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The <keyword id="6354705" type="General" weightage="20" keywordseo="Directorate-General-of-Civil-Aviation" source="Orion">Directorate General of Civil Aviation</keyword> has extended the ban on scheduled international commercial <keyword id="3161800" type="General" weightage="20" keywordseo="passenger-flights" source="Orion">passenger flights</keyword> to and from India till September 30. The ban was previously extended till the end of August. In a circular on Sunday, the <keyword id="6368649" type="General" weightage="20" keywordseo="Civil-Aviation" source="Orion">civil aviation</keyword> regulator said: "The competent authority has further extended the validity of circular issued on the subject cited above regarding Scheduled <keyword id="11974628" type="General" weightage="20" keywordseo="International-commercial-passenger-services" source="Orion">International commercial passenger services</keyword> to/from India till 2359 hrs IST of September 30, 2021." It added that this restriction shall not apply to international all-cargo operations and flights approved by the DGCA. However, international scheduled flights may be allowed on selected routes by the regulator on a case-to-case basis. Scheduled international passenger flights were suspended in India in March last year due to the Covid pandemic. While domestic flights resumed in May 2020 and were gradually increased, international travel remained suspended with consecutive extension of the ban. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/environment/news/mumbais-nariman-point-mantralaya-areas-will-be-submerged-by-2050-if-people-dont-wake-up-says-citys-municipal-chief/articleshow/85710647.cms">Mumbai's Nariman point, Mantralaya areas will be submerged by 2050 if people don’t ‘wake up’, says city’s municipal chief</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/enterprise/enterprise-software/news/freshworks-files-for-an-ipo-in-the-us-looks-to-raise-100-million/articleshow/85707900.cms">Freshworks files for an IPO in the US, looks to raise $100 million</a>

DGCA extends ban on international passenger flights till September 30

<ul><li>Russia has signed up with four large manufacturers in India to produce 300 million doses of the <keyword id="9739267" type="UNKNOWN" weightage="20" keywordseo="Sputnik-V">Sputnik V</keyword> vaccine in 2021.</li><li>This triples the amount of the vaccine that Russia has initially contracted to be manufactured in India. </li><li>According to the Russian Embassy, the first samples of the COVID-19 vaccine produced in India are already being tested by the Russian Direct Investment Fund (RDIF).</li></ul>Russia has signed on four large manufacturers to produce a whopping 300 million doses of the Sputnik V COVID-19 vaccine in India. This is a three-fold increase in the manufacturing of Sputnik V doses from before. "In India, we have agreements with four large manufacturers. ... India will produce about 300 mln doses or more of the vaccine for us next year," said Russian Direct Investment Fund (RDIF) chief <a href="https://tass.com/world/1236777/amp">Kirill Dmitriev</a>. One of the manufacturers is Hetero Biopharma, which <a href="https://www.livemint.com/news/india/hetero-drugs-to-produce-over-100-million-doses-year-of-sputnik-v-vaccine-11606459369285.html">announced</a> its deal with the RDIF to make more than 100 million doses of the vaccine in November, earlier this year. Dmitriev did not disclose who the three new vendors are. It’s possible that Dr. Reddy’s Laboratories may be roped in since it is already conducting the clinical trials of Sputnik V in India and will also distribute doses, once approval comes in from the DCGA. So far, only three COVID-19 vaccines from Oxford-AstraZeneca, Pfizer-BioNTech and homegrown pharmaceutical company Bharat Biotech, have sought approval for emergency use in the coming weeks. Sputnik V may not be in the running but according to the <a href="https://twitter.com/RusEmbIndia/status/1339813294647902208">Russian Embassy</a>, testing of the first samples of the vaccine that were produced in India is already underway. In trials done outside the country, the Russian vaccine has been found to be more than 91% effective. Like Oxford-AstraZeneca, Stupink V can survive at refrigerated temperatures of between two to five degrees Celsius, which gives it an edge over its competitors. SEE ALSO: <a href="https://www.businessinsider.in/science/news/fda-says-it-will-rapidly-work-toward-authorizing-modernas-covid-19-vaccine/articleshow/79789544.cms" data-type="tilCustomLink">FDA says it will 'rapidly work toward' authorizing Moderna's COVID-19 vaccine</a> <a href="https://www.businessinsider.in/tech/news/facebook-and-google-have-been-accused-of-striking-a-secret-illegal-advertising-deal/articleshow/79778780.cms" data-type="tilCustomLink">Facebook and Google have been accused of striking a secret, illegal advertising deal</a>

