As the rain begins to fall hard outside the small grimy restaurant located down a small side alley in Hanoi's Old Quarter, elderly women selling cheap plastic coats hit the streets, hoping to benefit from those tourists with only a day or two to see the delights of the Vietnamese capital and who are therefore in a hurry to keep moving.
The rest of us, mostly residents and a few relaxed visitors, simply smile knowingly at one another, order another iced coffee and wait out the obligatory 30 minutes or so that the daily afternoon showers last in Hanoi, before returning to the now-glistening streets and beautiful architecture of one of the most atmospheric capitals in Asia.
Hanoi may have been the on-again, off-again capital of Vietnam since 1010 AD, but much of its visible appeal arises from the 50 years it was the capital of French Indochina in the first half of the 20th century and the blending of cultures that occurred at that time.
The French may have left a bitter legacy of heavy-handed governance and an unwillingness to see the end of their colonial rule without bloodshed, but in cultural terms the French gifted the country - especially Hanoi - with striking churches and cathedrals, a vibrant cafe scene and many of the buildings that to this day form the city's Old Quarter - a warren of 36 alleyways that is the heart of Hanoi life and has been since the 13th century. Some of the older buildings remain as they were, including some exquisite guildhalls and temples, but many others were either replaced by French-style buildings or have been strongly influenced in subsequent renovations. Despite this, the layout of the old streets remains. The old quarter also boasts the city's largest market, the temples and major sites that draw in the tourists, and is where the seeds of the communist takeover took root in the guilds and education institutes where new ideas sprouted.
Once humming with the trades the streets are named after - Blacksmith Street (Lo Ren), Incense Street (Hang Huong), Pickled Fish Street (Hang Mam) and Coffin Street (Lo Su) to name but a few, the cramped winding alleyways are where residents and tourists alike stroll around in the evening, relax with friends and dine on fresh Vietnamese food, all among streets towered over by the peeling paint of the pillars and window frames of French villas.
I had spent a year living in Ho Chi Minh City, Hanoi's southern neighbour, early in the last decade and ever since have regularly engaged in inane but heated debates over which of the two cities is better. While Ho Chi Minh would edge it on vibrancy and development, my Hanoi friends would always pull out their ace - the glorious Old Quarter - to seal their argument.
Arriving by bus from the Chinese border for what would be a four-day stay, the crowded and tightly packed streets of outer Hanoi are abuzz as I enter the city in the early afternoon sun, reminding me of what I used to love about the country, while the roads themselves swarm with motorbikes and scooters that were - and still are - a ubiquitous feature of most Vietnamese cities. Crossing roads in Hanoi is a form of art and more than once I tense up as a motorbike passes just inches in front of me.
Part of Hanoi's charm is in this sense of disorder, and in the pockets of calm you stumble across all over the capital, where the sound of traffic is just a distant murmur. Walking down Hang Bac (Silversmith Street) in the centre of the Old Quarter on my first day, I detour down many of these out-of-the-way lanes, where curious locals glance up as I step around the piles of vegetables strewn in front of them that they are peeling for nearby restaurants. Others smile and take a drag of their cigarettes, waiting patiently for the foreigner to go by.
"Bananas, want bananas?" asks one old lady, heavily laden with fruit hanging in baskets attached to poles around her shoulders. "Lacquer bowls, lacquer bowls," "T-shirts," "authentic Vietnamese food", go other nearby shouts.
Waking up in the morning on my first full day back in the city, I start to remember the subtle tweaks on French imports that enhance Hanoi life. In the square around the striking neo-Gothic St Joseph's Cathedral, first opened for worship in the 1880s, swanky urbanites sit out under the sun, drinking coffee and chain-smoking. Only, rather than fancy Parisian brands, they are smoking cheap Vietnamese cigarettes and drinking thick but delicious Vietnamese iced coffees that remain black even after the inclusion of milk.
Vietnamese breakfasts are simple affairs, generally comprising a French baguette stuffed with an omelette and meat, bought from old women on the streets for less than a dollar. Evening meals are the main social time and the restaurants and bars around Hang Bac street are filled with loud voices and hungry customers. I fill my time between eating and coffee with endless walking.
The buildings of the Old Quarter are often camouflaged with workaday ground floors so it occasionally comes as a shock when my eyes rise from the knockoff T-shirt stores to the two- or three-storey buildings towering above me. The elegant facades, with wooden shutters, elaborate wrought iron and balconies often overflowing with plants, seem to hark back to colonial times.
On the south-east side of Hoan Kiem Lake, the beautifully preserved opera house and renovated Hotel Metropole epitomise this time of foreign rule when Hanoi was the Paris of Vietnam and a playground for colonists rich in the rice, rubber and opium trades.
While the colonial-era buildings, with their overhanging bay windows and high, sloping roofs, are a key part of the character of the area, the ornate Vietnamese tube houses, which seem like they have been squashed in a vice (the legacy of a taxation policy that focused on the width of property fronts and led to the thin but deep building style) are equally important to Hanoi's Old Quarter. On Ma May and neighbouring streets, it's possible to visit some of the larger wooden structures, which, despite their deceptively small entrances, extend several rooms backwards and would have been the homes and places of work for generations of Vietnamese traders, artisans and businessmen.
