Why Ålesund?
Ålesund, on Norway’s wild west coast, is unusual. When the little fishing village burnt to the ground in 1904, it was rebuilt in three years, entirely in art nouveau style. It has risen from the ashes: 850 homes were destroyed and 10,000 people were left homeless; the tale of this town is one of revival and restoration.
The port town sits beside forest-clad hills which rush down into dramatic seas; medieval spires and turrets sit atop mural-adorned buildings; unique architecture lines the narrow cobbled streets; and a winding canal runs through the town centre. It’s worth spending a day or two in this portal to the Norwegian fjords, taking in the nature and slow pace of life.
A comfortable bed
Originally a fishing warehouse, Hotel Brosundet (www.brosundet.no; 0047 7011 4500), on the banks of the Ålesund canal, is an intimate 47-room boutique property, tastefully converted to art nouveau style. Old-world charm is a strong element in the hotel's unique decor – the rooms still feature pine and oak beams and arched windows. One wall of the hotel dips straight into the canal, and it's not uncommon to see fishing boats with fresh catches sail by. The lobby, featuring dockside timber and aluminium, is a lovely spot to get a cup of tea and listen to the sound of gulls. To get to room 47, you need to step out of the main building, walk five minutes to the end of the jetty, then climb a flight of stairs. The 150-year old Molja Lighthouse is perhaps one of the world's most iconic hotel rooms. The rustic circular bedroom measures three metres across and looks out onto ships gliding across the Atlantic. Double rooms cost from 1,530 Norwegian kroner (Dh726).
The 197-room Scandic Parken Hotel (www.scandichotels.com; 0047 7013 2300) is ideally poised to take in Ålesund's sights. It's a stone's throw from the waterside and town centre, with charming views of spired rooftops and cobbled side streets.
Find your feet
A walk through the compact town centre is an ideal starting point to absorb Ålesund's history and architecture. Pastel-coloured buildings border the reflective waters of the Ålesundet canal. In summer, bright yellow kayaks float downstream. The town is still deeply connected to its roots in the fishing industry: sculptures of fishermen line the streets; the walls of banks and office buildings are covered in murals depicting the town's fishing history. The Jugendstilsenteret (www.jugendstilsenteret.no; 75 kroner [Dh36]) – a former apothecary, now the town's Art Nouveau Centre – is a perfect stop to learn about Ålesund's reconstruction.
Meet the locals
To say Norwegians are outdoorsy would be an understatement. Ålesund’s walks and hikes are lovely. In the midst of nature is where you’ll get to meet and mingle with the friendly locals. From the town park, climb 418 steps to Mount Aksla, or drive up if you aren’t in the mood for a schlep. From the Fjellstua viewpoint, a panoramic sight greets you: the stunning Sunnmøre Alps loom in the distance, Ålesund’s canal slices through the town’s candy-coloured buildings and the sea swirls all around. The mountainside is covered in rough-hewn rocks, fat purple flowers and overgrown gardens; perfect for a leisurely stroll.
Book a table
In Ålesund, seafood is the way to go. Fresh-from-the-water salmon, cod and herring are your best bets. Klipfish – a dried, salted cod – is Ålesund's most popular export. XL Diner (www.xldiner.no; 0047 7012 4253) is a charming restaurant overlooking the harbour that's known for its fish specialities. You can dig into traditional Norwegian recipes as well as innovative turns on standard fish dishes. The Spanish Bacalao casserole is an interesting variety of fiery red stew of dried cod or klipfish, tomatoes, peppers and onion. A meal for two costs about 700 kroner (Dh332)
With its unique artwork and mood lighting, Brasserie Normandie at the Scandic Parken is perfect for a romantic dinner in a chic setting. The restaurant has a good selection of meats – veal, lamb, deer and beef. The fillet of veal features tender meat with pan-fried vegetables and mushrooms in blue cheese on the side. The herb-crusted rack of lamb is another menu favourite; it comes with fat forest mushrooms and a lingonberry jelly. A meal for two costs 800 kroner (Dh380).
Shopper’s paradise
Artifex Kunst & Antikviteter (www.artifex.no) sells antique collectables and artwork by local and international artists. The store houses a gallery with a focus on contemporary art, plus a cafe.
