India AC Makers Warn of Production Strain Amid LPG, Petrochemical Shortages INDIA: India’s air conditioner manufacturers are flagging possible production pressures as shortages of LPG and petrochemicals, linked to the ongoing West Asia conflict, begin to surface. The tightening supply is driving up input costs just ahead of the peak summer season, with prices already increasing by 5–15%. Given the industry’s heavy dependence on imports routed through the Strait of Hormuz, any

Morbi Ceramic Industry Comes to a Standstill Amid Gas Supply Disruption INDIA: The closure of the Strait of Hormuz has disrupted gas supplies to Morbi, forcing a large portion of the region’s ceramic industry to halt production. While several units had already ceased operations due to the shortage, the Morbi Ceramic Manufacturers Association has now decided to extend the shutdown to the remaining operational units as well. Morbi is one of the world’s top three ceramic cluster

Geberit Unveils Experience Center in Milan, Reinforcing Strategic Focus on Italy ITALY: Geberit has unveiled a preview of its new “Geberit Experience Center,” a multifunctional space in Milan designed as a hub for interaction and collaboration. As stated by the company, the center aims to serve as a platform for engagement, bringing together designers, businesses, architects, installers, end consumers, and institutions to foster continuous dialogue with both the industry and

Carrier Ventures Invests in Heat Geek to Accelerate Heat Pump Adoption in Europe UK: Carrier Global Corporation, a global provider of intelligent climate and energy solutions, has announced that its venture arm, Carrier Ventures, has made a strategic investment in Heat Geek, a UK-based company focused on accelerating residential heat pump adoption across Europe. Heat Geek runs a digital platform that connects homeowners with certified, highly trained local installers. Using a

Building Construction Investment Rises in December Across Residential and Non-Residential Sectors CANADA: Building construction investment increased by 1.9% to $23.7 billion in December 2025, driven by growth in both residential and non-residential sectors. Residential investment rose 2.4% to $16.8 billion, supported by gains in multi-unit housing (up 2.6%) and single-family homes (up 2.3%). Ontario and Alberta led growth in multi-unit projects, while Ontario and British Colu

Eurovent Issues cPCR Guidance to Standardize EPDs for HVAC Equipment EUROPE: Eurovent has released a new Recommendation providing guidance on complementary Product Category Rules (cPCR) for heat pump and air-conditioning equipment. The aim is to support the creation of consistent Environmental Product Declarations (EPDs) and promote harmonised life-cycle assessment practices, particularly as sustainability requirements tighten under evolving European regulations and building

Eneco and Rabobank Launch GroenGebouw Leasing to Boost Sustainable Building Investments EUROPE: Eneco and Rabobank have joined forces to introduce Eneco GroenGebouw™, a leasing solution designed to help businesses adopt sustainable energy technologies without significant upfront investment. Under this model, Rabobank provides financing for systems such as solar panels, heat pumps, EV charging infrastructure, and battery storage, while Eneco delivers these solutions through a

Hive Partners with Daikin to Expand Smart Heat Pump Compatibility in UK UK: Hive has announced a new collaboration with Daikin under its “Works With Hive” programme, expanding compatibility for smart controls with air source heat pumps and enhancing support for the UK’s growing low-carbon heating market. Daikin, a leading heat pump manufacturer in the UK, plays a key role in supplying low-carbon heating solutions for residential and commercial applications. With this partners

SFA Saniflo Expands into Larger PREMISES and Opens New Training Centre UNITED KINGDOM: SFA Saniflo has announced a relocation to significantly larger facilities at the Watford Logistics Hub, providing an additional 10,000 sq ft of warehouse space to boost stock capacity and service delivery across the UK. The move, scheduled for early May 2026, also includes the launch of a dedicated on‑site training centre to deliver practical product training on installation, maintenance an

China’s Consumer Inflation Hits Three-Year HIGH as Producer Deflation Eases CHINA: China’s consumer price index (CPI) surged 1.3% year‑on‑year in February 2026, marking the largest increase in over three years, driven by strong spending during the extended Lunar New Year holiday. Core CPI, excluding food and energy, rose 1.8%, matching levels last seen in March 2019. Meanwhile, the producer price index (PPI) fell 0.9%, slower than expected, signalling easing deflationary pres

Oman Secures US$1.9bn in Global REAL ESTATE Deals at MIPIM 2026 OMAN: Oman concluded its participation at the MIPIM 2026 property event in Cannes by signing 17 international real estate investment and development agreements worth over US$1.9 billion, signalling strong global investor confidence in the Sultanate’s urban transformation plans. Key accords include a memorandum of understanding with Türkiye’s Artas Holding for the Al Khuwair Downtown project and collaborations in

Middle East Conflict with Iran Fuels Energy Shortages and Inflationary Strains Across Asia MIDDLE EAST: The conflict involving the U.S., Israel, and Iran is causing widespread economic disruptions across Asia, with the Strait of Hormuz effectively closed, halting around 80% of regional oil imports. Countries including India, Thailand, Bangladesh, and the Philippines have implemented fuel rationing, reduced working hours, and caps on energy prices to mitigate surging costs. Th

