The Metro Consortium, which includes Admiral insurance, British Gas and Cardiff Business School, says the transport system is an opportunity to rethink the role of towns and communities across the Valleys.
The report's author, Mark Barry, said the metro would simply connect connect the region, and "give the region the opportunity to be more economically effective."
More top news
The family and friends of Chantelle Madonia have been raising money for the British Heart Foundation in her memory.
Hundreds of people turned out on Sunday night to remember a 20-year-old from Cardiff who was fatally stabbed in Liverpool.
A 14-year-old was rescued after falling into the water at Ward's Pier.