Pakistani-American terror suspect in Times Square failed bombing Faisal Shahzad has waived his right to a speedy arraignment and is cooperating with authorities in sharing information related to the plot.

Shahzad was nabbed at JFK International Airport here after a two-day hunt by law enforcement officials. He was arrested on Monday night when he had already boarded an Emirates flight to Dubai enroute to Pakistan.

Shortly after his arrest, as many as seven persons linked to him were arrested from across Pakistan, where Shahzad is said to have received bomb-making training.

"The disclosure that Shahzad has waived his right to a speedy arraignment suggests that he is continuing to provide valuable information," the New York Times said.

Shahzad is not expected to appear in the court on Thursday.

Under law, a person who is arrested and charged with a federal crime must be brought before a judge and advised of his or her rights and the charges against them within a reasonable period of time - generally 24 hours or 48 hours.

But a defendant can waive that right.

Indian-American Preet Bharara of the Manhattan United States attorney's office is prosecuting the case.

Bharara, 41, said on Wednesday that the dedicated agents, detectives and prosecutors in this case will continue to follow every lead and use every tool to keep the people of New York City safe.

He also vowed that "we will not rest until every terrorist, whether homegrown or foreign-based, is neutralised and held to account."

The foiled terror plot that dramatically unfolded on Saturday when a foot patrol officer was informed by a T-shirt vendor that a suspicious SUV was parked in Times Square, which later turned out to be full of explosives.

New York Mayor Michael Bloomberg has urged Homeland Security for more money to protect New York.

"If anybody questions what the target is, it is always New York," he said. "This is where the terrorists come and we need Homeland Security funds."

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