Iraq Prepares Plans for 21 New Residential Cities Iraq: Iraq has prepared designs for 21 new residential cities as part of ongoing efforts to address housing shortages, according to an official statement. The Ministry of Construction and Housing is working towards developing fully serviced residential cities in cooperation with real estate developers across multiple governorates. Ministry spokesperson Nabil al-Saffar stated, “Basic designs have been prepared for 21 cities…the

Germany PHVAC Sector Maintains Stability Amid Slowing Growth Germany: Germany’s plumbing, heating, and air conditioning (PHVAC) sector ended 2025 at a stable level, although sales declined and growth momentum slowed following a period of strong demand. Industry sales reached approximately EUR 59.1 billion (USD 64 billion), generated by around 48,000 companies employing 390,000 people. Orders and capacity utilisation have decreased, and no immediate growth acceleration is expe

Chinese flag CHINA: As urban living in Hong Kong increasingly prioritizes efficiency, wellness, and optimal space use, a forward-looking bathroom brand has entered the market. Leisure Plus Building Products Company Limited, with nearly 30 years of presence in the city, has been appointed the exclusive Hong Kong agent for global bathroom brand JOMOO. Through this partnership, the companies aim to introduce premium smart bathroom solutions powered by JOMOO’s advanced AI-driven

Facility UK: Ultimate Renewables Supplies has launched a newly developed, purpose-built facility in Bicester as part of its ongoing expansion efforts. The new site represents a significant step forward for the company, featuring a larger warehouse, a fully equipped showroom, and a dedicated technical training workshop. It is designed to support rising nationwide demand for renewable energy solutions, offering installers, merchants, and commercial partners a hands-on environme

Grohe USA: GROHE positions the bathroom as the most personal space in the home, evolving into an emotional and experiential hub. Reflecting this shift, the GROHE 2026 Bathroom Trend Report highlights how bathrooms are moving beyond purely functional spaces, supported by the company’s focus on quality, design, innovation, and sustainability. Modern bathroom luxury is increasingly defined by personalization rather than opulence, with homeowners moving away from neutral designs

Logo USA: SPX Technologies, Inc. announced its financial results for the first quarter ended March 28, 2026. First Quarter Highlights (continuing operations; year-on-year comparison with Q1 2025). The company reported revenue of $566.8 million, reflecting a 17.4% increase, including 7.4% organic growth. GAAP income from continuing operations rose to $64.4 million, up 24.6%, while GAAP earnings per share (EPS) reached $1.27, marking a 15.5% increase. Adjusted EPS stood at $1.6

Trane technologies USA: Trane Technologies plc reported its financial performance for the first quarter of 2026, highlighting steady earnings growth and strong demand across key segments. The company recorded GAAP diluted earnings per share (EPS) from continuing operations of $2.66, while adjusted EPS stood at $2.63, reflecting a 7% increase year-on-year. Revenue reached $5 billion, marking a 6% rise, with organic revenue growth of 3%. Organic bookings increased significantly

Financial chart GERMANY: The euro zone economy recorded modest growth in the first quarter, according to a preliminary estimate released on Thursday, providing the first indication of economic activity following the onset of the Iran conflict. As an energy-importing region, the euro zone is considered particularly exposed among advanced economies to disruptions in oil, gas, and other shipments passing through the Strait of Hormuz, which began in late February. Eurostat report

Flag GERMANY: Germany recorded stronger-than-expected economic growth in the first quarter of 2026, despite energy price shocks linked to the Iran war, though unemployment climbed above 3 million in April. According to preliminary data from the country’s statistics office, gross domestic product (GDP) increased by 0.3% quarter-on-quarter, exceeding analysts’ expectations of 0.2%. Growth was primarily supported by higher household consumption and government spending, alongside

Lixil Japan: All business segments reported year-on-year growth in core earnings, supported by strong renovation demand, despite a decline of over 10% in new housing demand. The LHT segment benefited from increased sales of subsidy-eligible products; however, a sharp rise in aluminum prices in the second half, following a previously low base, negatively impacted fourth-quarter earnings. International and Other Markets: In the LWT international segment, revenue remained largel

AO Smith North America: The company reported sales of $946 million, with net earnings of $118 million and diluted earnings per share (EPS) of $0.85. In the North America segment, sales reached $753.4 million, reflecting a modest 1% increase. Growth was supported by the inclusion of Leonard Valve and pricing improvements, which helped offset weaker volumes in the water heater industry as well as production and shipping disruptions caused by adverse weather conditions. In contr

carrier USA: Carrier Global Corporation reported its financial results for the first quarter of 2026, highlighting strong momentum in key segments. Data center orders surged by more than 500%, with the current backlog fully covering anticipated data center sales for 2026. Overall company orders rose by 11%, driven in part by a 35% increase in the Commercial HVAC segment. "We started the year with better-than-expected sales performance across the portfolio," said Carrier Chair