India will produce 300 million doses of the Russian Sputnik V COVID-19 vaccine next year

<ul><li>Vijaya Diagnostic IPO is the second diagnostic lab chain to list publicly in recent times after <keyword id="11265915" type="General" weightage="20" keywordseo="krsnaa-diagnostics" source="Orion">Krsnaa Diagnostics</keyword>.</li><li>The IPO of the company will open on September 1 and close on September 3 with a price band of ₹522 to ₹531 per share.</li><li>The company aims to deepen its presence in Andhra Pradesh, Telangana and is looking to acquire good diagnostic firms in eastern India to explore business opportunities there, said Sunil Chandra Kondapally, executive director at Vijaya Diagnostic in an interview with Business Insider.</li></ul>Vijaya Diagnostic, which is to launch its initial public offering (IPO) on Wednesday, is looking to acquire more diagnostics firms in eastern India to expand its business. The company has a strong presence in southern India in the states of Andhra Pradesh and Telangana and now looks to expand in some eastern states primarily through acquisition. The company offers a “one-stop solution” for pathology and radiology testing services through its 80 diagnostic centres and 11 reference laboratories across 13 cities and towns in the states of Telangana and Andhra Pradesh and in the National Capital Region and Kolkata. “We are a debt free company and due to our strong margin we also have liquidity on the balance sheet. We have built up a ₹250 crore cash on the book so priority is to use that corpus for the growth of the business. So we are definitely open for acquisition opportunities in any markets of interest,” said Sunil Chandra Kondapally, executive director at <keyword id="182111" type="General" weightage="20" keywordseo="vijaya-diagnostics" source="Orion">Vijaya Diagnostics</keyword> in an interview with Business Insider. The diagnostics company’s business model is different from that of similar listed diagnostics companies -- <keyword id="122279" type="General" weightage="20" keywordseo="metropolis" source="Orion">Metropolis</keyword> Lab, <keyword id="122277" type="General" weightage="20" keywordseo="dr-lal-pathlabs" source="Orion">Dr Lal PathLabs</keyword>. “Right from inception our focus has been to offer both radiology, pathology and imaging all under one roof so that the patient does not have to visit any other place. In that sense we are quite different as all our centres offer these services. 93% of our revenue comes from business-to-consumer (B2C) business whereas other players have more of [a] business-to-business (B2B) model,” added Kondapally. Further, the company is in hunt for diagnostics firms that have a similar kind of B2C business model with brand visibility. Vijaya Diagnostic Centre’s IPO is an entire offer for sale (OFS) from existing promoters of 3.56 crore equity shares. The company’s founder Dr. S. Surendranath Reddy will sell 50.98 lakh shares, Karakoram Limited will sell up to 2.94 crore shares and Kedaara Capital will sell partial stake of up to 11.02 lakh shares. The private equity investor and the promoter company are not exiting completely from the firm as post-issue Kedaara Capital will hold 10% stake in the company and the promoter will have 55% shareholding and remaining 35% will be available publicly for investors. Vijaya Diagnostic says it has a market share of 7% in its home market -- Andhra Pradesh, Telangana. Going forward, it looks to capture close to 20% of it. The market size of the business in both states is worth ₹5,100 crore, Kondapally said in the interview. The diagnostics company’s revenue and profit have also been increasing consistently. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Net profit (in ₹ crore) </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">84.9 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">62.5 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">46.2 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Revenue (in ₹ crore) </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">388.5 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">354.1 </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">302.9 </td></tr></tbody><tbody></tbody></table> The latest acquisition by the company in east India was listed firm Medinova Diagnostics Services in 2014, which had established centres in Kolkata. The subsidiary now contributes 3.7% (June quarter) of revenue to the company. Hence, Vijaya Diagnostic plans to add more centres in that region. Over 96% of the Vijaya Diagnostic’s revenue comes from Hyderabad, the rest of Telangana, and the Andhra Pradesh region. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/airtels-board-approves-raising-funds-of-up-to-21000-crore/articleshow/85737069.cms">Airtel’s board approves raising funds of up to ₹21,000 crore</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/dcga-extends-ban-on-international-passenger-flights-till-september-30/articleshow/85735218.cms">DCGA extends ban on international passenger flights till September 30</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/tokyo-paralympics-paddler-bhavinaben-patel-wins-historic-silver-in-womens-singles-tables-tennis/articleshow/85731500.cms">Tokyo Paralympics: Paddler Bhavinaben Patel wins historic silver in women's singles tables tennis</a>

