The Saône River runs through Lyon, which, as well as boasting Unesco World Heritage status, is home to a wealth of similarly world-class restaurants, including many outlets run by the celebrated French chef Paul Bocuse. Philippe Desmazes / AFP
The Saône River runs through Lyon, which, as well as boasting Unesco World Heritage status, is home to a wealth of similarly world-class restaurants, including many outlets run by the celebrated French chef Paul Bocuse. Philippe Desmazes / AFP
The Saône River runs through Lyon, which, as well as boasting Unesco World Heritage status, is home to a wealth of similarly world-class restaurants, including many outlets run by the celebrated French chef Paul Bocuse. Philippe Desmazes / AFP
The Saône River runs through Lyon, which, as well as boasting Unesco World Heritage status, is home to a wealth of similarly world-class restaurants, including many outlets run by the celebrated Frenc

Lyon: France’s gourmet capital


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I’ve just taken Lyon’s cable car up to the top of Fourvière Hill, the perfect spot for a bird’s-eye view over this majestic city. The ancient funicular dates back to 1878, but has recently been renovated with gleaming new coaches, a little like the city itself, which is going through a renaissance, suddenly staking its place as one of Europe’s hot new weekend hideaways. Lyon boasts both Unesco World Heritage status and cutting-edge architecture by the likes of Renzo Piano, Jean Nouvel and Santiago Calatrava. Traditional bistros are booming, alongside a new generation of creative young chefs in elegant fine-dining restaurants.

Culture lovers can choose between Old Masters displayed at the Museum of Fine Arts and avant-garde installations that regularly transform the Museum of Contemporary Art. Throughout the year, there’s always a surprising event energising Lyon, from biennales dedicated to dance, music and art, a cinema festival, classical concerts or techno raves, culminating in the famous Fête des Lumières at the beginning of December, when four million visitors marvel at the city spectacularly lit up for four nights.

Looking down, it’s clear how Lyon has logically evolved from the grandiose Roman ruins that mark its beginnings up here on the hill, running below to the bank of the Saône River with the grand mansions of medieval Vieux Lyon, and across to the baroque splendour of the Presqu’île neighbourhood. Then the metropolis stretches from the other side of the mighty Rhône River to the modern, 20th-century business quarter of La Part-Dieu and a whole new city-of-the-future, under construction at Confluence, where the Rhône and Saône merge.

The Romans rapidly made Lugdunum the capital of one of their Gaulish provinces, and if the French had followed their famed Cartesian logic, then Lyon, not ­Paris, would still be the French capital today, perfectly positioned in the centre of France’s “hexagon”. But it is only now that La Ville des Gones – The Kids’ City, as Lyon is known – is emerging from the shadow of Paris to become France’s fashionable new ­destination.

A local guide, Jérôme Fayet-Trevy, tells me that “tourism has suddenly taken off here. Lyon is being discovered by both the French themselves and foreign visitors, and I suspect we Lyonnais are all rather perplexed by this. Tourists used to be concentrated in Vieux Lyon, the historic centre, but now they realise that this is more than a day-trip destination and that it is worth taking time to explore the whole city.”

The one thing that everyone agrees on is that Lyon is France's capital of gastronomy, and I decide to head straight off on a foodie pilgrimage to the flagship restaurant of the world-famous chef Paul Bocuse. Lyon may be the birthplace of the likes of Le Petit Prince author, Antoine de Saint-Exupéry, and the Lumière brothers, inventors of modern cinema, but the 88-year-old chef towers over ­everyone. You can book a table in one of his numerous, reasonably priced brasseries dotted all over the city, or the new gourmet restaurant of his cooking school, while all of Lyon meets for weekend shopping in the teeming food market, Les Halles Paul Bocuse (102 Cours Lafayette; www.hallespaulbocuse.lyon.fr), a cornucopia of stalls selling foie gras, oysters, truffles, cheeses and irresistible macaroons. You can even take a selfie of yourself with the great man – not in person, but in front of his mural at Place Saint-Vincent, probably the most-photographed of the 200 evocative frescoes that decorate the city.

