Delhi Master Plan 2047 Targets 40 Lakh New Homes and Expanded Metro Network New Delhi: The Master Plan for Delhi (MPD) 2047 has been unveiled, with plans to construct around 30–40 lakh homes and expand the metro rail network to 695 km by 2047. Union Housing and Urban Affairs Minister Manohar Lal said Delhi’s population is projected to reach 3.20 crore, increasing pressure on urban infrastructure. The plan also includes six new Regional Rapid Transit System corridors and furth

Shanghai Eases Property Measures to Support Housing Demand China: Shanghai will ease several property-related measures from Friday, including mortgage, housing provident funds and purchase subsidy policies, as authorities seek to support housing demand. For second homes purchased outside the city’s outer ring expressway, the minimum down payment for commercial mortgages will be reduced to 15%, from 20% previously. The measures form part of a broader adjustment to housing poli

Kermi Duschdesign Appoints Karsten Denker as Managing Director Germany: Karsten Denker will become Managing Director for Sales and Marketing at Kermi Duschdesign in August 2026. He has been responsible for the company’s international business since August 2025 and will take on additional responsibility for sales in Germany and Austria, internal sales and service, marketing and product management. Denker has more than 25 years of management experience, including roles at Linde

Danfoss Reports 15% Organic Growth in First Half of 2026 Global: Danfoss reported 15% organic growth in the first half of 2026, with sales reaching EUR 5.3 billion (USD 6.2 billion). Growth and order intake increased across its three business segments, while operational EBITA rose 44% to EUR 813 million (USD 948 million), resulting in an operating margin of 15.3%, up 3.5 percentage points from the same period last year. Cash flow increased to EUR 164 million (USD 191 million)

Haier HVAC Solutions Europe and Frigentis Form Austria Partnership Austria: Haier HVAC Solutions Europe and Frigentis GmbH have entered into a partnership covering the Austrian HVAC market. Frigentis, a specialist wholesaler of air-conditioning technology and heat pumps, acts as an official distributor for Haier Austria. The company has more than ten years of B2B experience and provides products and services for air-conditioning and heat pump installations to contractors and

NIBE Appoints Jonas Bjuhr as Managing Director of NIBE AB Sweden: NIBE has appointed Jonas Bjuhr as Managing Director of NIBE AB, with the appointment taking effect on 4 December 2026. He will assume operational responsibility for NIBE AB, which is the largest company within both the NIBE Group and its Climate Solutions business. Bjuhr joins NIBE after 25 years at Hydro, where he held several senior positions and most recently served as vice-president of the Precision Tubing

NIBE Reports Continued Organic Growth in Second Quarter of 2026 Global: NIBE reported continued underlying organic growth in the second quarter of 2026, marking the sixth consecutive quarter of growth compared with the corresponding period of the previous year. Operating profit and operating margin also improved for the sixth consecutive quarter. The company told US tariffs had been partly offset in two of its three business areas, while NIBE Stoves was more affected. It also

3U Holding to Close Three HVAC Businesses Germany: 3U HOLDING AG will permanently close the operations of Calefa GmbH, EMPUR Produktionsgesellschaft mbH and EM-PLAN GmbH within its HVAC segment. Operating activities will cease on 30 November 2026, with final closure expected by 31 March 2027. The decision affects 47 employees. The company’s remaining HVAC activities, including online retail, will continue. The closures are attributed to a decline in demand for surface heating

Chinese AC brands continue dominating the market through competitive pricing, extensive dealer networks, and strong consumer perception regarding performance and reliability.

