BIZ BUZZ: Remolona drops US citizenship

After spending a good part of his illustrious career on foreign soil—14 years at the Federal Reserve Bank of New York and 19 years at the Bank for International Settlements, among others—newly appointed Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona was ready to return to the Philippines and contribute what he can to nation-building.

Remolona was so serious about his intent to give back to the country that he gave up his American citizenship with the help of Finance Secretary Benjamin Diokno, a colleague from their early days at the School of Economics of the University of the Philippines.

Like many Filipino professionals based abroad, Remolona held dual citizenship. But now, he is solely a Filipino citizen.

Diokno said Remolona believed that it was just right to give up his US citizenship before he took up the post as a member of the Monetary Board in 2022, on his way to eventually being appointed the new head of the BSP for the next six years.

Diokno jokingly described the 70-year-old Remolona as a “partner in crime” but more seriously as a “cerebral” economist who is more than ready to serve his country.

—Tina Arceo-Dumlao

Pilmico’s achievement

Pilmico Animal Nutrition Corp., a food and agribusiness subsidiary of the Aboitiz Group, has made itself known to the global market after its hens produced 500 eggs each by 100 weeks.

By being so prolific, Hendrix Genetics gave the 500 Egg Club Award to Pilmico at the recent Philippine Poultry Show and Ildex Philippines 2023, the first in the Philippines and Asia.

Prior to this latest milestone, Pilmico Farms produced 470 to 492 eggs per hen at Week 100, but already much higher than the industry average of 400 to 450 eggs per hen in the Philippines.

“As challenging as it may be, we achieved this through having the right layer genetics and equipment, proper farm management and systems and most importantly the high-quality feeds of Pilmico designed for precise nutrition to express optimal growth and productivity of hens,” said Serge Tan, Pilmico assistant vice president for poultry and swine grower-finisher operations.

“Genetic companies have been aspiring to achieve this for many years, but it seemed impossible. We’re glad to attain this remarkable achievement which sets a new standard for excellence in the poultry industry,” he added.

—Jordeene B. Lagare

Bayanihan the University Hotel way

Not a lot of people outside University of the Philippines (UP) Diliman circles may know it, but there is a functioning hotel inside the campus and it is getting a major and long overdue makeover thanks to the spirit of bayanihan that is burning bright in the state university.

Out of the University Hotel’s (UH) 65 rooms, 10 deluxe rooms plus the presidential suite have already been renovated with funds coming from the Alpha Phi Beta fraternity that counts Finance Secretary Benjamin Diokno among its members.

That leaves 54 more rooms to go and volunteer UH general manager Patrick “Pato” Gregorio is confident that the group tasked to help update the hotel will be able to knock on enough doors within and even outside the UP community to complete the major project.

But even today, University Hotel is already ringing up better revenues with the upgrade of the bar, the restaurant and the entertainment area, allowing it to hold events such as the coming Jam Sessions on June 30 featuring Nyoy Volante and Noel Cabangon.

Gregorio, whose experience in various fields include stints in hotel operations and sports as secretary general of the Philippine Olympic Committee and in the corporate world as consultant for the MVP Group, is also gearing up for the refurbishment of the hotel’s lobby and brand refresh.

If plans come to fruition, Gregorio hopes that the team that reports to the UP president will have the mandate and confidence to also refurbish the accommodations in other campuses of the UP system.

—Tina Arceo-Dumlao INQ

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