Will We Still Be Working at 70? Shopping Center Changes and a New Bolt Rival Lead Latvia’s Business News

Could Europeans still be working at 70 before they qualify for a pension? That is one of the main questions in Delfi Bizness’s review of business and economic developments on Monday, Aug. 31.

Several European countries have raised the retirement age in recent years, while others are actively debating similar changes. Some have already decided that people will eventually need to work until at least 70 to receive a pension. The roundup asks what plans Latvia has for retirement policy.

The review also focuses on defense industry cooperation. Finland’s Patria and Norway have agreed on the purchase of 20 Patria 6x6 armored vehicles under the Common Armoured Vehicle System program. Latvian companies are expected to benefit from the order, with Uģis Romanovs, Patria’s head of major customers in the Baltics and chief executive of Patria Latvia and Defence Partnership Latvia, explaining the possible impact.

Other items include Latvia’s economic growth, a new competitor for Bolt, the company still providing passenger transport to Moscow, and the sectors where businesses are most optimistic or pessimistic. The roundup also looks at Conexus Baltic Grid’s turnover, a special certification for Tet’s data center, natural gas prices, new products from Limbažu piens and Rasēns, the redevelopment of Imanta shopping center and possible reductions in electricity bills.

International and legal updates include Israel’s planned delivery of an air-defense system to Greece, an extension of the detention of a former manager of a Baltic private-equity fund, and falling turnover at CrossChem.