Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul class="summary-list"><li>North Korea's Wonsan-Kalma beach resort is set to open in May 2025.</li><li>Kim Jong Un visited the beach earlier this week to finalize plans for the resort's completion.</li></ul>A long-awaited <a target="_blank" class="" href="https://www.businessinsider.com/bleak-images-show-snapshots-daily-life-north-korea-2024-3">North Korean</a> beach resort is set to open in May 2025 as part of the country's plans to "boost tourism," North Korean state news agency <a target="_blank" class="" href="https://kcnawatch.org/newstream/1721257271-488263950/respected-comrade-kim-jong-un-gives-field-guidance-over-construction-of-wonsan-kalma-coastal-tourist-area/">KCNA</a> reported.<a target="_blank" class="" href="https://www.businessinsider.com/category/kim-jong-un">North Korean leader Kim Jong Un</a> visited the Wonsan-Kalma site on the country's eastern coast earlier this week and was pictured smiling alongside top officials as he surveyed plans for the final stages of the resort's construction."A coastal wonderland to be known to the world as the best tourist resort of (North Korea) would be successfully built," Kim was quoted as saying by KCNA.<div type="image" title="Kim Jong Un on a beach with his deputies" height="610" width="928" msid="111906946" hostid="261"></div>For several years, North Korea has been building luxury hotels and recreational facilities in Wonsan-Kalma in an attempt to attract more international visitors.But the beach resort project had suffered some delays because of COVID-19 restrictions and construction materials shortages.During his visit, Kim warned that the resort "will depreciate in its value as a tourist area if the level of the service and operation is low," ordering additional work be carried out, including "building an amusement park and a leisure activity area" and "ensuring the capacity for garbage and sewage treatment and training experts for all services."<div type="image" title="Kim Jong Un walks across beach with deputies." height="616" width="932" msid="111906942" hostid="261"></div>Wonsan is a favorite retreat of the Kim family, who own a fortified palace in the area, <a target="_blank" class="" href="https://fingfx.thomsonreuters.com/gfx/rngs/NORTHKOREA-TOURISM/0100516J2NK/index.html">Reuters</a> reported in 2017.The palace comes with its own private beach, train station, runway, and basketball court — and former NBA star Dennis Rodman even stayed there during his well-documented <a target="_blank" class="" href="https://www.businessinsider.com/dennis-rodman-north-korea-2013-12">trip to the country in 2013</a>, the report said.Wonsan is also home to a missile launching site. The adjacent Kalma airport has a launchpad, observation points, and hangars, Reuters reported, citing 38 North, a program of the Stimson Center think tank that focuses on North Korean affairs.A beach in Wonsan was also used for what state media called North Korea's "largest-ever" artillery drill in 2017, per the report.<div type="image" title="Kim Jong Un and deputies sat around a table." height="608" width="930" msid="111906948" hostid="261"></div><h2 id="346fd513-2f13-4448-ba00-1ed4077e624f">North Korea's tourism industry</h2>North Korea has been attempting to revive its struggling economy in recent years.The country's borders are largely closed off to foreign tourists, <a target="_blank" class="" href="https://tass.com/world/1780125">except for some Russians</a>, and its population of roughly 26 million people lives largely in isolation from the rest of the world.But in 2019, 300,000 foreign tourists visited North Korea, a record number that helped bring in between $90 million to $150 million, <a target="_blank" class="" href="https://apnews.com/article/north-korea-tourism-kim-09517df3124c5b005a9c6866ed82788a">the Associated Press reported</a>, citing experts.Around 90% of international tourists visiting North Korea prior to the pandemic were Chinese, per the AP — making them a likely target customer for the Wonsan-Kalma project.Earlier this month, state media also reported that Kim was hoping to invite "foreign friends" to a resort near Samjiyon in the country's north, close to the border with China.

North Korea finally set to open a deserted beach town resort next door to a missile test site

<ul><li>Action will be taken against any private lab that charges more than the fixed rate, as per an order issued by the government. </li><li>The state government on June 29 had capped the rate at Rs 2,400. </li></ul> The <keyword id="6360371" type="UNKNOWN" weightage="20" keywordseo="jharkhand">Jharkhand</keyword> government on Tuesday slashed the maximum price of RT-PCR tests for COVID-19 to be charged by private laboratories to Rs 1,500, officials said. The state government on June 29 had capped the rate at Rs 2,400. The decision was taken in view of the fall in rates of the kits and related items required to conduct the tests, officials said. Action will be taken against any private lab that charges more than the fixed rate, as per an order issued by the government. SEE ALSO: <a href="https://www.businessinsider.in/science/news/bill-gates-says-the-pandemic-wiped-out-25-years-of-vaccine-progress-in-25-weeks/articleshow/78117898.cms">Bill Gates says the pandemic wiped out 25 years of vaccine progress in 25 weeks</a> <a href="https://www.businessinsider.in/education/news/uks-new-visa-rules-make-it-easier-for-international-students-to-study-and-work-now/articleshow/78127748.cms">UK’s new visa rules make it easier for international students to study and work now</a>

