Thumbay Group ranks among ‘Top 50 private companies in the UAE’
Dubai, Dec 31: Thumbay Group, the Dubai-based global conglomerate with diversified businesses, has been ranked in the list of ‘Top 50 private companies in the UAE’ published by Forbes Middle East.
The list was compiled on the basis of the number of employees in the company, the number of countries they operate in, the type of businesses as well as the number of sectors they operate in and the age of the company.
The list is a part of Forbes Middle East’s first ‘UAE 100 ranking’, recognizing companies that have played a key role in making the country the thriving business center that it is today. Thumbay Group ranks 29 in the list.
Dr. Thumbay Moideen, Founder President of Thumbay Group, said that the top ranking achieved by the company was recognition of its sustainable growth and diversification. “This recognition comes at a time when Thumbay Group has embarked on a new phase of growth and global expansion, aiming to increase the size of our businesses at least 10 times, strengthening our global presence, and expanding the employee strength to 25,000, by 2023, according to our strategic plans," Dr Thumbay Moideen said.
He further informed, "2018 also marked the 20th year of Thumbay Group’s success, growing from a single company to a diversified international conglomerate with business activities across 20 sectors.”
Established by Dr. Thumbay Moideen in 1998, today Thumbay Group is a diversified international business conglomerate headquartered in Dubai, with presence across 20 sectors of business including Education, Healthcare, Medical Research, Diagnostics, Retail Pharmacy, Health Communications, Retail Opticals, Wellness, Nutrition Stores, Hospitality, Real Estate, Publishing, Technology, Media, Events, Medical Tourism, Trading and Marketing & Distribution.
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Karnataka approves AI Centre of Excellence in Bengaluru's Electronics City
Bengaluru (PTI): The Karnataka government has approved the establishment of a CoE for AI in Biotechnology at IBAB in Electronics City (Phase 1), here.
The decision, taken by the state Cabinet on Thursday night, marks a significant step towards strengthening Karnataka’s leadership in emerging technologies, IT and biotechnology, Karnataka Minister Priyank Kharge said on Friday.
The centre will be established over four years with a total outlay of Rs 20 crore, in partnership with the Institute of Bioinformatics and Applied Biotechnology and the Centre for Cellular and Molecular Platforms (C-CAMP), according to a statement from the minister’s office.
"Karnataka has consistently been at the forefront of technological innovation. As we enter the decade of deep tech, our focus is on building future-ready capabilities at the intersection of artificial intelligence and biotechnology," Minister for IT and Biotechnology said.
"This Centre of Excellence will strengthen our research ecosystem, accelerate innovation and enable Karnataka to lead in high-impact next-generation technologies," he added.
Priyank added that the state government, through the Departments of Electronics, IT, Biotechnology, and Science & Technology, is actively investing in emerging technologies and taking steps to strengthen Karnataka’s AI and deep-tech ecosystem.
The minister said the Cabinet has also approved the transfer of a 51 per cent stake in the Karnataka Technology & Innovation Museum Foundation (KTIMF) to the Unboxing BLR Foundation.
KTIMF was established by the Government of Karnataka as a not-for-profit organisation to promote innovation, technological awareness, startup culture and public engagement in science and technology, aligned with the state’s vision of building a robust innovation ecosystem, he said.
The Technology & Innovation Museum will be developed at the NGEF campus in Baiyappanahalli, Bengaluru, under a Public-Private Partnership (PPP) model, with a total project cost of Rs 100 crore. Of this, Rs 49 crore will be contributed by the state government and Rs 51 crore by the private partner, he said.
