bathroom INDIA: Carysil Group has expanded its retail presence with the launch of new Carysil and Sternhagen stores in Hyderabad, reinforcing its position in one of India’s fastest-growing residential markets. The new retail destination brings the company’s kitchen and bath brands together under a single roof, creating a dedicated space for homeowners, architects and interior designers to explore solutions that combine design, craftsmanship and innovation. The Hyderabad expan

Construction THAILAND: Thailand-based industrial conglomerate SCG reported strong financial results for the first half of 2026, driven by the success of its regional restructuring strategy. The company recorded a 35% increase in adjusted cash EBITDA to THB 42.9 billion (USD 1.28 billion), while total sales revenue reached THB 259.6 billion (USD 7.75 billion). Profit for the period stood at THB 17.8 billion (USD 0.53 billion), with net profit, excluding special non-cash items,

SCGD and Axent Switzerland AG Form Joint Venture to Produce Smart Sanitaryware in ASEAN Thailand: SCGD announced that its subsidiary, Siam Sanitaryware (SSW), has formed a joint venture with Axent Switzerland AG, with SSW holding a 51% stake and Axent 49%, supported by a registered capital and total investment of approximately USD 2.5 million (THB 80 million). The new venture will manufacture and assemble smart and tankless sanitaryware with an annual production capacity of 9

IKEA Opens Second Delhi City-Format Store to Strengthen Presence in Northern India India: IKEA is strengthening its presence in northern India with the opening of its second city-format store in Delhi at DLF Avenue, Saket, on 30 July, spanning 30,000 sq ft, marking its fourth city-format store in India after Mumbai, Pune and West Delhi. The outlet will offer nearly 3,000 products, with around 1,400 available for immediate takeaway and access to a catalogue of more than 6,900

Panasonic Life Solutions India Reports 50% Growth in Residential Air Conditioner Sales During 2026 Summer Season India: Panasonic Life Solutions India reported a 50% year-on-year increase in residential air conditioner sales during the 2026 summer season, achieving its highest-ever seasonal sales in the country, driven by strong demand across metro, Tier II, and Tier III markets for premium inverter, connected, and energy-efficient air conditioners. Earlier this year, the com

TA Global Partners With Gaggenau, Gessi and Laufen for CloutHaus Residences in Kuala Lumpur Malaysia: TA Global has signed memoranda of understanding (MoUs) with Gaggenau, Gessi, and Laufen to supply kitchen appliances, fittings, and sanitary ware for CloutHaus Residences, the residential component of its USD 708 million (RM3 billion) mixed-use development in Kuala Lumpur City Centre (KLCC). The agreements were formalised on 21 July at the CloutHaus Sales Gallery, with select

Hitachi Opens BuilMirai Experience Center in India to Showcase AI-Powered Smart Building Solutions INDIA: Hitachi, in collaboration with Hitachi Lift India and GlobalLogic, has inaugurated the BuilMirai Experience Center at GlobalLogic's headquarters in Noida, India. The facility serves as an innovation and customer engagement hub for BuilMirai, Hitachi's digital building management platform built around its HMAX for Buildings portfolio. By combining operational technology, a

Thailand Air Conditioner Exports to Europe Surge as Heatwave Boosts Demand THAILAND: Thailand's air conditioner exports to Europe are accelerating as prolonged heatwaves and rising cooling demand drive orders. According to the Trade Policy and Strategy Office (TPSO), Thailand exported US$149 million worth of air conditioners in May 2026, up 40.7% year-on-year, while exports reached US$784 million during January–May, an 18.9% increase. Reversible air conditioners with heat pum

China's Fiscal Revenue Grows 4.7% in H1 2026 Despite Continued Property Market Weakness CHINA: China's fiscal revenue increased 4.7% year-on-year to approximately US$1.8 trillion in the first half of 2026, accelerating from 4.0% growth in January–May. Tax revenue rose 5.3%, while non-tax revenue increased 2.3%. Fiscal expenditure climbed 1.5% to around US$2.11 trillion as Beijing pledged continued support for investment and consumption through proactive fiscal policies. Howev