Jharkhand caps COVID-19 test rate at private labs to ₹1,500

<ul class="summary-list"><li>The <keyword id="11899468" type="UNKNOWN" weightage="60" keywordseo="fda" source="Orion">FDA</keyword> said rapid antigen tests appeared less sensitive against <keyword id="12616996" type="UNKNOWN" weightage="60" keywordseo="omicron" source="Orion">Omicron</keyword>, citing early lab studies.</li><li>Rapid tests are generally less accurate than PCR tests.</li></ul>Rapid antigen tests appear less sensitive to Omicron than previous variants, the Food and Drug Administration <a href="https://www.fda.gov/medical-devices/coronavirus-covid-19-and-medical-devices/sars-cov-2-viral-mutations-impact-covid-19-tests#omicronvariantimpact">said Tuesday</a>."Early data suggests that antigen tests do detect the Omicron variant but may have reduced sensitivity," the FDA said.The statement is based on laboratory findings, which are generally less dependable than clinical-trial results.But because clinical trials take a lot longer, laboratory findings are the "best way to evaluate true test performance in the short-term," the FDA said. People can still use the rapid tests — which are cheaper and more convenient — but should be aware of their shortcomings, the FDA said.A follow-up PCR test is much more reliable and should be used by people who have symptoms or know they have been exposed to the <keyword id="11893194" type="UNKNOWN" weightage="60" keywordseo="coronavirus" source="Orion">coronavirus</keyword>, the FDA added.<div type="image" title="When your COVID-19 test is positive infographic." height="1793" width="2500" msid="88568239" hostid="261"></div>The news came as the White House prepared to distribute <a href="https://www.businessinsider.com/how-to-get-free-rapid-covid-19-test-federal-government-2021-12">500,000 free rapid COVID-19 tests</a> and <a href="https://www.businessinsider.com/insurers-dont-have-to-retroactively-reimburse-at-home-covid-tests-2021-12">make over-the-counter kits free starting in January</a>.How well rapid tests perform against Omicron has been debated widely as the new variant has surged around the world.The <a href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1042688/RA_Technical_Briefing_32_DRAFT_17_December_2021_2021_12_17.pdf">UK Health Security Agency</a> previously said there was "no change in performance" of these tests against Omicron. This was also the position held by the FDA <a href="https://www.fda.gov/medical-devices/coronavirus-covid-19-and-medical-devices/sars-cov-2-viral-mutations-impact-covid-19-tests?utm_medium=email&amp;utm_source=govdelivery#omicron-reduced">one week ago</a>.The latest run of experiments changed the agency's mind. In that batch, the FDA used live virus taken from patient samples, which is a good proxy for what is happening in the real world.<div type="image" title="Women with mask, hat and gloves holds up rapid test." height="2993" width="3991" msid="88568241" hostid="261"></div>"Although the data is preliminary, the FDA believes it is important to share with the public," Stephanie Caccomo, an FDA spokesperson, <a href="https://www.politico.com/news/2021/12/28/fda-antigen-tests-reduced-sensitivity-omicron-526217">told Politico</a>. "We will continue to keep the public informed if additional information comes to light."Abbott, one of the main providers of rapid tests in the US, contacted Insider to dispute the FDA findings.John M. Koval, a spokesperson for the company, said Abbott's lab analysis and customer data showed that its tests worked as well for Omicron as for other variants.Koval pointed to <a href="https://twitter.com/michaelmina_lab/status/1475986403611889665">a Twitter thread posted by the epidemiologist Michael Mina</a>, who said that the tests were not at fault.Instead, Mina said Omicron appeared harder to spot with tests because it caused more infection with less virus in the lab. This, he said, would be hard for any test to find.<h2>Rapid tests are generally less sensitive</h2>Even before Omicron emerged, rapid tests were known to be hit or miss.One review found that these tests were 58% accurate for those who didn't have symptoms and 72% accurate for those who did, <a href="https://www.businessinsider.com/false-negative-reasons-rapid-covid-test-may-show-bad-result-2021-12">Insider previously reported</a>.Timing of testing is also crucial, as it takes a couple of days for the virus to spread enough in the body to be picked up by a test, <a href="https://www.businessinsider.com/how-to-trust-rapid-covid-test-result-2021-12">Insider's Hilary Brueck and Shayanne Gal previously reported</a>.The best bet, according to available data, is to take <a href="https://www.businessinsider.com/how-to-trust-rapid-covid-test-result-2021-12">several rapid tests over a few days</a> and <a href="https://www.businessinsider.com/omicron-rapid-test-hour-before-party-not-day-before-expert-2021-12">test hours, not days, before</a> mixing with others, experts previously told Insider.That might be even more true for Omicron, given the latest data, which suggests that the viral load required to trigger an antigen test is higher with the variant than with others.Masking is still recommended in social settings, especially since vaccinated people seem more likely to carry Omicron than previous variants, <a href="https://www.cdc.gov/coronavirus/2019-ncov/variants/omicron-variant.html">according to the CDC</a>.

Rapid COVID-19 tests are worse at detecting Omicron, FDA says, citing new lab data

