Mitsubishi Electric Calls for UK Heat Pump Reforms UK: Mitsubishi Electric new white paper, Unlocking High Temperature Heat Pump Adoption, highlights how high-temperature R290 heat pumps can support the UK’s target of 450,000 heat pump installations annually by 2030 and its legally binding 2050 net zero goal by reducing retrofit costs, complexity and installation disruption. The report notes that buildings account for around 21% of the country’s greenhouse gas emissions and t

Haier Pakistan Achieves Record AC Sales in H1 2026 with Over 45% Market Share Pakistan: Haier Pakistan Achieves Record AC Sales in H1 2026 with Over 45% Market Share: Haier Pakistan reported that its H1 2026 air conditioner sales exceeded its full-year 2025 total, reaching an all-time high while maintaining a market share of over 45% and retaining the industry's No. 1 position for 18 consecutive years. Growth was driven by coordinated online, offline and service initiatives,

Frontline Bathrooms Reports 52% Growth in New Trade Accounts Following AQUA Brand Investment UK: Frontline Bathrooms reported a 52% increase in new trade accounts, with sales from those accounts rising 28%, driven by continued investment in its AQUA bathroom brand through a refreshed brand position, new products, an updated brochure and enhanced trade support. The company also recorded a 15% year-on-year sales increase, equivalent to approximately EUR 578,000 (USD 680,000), i

Magnet to Close 15 Underperforming Stores Under Restructuring Plan UK: Magnet Group will close 15 underperforming stores across the UK as part of a Company Voluntary Arrangement (CVA) aimed at addressing unsustainable property costs and strengthening the company’s long-term financial position. While the retailer has not disclosed a closure timeline or the number of jobs affected, it stated that employees will be offered support and alternative roles where possible, and any im

LG Electronics Secures 1,500 Heat Pump Orders to Expand Presence in Europe EUROPE: LG Electronics has strengthened its position in Europe's growing heat pump market by securing orders to supply heating and cooling solutions for approximately 1,500 residential units in Spain and Serbia. The company will install its high-efficiency Multi V i and Multi V S heat pump systems in large housing developments near Madrid and Belgrade, offering integrated heating, cooling, and hot wate

Oil Dexco Strengthens Position in Brazil Building Materials Market with Multi-Brand Strategy BRAZIL: Brazil-based Dexco S.A. continues to strengthen its presence in the construction and home improvement sector through its diversified portfolio of wood panels, sanitary ware, and ceramic tiles. The company serves both residential and commercial markets, leveraging a multi-brand strategy to cater to different consumer segments across Brazil and Latin America. Supported by manage

Samsung Electronics Forecasts Strong Second-Quarter 2026 Performance SOUTH KOREA: Samsung Electronics has projected robust financial results for the second quarter of 2026, supported by continued business momentum across its operations. The company expects consolidated sales of approximately US$112.1 billion and operating profit of around US$58.6 billion, based on preliminary earnings guidance. Sales are estimated to range between US$111.4 billion and US$112.7 billion, while

United Kingdom Heatwaves Trigger Surge in Residential Air Conditioning Installations UNITED KINGDOM: Demand for residential air conditioning systems in the UK has surged following recent heatwaves, with installation requests increasing by 320% year-on-year, according to MyBuilder.com. The spike reflects growing consumer demand for permanent cooling solutions as extreme summer temperatures expose the limitations of Britain's housing stock, which was primarily designed for cold

Germany to Reduce Heat Pump Subsidies by US$2.4 Billion by 2030 GERMANY: Germany plans to scale back financial support for low-carbon heat pumps, reducing subsidy spending by approximately US$2.4 billion by the end of the decade as part of broader efforts to ease budget pressures while increasing investment in defence and security. According to a draft proposal from the Energy Ministry, funding for renewable heating systems will be gradually reduced by lowering the maximum el

Philippine Home Improvement Retailers Begin 2026 on a Strong Note PHILIPPINE: The Philippine home improvement retail sector delivered a solid performance in the first quarter of 2026, supported by stronger store sales and continued network expansion. Market leader Wilcon Depot reported net sales of approximately US$164 million, representing a 9.1% year-on-year increase. Growth was driven by a 4.7% rise in same-store sales and a 4.0% contribution from newly opened stores. Wilc

Masco Strengthens Home Improvement Business Amid Evolving North American Housing Market UNITED STATES: Masco Corporation continues to reinforce its position in the North American home improvement market by focusing on branded building products that cater to both new construction and renovation demand. The company's portfolio, which includes bathroom and kitchen fixtures, plumbing products, and decorative hardware, benefits from ongoing repair and remodeling activity, helping

ShinFlow Launches AI-Powered Smart Air Conditioners in Southeast Asia VIETNAM: ShinFlow, a premium air conditioning brand backed by Japanese research and development and manufactured in Thailand, has officially launched its global expansion with its debut in Southeast Asia. The company introduced its I-Series Smart Inverter Air Conditioners, featuring AI-driven technologies such as AI ECO mode with energy savings of up to 40%, human-sensing airflow, voice and Wi-Fi control, U