Malaysia’s Fuel Subsidy Costs Surge Amid Iran Conflict MALAYSIA: Malaysia is set to spend approximately US$812.8 million per month to maintain subsidised petrol and diesel prices, as the ongoing US‑Israeli conflict with Iran disrupts global oil and gas shipments. The Strait of Hormuz closure has pushed Brent crude prices as high as US$119 per barrel, forcing governments across Southeast Asia to implement measures to protect consumers. Malaysia’s finance authorities said the s

New US Tariffs Leave CUSMA Exemptions Unchanged USA: The US has introduced new global tariffs on imports, but goods qualifying under the Canada‑United States‑Mexico Agreement (CUSMA) will continue to be exempt, according to a statement from the White House. The decision follows a U.S. Supreme Court ruling that struck down earlier emergency tariff measures, prompting the government to adopt tariffs under a different legal authority. Despite the broader tariff regime taking eff

US Housing Shortage Deepens as Household Growth Outpaces Construction USA: New housing data analysis indicates that the US continues to face a widening housing supply gap. According to recent estimates, the shortage reached around 4.03 million homes in 2025, rising from 3.8 million in 2024. The gap has expanded as household formation increased more quickly than new housing construction. In 2025, about 1.41 million new households were formed, while housing starts totalled roug

Homebuilder Sales Ease in February Despite Stronger Buyer Traffic USA: A survey of U.S. homebuilders shows that sales softened in February 2026 after a strong start to the year, although buyer traffic improved to its highest level in 12 months. The share of builders reporting year-on-year order growth fell from 39% in January to 32%, while more firms noted stable or improving conditions in terms of enquiries. However, converting interest into actual sales remains difficult du

Building Permit Values Increase in Canada in December Driven by Residential and Institutional Growth CANADA: In Canada, the total value of building permits rose by 6.8% to $12.8 billion in December 2025, according to Statistics Canada. Residential construction intentions increased by $533.5 million to $8.0 billion, mainly driven by a $653.2 million rise in multi-unit projects, although single-family permits declined by $119.7 million. Growth in multi-unit housing was stronges

Existing Home Sales Edge Lower in February Across Canada CANADA: Existing home sales declined slightly in February 2026, falling by 1.3% month on month, according to the Canadian Real Estate Association. On a year-on-year basis, actual sales were down 8.1% compared with February 2025. Market activity remained subdued, particularly across the Ontario corridor between Windsor and Toronto, where conditions were notably slow. Overall, housing demand continued to weaken, reflectin

Viessmann Climate Solutions and Nassauische Heimstätte Partner to Expand Heat Pump Adoption in German Rental Housing Germany: Viessmann Climate Solutions and Nassauische Heimstätte Group (NHW) have expanded their collaboration to support the transformation of heat supply in residential buildings across Hesse, Germany, through a cooperation agreement between Viessmann Climate Solutions and NHW’s subsidiary Medien-Energie-Technik GmbH (MET). The partnership aims to gradually re

Japan’s Real Wages Rise 1.4% in January as Base Salaries Record Fastest Growth in 33 Years Japan: Japan reported a 1.4% year-on-year increase in real wages in January, marking the first rise in 13 months, as inflation cooled and nominal wages grew 3.0% to about USD 1,911 per month. Base salaries increased 3.0%, the fastest growth since October 1992, while overtime pay rose 3.3% and special payments, mainly bonuses, climbed 3.8%. The consumer inflation rate used to calculate r

DPIIT and Voltas Limited Sign MoU to Boost Industry–Start-up Collaboration in Cooling and Smart Appliance Ecosystem India: Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry (India), has signed a Memorandum of Understanding (MoU) with Voltas Limited, a Tata Group enterprise, to strengthen industry–start-up collaboration in the cooling and smart appliance ecosystem. Under the initiative, DPIIT’s Startup India initiative

China Sets 2026 GDP Growth Target at 4.5%–5% Amid Economic Pressures China: China has set its 2026 GDP growth target at 4.5%–5%, the lowest target since the early 1990s, according to the government work report released during the annual meeting of the National People’s Congress. The government maintained its budget deficit target at around 4% of GDP, first set in 2025 and the highest level since 2010, while keeping the consumer inflation target at around 2%. Authorities also

Large-Scale Heat Pump Projects in Austria, Finland, and Germany Accelerate Decarbonisation of Industry and District Heating Austria/Finland/Germany: Large-scale heat pump projects in Austria, Finland, and Germany are advancing the energy transition by decarbonising industrial processes and district heating networks. Companies including Turboden, Everllence (formerly MAN Energy Solutions), and MVV Energie are deploying large heat pump technologies across multiple projects. In

Strait of Hormuz Disruption Leaves 1,500 Containers of Indian Ceramic Exports Stranded India: The blocking of the Strait of Hormuz has left around 1,500 containers of ceramic exports from India stranded at ports or in transit, increasing the risk of exporters facing shipping surcharges, demurrage charges, and war risk surcharges from shipping companies. The containers, mainly carrying wall tiles, floor tiles, vitrified tiles, and sanitaryware destined for West Asia, are stuck