Why Munich?
If you ask someone what they most associate with Munich, nine times out of 10 the answer will be "Oktoberfest". It's not necessarily a bad thing, but tents, sausages and beer most definitely aren't the only reasons to visit Germany's southern capital. Instead, Oktoberfest is just another great example of what the city manages to do: weave traditional values with the commercial fabric of a large city better than almost anywhere else in the world. So while it may be true that Munich's three weeks in the spotlight begins with the ceremonial opening of the first keg every September, this city is a star all year.
A comfortable bed
As long as you're not visiting during Oktoberfest, Munich offers world-class hotels at good-value prices. The central Bayerischer Hof (www.bayerischerhof.de; 00 49 89 2120 0) is undoubtedly the city's Grand Dame, oozing mature sophistication from each of its 345 individually designed rooms (from €345 [Dh1,820] a night). It's worth a visit just to sip a juice in the fabulous rooftop cafe.
For a more trendy experience, the Hotel Vier Jahreszeiten Kempinski (www.kempinski.com/munich; 00 49 89 2125 2799) offers elegance and a fabulous location amid the fashion houses of Maximilianstrasse, a stone's throw from landmarks such as the Residenz and Nationaltheater. Double rooms start from €260 (Dh1,376).
A newer addition to the Munich hotel scene is The Louis (www.louis-hotel.com; 00 49 89 4111 9080), a boutique property overlooking the Viktualienmarkt. Nab a balcony room for one of the best morning coffee spots in the city. Rooms start from €195 (Dh1,032).
Meet the locals
Munich residents flock to the Viktualienmarkt outdoor market, crowding harried traders to sample mouth-watering speciality produce and catching up with friends over a locally sourced lunch in the hotchpotch of surrounding stuben (traditional restaurants). From there, the arty boutiques and see-and-be-seen street cafes of Reichenbachstrasse are an easy stroll away, culminating in Gärtnerplatz and the imposing Staatstheater am Gärtnerplatz, the city's second opera house and a superb evening's entertainment.
Find your feet
Munich has a small centre that provides a different adventure for every direction out of Marienplatz, the starting point for most. Beginning underneath the spires of the Neues Rathaus, walk north to the medieval Altes Rathaus and through the backstreets up to Max-Joseph-Platz, where well-heeled shoppers mingle with the tourists snapping away at the Nationaltheater.
From here, the Residenz, the former palace of the Bavarian royal family, should be easy enough to follow round to the main entrance, its lions beckoning visitors through the rust-coloured archway. Some of Munich's best museums and concert halls are here (including the Residenz Museum, the Treasury and the rococo Cuvilliés Theater), but don't get too side-tracked - the colour and symmetry of Hofgarten park are not to be missed.
Book a table
The term "Bavarian cuisine" adequately describes everything from weisswurst, a traditional breakfast snack of white sausage served with sweet mustard, to Steckerlfisch (skewered fish) for dinner, which means there is something to suit every craving at any time of day.
For those organised enough to book ahead, the best place to sample it is under the watchful eye of local boy-turned-celebrity chef Alfons Schuhbeck, whose Michelin-starred Schuhbecks in den Südtiroler Stuben (www.schuhbeck.de; 00 49 8921 6690 0) has been serving food with a Bavarian twist since 2003 (mains from around €80 [Dh423]).
A short walk from the city centre is the Englischer Garten, one of the world's largest city parks and home to several excellent restaurants. The friendly atmosphere and traditional menu (priced around €50 [Dh265] per person) makes the lakeside Seehaus (www.kuffler.de; 00 49 8938 1613 0) another special find, whether you're enjoying the view from the terrace or huddled inside the cosy Alpine interior.
Southern German food tends to be heavy on meat, so those in need of a respite can try the sophisticated vegetarian dishes at Prinz Myshkin (www.prinzmyshkin.com; 00 49 8926 5596), from around €15 (Dh79) for a main course.
Shoppers' paradise
Munich's style shines through its shop windows. The city has rightly earned a reputation as Germany's premier retail centre but still maintains a strong thread of tradition on its high street, so don't be surprised to see plenty of stores selling traditional Bavarian trachten - dirndls for girls and lederhosen for boys. If you're brave enough to try your own, Wies'n Tracht & Mehr (Tal 19) offers combination deals on the basics, while Gössl (Residenzstrasse 14) adds a touch of catwalk-inspired modernity.
