South Korea Plans Mandatory Heat Pump Adoption in New Homes by 2030 SOUTH KOREA: South Korea is set to accelerate the electrification of heating, with plans to make heat pump installation largely mandatory in new homes from 2030, according to Climate Minister Kim Sung-hwan. The move aims to address the delayed transition away from fossil fuel-based heating, which accounts for nearly half of final energy consumption, and support the country’s 2050 carbon neutrality goal. The g

Haier Opens First Flagship Store and Launches Premium Products in Bangladesh BANGLADESH: Haier has inaugurated its first flagship store in Dhaka, marking a significant step in strengthening its brand presence and retail expansion in Bangladesh. The store features the company’s latest visual identity and offers a complete range of home appliances, delivering a one-stop smart home experience for consumers. At the launch, Haier introduced three premium products, including an AI-

India Construction Costs Surge Sharply, With Retail and Luxury Housing Bearing the Highest Pressure INDIA: In India, construction costs have risen significantly, with retail, luxury housing and premium real estate segments facing the steepest increases. According to industry analysis, mall construction costs have surged by around 13.9% over the past two years, while luxury housing costs have increased by about 12.8%, driven by higher design complexity, rising material prices

TOTO Japan: TOTO announced that it will gradually resume accepting new orders for its unit bath products starting April 20, 2026, following improved visibility in raw material procurement. The company had previously restricted orders due to supply uncertainties, but recent developments have allowed it to better assess material availability and restart operations in a phased manner. The decision reflects easing supply constraints in key inputs used for bathroom products. Howev

Morbi Ceramic industry India: There are around 142 ceramic units in Morbi, Gujarat, that are currently operational following disruptions caused by global energy supply constraints. The sector was significantly impacted by volatility in liquefied natural gas supply linked to geopolitical tensions, which led to rising fuel costs and forced several units to suspend operations from mid-March. Prior to the disruption, about 377 units were using piped natural gas, while nearly 415

Room Air Conditioner Prices in India Rise 5% Compared to Last Year INDIA: Room air-conditioner prices in India are expected to rise about 5% this summer compared with last year, as manufacturers face higher input costs and tighter energy-efficiency regulations. Companies including Blue Star Limited said rising commodity prices, new energy labelling norms taking effect from January 2026, and global supply pressures are driving the increase. Industry executives estimate raw mat

India Allocates US$10.8 Billion Under Urban Challenge Fund to Accelerate City Projects INDIA: India has launched a major urban infrastructure push under its Urban Challenge Fund (UCF), with ₹900 billion (US$10.5 billion) of the ₹1 trillion (US$11.7 billion) fund earmarked to partially finance around 60 categories of city projects. These include infrastructure upgrades, old city revitalization, market redevelopment, flood prevention, waste recycling, and multi-level parking. H

China’s Q1 Recovery Faces Growing Risks as Iran War Clouds Global Outlook CHINA: China’s economy expanded 5.0% year-on-year in the Q1 of 2026, beating forecasts and placing growth at the top end of Beijing’s full-year target range. Strong exports drove the early-year momentum, but the Iran war has raised concerns over higher energy costs, supply chain disruptions, and weaker global demand. The conflict is already pushing up input prices for manufacturers. Peng Xin, general ma

PT Aspirasi Hidup Indonesia Tbk Accelerates Expansion and Diversifies Portfolio in 2025 INDONESIA: PT Aspirasi Hidup Indonesia Tbk strengthened its retail footprint and diversified its business portfolio in 2025, marking a key year in its transformation strategy. The company opened 27 new AZKO stores, expanding into 15 new regions including eastern Indonesia, bringing its total network to 265 stores across 90 cities. It also launched a new affordable home and lifestyle brand,

Panasonic Vietnam Relaunches SANYO Air Conditioners for Mass Market Expansion VIETNAM: Panasonic Corporation’s Vietnam unit has launched the SANYO air conditioner range in Vietnam, marking a strategic move to broaden its product portfolio and target more price-sensitive consumers. The relaunch brings SANYO back to the Vietnamese AC market under Panasonic’s direct management, combining SANYO’s legacy brand recognition with Panasonic’s technology, quality control, after-sales s