<ul class="summary-list"><li>Justin Breen, an attorney at the law firm Proskauer, is a go-to private-credit lawyer.</li><li>First focusing on banks, now asset managers, his career has traced the market's growth.</li></ul>Justin Breen's legal career has traced the arc of the rapidly expanding private-credit market. When he started out some 20 years ago, he worked primarily with banks that were underwriting company loans. Now, he focuses almost exclusively on private credit.He counsels the biggest names in <a target="_blank" href="https://www.businessinsider.com/private-credit-toast-of-the-town-greenwich-economic-forum-2023-10">private credit</a> — including Ares Capital, Golub Capital, Bain Capital, and Churchill Asset Management. He's closed finance deals worth some $100 billion and coordinated debt for European football clubs including Atlético Madrid, as well as the carmaker and <a target="_blank" href="https://www.insider.com/f1-drivers-weight-limit-fitness-training-diet-2023-10">Formula 1 competitor</a> McLaren.As lending to the thousands of businesses in the so-called middle market (filled with companies that aren't tiny startups, but aren't large public corporations, either) has shifted outside the traditional banking system, private-equity firms' private-credit arms have sought out bigger teams of experts and lawyers to help them get deals done.Breen is a partner at the law firm Proskauer, where he leads the firm's global finance practice as a go-to lawyer advising influential money managers in a space that analysts expect to grow by multiples. Investment firms have eaten into banks' share of the loan market, extending credit to companies that are considered too risky for banks to lend to.Breen describes himself as a collaborative dealmaker. "We're an industry that doesn't lack for egos, but it's really not about us. We are there to help facilitate resolutions, come to a good deal, help our clients put money to work," he recently told Business Insider."I'd love to say that I was prescient and knew exactly what the market was going to turn into. I'm not sure anybody fully appreciated it would turn into this," he said.This interview has been lightly edited for length and clarity.You've been at Proskauer for about 13 years, and during that time you've seen tremendous growth in the private-credit market. What has your path been like?In 2002, I started my career at Cahill Gordon, a market leader in the syndicated bank bond space. When I was there, I would say that about two-thirds of my practice was really representing investment banks in the syndicated bank bond world: sponsors buying a company, needing committed financing, and using a bank bridge that hopefully turns into a successful bond deal.They were smaller checks than you see now, but I'd like to think I saw enough of the deal flow where the check sizes were getting bigger and bigger. You had to take notice of how prominent it was becoming, and the players involved kept increasing. In 2010, I was approached by Proskauer to come here, and it was a really good fit.I'd love to say that I was prescient and knew exactly what the market was going to turn into. I'm not sure anybody fully appreciated it would turn into this. There was certainly a lot of right place, right time, a little bit of luck involved, but right when I came here in 2010, it felt like the faucet really turned on. I started off working somewhat with banks, and a portion of my practice was still with banks, and back then, maybe 50% was with asset managers. Over time, the market has matured to where almost everything I do now is with asset managers.You mentioned that it's a really competitive market right now, and even that feels like an understatement. How has the private-credit market changed over your career?The market has changed drastically. I think the easy answer is there's just a lot more money. So there are more investors investing in these asset managers, which allows the asset managers to then put more money out. The deals sort of keep getting bigger and bigger: $2 billion, $3 billion, $4 billion, $5 billion deals competing with that syndicated bank bond market.I think the interesting thing about the competitive dynamic is that the level has just dramatically increased. Twenty years ago, private-equity sponsors rarely had people who were dedicated to doing these transactions. They relied entirely on their lawyers.Now, every major private-equity firm has not only one or two but sometimes complete teams of debt capital markets experts. Their sole roles are facilitating a competitive process on these financings, to push the terms in a way that makes sense for them to create a really competitive market dynamic.What's a deal, or a type of deal, that was particularly rewarding for you?A few years ago, we had a client come to us and they were interested in potentially looking at making investments in the sports, media, and entertainment space, which for us couldn't have fit better into our firm and what we do. So we started having conversations with them.Fast-forward three years later, we've helped them form the fund. We've done a bunch of investments. As an avid sports fan, it's personally a lot of fun. It's something kind of new. But again, I think it's one of those things that just kind of highlights the strength of the private-credit product because it allows the flexibility to invest in US sports teams and European sports teams.Every sport has its own unique sort of rules and regulations. Threading the needle and finding a way to help our clients make those investments that fit within that rubric, while also sticking to their investment guidelines, has been a lot of fun.What would you say are the biggest risks that your private-credit clients face today?I'd almost flip the question because I think the reality is the resilience of this product has shown despite all of the risks. So we lived through COVID, we lived through a bunch of different things that have come up in the last few years, including what happened with Silicon Valley Bank.We're living in a rising rate environment, and I think people keep looking for reasons to say, "Well, the private-credit market, here it is — with rising rates, this is going to hurt." And it really hasn't happened. The product has been really resilient. Loss ratios are super low, default rates are really low. I think because of the relationship aspect with some of this stuff, when you do have companies that aren't in great shape, it's not always a race to the bottom. There's a real discussion between sophisticated institutions as to what they're going to do to fix that problem.Sometimes it's not fixable, and our clients need to take it over. Every once in a great while, a company goes through a bankruptcy. But by and large, in this industry, almost everything is an out-of-court workout.Do you mean that if there's trouble at a company, it's more likely that the sponsor can work out something like a repayment plan behind closed doors rather than going through a bankruptcy?Exactly. Sometimes, a lender might make concessions and defer some of the cash interest for a period of time, or change some of the covenant restrictions for a certain period of time in exchange for some additional economics, some other rights. Sometimes the sponsor might put in some of their own money to help see a company through a rough patch.Sometimes, the lenders do it. There's usually a conversation about all this stuff that I think really facilitates a better result. I think that's proven true. The default rates are, notwithstanding the current environment, still historically low.They are, and they are expected to rise. Your firm's index that tracks private-credit defaults showed that while the overall default rate fell to 1.4% in the third quarter, defaults rose for some subsets of borrowers. With more companies facing more expensive debt loads, can you walk through what happens between a private lender and a company in trouble?The short answer is that every situation is different, but one of the interesting things about the private-credit market is that, unlike the syndicated market, there is still a significant amount of the market where there is a financial maintenance covenant tested quarterly. The borrower will send in a compliance certificate showing the EBITDA, the debt, the leverage ratios, and things like that. And because of that, lenders usually have a clearer picture of what the company's performance is looking like over time.I'll admit, it's a cliché to end an interview by asking where you think the market is going, but I think with the aggressive expansion of private credit, it's a question worth asking. What will fund managers come up with next?I don't see any signs that the market is slowing down — just the opposite. I think expansion isn't only in the different products they're offering, which isn't necessarily front-page news like a sponsor buying a company, but we're doing private-credit financings for clients in different industries.For instance, we have clients who have dedicated healthcare funds, dedicated sports funds, you name it. We're also seeing different types of products. There's a real flight to financing real assets. There's a real interest in infrastructure debt, real-estate financings, alternative credits, NAV loans, you name it. Asset managers and our clients are really focused on expanding that offering.

