RAPAPORT...Three companies in Nirav Modi's jewelry empire - A.Jaffe, FirestarDiamond, and Fantasy - have filed for bankruptcy in the US, with two of themhoping to find buyers soon.Indian investigators are probing allegations that Modidefrauded Punjab National Bank of $1.8 billion by obtaining unauthorized loans.The total amount could be about $200 million more than that, the lender said inan updat...Read More

China's steel purchasing managers' index (PMI) fell into contraction territory in February after nine months of expansion.The index fell 1.4 points to 49.5 points in comparison with that for January, according to data released by the China Federation of Logistics & Purchasing (CFLP) on Wednesday February 28.Business activity in the steel industry thinned...Read More

KUALA LUMPUR, March 1 (Reuters) -Data from the Markit Malaysia Purchasing Managers' Index forFebruary.?EUREURReadings above 50.0 signal an improvement in businessconditions while ones below indicate deterioration. DATAFEBJANDEC49.9 50.5 49.9 CONTEXT* A decline in new orders, reflecting weak demand, led theheadline PMI index to show contraction, though at a marginalrate. The index was swung between...Read More

RAPAPORT... De Beers' diamond-grading unit will launch two of itseducational courses in Chinese, aiming to tap the important and fast-growingmarket. The International Institute of Diamond Grading &Research (IIDGR) will offer its online Diamond Foundation Course - covering theentire pipeline - in Simplified Chinese from March 1. It will translate itsPolished Diamond Grading Course later this ye...Read More

(IDEX Online) - The International Institute of Diamond Grading & Research (IIDGR), part of De Beers Group, will launch two of its diamond education courses in Simplified Chinese, helping students in one of the largest and fastest growing markets for diamond jewelry to enhance their knowledge of the industry.   The online Diamond Foundation Course, which was launched last year and is the i...Read More

** Rio Tinto shares fall as much as 4.8 pct toA$77.25, its lowest level in two weeks** Stock trading ex-dividend** Posts biggest intra-day pct decline since April, 2017** About 3.1 mln shares change hands, compared with the30-day average trading volume of about 2.3 million shares** Rio shares biggest drag on the Australian main board (Reuters Messaging:rushil.dutta.thomsonreuters.com@reuters.net)...Read More

Handan, a major steel-producing city in north China's Hebei province, will step up its steelmaking curbs by cutting production by 50-55% until the end of March, according to an official notice from its local government late on Monday February 26. The city, which is among 28 in the country's northern region that are limiting production at 50% of capacity during the winter heating season, which ends...Read More

Capita Plc (LON:CPI) posts its finals on Thursday amid concerns it could face a similar - if not worse - fate than collapsed contractor Carillion.Last month the outsourcer issued a profit warning and announced plans for a ?700mln rights issue and to scrap its dividend.Jonathan Lewis, who started as Capita's chief executive two months ago, said the company was "too complex" and "too widely spread...Read More

RAPAPORT...Indian companies Dharmanandan Diamonds and Hari Krishna Exportshave adopted blockchain technology to improve traceability of stones throughthe supply chain.Dharmanandan, a Mumbai-based manufacturer, has partneredwith technology company Everledger to place its diamond-tracking data onto ablockchain platform. The collaboration marries two existing projects:Everledger's diamond blockchain,...Read More

** Genworth Mortgage Insurance Australia Ltd fallsas much as 7.1 pct to A$2.34, its lowest since May 2016** Australia's biggest mortgage insurer's stock tradesex-dividend** Stock posts biggest intra-day pct fall since Dec. 15** Stock top pct loser on the Australian main index ** Co on Wednesday posted a 26.6 pct fall in FY net profitattributable to A$149.2 mln ($115.50 mln) ($1 = 1.2918 Australian...Read More

China's imports of iron ore rebounded to the second highest ever in January while those for coking coal fell to a seven-month low. Exports of scrap surged on the year, while those for coke, which include semi coke, contracted.[Editor's note: This table has been amended...Read More

RAPAPORT... Polished-diamond shipments out of India increased in January,according to data from the nation's Gem & Jewellery Export Promotion Council(GJEPC). Polished exports climbed 29% year on year to $2.08 billionand, by volume, rose 20% to 2.7 million carats. The average price grew 7% to$766 per carat. Polished imports dropped 21% to $136 million, while netpolished exports - the excess of...Read More

TAIPEI, March 1 (Reuters) -Data from the Nikkei/Markit Taiwan Purchasing Managers'Index for February. Readings above 50.0 signal an improvement in businessconditions while readings below indicate deterioration.FEBRUARYJANUARYDECEMBER 56.056.9 56.6 *The headline PMI of 56.0 in February, down from 56.9 inJanuary, showed that the rate of improvement in themanufacturing sector moderated slightly.*Alth...Read More

Prices for domestic steel wire rod inched upward by ?,?5 per tonne in Southern Europe this week with mills well-booked and supply tight, sources told Metal Bulletin on Wednesday February 28.Metal Bulletin's weekly price assessment for domestic mesh-quality wire rod in Southern Europe widened upward to ?,?535-560 ($658-688) per tonne delivered on Wednesday, compared with ?,?530-555 per tonne delive...Read More

RAPAPORT... Thailand's gem and jewelry exports climbed2% to almost $13 billion in 2017, excluding gold, Commerce Minister SontiratSontijirawong said in his opening address at the Bangkok Gems & JewelryFair last week.An improving economic outlook in keymarkets for Thai-manufactured jewelry, such as the US, provides optimism forcontinuing growth in the country's gem exports, according to governm...Read More

** Oil and gas explorer Central Petroleum Ltd risesas much as 21.05 pct to A$0.115, its highest since Sept. 1, 2017** Co's unit wins Queensland Government's tender acreage; Coand Australia-based explosives manufacturer Incitec Pivot to set up a 50:50 joint venture to operate on acreageland ** Incitec to also provide A$20 mln ($15.51 mln) of fundingto JV for exploration and appraisal of the acreage...Read More

Export prices for Southern Europe-origin rebar have held steady this week with prices remaining too high for customers in Algeria, market sources told Metal Bulletin on Wednesday February 28.Metal Bulletin's weekly export price assessment for Southern European rebar was ?,?480-490 ($590-602) per tonne fob main ports on Wednesday, unchanged week-on-week.Mills in Italy and Spain have seen their lead...Read More

Yesterday’s testimony by Jerome Powell, the recently appointed chairman of the Federal Reserve, significantly underlined the fact that we are now deeply immersed in a period of quantitative normalization.In response to the economic meltdown and the recession that resulted from bank failures, an outcome of their lending practices, starting in 2008 the Federal Reserve initiated a systematic ap...Read More

Base metals traded on the London Metal Exchange are mainly weaker this morning, Wednesday February 28, with prices off by an average of 0.4%. Lead prices lead the decline with a 1% drop, followed by copper prices (-0.6%) at $6,989 per tonne. Tin, zinc and nickel prices are off between 0.2% and 0.4%, while aluminium prices are little changed. This follows a day of general weakness on Tuesday that s...Read More

** Australia's energy index falls as much as 2.2 pctto over two-week low** Oil prices fell on Wednesday, after official data showeda larger-than-expected increase in U.S. crude inventories and asurprise build in gasoline stocks ** Brent crude futures fell for a second day after risingfor six straight sessions** Oil Search drops as much as 5.2 pct to lowestsince early Dec. 2017; marks sharpest intr...Read More