BIZ BUZZ: Panglao Hole symposium?
Every year, the world’s top central bankers, policymakers, academics and market movers descend on Jackson Hole, Wyoming, for the Federal Reserve Bank of Kansas City’s high-profile symposium—a must-watch event where one stray comment can jolt global markets.
Now, the Bangko Sentral ng Pilipinas (BSP) wants its own version of that.
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Next month, Panglao, Bohol, will play host to the BSP’s own version of the famed Jackson Hole gathering.
The lineup won’t disappoint. Among the guests is former Bank of Thailand Governor Sethaput Suthiwartnarueput, alongside other heavyweights expected to unpack this year’s twin themes: the importance of inflation expectations and banking supervision.
Governor Eli Remolona Jr. said the event was part of the BSP’s broader push to beef up its research muscle. And it’s showing results.
The BSP Research Academy (BRAc), led by Assistant Governor Maria Margarita Debuque-Gonzales, has had a banner year: five papers published in peer-reviewed journals and a total of 6,700 citations, up by 168 from last year.
Still, the big question for market watchers: will Panglao deliver the same market-moving punch as Jackson Hole, or will it stay as a big research affair? Stay tuned. —Ian Nicolas P. Cigaral
No IPO yet for Bounty Fresh
Going public is still not an option for Bounty Fresh Group Holdings Inc., but the company is not entirely ruling out this possibility.
When asked whether an initial public offering (IPO) is in the pipeline, Bounty Fresh president and CEO Kenneth Cheng only said, “No. Similar to last year, hindi totoo ang tsismis (the rumors are not true).”
“Again, there are no plans. But then I cannot say no because I don’t know what will happen in the future,” Cheng told reporters in a media meetup on Monday.
This isn’t the first time that the media has posed the IPO question to Bounty Fresh. Still, for now, it will focus on opening new stores and improving the existing ones.
In particular, the company will invest in its people, implement good governance within the company and establish effective systems to boost its operations. —Jordeene B. Lagare
SEC’s big win
We’re all aware that employee well-being and diversity are no longer mere buzzwords in the corporate world.
This is probably why the Securities and Exchange Commission (SEC) has been serious in implementing these—so much so that the corporate watchdog took home an award.
Last month, Investors in People (IiP) Philippines conferred an award to the SEC for well-being and diversity, recognizing the commission for its commitment to “investing in its workforce to achieve excellence in public service.”
“At the SEC, we’ve always believed that our greatest strength lies in our people,” SEC Commissioner Javey Paul Francisco said in a statement. “They are at the heart of our progress, the trust we’ve earned and the reforms we’ve led.”
These awards add to the SEC’s list of other recognitions, including being the first agency in the government financial sector to receive the IiP Standard Accreditation, a recognition for people management.
Cheers! —Meg J. Adonis
Another round for PNP personnel
Uniformed personnel will get to enjoy perks from the Ayala Group a little longer.
On Monday, Ayala Corp. announced it had renewed its Saludo sa Serbisyo partnership with the Philippine National Police, thus extending the program that grants exclusive benefits for their officers.
Under the program, both active and retired PNP personnel have easier access to the products and services of Ayala.
This includes home and car ownership assistance, financial literacy training, livelihood support for unemployed spouses and retirees and exclusive discounts to health and wellness services, among others.
Since its launch in 2016, this program has already helped at least 16,000 PNP personnel and their dependents, according to Ayala.
More to come! —Meg J. Adonis INQ
