Gagangir (Sonamarg), Jan 13: Prime Minister Narendra Modi on Monday dedicated the Sonamarg tunnel in Kashmir to the nation after inaugurating and inspecting it.

The inauguration event was also attended by Nitin Gadkari, Union Minister for Surface Transport and Highways, Lt Governor Manoj Sinha and Chief Minister Omar Abdullah.

PM Modi interacted with the engineers and workers, whose hard work made the all-weather connectivity possible. He encouraged and patiently listened to the labourers in addition to gathering technical details about the Rs 2,700 crore tunnel.

The Prime Minister appreciated the hard work put in by everyone engaged in the construction of the tunnel under the most challenging weather and topography of the area.

PM Modi earlier landed in a special aircraft at the technical area of Srinagar International Airport from where he took an Air Force helicopter for Neelgrad in the Sonamarg.

The PM landed at the Neelgrad helipad and drove in a cavalcade to the Gagangir area, where he inaugurated the Sonamarg tunnel.

PM Modi will also address a public rally at the truck yard in Sonamarg. Hundreds of people, braving extreme cold, have already gathered at the Sonamarg public rally venue to listen to the PM. This is PM Modi’s first visit to the union territory after an elected government took office here.

Sonamarg tunnel will bypass the stretch of the Srinagar-Sonamarg highway that is prone to avalanches and heavy snowfall during the winter months.

The National Highways and Infrastructure Development Corporation Limited (NHIDCL) oversaw the Z-Morh tunnel constructed by APCO Infratech Private Limited for Rs 2,700 crore. The construction of the tunnel was started in 2018. This tunnel will make Sonamarg an all-weather tourist destination, thereby helping employment for local youth, and boosting trade, tourism, and traffic to the Ladakh region, Amarnath Yatra and businesses.

The tunnel is a 6.5 km long 2-lane road tunnel between Gagangair and Sonamarg in Ganderbal of Jammu and Kashmir. It was earlier called the Z-Morh tunnel because of the Z-shaped stretch of road that the tunnel has replaced (Z-Morh translates to “Z-turn” in English). It takes only 15 minutes to travel the 6.5 km long tunnel compared to hours over the zig-zag road up and down the hills.

The Zojila Tunnel being constructed across the Zojila Pass together with the Z-Morh tunnel will make the journey to the Ladakh region safer and possibly throughout the year.

Chief Minister Omar Abdullah visited the Gagangir area of Ganderbal district on Saturday. “Visited Sonmarg today to review preparations for PM @narendramodi ji’s visit on Monday. The inauguration of the Z-morh tunnel will open Sonmarg to tourism all year round, Sonmarg will now be developed as a great ski resort. The local population will not have to leave in winter & the travel time to Kargil/Leh from Srinagar will also reduce,” he wrote on X on January 11.

Tech giant Apple Inc. has increased its Chief Executive Officer (CEO) Tim Cook’s salary by 18 per cent, according to exchange filling of smartphone giant.

In its annual proxy filing on January 10, Apple disclosed that Cook’s total compensation for 2024 rose to USD 74.6 million (Rs 643 crore), up from USD 63.2 million (Rs 544 crore) in 2023. It cited the raise largely to an increase in stock award value.

The decision was made prior to the February 25, 2025, Annual General Meeting (AGM) of the company. Cook’s pay is one of four external proposals that investors will vote on during the meeting, according to a Bloomberg report.

Salary breakup of Tim cook’s salary

A base salary of USD 3 million, stock awards of USD 58 million, performance-based bonuses of USD 12 million, and other benefits totaling USD 1.5 million are all part of the compensation package.

Security costs, private jet travel, 401(k) contributions, life insurance premiums, and vacation cash-outs are all covered by the extra pay.

Comparison to previous years compensation

Although a significant increase over 2023, this still falls short of Cook’s nearly USD 100 million 2022 salary, which soared as a result of the stock awards in his compensation package, according to the report. He made a 2023 pay cut offer in response to criticism from shareholders and staff.

However, according to the report, Apple has resisted every other proposal. It further stated that a proposal from shareholders to terminate the company’s diversity, equity, and inclusion (DEI) program is one of the proposals that have been blocked.

No change in 2025 compensation

The document disclosed that, in light of Cook’s ‘continued exceptional performance’ as CEO, Apple’s board has not altered Cook’s 2025 compensation plan. Citing efficiency and security concerns due to his prominent position, the company mandates that Cook travel exclusively in private aircraft for both business and personal purposes.

General counsel Kate Adams, chief operating officer Jeff Williams, retail chief Deirdre O’Brien, and former CFO Lucia Maestri all made about $27.2 million in 2024, which represents a slight increase over the previous year.

New Delhi, Jan 10: As the preparations for the Union Budget 2025-26, which generally comes on February 1, are in full swing, all eyes are now on the official confirmation from the government about presenting the budget over the weekend this year.

There have been occasions in the past when the Union Budget was presented on Saturdays and the domestic stock markets were open.

On February 1, 2020, and February 28, 2015, the markets were open on Saturday due to the presentation of the Union Budget.

In a circular dated December 23, the National Stock Exchange (NSE), has already said that due to the presentation of the Union Budget, a special trading session has been kept for Saturday, February 1, 2025.

“On account of the presentation of the Union Budget, Exchange shall be conducting a live trading session on February 01, 2025, as per the standard market timings,” according to the circular.

The pre-open session will be from 9 a.m. to 9.08 a.m. After this, there will be a normal trading session from 9.15 a.m. to 3.30 p.m.

On February 1, 2024, the Nifty closed with a decline of 0.13 per cent during the presentation of the interim budget.

On the day of the full budget presented on July 23, 2024, after the Lok Sabha elections, the Nifty closed with a decline of 0.12 per cent.

Meanwhile, the government will continue its focus on improving quality spending, strengthening the social security net, and reducing the fiscal deficit to 4.5 per cent of the GDP in the financial year 2025-2026, according to a Finance Ministry statement.

FM Sitharaman is expected to continue with the government’s position of increasing expenditure on big-ticket infrastructure projects and social welfare schemes for the poor while keeping the fiscal deficit in check when she presents the Union Budget for 2025-26 in Parliament on February 1.