Sign Free Trade Agreement Indonesia: Indonesia and the Russia-led Eurasian Economic Union (EAEU) have signed a free trade agreement (FTA) aimed at strengthening two-way trade, Indonesia’s trade ministry said. The agreement was signed over the weekend in St. Petersburg, Russia, and was witnessed by Russian President Vladimir Putin along with leaders of EAEU member states Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia. Indonesia was represented at the signing by Trade Mini

World’s Fourth-Largest Economy India: India has surpassed Japan to become the world’s fourth-largest economy, according to calculations cited in the Indian government’s end-of-year economic review. Based on current trends, the review projects that India will overtake Germany within the next three years to become the world’s third-largest economy, trailing only the United States and China. India’s gross domestic product has already reached around USD 4.18 trillion and is proje

Full-Year Prices Remain Weak China: China’s annual consumer price inflation climbed to a 34-month high of 0.8% year-on-year in December, up from 0.7% in November and in line with market expectations, according to data from the National Bureau of Statistics. The increase was largely driven by higher food prices, with fresh vegetable prices rising 18.2% and beef prices up 6.9%, supported by pre–New Year holiday demand and policy measures. On a monthly basis, the consumer price

USD 1.19 Trillion Trade Surplus China: China reported a record full-year USD 1.19 Trillion Trade Surplus in 2025, breaking the trillion-dollar mark for the first time in November, according to customs data. The strong export performance comes as Chinese producers brace for three more years of a Donald Trump administration focused on slowing China’s manufacturing strength by diverting U.S. orders to other markets. Despite renewed tariff pressures, China has shown resilience, w

Signs Free Trade Agreement Philippines: The Philippines signed a free trade agreement with the United Arab Emirates (UAE), marking Manila’s first trade pact with a Gulf country and a key step in expanding its global trade footprint. President Ferdinand R. Marcos Jr. and UAE President Sheikh Mohamed bin Zayed Al Nahyan witnessed the signing of the Comprehensive Economic Partnership Agreement (CEPA) on the sidelines of the Abu Dhabi Sustainability Week (ADSW) 2026 Summit at the

Open Markets to Foreign Investors Saudi Arabia: Saudi Arabia will open its capital markets to all foreign investors from February 1, after the Capital Markets Authority approved rule changes removing the Qualified Foreign Investor framework that previously limited access. The move is aimed at attracting overseas inflows and improving market liquidity as the kingdom advances its economic diversification plans. While JP Morgan expects the immediate impact to be limited since mo

Azerbaijan 2025 HVAC Imports from Turkiye Azerbaijan: In 2025, Azerbaijan imported heating, ventilation, and air conditioning (HVAC) systems valued at about US$ 134.571 million from Turkiye, according to trade data reported in January 2026. These imports covered systems used for heating, cooling, and ventilation purposes, reflecting ongoing trade activity in building services equipment between the two neighbouring countries. The figure marks a snapshot of Azerbaijan’s relianc

South Korea Boiler Manufacturers Expand into Residential Cooling Segment South Korea: KyungDong Navien and Kiturami, the two largest home boiler manufacturers in South Korea, are expanding their presence in the cooling market as part of efforts to diversify beyond heating. KyungDong Navien has entered the segment with the introduction of its Condensing Air Conditioner Hybrid, which offers cooling, dehumidification, and ventilation functions. The company is also preparing to l

Bluon Partners with Helios HVACR to Deploy AI Diagnostics Across Field Operations US: Bluon has announced a strategic partnership with Helios HVACR Services, under which Helios HVACR is deploying Bluon’s AI driven diagnostics and equipment intelligence platform across its nationwide field operations. Helios HVACR operates in more than 40 US states and provides commercial HVACR installation, maintenance, and repair services. The platform is being integrated into existing workf

Lecico Bathrooms UK: Lecico Bathrooms has announced the appointment of Dan Banks as Commercial Director, effective from January 2026. In this senior leadership role, Dan will oversee commercial operations, customer management, and sales activities. He brings experience from senior sales and marketing roles at Velux, Adey, and most recently Brand K. Source: Bathroom & Kitchen Update

LG Electronics Posts Second Consecutive Year of Record Revenue in 2025 South Korea: South Korean tech giant LG Electronics announced preliminary full-year 2025 results, recording consolidated revenue of USD 61.6 billion and operating profit of USD 1.7 billion, marking its second consecutive year of record sales. “Qualitative growth” businesses including B2B, webOS, product-based services and direct-to-consumer models now contribute nearly half of total revenue, while home app

Haier Bangladesh Launches 24/7 Call Centre, Expands Nationwide After-Sales Network Bangladesh: Haier Bangladesh has launched a 24/7 customer call centre and expanded its after-sales service network by adding 17 exclusive service centres and 7 direct service centres across the country. The initiative provides uninterrupted customer support, available 24 hours a day, seven days a week, and aims to improve response times and service quality nationwide. The company said the expan

