Wednesday Business Digest: EU State of the Union Address, airBaltic's Court Win, and Latvia's Economic Growth
On Wednesday, September 16, the European Commission president delivers her annual State of the EU address, a US court approved airBaltic's initial bankruptcy filings, and Latvia's economy is growing faster than previously forecast.
Europe and international news
European Commission President Ursula von der Leyen is delivering her annual State of the European Union address in Strasbourg on Wednesday. Meanwhile, the European Commission is working on a proposal to ban social media use for children under 13. Discussions are also underway about Canada potentially becoming the first country to gain EU associate member status.
The US Bankruptcy Court for the Southern District of New York has approved the initial petitions filed by Latvian airline airBaltic. In the UK, August inflation reached its highest level in five months. Estimates of the costs the US has incurred so far from its involvement in the Iran conflict are also being discussed.
Latvia's economy and business
Latvia's economy is growing faster this year than earlier forecasts suggested. A new funding programme for rural entrepreneurs has been launched, offering 27 million euros. A target has also been set for what share of the EU's average GDP per capita Latvia aims to reach by 2034.
Retail chain Pepco Latvia reports a successful year. Changes are also expected in how furniture is procured for state institutions, while the Consumer Rights Protection Centre (PTAC) has ordered restrictions on another website. The number of incoming cross-border parcel shipments has also risen.
Riga and beyond
A new retail store will soon open in the Bergi building that previously housed a Sky store. Discussions continue about the future of Riga's Station Square and the building that once held the Fēnikss store. Latvian entrepreneurs traveled to Germany this week to develop cooperation with German partners.
