Delhi Master Plan 2047 Targets 40 Lakh New Homes and Expanded Metro Network New Delhi: The Master Plan for Delhi (MPD) 2047 has been unveiled, with plans to construct around 30–40 lakh homes and expand the metro rail network to 695 km by 2047. Union Housing and Urban Affairs Minister Manohar Lal said Delhi’s population is projected to reach 3.20 crore, increasing pressure on urban infrastructure. The plan also includes six new Regional Rapid Transit System corridors and furth

Shanghai Eases Property Measures to Support Housing Demand China: Shanghai will ease several property-related measures from Friday, including mortgage, housing provident funds and purchase subsidy policies, as authorities seek to support housing demand. For second homes purchased outside the city’s outer ring expressway, the minimum down payment for commercial mortgages will be reduced to 15%, from 20% previously. The measures form part of a broader adjustment to housing poli

Kermi Duschdesign Appoints Karsten Denker as Managing Director Germany: Karsten Denker will become Managing Director for Sales and Marketing at Kermi Duschdesign in August 2026. He has been responsible for the company’s international business since August 2025 and will take on additional responsibility for sales in Germany and Austria, internal sales and service, marketing and product management. Denker has more than 25 years of management experience, including roles at Linde

Danfoss Reports 15% Organic Growth in First Half of 2026 Global: Danfoss reported 15% organic growth in the first half of 2026, with sales reaching EUR 5.3 billion (USD 6.2 billion). Growth and order intake increased across its three business segments, while operational EBITA rose 44% to EUR 813 million (USD 948 million), resulting in an operating margin of 15.3%, up 3.5 percentage points from the same period last year. Cash flow increased to EUR 164 million (USD 191 million)

Haier HVAC Solutions Europe and Frigentis Form Austria Partnership Austria: Haier HVAC Solutions Europe and Frigentis GmbH have entered into a partnership covering the Austrian HVAC market. Frigentis, a specialist wholesaler of air-conditioning technology and heat pumps, acts as an official distributor for Haier Austria. The company has more than ten years of B2B experience and provides products and services for air-conditioning and heat pump installations to contractors and

NIBE Appoints Jonas Bjuhr as Managing Director of NIBE AB Sweden: NIBE has appointed Jonas Bjuhr as Managing Director of NIBE AB, with the appointment taking effect on 4 December 2026. He will assume operational responsibility for NIBE AB, which is the largest company within both the NIBE Group and its Climate Solutions business. Bjuhr joins NIBE after 25 years at Hydro, where he held several senior positions and most recently served as vice-president of the Precision Tubing

NIBE Reports Continued Organic Growth in Second Quarter of 2026 Global: NIBE reported continued underlying organic growth in the second quarter of 2026, marking the sixth consecutive quarter of growth compared with the corresponding period of the previous year. Operating profit and operating margin also improved for the sixth consecutive quarter. The company told US tariffs had been partly offset in two of its three business areas, while NIBE Stoves was more affected. It also

3U Holding to Close Three HVAC Businesses Germany: 3U HOLDING AG will permanently close the operations of Calefa GmbH, EMPUR Produktionsgesellschaft mbH and EM-PLAN GmbH within its HVAC segment. Operating activities will cease on 30 November 2026, with final closure expected by 31 March 2027. The decision affects 47 employees. The company’s remaining HVAC activities, including online retail, will continue. The closures are attributed to a decline in demand for surface heating

Chinese AC brands continue dominating the market through competitive pricing, extensive dealer networks, and strong consumer perception regarding performance and reliability.

Tariffs USA: The United States has imposed 50 percent tariffs on approximately $20 billion worth of Canadian goods after trade negotiations between the two countries failed to produce an agreement following three days of talks in Washington, DC. In response, Canadian Prime Minister Mark Carney outlined measures to shield Canadian workers and businesses from the impact of the escalating trade tensions, including additional support for affected industries. Canada is also prepar

Retail Store INDIA: India’s home improvement market is undergoing a shift as digitally native brands increasingly challenge traditional players by rethinking both product offerings and distribution models. Bathware brand Ruhe is among the companies pursuing this approach, combining e-commerce, technology, and an inventory-light distribution model to support its dealer network. Instead of relying on the conventional distributor-led model, Ruhe has developed a digital-first eco

Acquisition USA: Vector Building Products, a specialty building products distribution platform serving the non-residential construction market across North America, has acquired Prestige Distribution, LLC., a distributor headquartered in Northbrook, Illinois, with additional operations in Dallas, Texas. Founded in 2004, Prestige provides Division 10 and other commercial specialty products, offering design, distribution, project management, and installation services to custome