Rising construction material prices Nepal: Nepal experienced a significant rise in construction material prices between February and June, creating cost pressure across infrastructure and building projects. Bitumen prices recorded one of the largest increases, rising by approximately 107%, while steel reinforcement bars increased by around 26%, cement by nearly 16%, and diesel prices also moved upward during the period. The increase affected road construction, housing develop

Daikin Thailand: Daikin Industries and Toyota Tsusho NEXTY Electronics established a new joint venture company in Bangkok, named Daikin Toyota Tsusho Electronics Thailand Ltd. The company will focus on embedded software development for air conditioning systems manufactured in Thailand. The partnership was formed to improve development efficiency, shorten development timelines, and strengthen software capabilities as HVAC systems become more advanced and digitally integrated.

Hitachi and Anthropic Partner to Advance Physical AI and Accelerate Global AI Transformation Japan/US: Hitachi and Anthropic PBC have announced a strategic partnership to strengthen Hitachi’s “Lumada 3.0” business model and accelerate the deployment of physical AI across mission-critical sectors including energy, transportation, manufacturing, and finance. As part of the collaboration, Hitachi will deploy advanced AI, including Anthropic’s Claude models, across business proce

Panasonic and British Gas Partner for Panasonic Aquarea Heat Pump Servicing and Maintenance UK: Panasonic Heating & Cooling Solutions has entered a partnership agreement with British Gas to provide servicing and maintenance support for Panasonic Aquarea Air Source Heat Pumps installed across the UK. Under the collaboration, British Gas’ qualified engineers, trained in maintenance, diagnostics, and repair of Panasonic Aquarea systems, will support homeowners nationwide to ensu

Defra Postpones Great Britain HFC Phasedown Reforms Beyond 2027 UK: The Department for Environment, Food and Rural Affairs (Defra) has confirmed that it will not introduce legislation in 2026 to amend the HFC phasedown steps scheduled from 1 January 2027 in Great Britain, following an assessment of 137 consultation responses. As a result, the existing HFC phasedown step outlined in Annex 5 of the F-gas Regulation will remain in effect for 2027. The consultation, conducted acr

Heat Pumps Gain Ground in South Korea as Subsidies Drive Residential Adoption SOUTH KOREA: South Korea’s residential heating market is undergoing a significant transition as heat pumps increasingly challenge traditional gas boilers. Supported by government electrification policies and generous subsidies covering up to 70% of installation costs, heat pumps are becoming more affordable for households. Major manufacturers such as Samsung Electronics, LG Electronics, and KD Navie

NIBE Reports Stable Q1 Growth and Improved Operating Profitability SWEDEN: NIBE delivered a resilient start to 2026, with Q1 sales remaining broadly stable at approximately US$ 1.01 billion, while profitability improved significantly. Operating profit increased to around US$ 91 million, up from US$ 82 million a year earlier, lifting the operating margin to 9.0% from 8.1%. Net profit rose to approximately US$ 53 million, supported by organic sales growth, effective cost manage

HORNBACH Group Reports Robust Performance and Continues Strategic Expansion GERMANY: HORNBACH Group reported solid results for FY2025/26 despite a challenging consumer environment and rising costs. Net sales increased by 3.8% to approximately US$ 7.2 billion, supported by strong performance in its DIY retail business and a 7.1% increase in online sales. Market shares expanded across key European markets, including Germany, the Netherlands, Austria, Switzerland, and the Czech

Germany Approves Changes to Heating Law and Power Capacity Measures Germany: Germany’s cabinet has approved plans to replace the 2023 heating law that required new building heating systems to use at least 65 per cent renewable energy. Under the proposed changes, households will be allowed to continue using existing gas and oil boilers if they choose not to shift to alternatives such as heat pumps, district heating or biomass systems. The government stated that the new buildin

CASAVIA Signs Supply Agreement With NHC Platform Saudi Arabia: Saudi Industrial Development Co. subsidiary SIDC Ceramic Factory (CASAVIA) has signed an agreement with National Housing Company (NHC) to support the supply of sanitary ware products through the “SupplyPro” platform. The platform is designed to automate supply chain operations within the construction sector and connect manufacturers with real estate developers, contractors and end-users to improve supply efficienc

South Korea Expands Residential Heat Pump Adoption South Korea: South Korea’s residential heating market is shifting towards heat pumps as the government advances heating electrification measures and manufacturers expand household product offerings. Industry sources stated that KD Navien plans to launch a residential heat pump boiler in the domestic market next month after supplying the product in the United Kingdom. Heat pumps operate by transferring heat from outdoor air in

How Consumer Preference Has Driven the Dominance of Japanese Air Conditioners in Australia The Australian air conditioner market is significantly influenced by Japanese brands, with consumer preference playing a key role. Brands like Daikin, Mitsubishi Electric, Mitsubishi Heavy Industries (MHI), Fujitsu and Panasonic consistently top buyer satisfaction surveys, command premium prices, and enjoy loyalty that no other competitor has successfully eroded. Understanding why Austr