People tend to be late, for example: if someone said they’ll be there at 7, they’ll probably show up 15 to 30 minutes late. Of course not all people are like that.
Trains usually run on time as do planes. There’s no scheduled time for the underground (subway) but they have regular time intervals. Buses are not as reliable.
Punctuality is neither valued nor expected, whether it be with people or with services. Doing business is slightly different, yet usually there is a range during which one is allowed to be late. It is like a hidden contract.
Traffic in major cities makes it very hard for people to be on time, even if they intended to.