Thai inflation past peak THAILAND: Thailand inflation appears to have passed its peak as easing global oil prices and lower production costs moderated headline inflation in June 2026. However, elevated prices for ready-made meals and public transport continue to keep household living costs high, with core inflation rising despite softer energy prices. Economists believe inflationary pressures will remain within the government's 1.5–2.5% target range, supported by weaker domes

India Notifies Customs Rules Ahead of Free Trade Agreement Implementation India/UK: India has notified the customs rules governing the determination of the country of origin for goods traded under the India-UK Comprehensive Economic and Trade Agreement (CETA), ahead of the agreement's implementation on 15 July. The new rules specify the eligibility criteria for preferential tariff treatment and the documentation required to claim reduced or zero customs duties. Products must

Appeals Court Upholds Emissions Rule for Heating Appliances in Southern California USA: A federal appeals court has upheld a regulation introduced by the South Coast Air Quality Management District that restricts the manufacture, sale and installation of certain nitrogen oxide-emitting appliances in four counties of Southern California. In a 2–1 decision, the Ninth U.S. Circuit Court of Appeals ruled that the federal Energy Policy and Conservation Act does not prevent states

Samsung Wind-Free Air Conditioner Surpasses 20 Million Units in Sales South Korea/Global: Samsung Electronics has announced that cumulative global sales of its Wind-Free Air Conditioner have exceeded 20 million units as of June 2026, marking the product's tenth anniversary since its launch in 2016. The company said it will continue expanding its presence in the business-to-business (B2B) HVAC market across Europe, Asia, and Central and South America. In Europe, Samsung has su

South Korea: LG to Invest KRW 9.4 Trillion in AI Infrastructure and Advanced Manufacturing South Korea: LG has announced plans to invest KRW 9.4 trillion (USD 6.15 billion; EUR 5.25 billion) in the Yeongnam region by 2030 to expand artificial intelligence (AI) infrastructure and advanced manufacturing capabilities. The investment will focus on AI data centres, optical technologies, AI semiconductor core substrates and next-generation display technologies, with projects led by

HomePro Expands Omnichannel Strategy to Support Home Improvement Retail Thailand: HomePro, operated by Home Product Center PCL, continues to strengthen its position in Thailand's home improvement retail market through its nationwide network of large-format stores offering construction materials, home furnishings, kitchen and bathroom products, appliances and related services. The company has expanded its presence through new store openings, refurbishment of existing outlets a

Ferro Strengthens Focus on Bathroom and Plumbing Solutions Across Central and Eastern Europe Poland: Ferro S.A., a manufacturer and distributor of bathroom and plumbing fittings listed on the Warsaw Stock Exchange, continues to expand its presence across Central and Eastern Europe through a combination of manufacturing and distribution activities. The company supplies faucets, mixers, valves and installation components for residential and commercial buildings, serving retail

Indonesia Approves US$333.5 Million for Nusantara Development in 2027 INDONESIA: Indonesia's House of Representatives has approved US$333.5 million in funding for the development of the new capital, Nusantara, in 2027, reaffirming the government's commitment to the long-term relocation project. Although the allocation is below the requested amount, it will support ongoing infrastructure works, including the construction of residential towers for the legislative and judicial i

US Construction Employment Increases by 11,000 Jobs in June USA: Construction employment in the United States increased by 11,000 jobs in June, according to data released by the Bureau of Labor Statistics on 2 July. The construction unemployment rate stood at 4.7%, while the overall unemployment rate across all industries declined to 4.2%, remaining 0.1 percentage points higher than a year earlier. Over the past 12 months, construction employment increased by 64,000 jobs, rep

US House Passes Bipartisan ROAD to Housing Act USA: The US House of Representatives passed the 21st Century Renewing Opportunity in the American Dream (ROAD) to Housing Act (H.R. 6644) on 23 June by a vote of 358 to 32. The legislation aims to increase the supply of affordable housing through measures covering land-use and zoning reforms, housing repairs, multifamily financing, environmental review processes and community banking. It also includes provisions supporting manufa

Canada and the Philippines Target 2026 Free Trade Agreement Canada and the Philippines have agreed to conclude negotiations on a bilateral free trade agreement by the end of 2026 as part of a broader strategic partnership covering trade, defence, energy, labour mobility and tourism. The agreement was announced by Canadian Prime Minister Mark Carney following talks with Philippine President Ferdinand Marcos Jr. in Vancouver during the Philippine leader’s first official visit t

IAPMO Expands Global Compliance Services with In Compliance Acquisition Germany: The International Association of Plumbing and Mechanical Officials (IAPMO) has expanded its international product compliance capabilities through the acquisition of Germany-based consulting firm In Compliance. The company specialises in regulatory requirements for plumbing products and systems, particularly those used in drinking water applications. The acquisition strengthens IAPMO's ability to