Meet Justin Breen, a top lawyer at the forefront of the private-credit boom

<ul class="summary-list"><li>Private bankruptcy filings this year have surpassed a peak set in the early stage of the pandemic, UBS said. </li><li>Bankruptcies were on the rise before the banking turmoil caused by the collapse of SVB and Signature Bank. </li></ul>Warning signs of a potential credit crunch were flashing even before Silicon Valley Bank's stunning collapse, as this year sees record high bankruptcy filings by small- to mid-sized private businesses, according to UBS.Financial markets this month were whipped around after the biggest bank failure since the global financial crisis highlighted worries about the impact of tighter credit conditions for American businesses and consumers.["We] believe one of the more underappreciated signs of distress in US corporate credit is already emanating from the Small and Mid-size Enterprises sector," Matthew Mish, head of credit strategy at UBS, wrote in a recently published research note.Some of the "smallest of firms facing the most severe pressure from rising rates, persistent inflation and slowing growth," said Mish.So far in 2023, private bankruptcy filings have outstripped a peak set in the early stage of the COVID pandemic by a wide margin. The four-week moving average of 7.8 in late February towered over the 4.5 moving average in June 2020, UBS Evidence Lab said in the note.Bankruptcy hot spots include the real estate industry, which has led this year's increase in private bankruptcy filings. The healthcare sector, meanwhile, is among the ones to watch for signs that credit stress is pushing into US labor markets, global strategists at the Swiss investment bank said.The weekly data collected by UBS flicks to worrisome trends about smaller business going belly-up even before the month's banking industry shakeup stemming from the failures of SVB and crypto-friendly Signature Bank.The <a href="https://markets.businessinsider.com/news/stocks/svb-fdic-bank-failures-costs-23-billion-hole-special-assessment-2023-3">FDIC is facing more than $20 billion in costs</a> after coming to the rescue of depositors at those banks, stoking concerns that other small banks will come under liquidity stress and <a href="https://markets.businessinsider.com/news/stocks/svb-banking-crisis-deposits-loans-credit-crunch-consumers-commercial-economy-2023-3">pull back on lending to businesses and retail clients.</a>Smaller and regional banks are "critical" to small and medium-sized businesses as they hold 40% of loans and debt at those companies, said UBS. Companies with fewer than 500 staff members make up 58% of the privately employed workforce in the US, <a href="https://markets.businessinsider.com/news/stocks/credit-crunch-recession-economy-loans-small-businesses-svb-bank-crisis-2023-3">Pantheon Macroeconomics recently wrote,</a> underscoring the key role those businesses hold in the world's largest economy. Fiscal stimulus and the Federal Reserve's Main Street Lending Program did suppress bankruptcy filings in 2020, but "the YTD spike is nevertheless stark - outright and relative to public filings - and a clear indication that a fulcrum of credit stress this cycle is in smaller corporates," Mish said.Sector watch"Fortunately, at this stage, the concerning trend in private filings does not appear to have spilled over to the US labor market," Mish added.The UBS Evidence Lab Corporate Bankruptcy Monitor tracks US corporate chapter 7, 11, and 15 bankruptcy filings. After sifting through data, UBS outlined several takeaways, including that private bankruptcy filings are led by the real estate, chemicals, healthcare, and retail industries.UBS also mapped out the top 15 sectors by filings year-to-date to data from the Bureau of Labor Statistics as a percentage of private sector employment. "The results suggest healthcare, retail, construction, restaurant and financial sectors will be key to watch moving forward."<a href="https://www.bloomberg.com/news/articles/2023-03-30/kashkari-says-unclear-if-svb-collapse-will-cause-credit-crunch?sref=GUP2BhaG" target="_blank" rel="noopener">Federal Reserve Bank of Minneapolis President Neel Kashkari said</a> this week that it was too early to determine whether SVB's implosion will lead to a credit crunch."What's unclear right now is how much of the banking stresses of the past few weeks is leading to a sustained credit crunch which would then slow down the US economy," Kashkari said at townhall in St. Paul, Minnesota, on Thursday, according to Bloomberg.Banks, on average, "have a lot of capital" and the Fed with other regulators is there to support the banking system, Kashkari said. "So that should give us all confidence. It's going to take us a while until we fully understand, are there more losses out there," the Fed official said.<div type="image" title="Charts from UBS Evidence Lab show a rise in US corporate bankruptcy filings in 2023 above COVID pandemic-era levels." height="674" width="1588" msid="99172253" hostid="261" sizebytes="86410"></div>

Private bankruptcy filings are blowing past their COVID-era peaks as credit stress builds for small businesses