U.S. Justice Department Sues California Cities Over Natural Gas Bans U.S.: The U.S. Department of Justice has filed a lawsuit against the cities of Morgan Hill and Petaluma in California over local ordinances that ban natural gas infrastructure and appliances in new construction. Filed in the Northern District of California, the complaint argues that the bans increase energy costs for consumers and undermine U.S. energy dominance by restricting federally regulated appliances

Midea Partners with WS Weinmann & Schanz to Expand Nationwide HVAC Distribution in Germany Germany: Midea has announced a major expansion of its sales network, confirming that from February 2026 it will become a listed HVAC supplier of specialist wholesaler WS Weinmann & Schanz GmbH. The partnership covers Midea’s full HVAC portfolio, including plug-and-play solutions such as PortaSplit, as well as dehumidifiers, air conditioners, and heat pumps. This marks Midea’s first whol

Franke Group Acquires Røros Metall to Boost Nordic Kitchen Hood Business Switzerland: The Switzerland-based Franke Group, headquartered in Aarburg, has acquired 100% of the shares of Røros Metall, a premium Norwegian manufacturer of RørosHetta kitchen hoods and ventilation systems, to expand its Nordic presence and strengthen expertise in central ventilation. Financial terms of the transaction were not disclosed. Røros Metall will become part of Franke Home Solutions, reinfor

Belize Introduces New Import Rules for Cooling Equipment to Cut Emissions Belize: Belize is introducing the Environmental Protection (Ozone Layer Protection) Regulations, 2025 in phases over the next three months to regulate the import of refrigerators, air conditioners, and other cooling equipment. The Department of the Environment (DOE) said the regulations will tighten controls on refrigerants to protect the ozone layer and reduce harmful emissions. Under the new rules, bu

Klaus Grohe, Former Hansgrohe Head, Dies at 88 Germany: Klaus Grohe, the long-running head of Hansgrohe Group and honorary chairman of its advisory board, passed away on January 3, 2026, at the age of 88. Born in 1937 in Aachen, Germany, the youngest son of founder Hans Grohe joined the company in 1968 after studying business and economics in Bern, Switzerland. Over nearly five decades, he led the company as head of sales, managing partner, chairman of the executive board fro

Saudi Ceramics Expands Retail Footprint with New Riyadh Showroom SAUDI ARABIA: Saudi Ceramics Co. opened a new retail showroom in Al Nuzhah, Riyadh, on Jan 11, expanding its network to 67 showrooms across the Kingdom. The company said in a statement that the financial impact of the opening is expected from Q1 2026. The move aligns with Saudi Ceramics’ retail expansion strategy to strengthen market presence, enhance customer accessibility, and meet evolving market expectations

China CHINA: China’s consumer inflation edged up to a 34-month high in December, yet broader deflationary risks remain entrenched. Data from the National Bureau of Statistics showed CPI rising 0.8% year-on-year, slightly higher than November. However, full-year inflation was flat-the weakest in 16 years, highlighting fragile demand amid a prolonged property downturn, weak job prospects, and external pressures, including the global trade war under Donald Trump. Policymakers co

Bangladesh’s Ceramics Sector Targets Export Expansion Beyond Garments BANGLADESH: Bangladesh’s ceramics industry is emerging as a strong export candidate beyond ready-made garments, supported by rapid growth in capacity and investment. The country has more than 70 ceramic manufacturers producing tableware, tiles, and sanitaryware, with annual domestic sales of roughly USD 730 million. Over the past decade, production and investment have increased by nearly 150%. Exports to ov

Samsung Electronics Releases Fourth-Quarter 2025 Earnings Guidance SOUTH KOREA: Samsung Electronics announced earnings guidance for the fourth-quarter of 2025, projecting consolidated sales of approximately USD 69.9 billion and operating profit of about USD 15.0 billion, based on K-IFRS. The estimates reflect the median of expected ranges due to Korean disclosure rules. For comparison, Q3 2025 sales stood at USD 64.7 billion with operating profit of USD 9.1 billion, while Q4

Solar Expansion in Germany Stalls in 2025 as Rooftop Installations Weaken GERMANY: Germany’s solar power capacity expansion remained broadly flat in 2025, with around 17.5 gigawatts of new installations, nearly matching 17.7 gigawatts added in 2024, according to preliminary data from German Solar Association (BSW-Solar). While photovoltaics has become Germany’s second-largest electricity generation technology, the pace of expansion is insufficient to meet the 2030 target of 2

OBI GERMANY: OBI is set to open 15 new stores in Germany by mid-2026, marking the fastest retail space expansion in its 55-year history. Partnering with five franchise operators, the DIY retailer is going to add more than 130,000 square meters of selling space in the first half of 2026. The expansion reflects OBI’s dual operating model combining centrally managed outlets with entrepreneur-led franchises and aligns with its long-term strategy to become Europe’s leading destina

US Incentive Changes Raise Home Electrification Costs from 2026 USA: The removal of United States federal tax credits for residential solar panels, battery storage systems and heat pumps from the end of 2025 is expected to increase the cost of home electrification from 2026. While the change does not raise the upfront price of equipment, it eliminates the ability for homeowners with tax liability to offset costs through incentives. A typical residential solar and battery inst