Business news for Mon, 24 Dec 2007 & with words phone+world. 2 news.

INDIA, the world's second-biggest wheat consumer, scrapped a tender to buy 350,000 tons of the grain after balking at higher prices amid expectations domestic production will be the highest in seven years. "Prices are too high," India's Commerce Secretary G.K. Pillai said in a phone interview with Bloomberg News in New Delhi yesterday. "We will take a decision on importing more wheat after the next wheat crop." The country should meet an output target of 75.5 million tons, the most since 2000, the farm ministry said on December 18. India, importing wheat for a second year to boost state reserves, may wait a few months before issuing a new tender as it expects prices to fall. Wheat rose above US$10 a bushel in Chicago for the first time on December 17 after concerns dry weather in Argentina, the world's fourth-biggest exporter, will shrink global supplies. "We may not import wheat as of now," Pillai said. Government-owned State Trading Corp on

THE number of Chinese broadband users has hit 122 million, the highest in the world, Xinhua news agency reported yesterday, citing an official from the information industry authority. Sixty percent of the netizens surfed on the Internet via broadband, said Jiang Yaoping, vice minister of the ministry of information industry, at a work conference of China Telecommunications Corporation on Saturday. Last year, more than 30 percent of China Telecom's income came from non-phone services, rising from 5.5 percent in 2002, the report said. One-third of the new broadband users are farmers, where the demand for the service is high, China Telecom officials said. The increased user number boosted the non-voice income of fixed-phone carriers, accelerating the transformation of traditional phone carriers into comprehensive information service providers, the report said.