GDP VIETNAM: Vietnam aims to achieve an average annual economic growth rate of at least 10% during the 2026–2030 period, according to a document released by the country’s ruling Communist Party. Published on the Party’s official website ahead of its upcoming five-year congress, the plan sets an ambitious vision for the nation’s next development phase. It also outlines a goal to raise Vietnam’s GDP per capita to US$8,500 by 2030, nearly doubling the current target of US$4,700–

Indian Flag INDIA: The International Monetary Fund (IMF) revised India’s economic growth forecast for FY26 upward to 6.6%, from its earlier estimate of 6.4%, citing robust first-quarter performance that more than offset the effects of higher U.S. tariffs on Indian exports. However, in its latest World Economic Outlook (WEO)  report, the IMF trimmed India’s FY27 growth projection to 6.2%, down from the 6.4% forecast released in July. Despite the upward revision, India’s FY26 g

Air Conditioner USA: The Air Conditioning Contractors of America Educational Institute (ACCA-EI) Standards Task Team (STT) has announced a public review period, approved by the American National Standards Institute (ANSI), for ACCA 5 QI – HVAC Quality Installation Specification to be recognized as a new American National Standard. The 45-day public review began on October 10, with comments accepted until November 24, 2025. The proposed standard remains identical to ANSI/ACCA

Saudi Arabia Flag SAUDIA ARABIA: Most Gulf Cooperation Council (GCC) economies are expected to post steady growth in 2025 and 2026, supported by rising oil production, according to a Reuters poll of economists who have upgraded their outlook for Saudi Arabia, the region’s largest economy. Following a series of production cuts since early 2023, the Organization of the Petroleum Exporting Countries and its allies (OPEC+) are now reversing course, raising their collective output

News UZBEKISTAN: Uzbekistan is set to rank among the five fastest-growing economies in the broader Europe and Central Asia region in 2025, according to the World Bank’s Europe and Central Asia Economic Update, Fall 2025 . The report forecasts Uzbekistan’s GDP to expand by approximately 6.2%, significantly outpacing the regional average amid a general slowdown across emerging European and Central Asian markets. Overall, regional GDP growth is projected to ease to around 2.4% i

Heat Pump AUSTRIA: The Austrian Institute of Technology (AIT) has officially inaugurated what it describes as Austria’s most advanced heat pump laboratory. Completed this month after a year of construction and a US$3.4 million investment, the facility features test benches for systems with heating capacities up to 100 kW, primarily catering to the expanding commercial and large-scale building sectors. The laboratory focuses on air-source heat pumps across all relevant refrige

Heat Network SOUTH KOREA: The city gas and district heating sectors are currently on high alert following growing interest from Minister Kim Sung-whan of the Ministry of Climate, Energy and Environment in heat pumps. This eco-friendly technology leverages external heat to provide heating or hot water, reducing reliance on fossil fuels. Widespread adoption of heat pumps could fundamentally transform the existing systems, which have been based on city gas and district heating f

Construction AUSTRALIA: Australia’s construction sector closed the 2024–25 financial year on a subdued note, with the latest ABS Building Activity data for the June 2025 quarter revealing a decline in both dwelling commencements and completions, highlighting growing concerns that progress under the National Housing Accord is already falling behind schedule. According to the Australian Bureau of Statistics (ABS), dwelling commencements dropped by 4.4% to 45,156 during the June

Air conditioner USA: Rocket Group, a leading home services network and consulting firm, has announced a strategic investment in Oklahoma-based Wolf’s Heating & Air Conditioning. This acquisition strengthens Rocket Group’s footprint in the Southwest and enhances its capacity to provide comprehensive heating and cooling solutions to both residential and commercial clients. Wolf’s Heating & Air Conditioning will benefit from Rocket Group’s proven growth strategies, including reb

Bathroom GERMANY: Shower enclosure manufacturer HSK Duschkabinenbau from Olsberg is reaffirming Germany’s role as a key production hub. The family-owned company is investing €4.5 million (US$ 4.8 million) cutting-edge glass production and an additional €500,000 (US$ 560000) in sustainable water treatment, expanding its capacities while underscoring its commitment to quality “Made in Germany.” For over 30 years, HSK has been synonymous with high-quality shower cubicles, glass

Bathroom distributor UK: One of the UK’s largest independent wholesale distributors of kitchen and bathroom products is going into liquidation. Waterline, based on North Crawley Road in Newport Pagnell, has made over 100 employees redundant as administrators oversee an “orderly wind down” of operations. Alex Cadwallader and Dane O’Hara from Leonard Curtis were appointed Joint Administrators earlier this month. The liquidation follows unsuccessful efforts by Waterline’s board

modular kitchen ITALY: SCAVOLINI, Italy’s renowned authority in kitchen, bathroom, and home cabinetry, has officially opened its newest showroom in Rockwell, Makati, relocating from its previous site at The Peninsula Manila. The new space offers a curated, elevated environment that reflects Scavolini’s expertise in home design, positioning it as a premier destination for inspiration. Designed by Ar. John Sac and Ar. Pauline Sac of 50/53 Architects, the showroom showcases how