Bologna is the flourishing capital of rich farming region Emilia Romana, with the oldest university in Europe, founded in 1088. Bologna is strategically placed at a junction for all the roads across the Alps, from Simplon to Trieste, to the Apennine Mountains and to Tuscany, as well as to the east coast to Brindisi and Taranto. Therefore, trade has thrived here from as far back as the time of the Roman Empire. Bologna has elegant arcades in the old parts of the city. It has beautiful buildings and cultural treasures; Palazzo Comunale, the Basilica of San Petronio from the 14th century by Piazza Maggiore and Fontana del Nettuno. Bologna is also known as "la grassa" (the fat one) in relation to the city's culinary traditions. Another commonly used nickname is "la rossa" (the red one) which is allegedly referring to the colour of the façades. Gay friendly Bologna is surrounded by old walls and graves that form an irregular hexagon with narrow and winding streets.