<ul class="summary-list"><li>On a Christmas <keyword id="11920813" type="UNKNOWN" weightage="60" keywordseo="vacation" source="Orion">vacation</keyword> in <keyword id="11909321" type="UNKNOWN" weightage="60" keywordseo="jamaica" source="Orion">Jamaica</keyword>, Beth Ring and her husband tested positive for COVID-19.</li><li>After spending two days in a state-run <keyword id="11896022" type="UNKNOWN" weightage="60" keywordseo="quarantine" source="Orion">quarantine</keyword> hotel, the couple chartered a $35,000 flight home.</li></ul>On Christmas morning, Beth Ring was relaxing in a villa in Jamaica. Beth, 53, her husband, Dan, 54, their five children, and their son's girlfriend were wrapping up an eight-day vacation at the <a href="https://makeitjamaica.com/" target="_blank" rel="noopener noreferrer">Mais Oui Villa</a>, a luxury accommodation they said cost about $2,250 a night.Beth Ring told Insider they took a number of precautions: Most had gotten their booster shots, they ate outdoors, chartered private boats to avoid strangers, masked up in public, and prioritized activities outside.But as the trip came to a close, Ring said she noticed a dry throat and cough. The day before she was set to fly home to Chicago, Ring said she and her family took rapid at-home antigen COVID-19 tests.A negative test was required to board their return flight, but Ring and her husband tested positive.The couple ended up spending two and a half days in a government-run quarantine hotel before choosing to leave the mandated quarantine and pay $35,000 for a private air ambulance — a luxury service that is becoming increasingly popular among those who can afford it — to get home.<h2>Dan and Beth Ring say they had limited options for where to quarantine after testing positive</h2><div type="image" title="The Mais Oui Villa, where the Rings vacationed for eight days." height="1124" width="1500" msid="89189426" hostid="261"></div>At the time of their trip, Jamaica's Health Ministry <a href="http://radiojamaicanewsonline.com/local/health-ministry-revises-isolation-period-for-persons-infected-with-covid-19" target="_blank" rel="nofollow noopener sponsored nofollow sponsored nofollow sponsored">required travelers who tested positive to quarantine for 10 days</a> (the current policy <a href="https://www.visitjamaica.com/travelauthorization/" target="_blank" rel="nofollow noopener sponsored">has since been shortened to five days for US travelers as long as they're asymptomatic</a>). As part of the original policy, travelers who tested positive would then have two options — find accommodations at their own expense or go to a free government-run quarantine hotel.Beth and Dan Ring said they had limited options. Mais Oui is rented to one group at a time, and new guests were set to arrive, so quarantining there wasn't possible. Darrell Looney, an owner of the villa, told Insider there were reciprocal arrangements in place to accept COVID-19-positive guests with other villas and properties but at the time of the Rings' <keyword id="11896628" type="UNKNOWN" weightage="100" keywordseo="travel" source="Orion">travel</keyword>, those locations were booked because of an influx of holiday vacationers. According to the <a href="https://www.jamaicaobserver.com/latestnews/Tourism_Ministry_says_winter_season_off_to_impressive_start" target="_blank" rel="nofollow noopener sponsored nofollow sponsored">Jamaica Observer</a>, Jamaica in December experienced a surge in tourists, with numbers comparable to pre-COVID-19 times.Because of the influx of tourists, they also had trouble finding another hotel with an open room. "Our hosts were making calls, trying to find us another villa where we could stay, but everything was booked," Beth Ring said. They were able to book a room at the El Greco Resort, a free government-run quarantine hotel. Ring said she knew El Greco wouldn't be like the Mais Oui, which had a private chef, butler, and luxury environs. But she said spotty WiFi, a lack of hot water, and concerns about the hotel's COVID-19 protocols cemented her and her husband's decision to charter the private flight home.Representatives for Jamaica's Ministry of Health did not respond to Insider's requests for comment about the accommodations.The couple started filling out paperwork for Air Ambulance Worldwide on December 26, shortly after checking in to the quarantine hotel, and wired the service $35,000.<h2>Private jets and air ambulances have become popular in the pandemic for those who can afford them</h2><h2><div type="image" title="A private jet awaits passengers, while on a taxiway at Teterboro Airport in New Jersey" height="3197" width="4262" msid="89189427" hostid="261"></div></h2>For a fee, a private air-ambulance service could take the Rings back to the US, and in the event that they got sicker, they'd be back home for medical care.They're hardly alone in seeking out this type of travel. Since March 2020, there's been a surge in demand for the private air industry, whether for medical flights or leisure. Private-jet travel removes the need to enter crowded airports or airplanes, making it an <a href="https://abcnews.go.com/US/private-jet-firms-soaring-popularity-big-covid-19/story?id=81773530">attractive option for those who can afford it</a>.Wired reported the pandemic had created a "<a href="https://www.wired.co.uk/article/coronavirus-planes-bonanza" target="_blank" rel="nofollow noopener sponsored">middle-class private-jet boom</a>," and <a href="https://www.bloomberg.com/news/articles/2021-11-19/billionaire-economy-is-booming-with-private-jets-superyachts-and-mansions" target="_blank" rel="nofollow noopener sponsored">Bloomberg said</a> departures this year from New Jersey's Teterboro Airport, a popular private-jet terminal, were up 61% from a year earlier and that private-jet travel was up 19% in Europe and Asia in October from the same time period two years prior.And like the Rings' flight, these planes are not cheap. <a href="https://www.cnbc.com/2021/11/30/how-much-does-it-cost-to-charter-a-flight-new-flyers-share-prices.html" target="_blank" rel="nofollow noopener sponsored">CNBC reported</a> that a private flight for a family of four from New York City to Washington, DC, could easily cost between $10,000 and $50,000, while individual flights could range from $1,200 to $36,000, depending on the company, route, and amenities.Beth Ring said she reached out to a few emergency-air-evacuation companies for price estimates. <a href="https://www.airambulanceworldwide.com/">Air Ambulance Worldwide</a> quoted them between $30,000 and $35,000 for a flight, while another company quoted them twice that amount. Representatives for Air Ambulance Worldwide did not respond to Insider's request for comment. But Ross Thompson, the CEO of <a href="https://covacglobal.com/" target="_blank" rel="nofollow noopener sponsored">Covac Global</a>, a membership-based medical-evacuation and repatriation company, told Insider his company completed over 60 air evacuations between Christmas and January 6. Typically, Covac does two or three evacuations a month, he said.<h2>The Rings said their private flight experience was not the height of luxury</h2><div type="image" title="The plane that flew the Rings from Jamaica to Chicago, Illinois." height="1124" width="1500" msid="89189428" hostid="261"></div>While some private planes exude opulence, medical charters are quite different.Beth and Dan Ring said Air Ambulance Worldwide was able to find them a plane that could depart on December 29 if they had a letter of approval from Jamaica's medical director, the only way to end quarantine early. They submitted the request and waited, Beth Ring told Insider, and after 20 minutes, a letter arrived saying they did not comply with the ordered quarantine but were fit to fly, as medical air evacuation was a permitted practice.They boarded the plane, and it landed in Chicago that evening. While a private plane typically conjures images of luxury, Ring said the flight wasn't a typical chartered flight since it was an air ambulance. Two medical professionals were on board with the couple, the Rings wore masks the entire time, and there was no bathroom.Ring said they were fortunate to have the means to charter a flight. She added that if they had been able to quarantine at the Mais Oui, they might have considered staying but going home as soon as possible was their goal.<h2>Beth said she would travel again with a better quarantine plan — and travel insurance</h2>Ring said she thought booking a private villa would be the safest way to vacation since it seemed more isolated than a resort with Mais Oui's 11,000 square feet of living space, fully vaccinated staff, hands-free check-in, and meals served outdoors. "We cannot guarantee that our guests won't get COVID-19; however, we go above and beyond most villas to provide an environment with protocols to reduce the odds as much as possible in our villa," Looney told Insider. But for future vacations, Ring said she was more likely to consider a resort — many of which have quarantine floors for guests who test positive — to avoid another state-run quarantine.She also said she wished she did more research on COVID-19 travel insurance. <a href="https://covacglobal.com/" target="_blank" rel="nofollow noopener sponsored">Covac Global</a>, for instance, costs between $750 to $1,000, depending on the location and length of a trip, and covers the cost of a private flight if needed. "We were lucky enough to buy ourselves out of trouble," Ring said, adding that she wondered what would've happened if a room at El Greco hadn't opened up and if she wasn't in the position to afford a chartered flight."There were so many ways it could've been worse," she said. "We felt OK, our kids got to go home, and we weren't sick."