In the Old Quarter, the pace of the city quickens as the day goes on, and relaxing afternoons turn into lively evenings as restaurants explode into the streets, with large woks of fried rice and small plastic tables and chairs jammed full of hungry or thirsty residents and foreigners. Small stalls appear at the corner of Ta Hien and Luong Ngoc Quyen, where people cluster around for drinks,enjoying themselves in an alfresco way that I am sure the French would still approve.
Days pass and, as I get ready to hop on a bus to leave the city, I remember what a friend of mine who had lived in the city once told me - that after moving away from Hanoi he wrote a lot less poetry; the city just sort of forced him to write. I had been too busy relaxing to write, but I could certainly understand his nostalgia for the place.
If You Go
The flight Return flights with Emirates (www.emirates.com) from Dubai to Hanoi via Bangkok or Singapore cost from Dh9,200, including taxes
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Abu Dhabi Card
5pm: Maiden (PA) Dh 80,000 1,400m
National selection: AF Mohanak
5.30pm: Handicap (PA) Dh 90,000 1,400m
National selection: Jayide Al Boraq
6pm: Handicap (TB) Dh 100,000 1,400m
National selection: Rocket Power
6.30pm: Abu Dhabi Championship Listed (PA) Dh 180,000 1,600m
National selection: Ihtesham
7pm: Wathba Stallions Cup Handicap (PA) Dh 70,000 1,600m
National selection: Noof KB
7.30pm: Maiden (PA) Dh 80,000 2.200m
National selection: EL Faust
The specs: 2018 Jeep Grand Cherokee Trackhawk
Price, base: Dh399,999
Engine: Supercharged 6.2-litre V8
Gearbox: Eight-speed automatic
Power: 707hp @ 6,000rpm
Torque: 875Nm @ 4,800rpm
Fuel economy, combined: 16.8L / 100km (estimate)
The specs: 2018 Peugeot 5008
Price, base / as tested: Dh99,900 / Dh134,900
Engine: 1.6-litre turbocharged four-cylinder
Transmission: Six-speed automatic
Power: 165hp @ 6,000rpm
Torque: 240Nm @ 1,400rpm
Fuel economy, combined: 5.8L / 100km
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
The specs
Engine: 3.0-litre six-cylinder MHEV
Power: 360bhp
Torque: 500Nm
Transmission: eight-speed automatic
Price: from Dh282,870
On sale: now
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
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T20 World Cup Qualifier
Final: Netherlands beat PNG by seven wickets
Qualified teams
1. Netherlands
2. PNG
3. Ireland
4. Namibia
5. Scotland
6. Oman
T20 World Cup 2020, Australia
Group A: Sri Lanka, PNG, Ireland, Oman
Group B: Bangladesh, Netherlands, Namibia, Scotland
Who was Alfred Nobel?
The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.
- In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
- Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
- Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
UAE currency: the story behind the money in your pockets
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The specs: 2017 Maserati Quattroporte
Price, base / as tested Dh389,000 / Dh559,000
Engine 3.0L twin-turbo V8
Transmission Eight-speed automatic
Power 530hp @ 6,800rpm
Torque 650Nm @ 2,000 rpm
Fuel economy, combined 10.7L / 100km
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.”
One in nine do not have enough to eat
Created in 1961, the World Food Programme is pledged to fight hunger worldwide as well as providing emergency food assistance in a crisis.
One of the organisation’s goals is the Zero Hunger Pledge, adopted by the international community in 2015 as one of the 17 Sustainable Goals for Sustainable Development, to end world hunger by 2030.
The WFP, a branch of the United Nations, is funded by voluntary donations from governments, businesses and private donations.
Almost two thirds of its operations currently take place in conflict zones, where it is calculated that people are more than three times likely to suffer from malnutrition than in peaceful countries.
It is currently estimated that one in nine people globally do not have enough to eat.
On any one day, the WFP estimates that it has 5,000 lorries, 20 ships and 70 aircraft on the move.
Outside emergencies, the WFP provides school meals to up to 25 million children in 63 countries, while working with communities to improve nutrition. Where possible, it buys supplies from developing countries to cut down transport cost and boost local economies.
New process leads to panic among jobseekers
As a UAE-based travel agent who processes tourist visas from the Philippines, Jennifer Pacia Gado is fielding a lot of calls from concerned travellers just now. And they are all asking the same question.
“My clients are mostly Filipinos, and they [all want to know] about good conduct certificates,” says the 34-year-old Filipina, who has lived in the UAE for five years.
Ms Gado contacted the Philippines Embassy to get more information on the certificate so she can share it with her clients. She says many are worried about the process and associated costs – which could be as high as Dh500 to obtain and attest a good conduct certificate from the Philippines for jobseekers already living in the UAE.
“They are worried about this because when they arrive here without the NBI [National Bureau of Investigation] clearance, it is a hassle because it takes time,” she says.
“They need to go first to the embassy to apply for the application of the NBI clearance. After that they have go to the police station [in the UAE] for the fingerprints. And then they will apply for the special power of attorney so that someone can finish the process in the Philippines. So it is a long process and more expensive if you are doing it from here.”