But I can't resist the ultimate gastronomic treat: a 10-minute taxi ride for lunch in Bocuse's L'Auberge du Pont de Collonges (40 Quai de la Plage, Collonges-au-Mont-d'Or; www.bocuse.fr; 0033 4 7242 9090), which has been awarded three Michelin stars for an incredible 49 years. I can only describe the experience as travelling back in time, from the delightfully kitsch decor and impeccable old-school service to dishes that have no connection to current cuisine trends but are simply out of this world – unforgettable pike "quenelle" dumplings in a sumptuous crayfish Nantua sauce; a delicate truffle soup from a presidential recipe dating back to 1975; and a never-ending dessert trolley where the waiter persuades you to sample everything from crème brûlée and île flottante to a wicked chocolate cake.

Although Monsieur Paul, as everyone refers to him, still comes in every morning, the chef Christophe Muller oversees the day-to-day running of the kitchens, and explains that “here you will find the traditions of French gastronomy, no new fashions or fads like Adria’s molecular or Noma’s foraging. All chefs eventually return to the basics of cuisine that Monsieur Paul has always practised – the preparation of sauces. I remember when I recently cooked in Abu Dhabi and Dubai, no one could understand why we started our day preparing sauces early each morning – but that is the secret of Bocuse’s ­cuisine.”

The great majority of Lyon's attractions are found on the two opposing banks of the Saône, Vieux Lyon on one side, Presqu'île on the other, all within walking distance. Although tour groups crowd the narrow streets of the picturesque Vieux Lyon, the area has become something of a living museum, with too many tacky souvenir stores, despite its imposing Renaissance palaces and the grand Gothic cathedral. Checking out the so-called traditional Bouchon bistros, I also discover that many here are actually overpriced tourist rip-offs, apart from those displaying the official Bouchon sticker of a Guignol marionette, such as Les Lyonnais (19 Rue de la Bombarde; www.restaurant-lyonnais.com; 0033 4 7837 6482), with a menu that includes classics like a delicate chicken-liver gateau and the hearty "tablier de sapeur" (breaded beef tripe).

The secret attraction of Vieux Lyon are its unique traboules, which are medieval passages that run between streets, leading the visitor into a magical world of interior courtyards, ancient wells and fountains, stone galleries and soaring spiral staircases. Many are open to the public during the day, though visitors are expected to respect the inhabitants by keeping quiet, otherwise the traboules may one day be locked away. The one not to miss is Traboule de la Tour Rose at 22 Rue du Boeuf, which boasts a remarkable pink tower, and although many people prefer to follow a guide, a bit of simple detective work of pushing open doors can lead to some spectacular discoveries.

I cross the Saône over the pedestrian Palais de Justice bridge into the Presqu'île, the heart of Lyon, and this is where the serious sightseeing begins. Place Bellecour is Lyon's biggest square, marked by an imperious statue of Louis XIV, but the real buzzing city centre is Place des Terreaux, dominated by the grandiose baroque facade of the Town Hall. Here, you can sit out on a cafe terrace with a café au lait and croissant in front of an extravagant fountain with magnificent sculpted horses, then visit the adjacent Museum of Fine Arts, housed in a 17th-century former convent, with a collection that spans Rembrandt and Canaletto to Matisse and Picasso. Between these two grand squares runs Rue Édouard-Herriot, a shopping hub for French fashion labels such as Dior, Hermès, Cartier and Vuitton, while tucked away in side-streets are legendary bistros such as the Café des Fédérations (8 Rue Major Martin; www.lesfedeslyon.com; 0033 4 7828 2600) and Le Bouchon des Filles (20 Rue Sergent-Blandon; 0033 4 7830 4044), but also a new wave of affordable fine dining restaurants like Le Palégrié (8 Rue du Palais Grillet; www.palegrie.fr; 0033 4 7892 9484), where the young rising-star chef Guillaume Monjuré proposes a gourmet tasting menu for less than €40 (Dh197).

