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As economic slowdown bites, markets hit with a huge dose of reality

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moratorium.On the macro front, while oil price hikes are heavy on consumer wallets, oil marketing companies will benefit as marketing margins are expected to improve.Then next bit of cheer for the markets is pent-up demand for cement.

Pre-monsoon construction in the rural economy is heartening. Cement prices strengthened in May.Another small shout out comes from within the auto sector.

With Mahindra and Mahindra tractor sales showing resilience, hopes are high that the company will steer through covid-riddled roads.For sectors like hotels, lights have dimmed until tourists begin to arrive, particularly foreign, but financial prudence could cushion earnings.For card companies, however, discretionary spending remains key.

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Gotabaya Rajapaksa - The economy is recovering, says President during meeting with professionals - newsfirst.lk
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The economy is recovering, says President during meeting with professionals
COLOMBO (News 1st); President Gotabaya Rajapaksa said that the nature or extent of the challenges will not matter in fulfilling the promises made to the people.He noted that development activities continue in the country while taking necessary steps to control the COVID-19 pandemic.The President also pointed out that the economy, which had been collapsed for nearly two years, is gradually recovering.The President made these remarks participating in the first round of discussions in a series of sessions with professionals representing various fields, held at the President’s House on Friday (11).The professionals who participated in the discussion said that they are further committed to make the national programme a success by giving the necessary strength to achieve the goals desired by the President, said a statement.The professionals vehemently rejected the allegations spread by some sections with the objective of achieving narrow political agendas, the statement added.Experts in the field said that the new approach to agriculture initiated by the President is being continuously supported by the researchers and entrepreneurs who are engaged full time in these fields, further noted the statement.Representatives from a wide range of fields, including education, policy, sociology, agriculture, research, water and renewable energy, medical, engineering and innovation, were present at the discussion with the President.Ministers, State Ministers, Members of Parliament, the Governor of the Central Bank, the Secretary to the President, the Principal Advisor to the President and many others were also present.
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