After testing positive for COVID-19 in Jamaica, a couple paid $35,000 for a private jet home &mdash; and they're not the only Americans doing it

<ul class="summary-list"><li>Testing for my family of four to <keyword id="11896628" type="UNKNOWN" weightage="60" keywordseo="travel" source="Orion">travel</keyword> from the <keyword id="11897975" type="UNKNOWN" weightage="60" keywordseo="uk" source="Orion">UK</keyword> to Spain cost £550, or $762. </li><li>There is no reason that testing needs to cost this much, especially when there are free at-home tests available. </li><li>Private companies are jacking up prices, making overseas travel out of reach for many. </li><li>Gabrielle Pickard-Whitehead is a freelance writer, journalist and editor based in the UK.</li><li>This is an <keyword id="11905565" type="UNKNOWN" weightage="100" keywordseo="opinion" source="Orion">opinion</keyword> column. The thoughts expressed are those of the author. </li></ul>PCR testing has emerged as a <a href="https://www.grandviewresearch.com/industry-analysis/covid-19-diagnostics-market">multi-billion dollar industry</a>, and the UK is the world's <a href="https://www.standard.co.uk/news/uk/uk-expensive-pcr-covid-test-travel-2021-cheapest-deals-turkey-usa-b950316.html">second most expensive</a> place for COVID travel tests, behind only the US. With extortionate prices for PCR tests, overseas holidays were pushed off-limits for many UK families this year, making trips abroad a luxury of the better off. Determined to visit our ramshackle old farmhouse in the Andalusian mountains in Spain where myself, my husband, and our two boys lived for the better part of a decade, we had no choice but to pay the exorbitant expense of COVID travel testing. The compulsory testing equated to an additional £550 ($762) on top of the cost of the holiday, and the sum would have been significantly higher if myself and my husband had not been fully vaccinated. The Spanish government <a href="https://inews.co.uk/inews-lifestyle/travel/spain-travel-covid-tests-uk-pcr-testing-rules-amber-list-countries-explained-1136860">requires</a> all arrivals to Spain from Britain to show a negative PCR test taken within 72 prior to arrival, or proof of full vaccination - our unvaccinated teenage sons had to have a PCR test before leaving the UK at the cost of £70 ($97) each. The majority of the COVID testing budget was spent on re-entering Britain, where a compulsory day two test administered by Randox - hailed as the <a href="https://www.randox.com/algarve-test-to-return/">UK's largest COVID-19 PCR testing provider</a> - cost us £240 ($332). This was on top of the 160 euros we had to pay just a couple of days earlier to acquire a negative COVID antigen test certificate in order to leave Spain. This nasal swab test, like the rapid <a href="https://www.europe-consommateurs.eu/en/travelling-motor-vehicles/covid-19-testing-where-to-be-tested-in-europe.html">'self tests'</a> that are provided for free for domestic use in Britain, doesn't have to be sent off to a laboratory and provides results within 30 minutes. The tests were administered by a doctor in a private clinic in our local Spanish town. At one level, some may argue that charging for COVID testing to travel is not unreasonable. If people choose to travel abroad during these precarious times, they should be charged accordingly, and should bear in mind the additional cost of PCR tests before booking their holidays - a "you've made your bed, now lie in it" attitude. However, rather than merely being a matter of choice that comes with additional financial burden, excessive COVID travel costs symbolize escalating inequality in the wake of the pandemic. As many private firms enjoy a COVID windfall, making huge profits on testing, the less wealthy are forced to forgo holidays abroad as travel becomes something only the rich can afford. <h2>The 'cheaper' tests are unavailable </h2>Others who took the plunge and travelled overseas this summer cite similar grievances about the cost of testing. Paula Kowalska recently returned from travelling to an "amber" country - a nation sandwiched between the "safe" green countries that require no quarantine regardless of vaccination status and the "high-risk" red countries on the UK government's travel traffic light system. Kowalska said she was shocked to find the tests she had bought less than a month ago for £35 were no longer available, replaced by ones that cost £60-£70. "The government website advises the availability of £20 tests. However, these are so limited they are never available or are available by appointment only in certain locations, with 4 or 5 slots a day only," she told me.And yet, COVID testing for travel purposes in certain countries is significantly cheaper and, in some instances, free - indicating that there are bigger issues at play. A friend of mine, who has dual Czech and British citizenship, recently travelled back to Britain from the Czech Republic. The COVID test she was required to take before leaving the Czech Republic and re-entering Britain was offered for free since she was a Czech citizen. Some nations are even using COVID tests for travel as a political tool. France offered free COVID tests for tourists. However, as of July 7, 2021, the French government decided to make tourists pay for tests, <a