment by autumn 2026, catering to consumer needs ranging from 20,000 to 300,000 yen (approximately 924.5 to 13,868 RMB) [3] - Additional features such as peer-to-peer transfers, discount coupons, and specific area limits will be introduced to enhance the versatility of the Suica payment tool [3] - The iconic penguin mascot of Suica will retire at the end of the 2026 fiscal year after 25 years, with a new mascot to be introduced [3] Company Developments - JR East Japan is positioning the Suica card as a multi-functional payment tool beyond transportation, enhancing its utility in shopping and general consumption [1] - The Suica Renaissance initiative signifies a strategic shift for JR East Japan, aiming to break existing boundaries and expand the card's usage [3] Industry Implications - The introduction of barcode payment and additional features may increase competition in the Japanese digital payment landscape, as companies seek to offer more comprehensive solutions [3] - The retirement of the long-standing mascot may signal a new branding direction for the Suica card, potentially attracting a younger demographic [3]

Core Insights - Rail Unit has entered a full-service leasing agreement with European Loc Pool (ELP) for the EuroDual locomotive, which enhances its fleet capabilities [1][6] - The EuroDual locomotive features a dual-power system with an electric output of up to 6.2MW and a diesel output of 2.8MW, providing operational flexibility [1][4] - The locomotive is scheduled to start service in September 2026 and will be utilized on all national routes throughout Germany [3] Company Overview - Rail Unit's managing director emphasized the importance of the EuroDual's flexibility, allowing the company to operate without reliance on third parties for non-electrified lines [2] - ELP focuses on six-axle hybrid locomotives equipped with the latest European Train Control System (ETCS) Baseline 3, enabling operations on category 2 lines [4] - ELP has been part of the German rail network since April 2020 and has been providing locomotive leasing and maintenance solutions since May 2018 [5]