Egypt’s development of new cities is creating opportunities for district cooling, bringing centralised air-conditioning infrastructure into the planning of major commercial and urban developments. The New Administrative Capital is a prominent example. Its district cooling plant has a reported initial capacity of 64,000 refrigeration tons, with plans to expand to 300,000 tons over five years, according to the Administrative Capital for Urban Development (ACUD), the company res

Indian Ceramic Manufacturers Explore Business Opportunities in Argentina India: A delegation of Indian ceramic manufacturers and exporters participated in a business event in Buenos Aires on 20 October 2026 to explore trade and cooperation opportunities with Argentine companies. The event brought together Indian manufacturers, importers, distributors and local business representatives. Activities included business-to-business meetings and product presentations covering porcel

Kajaria Ceramics Announces Capacity Expansions and Interim Dividend India: Kajaria Ceramics Limited's Board of Directors approved the company's unaudited financial results for the quarter and half-year ended 30 September 2026 at a meeting concluded on 24 October 2026. The board also declared an interim dividend of INR 12 per equity share (approximately USD 0.14), with 29 October 2026 set as the record date for determining shareholder eligibility. Dividend payments are expecte

Megius Completes Acquisition of Albatros Brand Italy: Italian company Megius has completed its acquisition of the Albatros brand, which operates in whirlpool baths, mini-pools and wellness systems. Megius operates in the shower, sauna and hammam segments. The transaction forms part of Megius's development strategy and combines its shower product portfolio with Albatros's activities in home wellness and hospitality. The integration is intended to expand the range of bathroom a

A. O. Smith Reports Mixed Third-Quarter Performance Amid Weak Water Heater Demand USA: A. O. Smith Corporation reported sales of US$940.5 million in Q3 2026, remaining largely unchanged year-on-year, while net earnings declined to US$126.3 million from US$132 million. North American sales increased by 3%, supported by boiler demand, pricing adjustments and the Leonard Valve acquisition, although lower residential water heater volumes weighed on performance. Sales in the Rest

TOTO Reports Strong First-Half Profit Growth but Lowers Full-Year Sales Forecast JAPAN: TOTO reported a significant improvement in profitability during the first half of fiscal 2026, with attributable profit more than doubling to JPY 21.3 billion (~US$142 million) from JPY 8.79 billion (~US$58.6 million) a year earlier. Net sales for the six months ended September 30 increased to JPY 364.7 billion (~US$2.43 billion), compared with JPY 349.4 billion (~US$2.33 billion) in the p

Kenya Invites Bids for 10-Year Sanitary Ware Supply Contract Under Affordable Housing Programme KENYA: Kenya’s State Department for Housing has invited companies to tender for the supply, installation and maintenance of sanitary ware across affordable housing projects nationwide. The proposed framework agreement will run for up to 10 years, with three to five suppliers expected to be selected. The contract covers toilet bowls, washbasins and other bathroom equipment, with app

Portugal Plans €300 Million Financing Initiative to Boost Housing Construction PORTUGAL: The Portuguese Government is negotiating a financing arrangement with the European Investment Bank (EIB) to support municipalities in preparing land for residential construction. An initial €300 million (~US$336 million) credit facility has been agreed to finance essential infrastructure, including roads, water supply and drainage systems. The initiative aims to address land shortages and

Kenya Revises Excise Duty Structure to Reduce Imported Ceramic Tile Costs KENYA: Kenya has introduced changes to its excise duty regime under the Tax Laws (Amendment) Act, 2026, replacing weight-based taxation on imported ceramic tiles with a surface-area-based charge. Effective October 14, the revised duty is set at KSh 400 (~US$3.10) per sq m or 5% of the excisable value, whichever is higher. The legislation also reduces excise duty on imported ceramic sanitary ware, includ

Blue Star Reports Strong Quarterly Profit Growth on Robust Air Conditioner Demand INDIA: Indian air conditioning manufacturer Blue Star reported a 25% year-on-year increase in consolidated net profit to ₹1.24 billion (~US$13 million) in Q2 FY2027, supported by extended summer conditions and stronger room AC demand. Revenue from operations rose 21% to ₹29.31 billion (~US$308 million). The unitary products business recorded 29.4% growth, while the electro-mechanical projects an

Croatia’s Construction Costs Rise Twice as Fast as EU Average CROATIA: Construction costs in Croatia have increased by 64% since 2020, significantly outpacing the 31% rise across the EU and 44% in Germany. Despite remaining relatively affordable, residential construction costs have reached approximately €2,400 (US$2,686) per sq m. Rising labour expenses, dependence on foreign workers, higher commercial margins and lengthy administrative procedures are contributing to the incr

Samsung Electronics Announces Third Quarter 2026 Results SOUTH KOREA: Samsung Electronics reported record consolidated revenue of KRW 195.3 trillion (~US$145.8 billion) in Q3 2026, up 14% quarter-on-quarter, while operating profit reached KRW 107.4 trillion (~US$80.2 billion), marking a historic milestone for the company. Growth was primarily driven by strong semiconductor demand, particularly memory products supporting artificial intelligence (AI) infrastructure. The Device