href="https://www.france24.com/en/live-news/20210630-covid-19-tests-will-no-longer-be-free-for-tourists-in-france-starting-july-7">stating</a> it was about "reciprocity," since French tourists are required to pay for tests abroad. When they want to, nations can and are providing free COVID testing for travellers, so what gives in the UK? <h2>Blatant profiteering </h2>To shed light on the contentious cost of COVID tests for travel, I spoke to Hussain Abdeh, director at Medicine Direct, a UK-based online pharmacy. Abdeh explained how any medical product that is sold in the UK needs to meet certain regulatory standards. "Simply put, all PCR tests that are available in the UK meet the same standards of accuracy regardless of the prices they are sold for," Abdeh said. He explained the possible origins of pricing differences, saying it could be due to different manufacturing costs or wholesale costs. But this is problematic given that, as Abdeh pointed out to me, usually we would see bigger brands like Boots and Lloyds offering the cheapest prices, due to their buying power and discounts. This, however, is not the case with PCR tests, as Boots seem to be one of the <a href="https://www.cambridge-news.co.uk/news/uk-world-news/uk-one-most-expensive-places-21301468">most expensive</a> on the UK market, currently at <a href="https://www.boots.com/covid-19-testing/covid-19-testing-service">£79</a>. "However, with that said, the UK is allowing travel from some countries that offer a free PCR testing service such as Germany and Italy. This tells me that the free PCR testing services being offered by those countries also meet the standards for PCR tests that have been implemented in the UK," Abdeh told me. The inconsistency in costs suggests an incentive of profiteering is at play. The UK's "test to travel" scheme has prompted concerns about Tory cronyism - whereby Conservative Party officials grant contracts to donors and connections so they can profit from the crisis. Some of the private firms that are milking the PCR travel test market, like the Northern Ireland-based firm Randox, have links to<a href="https://www.mirror.co.uk/news/politics/coronavirus-tests-pulled-over-safety-22368475"> members of the UK Conservative party.</a> In April, Randox<a href="https://www.randox.com/60-pounds-pcr-travel-test/"> proudly asserted</a> it was "supporting UK holidaymakers by reducing the cost of PCR tests to support travel to £60 per test" - again proving that the costs of tests don't need to be as high as they are. In November 2020, without any competition, the<a href="https://www.theguardian.com/world/2020/nov/04/tory-linked-firm-involved-in-testing-failure-awarded-new-347m-covid-contract"> UK government awarded</a> Randox, whose testing kits were recalled in the summer of 2020 because of concerns about contamination, a £347 million COVID testing contract. Despite being awarded nearly half a billion pounds in taxpayer money, Randox continues to privately charge citizens from £86 for a travel <a href="https://covid.randox.com/fully-vaccinated-amber-travel-pack/">test-at-home kit</a> consisting of a pre-departure PCR test, a day two PCR test, and a travel certificate. <h2>New rules confirm prices don't need to be so high</h2>When I reached out to the Department of Health and Social Care for commentary on the cost of COVID travel tests, they stated: "Our top priority has always been protecting the public and the robust border and testing regime we have in place is helping minimise the risk of new variants coming into the UK.We are reviewing all private providers to ensure they meet our robust standards and over 80 private travel testing companies have been issued a two-strike warning for inaccurate pricing and face removal from the gov.uk list if they do so again."On September 17, a major update on international travel rules in England <a href="https://www.ft.com/content/495b9e50-bf08-49d7-8bbf-2a5ba8cdba5d">was announced</a>. New lighter testing requirements are being introduced as the government seeks to give the struggling travel sector a boost ahead of state support coming to an end this month. The overhaul means that as of October 4, people who have had two jabs will no longer need to take a COVID test before entering England. Later in October, the day two PCR tests will be able to be replaced with cheaper lateral flow tests. For me, the scrapping of expensive test requirements and complicated travel arrangements, following months of outrage from the tourism sector and travelers, is yet more proof of the profiteering out of travel tests that has been going on for months. It's not like the changes are being made due to the virus shrinking. On the contrary, <a href="https://www.bbc.co.uk/news/health-58334835">studies show</a> that for some weeks now there has been a worrying waning of immunity as confirmed cases rise. Choosing the scrap pricey tests after the summer holiday rush, as <a href="https://www.newstatesman.com/politics/2021/09/will-there-be-a-2021-winter-lockdown-prepare-for-further-firebreaks-doctors-warn-ahead-of-knife-edge-winter-for-nhs">doctors warn</a> that the country is heading to a "knife-edge" winter for the NHS, shows that the testing was fundamentally used as a means of profit from the start.And, for families who had to forgo a holiday this year due to unfeasible additional costs, the costs are a stark exemplar at the new societal inequalities created by policy response to the pandemic.

