Canadian telecom sector gathers for annual summit as report touts industry investment
TORONTO - A new report says sustained investment in telecommunications infrastructure is key to boosting Canada's economic growth after the sector contributed $87.3 billion in direct GDP last year.
The study by PricewaterhouseCoopers, which was commissioned by the Canadian Telecommunications Association, says the sector supported 661,000 jobs across various industries in 2024.
Its report was released Tuesday as industry leaders and government and regulatory officials gather for the 23rd annual Canadian Telecom Summit in downtown Toronto.
As demand continues to grow for advanced connectivity, the report says Canadian telecom companies spent approximately $282 per capita on network development in 2024.
But it outlines challenges providers face, including higher costs, declining revenue growth, heightened competition and a complex regulatory environment.
Canadian Telecommunications Association president and CEO Robert Ghiz says it is crucial for all levels of government 'to consider the impact of their regulations and policies on the sector's ability to invest for the future and meet economic needs.
This report by The Canadian Press was first published June 3, 2025.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
25 minutes ago
- Yahoo
US still dependent on Canadian oil, despite Trump's claims, Cenovus CEO says
CALGARY (Reuters) -The U.S. is still reliant on Canadian oil imports, despite claims made by U.S. President Donald Trump, Cenovus Energy's CEO said on Tuesday at a conference in Calgary, Alberta. Trump has threatened on-again, off-again tariffs on Canada's oil, of which nearly 4 million barrels per day are exported to the United States. Canada also remains dependent on U.S. energy systems, Cenovus CEO Jon McKenzie said, adding the country must diversify its customer base. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Hamilton Spectator
27 minutes ago
- Hamilton Spectator
OPEC secretary-general takes aim at net-zero targets ‘detached from reality'
CALGARY - The secretary-general of the Organization of Petroleum Exporting Countries says there's no peak in oil demand on the horizon. Haitham al-Ghais made his remarks in a speech to the Global Energy Show in Calgary. He says primary energy demand is forecast to rise by 24 per cent between now and 2050, surpassing 120 million barrels a day. Al-Ghais says that will require US$17.4 trillion in investment over that time. He says the prediction isn't based on ideology, but on data. Al-Ghais says OPEC takes climate change 'very, very seriously,' but he criticized net-zero targets that he calls 'unrealistic,' 'fixated on deadlines' and 'detached from reality.' This report by The Canadian Press was first published June 10, 2025.
Yahoo
36 minutes ago
- Yahoo
Chip designer Alphawave sees stock soar on Qualcomm takeover agreement
Shares in chip designer Alphawave rose sharply on Monday after the British-Canadian firm agreed to be acquired by US rival Qualcomm for around $2.4bn (€2.1bn) in cash. As of around 9.45am London time, Alphawave's stock had risen around 23% in daily trading on the LSE. Qualcomm's offer values each share at 183p, a 96% premium on the closing price seen on 31 March, the final day before Qualcomm and Alphawave announced they were holding discussions. The $2.4bn valuation is still half of the total worth attributed to Alphawave when it launched an IPO in 2021. At its stock market debut, Alphawave shares were worth 410p each and the group was valued at £3.1bn (€2.7bn), although the firm has generally traded well below this level since its IPO. The deal is expected to close in the first three months of 2026, subject to shareholder and regulatory approval. Related London Stock Exchange urged to do more to hold onto retail traders Why the US is banning Qualcomm and Intel from exporting some chips to China Alphawave designs semiconductor technology for data centres and AI applications, thus providing Qualcomm with an opportunity to diversify away from smartphone components. 'Qualcomm's acquisition of Alphawave Semi represents a significant milestone for us and an opportunity for our business to join forces with a respected industry leader and drive value to our customers,' said Tony Pialis, CEO of Alphawave Semi. 'By combining our resources and expertise, we will be well-positioned to expand our product offerings, reach a broader customer base, and enhance our technological capabilities,' he added. Cristiano Amon, CEO of Qualcomm, commented on the deal: 'The combined teams share the goal of building advanced technology solutions and enabling next-level connected computing performance across a wide array of high growth areas, including data center infrastructure.' Alphawave said its directors would unanimously advise shareholders to vote in favour of the takeover. For the deal to go ahead, it would require a green light from investors representing 75% of shares. The takeover raises concerns about the attractiveness of listing in the UK, particularly after other high-profile departures from the LSE. Food-delivery service Deliveroo and cybersecurity and AI firm Darktrace have both agreed to be acquired by US firms. The fintech Wise also announced last week that it would be moving its primary listing to the US. Error in retrieving data Sign in to access your portfolio Error in retrieving data
