TA Global Partners With Gaggenau, Gessi and Laufen for CloutHaus Residences in Kuala Lumpur Malaysia: TA Global has signed memoranda of understanding (MoUs) with Gaggenau, Gessi, and Laufen to supply kitchen appliances, fittings, and sanitary ware for CloutHaus Residences, the residential component of its USD 708 million (RM3 billion) mixed-use development in Kuala Lumpur City Centre (KLCC). The agreements were formalised on 21 July at the CloutHaus Sales Gallery, with select

BDR Thermea Appoints Interim Leadership Team for German Operations NETHERLANDS: BDR Thermea has announced a temporary leadership change for its German business following the departure of Managing Director Erik Feijen, whom the company thanked for his contributions during a challenging period of transformation. Until a permanent successor is appointed, Aliëtte van der Wal-van Dijk, Chief Commercial Officer, and Luigi La Morgia, Chief Technology and Operations Officer, will joi

Hitachi Opens BuilMirai Experience Center in India to Showcase AI-Powered Smart Building Solutions INDIA: Hitachi, in collaboration with Hitachi Lift India and GlobalLogic, has inaugurated the BuilMirai Experience Center at GlobalLogic's headquarters in Noida, India. The facility serves as an innovation and customer engagement hub for BuilMirai, Hitachi's digital building management platform built around its HMAX for Buildings portfolio. By combining operational technology, a

Thailand Air Conditioner Exports to Europe Surge as Heatwave Boosts Demand THAILAND: Thailand's air conditioner exports to Europe are accelerating as prolonged heatwaves and rising cooling demand drive orders. According to the Trade Policy and Strategy Office (TPSO), Thailand exported US$149 million worth of air conditioners in May 2026, up 40.7% year-on-year, while exports reached US$784 million during January–May, an 18.9% increase. Reversible air conditioners with heat pum

Carrier Acquires 75F to Advance AI-Driven Intelligent Building Solutions UNITED STATES: Carrier Global has acquired 75F, a U.S.-based provider of cloud-native, AI-enabled building automation systems, strengthening its intelligent building portfolio. The acquisition enhances Carrier's capabilities across commercial buildings, data centers and retrofit projects by integrating 75F's wireless sensors, AI-powered controls and cloud platform with Carrier's WebCTRL®, Abound™ analyti

SPX Technologies Acquires Neptronic for US$430 Million to Expand HVAC Solutions Portfolio CANADA: SPX Technologies has completed the acquisition of Montreal-based Neptronic Inc. for approximately US$430 million in cash, strengthening its HVAC segment. Neptronic, which employs around 300 people, specializes in intelligent HVAC controls, electric duct heaters and humidification systems serving data centers, healthcare facilities and other commercial applications. The acquisitio

China's Fiscal Revenue Grows 4.7% in H1 2026 Despite Continued Property Market Weakness CHINA: China's fiscal revenue increased 4.7% year-on-year to approximately US$1.8 trillion in the first half of 2026, accelerating from 4.0% growth in January–May. Tax revenue rose 5.3%, while non-tax revenue increased 2.3%. Fiscal expenditure climbed 1.5% to around US$2.11 trillion as Beijing pledged continued support for investment and consumption through proactive fiscal policies. Howev

New Zealand Inflation Climbs to Two-and-a-Half-Year High in Q2 New Zealand: New Zealand's annual inflation rose to 4.1% in the second quarter, its highest level in two and a half years, exceeding both market expectations of 4.0% and the Reserve Bank of New Zealand's forecast of 3.9%. Quarterly consumer prices increased by 1.5%, compared with economists' expectations of 1.4%. Following the data release, expectations strengthened that the central bank could raise its official c

South Korea's Economic Growth Slows in Second Quarter South Korea: South Korea's economy is expected to have expanded by 0.4% in the second quarter of 2026, according to a Reuters poll of economists, slowing from the 1.8% growth recorded in the first quarter. On an annual basis, gross domestic product (GDP) is forecast to grow by 3.5%, compared with 3.8% in the previous quarter. Economists attributed the slower quarterly growth to weak domestic demand and consumer spending, d

UK Home Air Conditioner Demand Leads to Installation Delays UK: Demand for residential air conditioning systems has increased following two summer heatwaves, resulting in extended installation waiting times and supply shortages across parts of the UK. HVAC businesses in Somerset reported receiving a sharp rise in enquiries, with some installers fully booked until September or October due to limited product availability. Several companies stated that demand has exceeded expect

BDR Thermea Completes Acquisition of G.I. Holding Netherlands / Italy: BDR Thermea has completed the acquisition of 100% of Italy-based G.I. Holding, following its initial purchase of a 25% minority stake in the company in 2023. The acquisition expands BDR Thermea's presence in the commercial and industrial HVAC market and supports its Strategy 2030, which focuses on integrated heating and cooling solutions, connected technologies and after-sales services. G.I. Holding manufa

Panasonic Outlines Growth Strategy for HVAC & Cold Chain Business Japan: Panasonic Group has outlined its growth strategy through 2032, identifying its newly established Panasonic HVAC & Cold Chain Company (HVAC & CC) as a key business supporting the expansion of its Solutions segment. Formed in April 2026 through the merger of Panasonic's Heating and Ventilation A/C Company and Cold Chain Solutions Company, HVAC & CC generates annual sales of approximately JPY 1,300 billion