Private companies are exploiting international travelers with outrageous COVID-19 testing costs

<ul class="summary-list"><li>A testing lab in Sydney wrongly told 400 people that they had tested negative for COVID-19.</li><li>"These people had tested positive to COVID," St. Vincent Hospital on Sunday.</li></ul>A medical laboratory in Sydney, <keyword id="11897977" type="UNKNOWN" weightage="60" keywordseo="australia" source="Orion">Australia</keyword>, falsely informed 400 people that they had tested negative for COVID-19 when they had in fact tested positive.St. Vincent's Hospital <a href="https://twitter.com/JoshBavas/status/1474949996243947520">published a statement</a> on Sunday saying its pathology service, named SydPath, released the incorrect results due to a "human error." The results came from tests carried out on December 22 and December 23, it said."SydPath last night incorrectly messaged more than 400 people, advising them they had tested negative to COVID," the lab said. "These people had tested positive to COVID.""An emergency response team is now investigating the cause of this mistake, which is believed to be human error," it added. People impacted were contacted as soon as the issue was discovered, the lab noted.In a <a href="https://www.9news.com.au/national/sydpath-covid19-testing-lab-mistakenly-told-more-than-400-positive-cases-they-were-negative/229ce3f7-d531-4878-ae04-494f3a49b10a?ocid=Social-9NewsB">statement</a>, SydPath medical director Anthony Dodds said SydPath had been working on "very large volume of tests" on December 22 and 23.A 34-year-old man who received an incorrect negative result from the lab <a href="https://www.abc.net.au/news/2021-12-26/sydpath-misdiagnosed-400-positive-covid-19-cases-as-negative/100726184">told the Australian Broadcasting Corporation</a> that he started feeling sick within days of the test. Despite being advised by his doctor to trust the result, he visited St. Vincent's Hospital for further clarification, he said."I said, 'I also trust myself, I'm unwell because every symptom I've had is COVID ... the PCR test must be wrong,'" the man told ABC, adding that he ended up testing positive to a rapid antigen test.He told ABC after St. Vincent's Sunday apology: "I think it was quite frustrating, in the sense that one, it took 85 hours firstly to get the negative test result. And then me having to call a GP and go to the hospital to try and clarify what is wrong with me."The man said he received two differing notifications from SydPath about the cause of the slip-up: One attributed it to a lab error, while the other said it was a clerical mistake.Much of the world is contending with the rapid spread of the Omicron <keyword id="11893194" type="UNKNOWN" weightage="60" keywordseo="coronavirus" source="Orion">coronavirus</keyword> variant, which has affected unvaccinated people, as well as those who were vaccinated or had received booster shots. Experts say vaccines appear to have <a href="https://www.businessinsider.com/omicron-symptoms-why-are-they-milder-vaccines-early-data-2021-12">helped produce milder symptoms and fewer hospitalizations</a> than the Delta variant.

You Searched For "covid test in private lab" and got 8 results

North Korea finally set to open a deserted beach town resort next door to a missile test site

Cameron Manley

Jharkhand caps COVID-19 test rate at private labs to ₹1,500

PTI

Rapid COVID-19 tests are worse at detecting Omicron, FDA says, citing new lab data

Marianne Guenot

Meet Justin Breen, a top lawyer at the forefront of the private-credit boom

Rebecca Ungarino

Private bankruptcy filings are blowing past their COVID-era peaks as credit stress builds for small businesses

Carla Mozée

After testing positive for COVID-19 in Jamaica, a couple paid $35,000 for a private jet home and they're not the only Americans doing it

Monica Humphries

Private companies are exploiting international travelers with outrageous COVID-19 testing costs

Gabrielle Pickard-Whitehead

A COVID-19 testing lab in Australia accidentally told 400 people they tested negative when they were actually positive

Shalini Nagarajan

Popular Keywords

Buying Guides