LG Electronics Posts Second Consecutive Year of Record Revenue in 2025 South Korea: South Korean tech giant LG Electronics announced preliminary full-year 2025 results, recording consolidated revenue of USD 61.6 billion and operating profit of USD 1.7 billion, marking its second consecutive year of record sales. “Qualitative growth” businesses including B2B, webOS, product-based services and direct-to-consumer models now contribute nearly half of total revenue, while home app

Haier Bangladesh Launches 24/7 Call Centre, Expands Nationwide After-Sales Network Bangladesh: Haier Bangladesh has launched a 24/7 customer call centre and expanded its after-sales service network by adding 17 exclusive service centres and 7 direct service centres across the country. The initiative provides uninterrupted customer support, available 24 hours a day, seven days a week, and aims to improve response times and service quality nationwide. The company said the expan

U.S. Justice Department Sues California Cities Over Natural Gas Bans U.S.: The U.S. Department of Justice has filed a lawsuit against the cities of Morgan Hill and Petaluma in California over local ordinances that ban natural gas infrastructure and appliances in new construction. Filed in the Northern District of California, the complaint argues that the bans increase energy costs for consumers and undermine U.S. energy dominance by restricting federally regulated appliances

Midea Partners with WS Weinmann & Schanz to Expand Nationwide HVAC Distribution in Germany Germany: Midea has announced a major expansion of its sales network, confirming that from February 2026 it will become a listed HVAC supplier of specialist wholesaler WS Weinmann & Schanz GmbH. The partnership covers Midea’s full HVAC portfolio, including plug-and-play solutions such as PortaSplit, as well as dehumidifiers, air conditioners, and heat pumps. This marks Midea’s first whol

Franke Group Acquires Røros Metall to Boost Nordic Kitchen Hood Business Switzerland: The Switzerland-based Franke Group, headquartered in Aarburg, has acquired 100% of the shares of Røros Metall, a premium Norwegian manufacturer of RørosHetta kitchen hoods and ventilation systems, to expand its Nordic presence and strengthen expertise in central ventilation. Financial terms of the transaction were not disclosed. Røros Metall will become part of Franke Home Solutions, reinfor

Belize Introduces New Import Rules for Cooling Equipment to Cut Emissions Belize: Belize is introducing the Environmental Protection (Ozone Layer Protection) Regulations, 2025 in phases over the next three months to regulate the import of refrigerators, air conditioners, and other cooling equipment. The Department of the Environment (DOE) said the regulations will tighten controls on refrigerants to protect the ozone layer and reduce harmful emissions. Under the new rules, bu

Klaus Grohe, Former Hansgrohe Head, Dies at 88 Germany: Klaus Grohe, the long-running head of Hansgrohe Group and honorary chairman of its advisory board, passed away on January 3, 2026, at the age of 88. Born in 1937 in Aachen, Germany, the youngest son of founder Hans Grohe joined the company in 1968 after studying business and economics in Bern, Switzerland. Over nearly five decades, he led the company as head of sales, managing partner, chairman of the executive board fro

US Incentive Changes Raise Home Electrification Costs from 2026 USA: The removal of United States federal tax credits for residential solar panels, battery storage systems and heat pumps from the end of 2025 is expected to increase the cost of home electrification from 2026. While the change does not raise the upfront price of equipment, it eliminates the ability for homeowners with tax liability to offset costs through incentives. A typical residential solar and battery inst

Foreign Interest Sustains Real Estate M&A Activity in Vietnam Vietnam: Foreign investor interest in real estate mergers and acquisitions in Vietnam has remained steady, despite many publicly disclosed deal values appearing modest. Market participants indicate that these figures do not fully reflect actual capital commitments, as investment strategies have increasingly shifted towards long-term development projects and strategic partnerships. Research indicates that Vietnam ha

BNW Developments Plans Construction Partnership in Ras Al Khaimah UAE: BNW Developments has announced a proposed construction partnership valued at AED 1 billion (USD 272 million/EUR 250 million) with China Railway No. 4 Engineering Group Co. Ltd., a subsidiary of China Railway Group Limited. The collaboration is intended to support BNW’s upcoming development projects in Ras Al Khaimah, following progress on enabling and foundation works across its existing portfolio. The par

Western Chicago Residential HVAC Business Changes Ownership USA: A residential heating, ventilation and air conditioning (HVAC) company serving the western Chicago area has been sold, according to business broker Patrick Lange. The transaction involves a company founded in 1998 that has operated in the local market for over two decades. At the time of sale, the business reported annual revenue of approximately USD 1.53 million (EUR 1.41 million). The sale was completed as par

A. O. Smith Completes Acquisition of Leonard Valve USA: A. O. Smith Corporation has completed the acquisition of Leonard Valve through an all-cash transaction valued at USD 470 million (EUR 430 million), subject to customary adjustments. After accounting for estimated tax benefits, the transaction value is approximately USD 412 million (EUR 377 million) and was financed through borrowing under a new credit agreement. The acquisition expands A. O. Smith’s activities in water m