Heat Pump Adoption in Eastern Europe Government subsidies have been a key policy lever driving heat pump adoption across Europe. In Eastern Europe, where household incomes are generally lower than in western Europe and legacy heating systems remain widespread, financial support has been particularly important in lowering entry barriers. At the same time, energy policies have also played a supportive role, as EU-level legislation such as the Fit for 55 package, the Revised Ene

Bauhaus Partners with Mirakl to Launch Online Marketplace GERMANY: German DIY market leader Bauhaus has formed a strategic partnership with French technology start-up Mirakl to develop its own online marketplace, which went live in August 2025. Using Mirakl’s marketplace technology, Bauhaus aims to significantly expand its online assortment by adding thousands of products from third-party sellers, strengthening its digital offering and customer choice. Founded in 2012, Mirakl

Austrian Residential Construction Shows Strong Signs of Recovery AUSTRIA: New residential construction in Austria is clearly moving into a recovery phase, driven mainly by strong growth in detached and semi-detached housing. According to Statistics Austria and BRANCHENRADAR, approvals for new residential units rose by 23.1% in the first three quarters of 2025, with a sharp 42.3% increase in the third quarter alone. Private households are once again investing heavily, supporti

First Supply Broadens Chicagoland Footprint with Able Distributors Acquisition USA: First Supply has strengthened its position in the Chicagoland market by acquiring Able Distributors, an established heating, ventilation and cooling (HVAC) supplier with four branch locations in Chicago, South Chicago, Northfield and McHenry. The deal supports First Supply’s long-term growth strategy in a key Midwest region and adds 48 new team members to its workforce. Able Distributors, know

Solar Panels and Heat Pumps Set to Become Costlier in 2026 USA: The expiration of the 30% federal tax credit for residential solar and battery systems at the end of 2025 will make home electrification more expensive for many homeowners in 2026, even if equipment list prices remain unchanged. Leased systems keep credits until the end of 2027, and new lease-to-own and prepaid-lease models are emerging so installers can pass savings to customers. Added costs from tariffs and new

Punjab to Launch Large-Scale Affordable Housing Programme INDIA: The Punjab government is set to begin construction of 37,000 housing units under the Punjab Affordable Housing Programme (PAHP), a World Bank-funded initiative worth US$250 million over five years. Of the total, 20,000 homes will be built on state-owned land using World Bank financing, while the remainder will be delivered through private sector participation. Preparatory work is well advanced, with 41 governmen

Philippines Expands Housing and Urban Development Agenda for 2026 PHILIPPINES: The Department of Human Settlements and Urban Development (DHSUD) has outlined an expanded housing and urban development strategy for 2026 under its recalibrated Pambansang Pabahay Para sa Pilipino (4PH)  programme. The revised approach is now beneficiary-focused, allowing households to choose between vertical housing, house-and-lot units, or lot-only options. DHSUD aims to deliver 90,000 housing u

Canada and UAE to Begin Economic Partnership Negotiations CANADA: Canada and the UAE will begin negotiations next month on a comprehensive economic partnership agreement, International Trade Minister Maninder Sidhu told Reuters. Ottawa hopes the talks will deepen ties with the Gulf and attract investment particularly into liquefied natural gas and green-energy projects, part of a broader strategy to diversify exports away from the United States amid tariff pressures. Abu Dhab

Portugal Approves 2026 Budget with Strong Emphasis on Housing and Infrastructure PORTUGAL: Portugal’s parliament has approved the 2026 budget, allocating US$7.5 billion (€6.9bn) to housing and transport infrastructure as part of a broader plan to support growth while maintaining fiscal discipline. The centre-right minority government projects GDP growth of around 2.3% and a fourth consecutive budget surplus, alongside a reduction in public debt to about 88% of GDP. Total expe

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