At first glance, the Gran Melia Rome is a classic urban resort hotel with its beautiful swimming pool and gardens framed against the wall of Vatican City, but around a quarter of its guests are actually business executives.
This January the hotel will host about 100 guests who are participating in a conference for 500 at the Rome Cavalieri hotel on the top of the Mario Monte hill, some 15 minutes drive away by transfer coach or taxi.
Yet this is much more than just an overflow residence for Rome's premier luxury conference hotel.
Gran Melia also hosts smaller conferences in its own right with one light-filled and spacious room seating up to 80, and smaller rooms for 24 or 10 guests, often lawyers or investment bankers.
Opened in 2012, this is one of Rome’s newest five-star hotels. It was converted from an orphanage that had been abandoned for half a century.
During construction, the villa of Emperor Nero’s mother Agrippina was discovered, and work on the site was suspended for more than a decade while archaeological works progressed slowly.
Still, the long-suffering Italian family that owns the property have been rewarded with a uniquely historic location that’s also convenient for any executive visiting the centre of Rome.
The interior decor is typical Spanish minimalism from the Gran Melia’s own design studio. Think white with splashes of colour.
This April, the hotel opened two attractive new additions on the ground floor: a large blue-and-white bar, Amaro, replacing the former library; and Ossimoro, a contemporary fine dining restaurant of red velvet upholstery and white linen, serving mainly classic Italian dishes.
There is also an extensive conservatory-style series of rooms on the ground floor that serve breakfast and also function as another bar, opening on to the spacious swimming pool area on top of what was once Agrippina’s villa.
It is all light and airy, comfortable and relaxed. Combined with Gran Melia’s confident and helpful young staff, this makes for a cool glade in this often hot and hectic city.
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Read more:
7 last-minute winter travel ideas from the UAE
The recreated Icehotel in Swedish Lapland – in pictures
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Upstairs, and actually also downstairs for two floors, the 116 rooms follow the minimalist design playbook with white bathrooms, wooden floors and neutral blackout curtains. Prices start from $260 (Dh954) a night.
My desk was a bit narrow for working and the single two-pin continental plug just sufficient. The internet registered 7.5 Mbps, but signal was only really good if the door was kept open.
Oddly, the sliding bathroom door did not quite cover the entrance space so you needed to remember to close the curtains before taking a bath or shower.
The bedroom also lacked a comfortable chair or couch which left you watching TV from your bed. Room service was pricey: a club sandwich for €25; Coke €7; and Acqua Panna €6; and curiously for an Italian hotel, no pizza on the menu.
But the top suites are very much designed with the visiting executive in mind and have large terraces ideal for hosting evening parties that can be sealed off from the bedroom area with separate access to the toilet.
One has a spectacular panorama of Rome from its 360-degree terrace, while the Emperor Penthouse has a more restricted Vatican wall view, a huge bathtub on its 200 square-metre terrace, and a private fitness area.
Other facilities in this luxury boutique resort hotel include a compact gym with running, cycling and stepping machines, free weights and multi-gym equipment; and a Clarins spa with three treatment rooms.
Guests in the higher-end rooms and suites have RedLevel status that allows them access to a private lounge on the ground floor offering a limited selection of snacks and drinks from noon to nine in the evening; a work station with a Microsoft terminal and printer; and an exclusive concierge.
Company%20Profile
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COMPANY%20PROFILE
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The specs: 2018 Audi R8 V10 RWS
Price: base / as tested: From Dh632,225
Engine: 5.2-litre V10
Gearbox: Seven-speed automatic
Power: 540hp @ 8,250rpm
Torque: 540Nm @ 6,500rpm
Fuel economy, combined: 12.4L / 100km
Joker: Folie a Deux
Starring: Joaquin Phoenix, Lady Gaga, Brendan Gleeson
Director: Todd Phillips
Rating: 2/5
UAE currency: the story behind the money in your pockets
SPECS%3A%20Polestar%203
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Company profile
Name: Steppi
Founders: Joe Franklin and Milos Savic
Launched: February 2020
Size: 10,000 users by the end of July and a goal of 200,000 users by the end of the year
Employees: Five
Based: Jumeirah Lakes Towers, Dubai
Financing stage: Two seed rounds – the first sourced from angel investors and the founders' personal savings
Second round raised Dh720,000 from silent investors in June this year
Four reasons global stock markets are falling right now
There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest:
1. Rising US interest rates
The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year.
Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. “With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs.”
At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end.
2. Stronger dollar
High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. “Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets.”
3. Global trade war
Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trump’s spat with China will escalate into a full-blown global trade war, with both sides suffering. “The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock picker’s market.”
4. Eurozone uncertainty
Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy.
Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line.”
The European economy may also be slowing, Mr Beauchamp warns. “A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.”
What is the FNC?
The Federal National Council is one of five federal authorities established by the UAE constitution. It held its first session on December 2, 1972, a year to the day after Federation.
It has 40 members, eight of whom are women. The members represent the UAE population through each of the emirates. Abu Dhabi and Dubai have eight members each, Sharjah and Ras al Khaimah six, and Ajman, Fujairah and Umm Al Quwain have four.
They bring Emirati issues to the council for debate and put those concerns to ministers summoned for questioning.
The FNC’s main functions include passing, amending or rejecting federal draft laws, discussing international treaties and agreements, and offering recommendations on general subjects raised during sessions.
Federal draft laws must first pass through the FNC for recommendations when members can amend the laws to suit the needs of citizens. The draft laws are then forwarded to the Cabinet for consideration and approval.
Since 2006, half of the members have been elected by UAE citizens to serve four-year terms and the other half are appointed by the Ruler’s Courts of the seven emirates.
In the 2015 elections, 78 of the 252 candidates were women. Women also represented 48 per cent of all voters and 67 per cent of the voters were under the age of 40.
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
MATCH INFO
Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid
When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid
The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
Guns N’ Roses’s last gig before Abu Dhabi was in Hong Kong on November 21. We were there – and here’s what they played, and in what order. You were warned.
- It’s So Easy
- Mr Brownstone
- Chinese Democracy
- Welcome to the Jungle
- Double Talkin’ Jive
- Better
- Estranged
- Live and Let Die (Wings cover)
- Slither (Velvet Revolver cover)
- Rocket Queen
- You Could Be Mine
- Shadow of Your Love
- Attitude (Misfits cover)
- Civil War
- Coma
- Love Theme from The Godfather (movie cover)
- Sweet Child O’ Mine
- Wichita Lineman (Jimmy Webb cover)
- Wish You Were Here (instrumental Pink Floyd cover)
- November Rain
- Black Hole Sun (Soundgarden cover)
- Knockin’ on Heaven’s Door (Bob Dylan cover)
- Nightrain
Encore:
- Patience
- Don’t Cry
- The Seeker (The Who cover)
- Paradise City
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Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
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.
Company%20Profile
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COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
The specs: 2018 Maserati GranTurismo/GranCabrio
Price, base Dh485,000 (GranTurismo) and Dh575,000 (GranCabrio)
Engine 4.7L V8
Transmission Six-speed automatic
Power 460hp @ 7,000rpm
Torque 520Nm @ 4,750rpm
Fuel economy, combined 14.3L (GranTurismo) and 14.5L (GranCabrio) / 100km
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding