Internet, wireless services key to Telecom industry
Telecommunications services generated $40.3 billion in revenue last year, up $2.1 billion or 5.5 per cent, from the prior year, according to an annual industry report issued Wednesday. The increased telecom revenue was mainly attributable to growth in Internet and wireless services, with revenue from residential phone service rising a marginal 0.5 per cent, according to the CRTC report. Canadian Radio-television and Telecommunications Commission’s second annual “Communications Monitoring Report” said Canada’s telecom and broadcast industries generated a total of $54 billion in revenue in 2008.
That’s up six per cent from $51.3 billion in 2007.
Combined revenues from television, radio, cable and home satellite services in the broadcast industry were up $900 million, or 7.3 per cent, and totalled $14 billion for the twelve-month period that ended on Aug. 31, 2008. Radio broadcasters accounted for 11 per cent of the $14 billion, television accounted for 39 per cent and 50 per cent from cable and direct-to-home satellite companies that distribute programming to home.
Net fund redemptions between $1.4B and $1.9B in July
Net redemptions of mutual funds for July were estimated to be between $1.4 billion and $1.9 billion, according to the Investment Funds Institute of Canada. IFIC estimated Wednesday net assets of the mutual fund industry for the month of July will be between $554.4 billion and $559.4 billion, up 1.9 per cent from June’s total of $547.1 billion. “Last month we saw the continuation of the trend we have seen since April — the movement of assets out of money market funds and into long-term funds accompanied by strong growth in assets under management overall,” IFIC’s Pat Dunwoody said in a statement.