A glance at the names that crowd Maximilianstrasse and Theatinerstrasse proves that Munich is nothing if not diverse. Louis Vuitton, Ralph Lauren, Gucci and Armani are just some of the big labels here, along with homegrown designers such as Escada and Bogner.
The Fünf Höfe, Munich's newest shopping mall, offers a more mainstream experience, all within the confines of an architecturally striking space underneath a "living ceiling" of plants. It's a world removed from the nearby Kaufingerstrasse, where department stores tempt shoppers with vast selections of stock and lower prices.
What to avoid
Visitors during Oktoberfest would do well to avoid the U-bahn and other transport hubs at night, when revellers cause the most trouble.
Don't miss
Munich is the home of luxury car giant BMW, which operates from the landmark "four-cylinder" BMW Tower in the north of the city. There's a fascinating museum charting the history of the brand on site, but the two-hour tour of the plant (€8 [Dh42]; Monday to Friday) is a behind-the-scenes experience you're unlikely to get elsewhere.
Company%20profile
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What She Ate: Six Remarkable Women & the Food That Tells Their Stories
Laura Shapiro
Fourth Estate
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
Financial considerations before buying a property
Buyers should try to pay as much in cash as possible for a property, limiting the mortgage value to as little as they can afford. This means they not only pay less in interest but their monthly costs are also reduced. Ideally, the monthly mortgage payment should not exceed 20 per cent of the purchaser’s total household income, says Carol Glynn, founder of Conscious Finance Coaching.
“If it’s a rental property, plan for the property to have periods when it does not have a tenant. Ensure you have enough cash set aside to pay the mortgage and other costs during these periods, ideally at least six months,” she says.
Also, shop around for the best mortgage interest rate. Understand the terms and conditions, especially what happens after any introductory periods, Ms Glynn adds.
Using a good mortgage broker is worth the investment to obtain the best rate available for a buyer’s needs and circumstances. A good mortgage broker will help the buyer understand the terms and conditions of the mortgage and make the purchasing process efficient and easier.
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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NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
Company%20profile
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Thank You for Banking with Us
Director: Laila Abbas
Starring: Yasmine Al Massri, Clara Khoury, Kamel El Basha, Ashraf Barhoum
Rating: 4/5
COMPANY%20PROFILE
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Expert input
If you had all the money in the world, what’s the one sneaker you would buy or create?
“There are a few shoes that have ‘grail’ status for me. But the one I have always wanted is the Nike x Patta x Parra Air Max 1 - Cherrywood. To get a pair in my size brand new is would cost me between Dh8,000 and Dh 10,000.” Jack Brett
“If I had all the money, I would approach Nike and ask them to do my own Air Force 1, that’s one of my dreams.” Yaseen Benchouche
“There’s nothing out there yet that I’d pay an insane amount for, but I’d love to create my own shoe with Tinker Hatfield and Jordan.” Joshua Cox
“I think I’d buy a defunct footwear brand; I’d like the challenge of reinterpreting a brand’s history and changing options.” Kris Balerite
“I’d stir up a creative collaboration with designers Martin Margiela of the mixed patchwork sneakers, and Yohji Yamamoto.” Hussain Moloobhoy
“If I had all the money in the world, I’d live somewhere where I’d never have to wear shoes again.” Raj Malhotra
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
How much sugar is in chocolate Easter eggs?
- The 169g Crunchie egg has 15.9g of sugar per 25g serving, working out at around 107g of sugar per egg
- The 190g Maltesers Teasers egg contains 58g of sugar per 100g for the egg and 19.6g of sugar in each of the two Teasers bars that come with it
- The 188g Smarties egg has 113g of sugar per egg and 22.8g in the tube of Smarties it contains
- The Milky Bar white chocolate Egg Hunt Pack contains eight eggs at 7.7g of sugar per egg
- The Cadbury Creme Egg contains 26g of sugar per 40g egg
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
Europe’s rearming plan
- Suspend strict budget rules to allow member countries to step up defence spending
- Create new "instrument" providing €150 billion of loans to member countries for defence investment
- Use the existing EU budget to direct more funds towards defence-related investment
- Engage the bloc's European Investment Bank to drop limits on lending to defence firms
- Create a savings and investments union to help companies access capital
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now