In a mechanized revival of the caravans of goods-laden camels that once sustained Arabian commerce, highways, railroads and ports in Saudi Arabia, the United Arab Emirates and Oman have been transformed into an emergency logistics lifeline, circumventing the Strait of Hormuz waterway.
Mamdani Abandons Plan for Raising New York City Property Taxes
Mayor Zohran Mamdani is abandoning his proposal to increase taxes on all New York City property owners, following widespread criticism over the initiative.
The mayor continues to work with New York Gov. Kathy Hochul on instituting a more targeted pied-à-terre tax, which would apply to second homes worth $5 million or more.
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This article is a text version of a Wall Street Journal newsletter published earlier today.
(END) Dow Jones Newswires
05-13-26 0506ET
