BIZ BUZZ: MB first, wedding next
Interest rates won’t likely move during the upcoming Monetary Board (MB) meeting, the first for this year, but the meeting itself will.
For the first time in recent history (or maybe first time ever), the policy-making body of the Bangko Sentral ng Pilipinas (BSP) won’t discuss monetary policy on its long-scheduled date. Instead of meeting tomorrow (Feb. 15), the MB will conduct its policy meeting today—not because our officials want to rub elbows with each other on Valentine’s day, but because of a conflicting show biz event on Thursday.
“[It’s the] wedding of my stepson and Eli’s niece,” Finance Secretary Ralph Recto told reporters on Tuesday at the launch of the government’s latest Retail Treasury Bond offering.
Recto is, of course, referring to Luis “Lucky” Manzano, son of his wife Vilma Santos, and Jessy Mendiola, a niece of BSP Governor Eli Remolona Jr. (Because of this relationship, Manzano had graced an event at the BSP, even before his stepdad assumed office as Secretary of Finance.)
But the MB meeting won’t be bumped off. Instead, it will come first before the wedding. However, the official announcement of the MB decision would still be made on Feb. 15, as scheduled.
Won’t this mean that market-moving information would be leaked ahead of the official announcement? For people closely watching the BSP, it’s not an issue at all. After all, Gov. Remolona has long telegraphed that there won’t likely be any change in monetary settings for this meeting. —DORIS DUMLAO-ABADILLA
Ex-Unilever exec tapped to head DTI’s comms unit
Trade Secretary Alfredo Pascual has designated a new official to lead the Department of Trade and Industry’s (DTI) public relations division, tapping a former Unilever executive to take on the post where media engagement is one of the key functions.
Jose Edgardo Sunico, who was Unilever’s head of communications and corporate affairs for Southeast Asia for more than two years, was appointed to the position, replacing Undersecretary Maria Blanca Kim-Lokin who was appointed in May 2023.
“I’m excited to work on the [DTI’s] drive for industry competitiveness and innovation through effective communication,” Sunico said in a message sent to Biz Buzz when asked to comment.
Sunico was sworn into office by the trade secretary last Monday morning.
Aside from his more than two-year stint as a communications executive, Sunico had also assumed the roles of area sales manager, media director and vice president, among others, at the consumer goods giant where his career spanned three decades. —ALDEN M. MONZON
Laurel names new DA usec
A former government official has joined the ranks of the Department of Agriculture (DA) and he is no stranger to the country’s farm sector, particularly fisheries.
The DA, in a special order signed Feb. 8 this year, announced the appointment of Asis Perez as undersecretary for policy, planning and regulations, effective immediately.
A lawyer by profession, Perez was the convener of advocacy group Tugon Kabuhayan and executive director of Tanggol Kalikasan until Agriculture Secretary Francisco Tiu Laurel Jr. called him to serve the agency.
Before this, he was national director of the Bureau of Fisheries and Aquatic Resources under the administration of the late President Benigno Aquino III in 2011.
Also a Doctor of Veterinary Medicine, Perez served as in-country representative of the US Department of Interior International Assistance Program.
Since Tiu Laurel took over the agriculture portfolio last November, he has appointed several individuals to key DA posts and reshuffled some of its officials to carry out its responsibilities more effectively.
Last month, Tiu Laurel named Jerome Oliveros as undersecretary for Special Concerns and for Official Development Assistance (ODA) Foreign Aid/Grants.
Lawyer Alvin John Balagbag, a former general counsel of the Frabelle Group of Companies, was named undersecretary and chief of staff.
Businessman Daniel Atayde, the brother of businessman Arturo Atayde, the husband of actress Sylvia Sanchez, was also appointed assistant secretary for logistics but the DA has yet to release his appointment papers. —JORDEENE B. LAGARE
