One year ago, Fawaz Bello was confined to his small apartment in Naif as authorities carried out a mass Covid-19 testing and cleaning drive in one of Dubai's oldest districts.
The densely populated area was put under a strict four-week-long lockdown from March 31 to April 26 to curb the spread of the virus.
Today, almost a year after since the 24-hour movement restrictions were lifted, Mr Bello can reflect on the challenges faced by the neighbourhood and look forward to better times.
Mr Bello, 37, was among thousands who were affected by the lockdown in Naif and the adjacent Al Ras.
“Last year, it was very tough,” said Mr Bello, from Nigeria.
“We couldn’t go out but for good reasons so authorities could sanitise the area and test everyone.”
The National visited Naif to see how businesses and residents were faring.
Life is getting back to normal
Before the pandemic struck, tourists flocked to the neighbourhood for a flavour of old Dubai and to haggle for a bargain in the many shops which provide its unique character.
In the Covid-19 age, as with much of the rest of the world, the scene is more muted with the narrow streets of Naif now populated mostly by its residents.
“There are a lot of businesses here that have closed down and there aren’t as many tourists as there used to be,” said Mr Bello, who lives and works in the area, earning Dh3,000 per month at a logistics firm.
“But the situation is still better now as compared to how it was one year ago when the lockdown was in place.
“Back then, I had to use my savings to send my family back home money because I wasn’t being paid on time. I spent a lot of time reading the Quran because it was also Ramadan during the lockdown, which was one of the good things for me.
“Now, I feel like life is 60 per cent back to normal for me. I am able to go out and move around freely. We are much safer here as compared to some other parts of the world during these tough times.”
Some business owners who spoke to The National said the return of more tourists in the area would help boost sales, while others that have been in the district for decades said they were "comfortable in the current situation".
Shop owner thankful for loyal customers
Amanullah Khan runs a small shoe repairing shop that has been operating in Dubai since 1971.
His father moved from Pakistan to the UAE decades ago to start the business, which Mr Khan said was thriving before the Coronavirus outbreak, but is still “doing well” at the moment.
“Last year, there was obviously no business. Everything was closed,” he said.
“But, now, things are slowly starting to get better. Our business has a good reputation and we have a lot of loyal customers who live in the neighbourhood.”
Mohammed Akram, 47, owns a small boat, which he uses to offer customers a sightseeing trip.
“I bought this boat four months before the virus hit,” he said. “Then, when we heard the lockdown was about to happen, I was able to get a flight back to Pakistan just a day before everything closed.”
Mr Akram said he earned Dh9,000 in the first four months of business, but business has slowed of late.
Traders optimistic for future
Moidu Parlot, 58, opened his shop in Naif only four months ago, but has lived there for several years and currently shares a one-bedroom apartment with seven people.
“I was working as a warehouse manager before, but was fired after the virus started. I was in India when the lockdown here happened,” he said.
“I opened this shop a few months ago. Business will be better when tourists start coming again, but, for now, we have to hope a lot of residents here would help increase our sales.”
Across the road from streets packed with hundreds of shops, there is a waterway where large dhow and small abra owners operate their businesses.
While some dhow owners are doing well after introducing attractive deals on dinner cruises, others, including small boat operators, are waiting for business to pick up.
Life in lockdown in Naif and Al Ras in 2020:
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The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
MATCH INFO
Norwich City 0 Southampton 3 (Ings 49', Armstrong 54', Redmond 79')
What should do investors do now?
What does the S&P 500's new all-time high mean for the average investor?
Should I be euphoric?
No. It's fine to be pleased about hearty returns on your investments. But it's not a good idea to tie your emotions closely to the ups and downs of the stock market. You'll get tired fast. This market moment comes on the heels of last year's nosedive. And it's not the first or last time the stock market will make a dramatic move.
So what happened?
It's more about what happened last year. Many of the concerns that triggered that plunge towards the end of last have largely been quelled. The US and China are slowly moving toward a trade agreement. The Federal Reserve has indicated it likely will not raise rates at all in 2019 after seven recent increases. And those changes, along with some strong earnings reports and broader healthy economic indicators, have fueled some optimism in stock markets.
"The panic in the fourth quarter was based mostly on fears," says Brent Schutte, chief investment strategist for Northwestern Mutual Wealth Management Company. "The fundamentals have mostly held up, while the fears have gone away and the fears were based mostly on emotion."
Should I buy? Should I sell?
Maybe. It depends on what your long-term investment plan is. The best advice is usually the same no matter the day — determine your financial goals, make a plan to reach them and stick to it.