IPO-bound Vijaya Diagnostic is planning more acquisitions in east India to expand business

New Delhi, Jan 10 () During the approval process for 737Max planes in India in 2017, Boeing executives used terms such as "fools" and "stupid" for the Indian aviation regulator DGCA, according to internal documents released by the company.
In early 2019, regulators across the world banned flying 737Max planes after two fatal accidents involving the aircraft that killed 346 people. The Directorate General of Civil Aviation (DGCA) also ordered grounding of these planes in March last year.
The latest batch of internal Boeing documents were provided to the US aviation regulator FAA (Federal Aviation Administration) and US Congress last month and released on Thursday.
In one of the conversations, a Boeing executive is recorded as stating, "The DCGA in India is apparently even stupider, if that's a word. I am drinking obviously."
In another conversation, a Boeing executive says the following about DGCA: "I just Jedi mind tricked this (these) fools."
SpiceJet is the only Indian carrier having 737Max aircraft in its fleet. The budget airline grounded 13 such planes in March last year.
When contacted regarding this matter on Friday, a senior DGCA official responded, "On the specific issue of simulator training, we have made our stand clear and shall have it and that too in India under our eyes."
On the other conversations among Boeing executives, the official told , "We respect his views and shall improve to come up to expectations."
According to the documents accessed by , on December 12, 2017, two Boeing executives had a discussion around 8.35 pm (local time) using text messages regarding the approvals of 737Max plane by DGCA in India.
In one of the conversations regarding 737Max approvals, the first Boeing executive states how officials of a regulator - which is not the DGCA - are "idiots".
The executive then adds, "The DCGA in India is apparently even stupider, if that's a word. I am drinking obviously."
The second executive responded,"Sounds about right!"
An hour later, two executives were recorded discussing the 737Max approvals - using text messages - by the DGCA in India. However, it is not clear if these two executives, who are discussing this matter, are the same ones who were talking about the matter earlier.
In this second conversation, the two Boeing executives are discussing a call that one of them had with the DGCA regarding 737Max approvals.
The first executive is recorded to have said, "I just Jedi mind tricked this (these) fools. I should be given $1000 every time I take one of these calls. I save this company a sick amount of $$$$."
The second executive then asked what did the first executive convinced the DGCA of.
The first executive responded, "To simply produce an email from me to the DGCA that states all the airlines and regulators... accept only the Max CBT (computer based training)."
The first executive further said, "To make them feel stupid about trying to require any additional training requirements."
In 2017, the DGCA was enquiring if it is necessary to have a mandatory simulator-based training for pilots that will fly 737Max planes in Indian airspace.
Since the ban of 737Max plane in India by the DGCA in March 2019, the regulator has made it clear to Boeing that simulator-based training must be conducted for all pilots of 737Max planes and only then a green light would be given.
When asked about the aforementioned conversations of December 2017 among its executives, Boeing India said, "These communications do not reflect the company we are and need to be, and they are completely unacceptable."
"We regret the content of these communications, and apologize to the DGCA, SpiceJet, and to the flying public for them," it added.
The company noted that the language used in these communications, and some of the sentiments they express, are inconsistent with Boeing values, and the company is taking appropriate action in response.
"This will ultimately include disciplinary or other personnel action, once the necessary reviews are completed," it added. DSP ZMN
ZMN

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DGCA extends ban on international passenger flights till September 30

IANS

India will produce 300 million doses of the Russian Sputnik V COVID-19 vaccine next year

Prabhjote Gill

IPO-bound Vijaya Diagnostic is planning more acquisitions in east India to expand business

Bhakti Makwana

Boeing executives called DGCA 'fools', 'stupid' during 737Max plane's approval process in 2017: Documents

PTI

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