South Korea to Launch 62,000 Public Housing Units This Year in Major Supply Push SOUTH KOREA: South Korea’s government plans to begin construction on 62,000 public housing units in the capital region in 2026, more than double the average annual starts over the past five years and the largest supply push since 2020. The move is aimed at offsetting weak private-sector construction caused by high interest rates and rising costs, while easing concerns over a potential housing sup

Launches Air Conditioning Training Centre Cambodia: Daikin Cambodia has inaugurated an air conditioning technical training centre, named “Daikin Dojo”, at the Industrial Technical Institute (ITI). The initiative focuses on improving technical skills among students and technicians, while also promoting professional standards related to discipline, safety and installation practices. The centre has been established in collaboration with government and institutional stakeholders

Monetary Authority of Singapore Slightly Tightens Policy Amid Inflation Risks and Slowing Growth Singapore: The Monetary Authority of Singapore (MAS) slightly increased the rate of appreciation of its S$NEER policy band while keeping its width and midpoint unchanged, citing heightened inflation and growth risks due to evolving Middle East tensions and rising energy costs. Singapore’s GDP grew 4.6% in Q1 2026, below the expected 5.9%, and contracted 0.3% quarter-on-quarter, wh

Midea Building Technologies and Keppel Ltd. Partner to Develop AI-Enabled Energy-Efficient Cooling Solutions Across Asia China: Midea Building Technologies, a unit of Midea Group, has entered a non-exclusive strategic collaboration with Keppel Ltd. to co-develop AI-enabled, energy-efficient modular cooling systems across Asia, combining MBT’s HVAC manufacturing and intelligent building systems with Keppel’s Cooling-as-a-Service and digital optimisation capabilities. The solut

Sloan Acquires Stake in Essel Bath Fittings to Expand India Presence India/USA: Sloan, a United States-based plumbing systems manufacturer, has acquired a controlling stake in Essel Bath Fittings to expand its presence in the Indian bath fittings market. Financial details of the transaction were not disclosed. The partnership aims to utilise Essel’s manufacturing capabilities and distribution network to address demand in both premium and mid-segment categories. Essel will con

Toto Suspends Bathroom Orders Amid Material Shortages Japan: Toto has suspended new orders for prefabricated and modular bathrooms due to shortages of key materials linked to disruptions in global oil supply chains. The company informed its business partners of the decision and has not indicated when order acceptance will resume. The shortage is linked to reduced availability of naphtha, a petroleum-based feedstock used in plastics, of which Japan imports a significant share

Samsung Boosts AC Production Ahead of Expected Record Heatwave South Korea: Samsung Electronics has operationalized its air conditioner production lines at its Gwangju plant at full capacity since February, in anticipation of increased demand during the upcoming summer season. The decision follows forecasts of a record heatwave by the South Korea Meteorological Administration and market response to its 2026 AI air conditioner models launched earlier this year. The company als

Copper Pipe and Tube Operating Rates Rise in March Amid Domestic Demand China: According to Shanghai Metals Market data, the operating rate of copper pipe and tube enterprises reached 82.45 per cent in March, increasing by 23.71 percentage points month-on-month but declining by 2.78 percentage points year-on-year. The rise in operating rates was linked to a decline in copper prices during the month, which led end-users to secure purchases in advance. Despite continued uncerta

Delhi Expands Transit-Oriented Development Policy to Support Housing Supply India: The Government has expanded the Transit-Oriented Development framework under the Master Plan of Delhi 2021 through the introduction of the Regulations for Transit Oriented Development and Charges, 2026. The policy aims to promote development linked to public transport infrastructure and increase the availability of housing in the National Capital Territory. It focuses on planned urban growth by

Maharashtra Approves Land Acquisition for Affordable Housing in Borivali India: The Government of Maharashtra, led by Devendra Fadnavis, has approved the acquisition of land from Bharat Sanchar Nigam Limited and Mahanagar Telephone Nigam Limited in Borivali to support housing development. The decision was taken during a meeting of the Maharashtra Housing Development Authority held at Sahyadri Guest House. The land parcels, covering 28.84 acres in Gorai and Shimpoli, are plann