For unique souvenirs, step into Ingrids Glassverksted (www.ingridsglassverksted.no) – a glass-blowing studio with a gallery. For something truly Norwegian, check out the quirky, colourful glass fish.
What to avoid
Give winter a skip and plan a summer holiday, when you can really enjoy the water activity and outdoor walks.
Don’t miss
Cruise through Norway’s stunning Geirangerfjord on an open-top sightseeing boat. Cruises cost 205 kroner (Dh97) per person.
Go there
Return flights with Emirates (www.emirates.com) from Dubai to Oslo cost from Dh3,465, including taxes, and take seven hours. From Oslo, flights to Ålesund take one hour; a return ticket costs from Dh468 on SAS (www.flysas.com).
The bio
Favourite food: Japanese
Favourite car: Lamborghini
Favourite hobby: Football
Favourite quote: If your dreams don’t scare you, they are not big enough
Favourite country: UAE
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Director: Rajesh A Krishnan
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Traits of Chinese zodiac animals
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Five famous companies founded by teens
There are numerous success stories of teen businesses that were created in college dorm rooms and other modest circumstances. Below are some of the most recognisable names in the industry:
- Facebook: Mark Zuckerberg and his friends started Facebook when he was a 19-year-old Harvard undergraduate.
- Dell: When Michael Dell was an undergraduate student at Texas University in 1984, he started upgrading computers for profit. He starting working full-time on his business when he was 19. Eventually, his company became the Dell Computer Corporation and then Dell Inc.
- Subway: Fred DeLuca opened the first Subway restaurant when he was 17. In 1965, Mr DeLuca needed extra money for college, so he decided to open his own business. Peter Buck, a family friend, lent him $1,000 and together, they opened Pete’s Super Submarines. A few years later, the company was rebranded and called Subway.
- Mashable: In 2005, Pete Cashmore created Mashable in Scotland when he was a teenager. The site was then a technology blog. Over the next few decades, Mr Cashmore has turned Mashable into a global media company.
- Oculus VR: Palmer Luckey founded Oculus VR in June 2012, when he was 19. In August that year, Oculus launched its Kickstarter campaign and raised more than $1 million in three days. Facebook bought Oculus for $2 billion two years later.
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The five pillars of Islam
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Top 10 most competitive economies
1. Singapore
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3. Denmark
4. Ireland
5. Hong Kong
6. Sweden
7. UAE
8. Taiwan
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10. Norway
Scores
New Zealand 266 for 9 in 50 overs
Pakistan 219 all out in 47.2 overs
New Zealand win by 47 runs
Company Profile
Name: Direct Debit System
Started: Sept 2017
Based: UAE with a subsidiary in the UK
Industry: FinTech
Funding: Undisclosed
Investors: Elaine Jones
Number of employees: 8
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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.”
If you go
There are regular flights from Dubai to Kathmandu. Fares with Air Arabia and flydubai start at Dh1,265.
In Kathmandu, rooms at the Oasis Kathmandu Hotel start at Dh195 and Dh120 at Hotel Ganesh Himal.
Third Rock Adventures offers professionally run group and individual treks and tours using highly experienced guides throughout Nepal, Bhutan and other parts of the Himalayas.
The low down on MPS
What is myofascial pain syndrome?
Myofascial pain syndrome refers to pain and inflammation in the body’s soft tissue. MPS is a chronic condition that affects the fascia (connective tissue that covers the muscles, which develops knots, also known as trigger points).
What are trigger points?
Trigger points are irritable knots in the soft tissue that covers muscle tissue. Through injury or overuse, muscle fibres contract as a reactive and protective measure, creating tension in the form of hard and, palpable nodules. Overuse and sustained posture are the main culprits in developing trigger points.
What is myofascial or trigger-point release?
Releasing these nodules requires a hands-on technique that involves applying gentle sustained pressure to release muscular shortness and tightness. This eliminates restrictions in connective tissue in orderto restore motion and alleviate pain. Therapy balls have proven effective at causing enough commotion in the tissue, prompting the release of these hard knots.
UAE currency: the story behind the money in your pockets
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
