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|LOS ANGELES Hulk Brazil Jersey , July 20 (Xinhua) -- U.S. technology pioneer Elon Musk tweeted Thursday that his Boring Company tunnel project has received "verbal government approval" to build a New York- D.C. hyperloop, which would drastically cut the travel time between the two cities.
"Just received verbal govt approval for The Boring Company to build an underground NY-Phil-Balt-DC Hyperloop. NY-DC in 29 mins," said the 46-year-old behind the automaker Tesla and commercial launch company SpaceX through his favorite platform, Twitter.
It now takes about three and half hours by train to travel from NYC to Washington D.C., and over four hours by bus.
The Boring Company hopes to alleviate traffic by expanding transportation corridors. "One option is to 'go up' with flying cars. However Giuliano Brazil Jersey , flying cars have issues with weather, noise, and generally increase anxiety levels of those below them. The other option is to 'go down' and build tunnels," according to the startup.
About an hour and a half later, Musk tweeted Gil Brazil Jersey , "still a lot of work needed to receive formal approval, but am optimistic that will occur rapidly."
Later Thursday, White House confirmed its officials have had "promising conversations to date" with Musk and executives from his Boring Company, according to a White House spokesman, who added that the administration was "committed to transformative infrastructure projects Ganso Brazil Jersey , and believe our greatest solutions have often come from the ingenuity and drive of the private sector," according to U.S. media reports.
In a later tweet on Thursday, Musk said the system would run from "City center to city center in each case, with up to a dozen or more entryexit elevators in each city."
Then the former PayPal executive added, "First set of tunnels are to alleviate greater LA urban congestion. Will start NY-DC in parallel. Then prob LA-SF and a TX loop."
The Boring Company started as a joke Gabriel Brazil Jersey , but became increasingly serious as Musk began tunneling in Los Angeles. In June, Musk announced that The Boring Company completed the first segment of its tunnel under Los Angeles.
"It has begun boring and just completed the first segment of tunnel in LA," Musk announced on June 28.
In April, while he was giving a TED Talk about the project, he released a video demonstration of the concept of hyperloop.
He had also revealed the planned route of the first tunnel: "Full length of first tunnel will run from LAX to Culver City Filipe Luis Brazil Jersey , Santa Monica, Westwood and Sherman Oaks. Future tunnels will cover all of greater LA."
Currently, tunnels are really expensive to dig, "with some projects costing as much as 1 billion U.S. dollars per mile. In order to make a tunnel network feasible, tunneling costs must be reduced by a factor of more than 10 Fernandinho Brazil Jersey ," The Boring Company said on its website.
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SEOUL, Aug. 3 (Xinhua) -- South Korea's foreign reserves hit a fresh record high last month as the weak U.S. dollar increased the conversion value of non-dollar assets, central bank data showed Thursday.
Foreign currency reserves reached 383.76 billion U.S. dollars as of end-July Fagner Brazil Jersey , up 3.19 billion dollars from a month earlier, according to the Bank of Korea (BOK).
The country's reserves denominated in foreign currencies kept rising for the fifth consecutive month, maintaining the record-breaking momentum for three months in a row.
The conversion value of non-dollar assets increased as the greenback depreciated versus its peers amid the political uncertainty and the slumping economic indicators.
The European single currency appreciated 2.7 percent to the dollar, with the British pound rising 1 percent versus the greenback. The Japanese yen gained 1.3 percent against the dollar.
The country's foreign reserves were composed of 354.55 billion dollars of securities holdings, 19.38 billion dollars of deposits Fabinho Brazil Jersey , 4.79 billion dollars of gold bullion, 3.29 billion dollars of special drawing rights and 1.73 billion dollars of IMF positions.
As of end-June, South Korea was the ninth-largest holder of foreign reserves.
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KUALA LUMPUR´╝î Oct. 7 (Xinhua) -- Malaysia's exports rebounded by 1.5 percent to 67.58 billion ringgit (16.3 billion U.S. dollars) in August´╝î recording the highest figure so far this year while improving from the 5.5 percent decline in July´╝î latest figures showed Friday.
The rebound was supported mainly by higher exports to some of Malaysia's major trading partners including India´╝î members of Association of Southeast Asian Nations (ASEAN) and the United States´╝î according to the statistics released by the Ministry of International Trade and Industry.
Better export performances were seen in the exports of manufactured and agricultural goods. Exports of mining goods continue to decline with a contraction of 14 percent in the month´╝î affected mainly by the 38.9 percent drop of liquefied natural gas exports.
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