DUBAI // It has been a busy first week on the Dubai Metro, and transport chiefs expect passenger numbers to continue rising over the weekend and during the Eid holiday.
"We expect a high number of passengers - I would probably say more than we had the first weekend," predicted Peyman Younes Parham, the director of marketing and corporate communications for the Roads and Transport Authority (RTA).
The Metro was inaugurated last Wednesday, and 67,000 people tried out the 52km Red Line when it opened to the public the next day. By Saturday night, the total number of riders reached 178,000, despite operations being marred by delayed trains and queues of up to an hour to enter some stations.
Passengers have continued to ride the world's longest driverless rail system this week, however, and breakdowns become less frequent and queues shortened.
Last weekend, most of the passengers were drawn by the novelty of the Metro and a chance to get their first look at the massive project, which will cost Dh28 billion (US$7.6bn) by the time the Green Line is added next year.
Yesterday, some passengers were still riding the Red Line for entertainment, while others were using it to commute to work, conduct business and avoid traffic and taxis.
"I took the kids today because I heard it was busy at the weekend," said Cindy Lee, from Hong Kong. "It is something different for the kids and the city looks so different from up here."
Tarik Mohammad, a financial adviser from India, said the rail system has already become part of his daily life. He has been planning business meetings near Metro stations this week, he said.
"It is easier for me and usually for the people I am meeting," he said, while on his way to the Khalid Bin al Waleed station. "I have used it every day since Saturday when I visited family in Karama. Then Sunday and Monday, I've been organising my meetings around the Burjuman Centre and I also met a client from Abu Dhabi in Mall of the Emirates."
Katrina Santos, from the Philippines, boarded the Metro at the airport station with a small suitcase. "I was in Bahrain for work but now I have to go to the office in the Financial Centre," she said. "I got a taxi to the airport yesterday but this is much cheaper to get back. Taxis have a minimum pick up fare of Dh20 at the airport and this is costing me Dh2.30.
"I like using it but I have yet to really see how good it is in rush hour. If I can get across town in 15 minutes, then I'll take it all the time," the retail area manager said.
Weekday passenger numbers has averaged a little more than 40,000 per day this week. In total, almost 280,000 passengers have used the system since it opened.
The RTA did not provide a breakdown of what hours of the day have been busiest, but Mr Parham said the overall high numbers reflect the public's intention to use the Metro as a means of transport.
"We are thrilled with this uprising trend in Metro numbers. It is a strong indicator of the revival of public transport sector," he said.
It may take some time, one expert said, before the full impact of the Metro is established and commuters' lives are dictated by the rail system.
"I would say that a huge first-day crowd of curiosity seekers is not uncommon," said Richard Wener, professor of environmental psychology at the Polytechnic Institute of New York University.
"After that initial drop-off, one might expect use to slowly build from word of mouth and, eventually, people choosing to live in areas best served by the transit line," Mr Wener said.
eharnan@thenational.ae
AUSTRALIA SQUAD
Steve Smith (capt), David Warner, Cameron Bancroft, Jackson Bird, Pat Cummins, Peter Handscomb, Josh Hazlewood, Usman Khawaja, Nathan Lyon, Shaun Marsh, Tim Paine, Chadd Sayers, Mitchell Starc.
More from Neighbourhood Watch:
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."
The Brutalist
Director: Brady Corbet
Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn
Rating: 3.5/5
Dr Afridi's warning signs of digital addiction
Spending an excessive amount of time on the phone.
Neglecting personal, social, or academic responsibilities.
Losing interest in other activities or hobbies that were once enjoyed.
Having withdrawal symptoms like feeling anxious, restless, or upset when the technology is not available.
Experiencing sleep disturbances or changes in sleep patterns.
What are the guidelines?
Under 18 months: Avoid screen time altogether, except for video chatting with family.
Aged 18-24 months: If screens are introduced, it should be high-quality content watched with a caregiver to help the child understand what they are seeing.
Aged 2-5 years: Limit to one-hour per day of high-quality programming, with co-viewing whenever possible.
Aged 6-12 years: Set consistent limits on screen time to ensure it does not interfere with sleep, physical activity, or social interactions.
Teenagers: Encourage a balanced approach – screens should not replace sleep, exercise, or face-to-face socialisation.
Source: American Paediatric Association
RESULT
Kolkata Knight Riders 169-7 (20 ovs)
Rajasthan Royals 144-4 (20 ovs)
Kolkata win by 25 runs
Next match
Sunrisers Hyderabad v Kolkata Knight Riders, Friday, 5.30pm
Indoor Cricket World Cup Dubai 2017
Venue Insportz, Dubai; Admission Free
Fixtures - Open Men 2pm: India v New Zealand, Malaysia v UAE, Singapore v South Africa, Sri Lanka v England; 8pm: Australia v Singapore, India v Sri Lanka, England v Malaysia, New Zealand v South Africa
Fixtures - Open Women Noon: New Zealand v England, UAE v Australia; 6pm: England v South Africa, New Zealand v Australia
Sun jukebox
Rufus Thomas, Bear Cat (The Answer to Hound Dog) (1953)
This rip-off of Leiber/Stoller’s early rock stomper brought a lawsuit against Phillips and necessitated Presley’s premature sale to RCA.
Elvis Presley, Mystery Train (1955)
The B-side of Presley’s final single for Sun bops with a drummer-less groove.
Johnny Cash and the Tennessee Two, Folsom Prison Blues (1955)
Originally recorded for Sun, Cash’s signature tune was performed for inmates of the titular prison 13 years later.
Carl Perkins, Blue Suede Shoes (1956)
Within a month of Sun’s February release Elvis had his version out on RCA.
Roy Orbison, Ooby Dooby (1956)
An essential piece of irreverent juvenilia from Orbison.
Jerry Lee Lewis, Great Balls of Fire (1957)
Lee’s trademark anthem is one of the era’s best-remembered – and best-selling – songs.