This place is quite crowded, so beware of pick pockets and make sure your bag is always in front of you. Needless to say, there are many halal restaurants in the area. If you're game for street food, here is where you can try different types of food. It's just a matter of how adventurous are you when it comes to trying new, unfamiliar food.
Walking towards Muslim Street, I could see the Drum Tower and Bell Tower.
There we a few shops selling candies along the street. You could ask if they have a sample and buy a truckload of sweets. It makes the perfect gift for friends.
I'm not sure what their feelings are about Obama. May be it's a love-hate relationship. ;-)
Like I said, when it comes to buying souvenirs, you're spoiled for choices. The question is, how much money do you have to spend. Do bring a lot of cash because the stalls don't take credit card.