Plus: Biofuel mandate for New Zealand within easy reach of Gull New Zealand, while food prices flatten in India. Minimum wage for Philippines workers gets boost as food, energy prices climb.



 

Energy 

Reporters for Khaleej Times Online write from Islamabad: “Pakistan's federal cabinet yesterday convened a special meeting here to discuss the worsening energy situation and decided that all commercial markets will be closed at 9 pm while clocks will be set one hour ahead from June 1 till the end of August. The objective of the whole exercise is to save energy in the peak summer season. The move of setting the clock an hour ahead that had failed twice  first during the term of prime minister Banazir Bhutto and then in the last government headed by President Pervez Musharraf is now being tried again to get the desired goal of saving energy.” Go to article.

In Energy Current, reporters file from Singapore on New Zealand biofuel news: “Gull New Zealand will be ready to meet its biofuel obligation by this Monday, more than one month before the passing of the country's biofuel mandate. The new biofuel law, proposed to come into effect on July 1 mandates that 0.53 per cent of the energy content of all fuel sold in New Zealand in the second half of 2008 must be sold as a biofuel. That percentage will be gradually increased to 3.4 per cent by 2012.” Go to article.
 

Inflation watch 

Reporters for The Economic Times write from New Delhi: “Reeling under high inflation for quite some time, the consumers in four metros received some respite with retail food prices generally remaining steady in early part of May. Barring groundnut oil, prices of 13 essential commodities in Delhi, Mumbai, Kolkata and Chennai retail markets remained steady during the week ended May 9, according the government statement.” Go to article.

Angelo S. Samonte and Anthony A. Vargas submit to The Manila Times: “President Gloria Arroyo announced Thursday that the National Capital Region wage board has agreed to increase pay by P20, bringing the minimum daily wage to P382 for workers in Metro Manila. The increase will be implemented once the wage board finalizes the terms of the adjustment, said the President during the 29th National Conference of Employers. She said her government will raise the country’s minimum wage amid soaring food and energy prices that have pushed inflation to a three-year high, and a formal announcement will be made soon. Inflation surged to 8.3 percent in April.” Go to article.