"I would encourage (investors) not to overreact to highs, just as I would encourage them not to overreact to the lows of December," Mr Schutte says.
All the same, there are some situations in which you should consider taking action. If you think you can't live through another low like last year, the time to get out is now. If the balance of assets in your portfolio is out of whack thanks to the rise of the stock market, make adjustments. And if you need your money in the next five to 10 years, it shouldn't be in stocks anyhow. But for most people, it's also a good time to just leave things be.
Resist the urge to abandon the diversification of your portfolio, Mr Schutte cautions. It may be tempting to shed other investments that aren't performing as well, such as some international stocks, but diversification is designed to help steady your performance over time.
Will the rally last?
No one knows for sure. But David Bailin, chief investment officer at Citi Private Bank, expects the US market could move up 5 per cent to 7 per cent more over the next nine to 12 months, provided the Fed doesn't raise rates and earnings growth exceeds current expectations. We are in a late cycle market, a period when US equities have historically done very well, but volatility also rises, he says.
"This phase can last six months to several years, but it's important clients remain invested and not try to prematurely position for a contraction of the market," Mr Bailin says. "Doing so would risk missing out on important portfolio returns."
Know before you go
- Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
- If you’re driving, make sure your insurance covers Oman.
- By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
- Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
- Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.
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5pm: Wadi Nagab – Maiden (PA) Dh80,000 (Turf) 1,200m; Winner: Al Falaq, Antonio Fresu (jockey), Ahmed Al Shemaili (trainer)
5.30pm: Wadi Sidr – Handicap (PA) Dh80,000 (T) 1,200m; Winner: AF Majalis, Tadhg O’Shea, Ernst Oertel
6pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (T) 2,200m; Winner: AF Fakhama, Fernando Jara, Mohamed Daggash
6.30pm: Wadi Shees – Handicap (PA) Dh80,000 (T) 2,200m; Winner: Mutaqadim, Antonio Fresu, Ibrahim Al Hadhrami
7pm: Arabian Triple Crown Round-1 – Listed (PA) Dh230,000 (T) 1,600m; Winner: Bahar Muscat, Antonio Fresu, Ibrahim Al Hadhrami
7.30pm: Wadi Tayyibah – Maiden (TB) Dh80,000 (T) 1,600m; Winner: Poster Paint, Patrick Cosgrave, Bhupat Seemar
One in four Americans don't plan to retire
Nearly a quarter of Americans say they never plan to retire, according to a poll that suggests a disconnection between individuals' retirement plans and the realities of ageing in the workforce.
Experts say illness, injury, layoffs and caregiving responsibilities often force older workers to leave their jobs sooner than they'd like.
According to the poll from The Associated Press-NORC Centre for Public Affairs Research, 23 per cent of workers, including nearly two in 10 of those over 50, don't expect to stop working. Roughly another quarter of Americans say they will continue working beyond their 65th birthday.
According to government data, about one in five people 65 and older was working or actively looking for a job in June. The study surveyed 1,423 adults in February this year.
For many, money has a lot to do with the decision to keep working.
"The average retirement age that we see in the data has gone up a little bit, but it hasn't gone up that much," says Anqi Chen, assistant director of savings research at the Centre for Retirement Research at Boston College. "So people have to live in retirement much longer, and they may not have enough assets to support themselves in retirement."
When asked how financially comfortable they feel about retirement, 14 per cent of Americans under the age of 50 and 29 per cent over 50 say they feel extremely or very prepared, according to the poll. About another four in 10 older adults say they do feel somewhat prepared, while just about one-third feel unprepared.
"One of the things about thinking about never retiring is that you didn't save a whole lot of money," says Ronni Bennett, 78, who was pushed out of her job as a New York City-based website editor at 63.
She searched for work in the immediate aftermath of her layoff, a process she describes as akin to "banging my head against a wall." Finding Manhattan too expensive without a steady stream of income, she eventually moved to Portland, Maine. A few years later, she moved again, to Lake Oswego, Oregon. "Sometimes I fantasise that if I win the lottery, I'd go back to New York," says Ms Bennett.
MATCH INFO
Champions League last 16, first leg
Tottenham v RB Leipzig, Wednesday, midnight (UAE)
Killing of Qassem Suleimani
'Of Love & War'
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Brief scores:
Toss: South Africa, chose to field
Pakistan: 177 & 294
South Africa: 431 & 43-1
Man of the Match: Faf du Plessis (South Africa)
Series: South Africa lead three-match series 2-0
All the Money in the World
Director: Ridley Scott
Starring: Charlie Plummer, Mark Wahlberg, Michelle Williams, Christopher Plummer
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