News

27 March 2020

Latvia declared state of emergency over Covid-19 from 13 March until April 14, 2020. The COVID-19 outbreak has generated both demand and supply shocks reverberating across the global economy. On 22 March, Cabinet of Ministers of the Republic of Latvia approved Finance Ministry's developed legislative draft on threats to the state and measures to prevent the damages from Covid-19. The Grant Thornton Baltic team has created a summary of supportive measures included in legislative draft.... Read more

27 March 2020

At the times of crisis, such as the current shake-up due to the spread of COVID-19, everybody is trying to do their part to keep the economy going. To mitigate the side effects of the restrictive measures, the Governmen of Norway has put in place several support mechanisms to aid Norwegian businesses. Check out the overview prepared by the KPMG office in Norway over the Norwegian crisis and funding actions as a result of the COVID-19 outbreak.... Read more

27 March 2020

In support of Norwegian businesses suffering due to COVID-19 crisis, on Friday (March 27) the Government of Norway proposed further measures to Stortinget, including a new scheme for cash pay-outs to otherwise sustainable businesses that are severely affected by measures to contain the pandemic. The fiscal measures so far, excluding the cash pay-out scheme mentioned above, add up to over NOK 75 billion, corresponding to around 2.4 percent of Mainland GDP.... Read more

26 March 2020

It will soon be already two weeks since businesses are trying to adjust to new ways of working under lockdown. Check out the tips and tricks to improve efficiency when working from home!... Read more

26 March 2020

If your company has operations in all three Baltic countries, check out the summary report prepared by COBALT Law Firm on the available COVID-19 related governmental support mechanisms in each of the three Baltic countries. For full overview, click here!  ... Read more

25 March 2020

Starting today, companies in Latvia that have been negatively affected by the measures to fight the spread of COVID-19 can apply for the government-approved support mechanisms through the state-owned development finance institution ALTUM. The support measures include guarantees for credit holidays and working capital loans. Applications are accepted starting today, March 25. Visit: https://www.altum.lv/lv/... Read more

25 March 2020

The current pandemic is first and foremost a human tragedy, but it also carries significant implications for our local and the global economy. Kaizen Institute has prepared a series of risk management and strategic planning tools and resources to curtail the impact and post-crisis recovery period for businesses and companies experiencing the economic impacts of this pandemic.... Read more

20 March 2020

The Foreign Investors' Council in Latvia Latvia's Government's efforts to limit the spread of Covid-19 has issued a statement expressing gratitute for the governments efforts to mitigate the spread of the virus, while affirming the need for state aid to companies that have been affected by the crisis.... Read more

19 March 2020

If you or your business needs a temporary office space or a place to stay during self-isolation or quarantine, read the message by the General Manager of the Clarion Collection Hotel Valdemārs by Nordic Choice about their offer to the NCCL member community.... Read more

18 March 2020

On Tuesday, March 17, Latvia's Cabinet of Ministers (CoM) resolved that for the prevention of consequences caused by COVID-19 in the social and entrepreneurial field it is necessary to act in four directions. The Ministry of Welfare is preparing proposals on how, during the COVID-19 pandemic, to provide in a solidary manner a fixed-term State aid to employers for the purposes of the payment of sick-leave certificates, performing this from the special budget funds. At the same time, tax solutions are also planned, as well as support to entrepreneurial activity in the form of financial mechanisms.... Read more