Frankfurt Book Fair is the largest of its kind in the world. Frank Rumpenhost / EPA
Frankfurt Book Fair is the largest of its kind in the world. Frank Rumpenhost / EPA

In Frankfurt it is business - as usual



If you find yourself in Frankfurt for work, you will not be alone - there is a whole lot of business going on.

The city is the financial centre of continental Europe and, given it serves one of the world's biggest economies, it is not surprising that Frankfurt is listed as one of 10 Alpha world cities.

While Frankfurt am Main is the city's official name - from its position on the River Main - it does have others. With more than 40 towers, the fourth-largest stock exchange in the world and 400 banking institutions, including the European Central Bank - home of the euro and all things monetary -it is also answers to "Bankfurt" and "Mainhattan".

And as host to some of the largest trade fairs in the world, including the Frankfurt Book Fair, it is no wonder most people who visit are on business.

Culture? Carousing? Fine dining? History? The city can serve you up world-class fare on all those fronts.

The Staedelsche Kunstinstitute Und Staedtische Galerie, locally known simpy as "Städel", has under its blend of 18th century and glass-and-steel architecture an exemplary collection of European painting from the 14th to the 20th centuries.

It also features a very fine restaurant, called Holbein, in the atrium, which is so excellent it is better to book. It is on the picturesque Museumsufer.

For those who like live music, there is the Jazzkeller, in a basement in the heart of the city on the Kleine Bockenheimer Strasse. It is a world-class gig, and has hosted nearly every big jazz name since it opened in 1952. Night owls only, as it stays open until 3am.

Or, for a laugh, you could try Die Schmiere on Seckbacher Gasse, which advertises itself as "the worst theatre in the world". Its shows are "experimental", which means anything from no-dialogue dramas to dance.

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THE SPECS

Engine: 6.75-litre twin-turbocharged V12 petrol engine 

Power: 420kW

Torque: 780Nm

Transmission: 8-speed automatic

Price: From Dh1,350,000

On sale: Available for preorder now

Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
The Bio

Favourite vegetable: “I really like the taste of the beetroot, the potatoes and the eggplant we are producing.”

Holiday destination: “I like Paris very much, it’s a city very close to my heart.”

Book: “Das Kapital, by Karl Marx. I am not a communist, but there are a lot of lessons for the capitalist system, if you let it get out of control, and humanity.”

Musician: “I like very much Fairuz, the Lebanese singer, and the other is Umm Kulthum. Fairuz is for listening to in the morning, Umm Kulthum for the night.”

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Company: Instabug

Founded: 2013

Based: Egypt, Cairo

Sector: IT

Employees: 100

Stage: Series A

Investors: Flat6Labs, Accel, Y Combinator and angel investors

Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.