Roundup: Cybercrime law, NII Holdings, Telesat, IIC

- Wednesday, May 25, 2011

Roundup: Cybercrime law, NII Holdings, Telesat, IIC

A Guatemalan congressional committee has discussed a proposed bill to create a cybercrime law, congress said in a statement.

A presentation was made of experiences with similar laws implemented by the defense ministries of Uruguay, Argentina, Colombia and Venezuela.

The proposal was broadly welcomed, given that it would be part of a state and citizen security policy, independent lawmaker Francisco Contreras said.

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Norwegian central bank Norges Bank has taken a US$364mn stake in NII Holdings (Nasdaq: NIHD), owner of the Nextel digital trunking operator in Latin America, Citybiznews reported.

Norges Bank reported owning 8.79mn shares, or 5.16% of NII Holdings' outstanding stock. Nextel operates in Mexico, Brazil, Argentina, Peru and Chile.

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The Telstar 14R/Estrela do Sul 2 telecommunications satellite launched May 21 has failed to deploy one of its two solar arrays, a defect that, if permanent, will curtail owner Telesat Canada's growth plans in South America, Telesat and satellite builder Space Systems/Loral said.

Telesat has been counting on Telstar 14R to replace its predecessor at 63 degrees west and address substantial unmet demand for satellite communications in Latin America, particularly Brazil.

In a May 5 conference call with investors, Telesat Chief Executive Daniel S. Goldberg said the Telstar 14 is at full capacity given the strong demand in Latin America and that Telstar 14R would enable Telesat to pick up new business.

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The Inter-American Investment Corporation (IIC) has hosted a diagnostics workshop on internet marketing for micro and SMEs in Trinidad and Tobago, in collaboration with the Business Development Company Limited, the IIC said in a statement.

The workshop's objectives were to assist local SMEs in marketing themselves more effectively online and to help them understand how to use trust building strategies.

The program introduces a mechanism to diagnose SMEs and make it easier to identify issues that positively or negatively affect them, ultimately helping them gain access to medium and long-term financing.