Tariffs USA: The United States has imposed 50 percent tariffs on approximately $20 billion worth of Canadian goods after trade negotiations between the two countries failed to produce an agreement following three days of talks in Washington, DC. In response, Canadian Prime Minister Mark Carney outlined measures to shield Canadian workers and businesses from the impact of the escalating trade tensions, including additional support for affected industries. Canada is also prepar

Retail Store INDIA: India’s home improvement market is undergoing a shift as digitally native brands increasingly challenge traditional players by rethinking both product offerings and distribution models. Bathware brand Ruhe is among the companies pursuing this approach, combining e-commerce, technology, and an inventory-light distribution model to support its dealer network. Instead of relying on the conventional distributor-led model, Ruhe has developed a digital-first eco

Acquisition USA: Vector Building Products, a specialty building products distribution platform serving the non-residential construction market across North America, has acquired Prestige Distribution, LLC., a distributor headquartered in Northbrook, Illinois, with additional operations in Dallas, Texas. Founded in 2004, Prestige provides Division 10 and other commercial specialty products, offering design, distribution, project management, and installation services to custome

Acquisition USA: Bed Bath & Beyond has signed a letter of intent to acquire F9 Brands Inc., the parent company of Lumber Liquidators, for approximately $150 million. The transaction covers F9 Brands’ equity interests and substantially all of its assets, including Cabinets To Go, Gracious Home / Thos. Baker, and Southwind Building Products. The proposed acquisition follows Bed Bath & Beyond’s recent $150 million purchase of The Container Store and further expands its presence

Sanitary ware BANGLADESH: Meghna Group of Industries (MGI), one of Bangladesh’s largest industrial conglomerates, has entered the sanitaryware market to capitalise on rising demand supported by increased construction activity. The group, which has more than two decades of experience in manufacturing construction materials, including cement, expanded into sanitaryware five years after launching its ceramic products business in 2021 as part of its broader product diversificatio

sanitary ware Turkmenistan-based Eziz Doganlar Keramika has exported porcelain stoneware products to Georgia for the first time, marking the company’s entry into a new international market. The enterprise, which manufactures porcelain stoneware tiles and sanitaryware, was established in 2025 with the participation of the President of Turkmenistan. The company’s products are manufactured using locally sourced raw materials and are designed for applications across the construct

Sanitary Ceramics According to data from the China Building Sanitary Ceramics Association, China exported 53.51 million units of sanitary ceramics in the first half of 2026, representing a 6.4% year-on-year increase in volume. However, export value declined by 34.21% to $1.689 billion, indicating significant downward pressure on export pricing. The average export price fell sharply to $23.06 per unit in the second quarter, down 41.7% from $39.56 in the first quarter and 58.2%

Samsung SOUTH KOREA: Samsung Electronics is relocating production of its eco-friendly heating system heat pump boilers to South Korea, becoming the first heat pump manufacturer to participate in the government’s heating electrification programme aimed at encouraging the reshoring of overseas production. The company began trial production at a newly established 2,132-square-metre production line at the second campus of its Gwangju plant. Mass production is scheduled to begin b

Thailand Economy Grows 1.9% in Q2 2026 Thailand: Thailand’s economy grew 1.9% year-on-year in the second quarter of 2026, exceeding the 1.7% median forecast, according to the National Economic and Social Development Council. On a seasonally adjusted quarterly basis, GDP contracted 0.2%, compared with a forecast 0.6% decline. Growth in the first quarter was revised to 2.8% year-on-year and 0.6% quarter-on-quarter. The agency raised its full-year 2026 growth forecast to 2.0–2.5

Geberit Reports 5.9% Currency-Adjusted Sales Growth in H1 2026 Global: Geberit reported net sales of CHF 1.71 billion (USD 2.16 billion) in the first half of 2026, up 5.9% on a currency-adjusted basis and 2.8% in Swiss francs. EBITDA increased 3.0% to CHF 529 million (USD 668 million), while the EBITDA margin stood at 30.9%. Currency-adjusted sales growth was recorded across most European markets, with Eastern Europe increasing 11.8%, Switzerland 9.7%, Italy 6.9%, Benelux 6.7

Somany Ceramics Approves INR 758 Million Expansion India: Somany Ceramics has approved investments of up to INR 758 million (USD 8.9 million), including INR 588 million (USD 6.9 million) for a 49% stake in a joint venture to establish a glazed vitrified tile plant in South India with annual capacity of 9 million square metres. The company also acquired a 60% stake in Sudha Somany Ceramics for INR 18 million (USD 0.2 million) and completed a scheme to merge three wholly owned