Foolishly deciding against hopping on the Metro, I set off from behind Place des Terreaux up the steep steps of the Montée de la Grande Côte, which leads up to the Croix-Rousse quarter. It’s quite a hike, but the views from the top are breathtaking. And the Croix-Rousse is a big contrast to the rest of this stately city: a lively, multi-ethnic neighbourhood, historically home to the workers of Lyon’s famed silk industry, today rapidly becoming a hip bohemian hangout, with vintage-clothes boutiques, retro antiques stores, funky young designers and a host of lively late-night bars and cafes. Above all, there’s the morning market, thronged with shoppers, stretching seemingly forever along Boulevard de la Croix-Rousse, with every kind of food stall imaginable. And for a change from traditional Lyonnais cuisine, the market has been invaded by France’s latest trend – food trucks – with Peshawar Express offering north Indian vegetarian curries and tandoori and Aklé cooking up halal Lebanese mezze and kofta.

In the evening, crowds gather in the leafy Place Bertone, either in the fashionable Õ Vins d’Anges, which specialises in Spanish-style tapas, or the old-fashioned Café de la Soie, which silk-workers used to frequent after clocking off. Later in the night, there’s often live music at locales such as Le Bistro Broc.

Being an unabashed chocoholic, I leave one gourmet delight until last: a visit to Bernachon (42 Cours Franklin Roosevelt; www.bernachon.com), a great French chocolatier that makes its own chocolate by choosing and roasting beans. "Because then I have my own secret recipe of different beans from around the world," explains Philippe Bernachon, a gentle giant of a man, "before even starting to be creative in the kitchen." Be warned, though: from the moment that you smell the tantalising aromas wafting out onto the street, it's easy to get totally carried away in this chocolate paradise.

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Defenders: Ahmad Al Salih, Moayad Ajan, Jehad Al Baour, Omar Midani, Amro Jenyat, Hussein Jwayed, Nadim Sabagh, Abdul Malek Anezan.
Midfielders: Mahmoud Al Mawas, Mohammed Osman, Osama Omari, Tamer Haj Mohamad, Ahmad Ashkar, Youssef Kalfa, Zaher Midani, Khaled Al Mobayed, Fahd Youssef.
Forwards: Omar Khribin, Omar Al Somah, Mardik Mardikian.

MATCH INFO

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Match on BeIN Sports

Major honours

ARSENAL

  • FA Cup - 2005

BARCELONA

  • La Liga - 2013
  • Copa del Rey - 2012
  • Fifa Club World Cup - 2011

CHELSEA

  • Premier League - 2015, 2017
  • FA Cup - 2018
  • League Cup - 2015

SPAIN

  • World Cup - 2010
  • European Championship - 2008, 2012

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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Rating: 3/5

MATCH INFO

Juventus 1 (Dybala 45')

Lazio 3 (Alberto 16', Lulic 73', Cataldi 90 4')

Red card: Rodrigo Bentancur (Juventus)

The alternatives

• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.

• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.

• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.

2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.

• PayPal is probably the best-known online goods payment method - usually used for eBay purchases -  but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.

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GOLF’S RAHMBO

- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
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UAE currency: the story behind the money in your pockets
AGL AWARDS

Golden Ball - best Emirati player: Khalfan Mubarak (Al Jazira)
Golden Ball - best foreign player: Igor Coronado (Sharjah)
Golden Glove - best goalkeeper: Adel Al Hosani (Sharjah)
Best Coach - the leader: Abdulaziz Al Anbari (Sharjah)
Fans' Player of the Year: Driss Fetouhi (Dibba)
Golden Boy - best young player: Ali Saleh (Al Wasl)
Best Fans of the Year: Sharjah
Goal of the Year: Michael Ortega (Baniyas)