Viessmann Appoints Conrad Wiedeler to Lead German Sales and Service Germany: Viessmann Climate Solutions has appointed Dr Conrad Wiedeler to take responsibility for its sales and service operations in Germany, effective immediately. The appointment follows the planned departure of Dr Frank Voßloh, Managing Director of Viessmann Deutschland GmbH and a member of the Carrier Climate Solutions Europe leadership team, on 31 October 2026. Voßloh has held leadership positions at Vie

HomePro Reports Stable Third-Quarter Performance Thailand: Thai DIY chain HomePro reported stable third-quarter performance, with retail turnover rising 0.66% year-on-year to THB 15.726 billion (US$482 million). However, sales for January–September 2026 declined 1.76% to THB 48.688 billion (US$1.49 billion) compared with the first three quarters of 2025. The company attributed the third-quarter increase to new stores opened since Q4 2025. As of the reporting date, HomePro ope

California Tribes Receive US$60.5 Million for Housing and Climate Projects US: California tribes will receive US$60.5 million in state grants for housing and climate projects, with US$52 million awarded to 19 tribal recipients through the Tribal Pre-Development Housing Fund to support projects expected to lead to 900 new homes. The California Strategic Growth Council approved the awards on October 28 for 40 projects representing 36 tribes, including nearly US$3 million for th

Asian Granito India Elevates Parthiv Dave to Chief Operating Officer India: Asian Granito India Ltd. has elevated Parthiv Dave to Chief Operating Officer (COO), expanding his responsibilities after nearly three years as COO – AGL Bathware. Dave brings more than 35 years of experience across operations, sales and marketing, strategic management and organisational leadership, including nearly eight years as Managing Director of SIAMP India and previous leadership roles at CERA

EHPA Calls for Heat Pumps to be Prioritised in Horizon Europe Europe: The European Heat Pump Association (EHPA) is calling for heat pumps to be included as a dedicated European Partnership and priority area in the EU’s €175 billion Horizon Europe research and innovation programme for 2028–2034. The association says long-term, predictable funding would support research into efficiency, new refrigerants, lower costs, grid integration and high-temperature industrial applications

Greece Adds 6,000 Households to Water Heater Replacement Programme Greece: Greece’s Ministry of Environment and Energy has approved an additional 6,000 households under its “I Change Water Heater” programme, taking the total number of accepted applications to more than 146,000. The latest approvals are supported by additional public funding exceeding EUR 21.5 million to help households replace old water heating systems with more energy-efficient equipment. The programme aims

Bosch to Launch Premium Air Conditioners in India, Plans EUR 80 Million Investment India: Bosch Home Comfort Group plans to launch Bosch-branded air conditioners in India in 2027, targeting a strong double-digit market share within two years and aiming to become one of the country’s top five cooling and comfort brands. Following its acquisition of Johnson Controls-Hitachi’s global residential and light-commercial AC business in August 2025, the company will position Bosch in

Illinois Allocates USD 156 Million To Affordable Housing USA: Illinois Governor JB Pritzker and the Illinois Housing Development Authority (IHDA) have announced an investment of USD 156 million (approximately EUR 134 million) under the Building Up Illinois Developments (BUILD) plan. The funding will support programmes aimed at increasing housing supply and improving access to home ownership, including forgivable assistance for down payments and closing costs, as well as low-i

Stiebel Eltron To Increase Stake In Ochsner To 50% Austria / Germany: Stiebel Eltron International plans to increase its shareholding in Austrian heat pump manufacturer Ochsner from 35% to 50%, following a notification submitted to the Austrian Federal Competition Authority on 16 October 2026. The two family-owned companies have maintained a partnership in the heat pump sector since 2013, including a joint venture focused on large-scale heat pumps. The proposed increase in ow

Johnson Controls Reports 10% Sales Growth in Q4 2026 Ireland: Johnson Controls reported a 10% year-on-year increase in sales to USD 7.1 billion (EUR 6.1 billion) in the fourth quarter of fiscal 2026, while organic sales rose by 12%. Net income from continuing operations reached USD 967 million (EUR 831 million), compared with USD 267 million (EUR 229 million) in the corresponding quarter of the previous year. Quarterly orders increased by 44% organically, while the company’s

Carrier Reports 12% Revenue Growth in Third Quarter USA: Carrier Global Corporation reported third-quarter 2026 net sales of USD 6.26 billion (EUR 5.38 billion), an increase of 12% year on year, while organic sales grew by 15%. Total orders increased by approximately 35%, with Commercial HVAC orders rising by around 60% and data centre orders by approximately 300%. The company’s backlog exceeded USD 8.5 billion (EUR 7.30 billion), representing a 60% increase compared with the

UK Budget Sets Out Measures for Housing and High Streets UK: The UK Budget has introduced measures covering housing, business rates, planning and energy costs. These include a new ISA product for first-time buyers, an increase in the Small Business Rate Relief threshold from GBP 12,000 (EUR 13,800) to GBP 18,000 (EUR 20,600), and a freeze on business rates for leisure, retail and hospitality businesses. The Government has also published its Hope on the High Street strategy to