South Korea's Economic Growth Slows in Second Quarter South Korea: South Korea's economy is expected to have expanded by 0.4% in the second quarter of 2026, according to a Reuters poll of economists, slowing from the 1.8% growth recorded in the first quarter. On an annual basis, gross domestic product (GDP) is forecast to grow by 3.5%, compared with 3.8% in the previous quarter. Economists attributed the slower quarterly growth to weak domestic demand and consumer spending, d

Panasonic Outlines Growth Strategy for HVAC & Cold Chain Business Japan: Panasonic Group has outlined its growth strategy through 2032, identifying its newly established Panasonic HVAC & Cold Chain Company (HVAC & CC) as a key business supporting the expansion of its Solutions segment. Formed in April 2026 through the merger of Panasonic's Heating and Ventilation A/C Company and Cold Chain Solutions Company, HVAC & CC generates annual sales of approximately JPY 1,300 billion

Voltas Leads Another Round of Air Conditioner Price Increases in India INDIA: Air conditioner manufacturers in India are preparing another round of price increases as elevated raw material costs and currency pressures continue to squeeze margins. Voltas raised AC prices by 2–3% in July, an unusual move during the monsoon off-season, with other brands expected to follow by increasing prices by a further 3–4% in the coming weeks. The latest revisions follow cumulative price inc

RAK Ceramics Bangladesh Appoints Mohammod Khourshed Alam as CEO Bangladesh: RAK Ceramics (Bangladesh) Limited has appointed Mohammod Khourshed Alam as Chief Executive Officer, effective 15 July. The company stated that he brings experience in business strategy, commercial operations, organisational development and corporate management. The appointment is intended to support the company's strategic growth initiatives across its ceramic and porcelain tiles, sanitaryware, faucet

BRG is pleased to announce the recent publication of the 2026 Heating and Cooling market reports for its tiers 2 countries. BRG reports provide an in-depth overview of the most recent developments in the Heating markets in several European countries, including market trends, price developments, sales per sector, supply structure, and distribution patterns. Tier 2 European Heating and Cooling Markets: 2025 Developments Across recently published Tier 2 European countries, 2025

India’s LPG Import Surge Leaves State Fuel Retailers with Excess Inventories India: State-run refiners Indian Oil Corp. (IOC), Bharat Petroleum Corp. (BPCL) and Hindustan Petroleum Corp. (HPCL) are facing excess LPG inventories after securing imports of up to 40,000 tonnes per day amid concerns over potential disruptions in the Persian Gulf through the Strait of Hormuz. With supply risks easing, daily import requirements have fallen to around 30,000–32,000 tonnes, while domes

Capacite Infraprojects Secures USD 56 Million Luxury Residential Construction Contract in Mumbai India: Capacite Infraprojects Limited has secured a USD 56 million (INR 4,820 million) construction contract from Twenty-Five Downtown Realty Limited for a luxury residential project in Mahalaxmi, Mumbai, strengthening its order book and enhancing revenue visibility over the next 24–36 months. The project reinforces the company's presence in the Mumbai Metropolitan Region (MMR), i

Hansgrohe Expands Wash Portfolio in India with Launch of Avalegra India: Hansgrohe has expanded its Wash portfolio in India with the launch of Avalegra in Mumbai, showcased at its channel partner outlet C B Xclusive, as part of its strategy to strengthen its consumer-facing retail presence and premium positioning. Avalegra introduces an integrated Washplace concept that combines the wash basin and faucet into a single solution, featuring a parabolic spray integrated into the

LG Electronics Reports Record Second-Quarter 2026 Revenue and Operating Profit South Korea: LG Electronics Inc. reported preliminary second-quarter 2026 consolidated revenue of approximately USD 17.3 billion (₩23.83 trillion) and operating profit of approximately USD 1.15 billion (₩1.58 trillion), marking the highest second-quarter results in the company’s history. For the first half of 2026, the company recorded revenue of approximately USD 34.5 billion (₩47.56 trillion) and

ITOCHU and Daikin Form Alliance to Advance Commercial Air Conditioner Recycling in Japan Japan: ITOCHU Corp. and Daikin Industries have signed a comprehensive business alliance agreement under Japan’s Act Concerning Sophistication of Recycling Business, etc. to Promote Resource Circulation (Type 1) to advance resource recycling for commercial air conditioners and expand the use of recycled materials. The partnership will integrate the entire recycling process—from collection

Mitsubishi Electric Acquires APAC and COMPAC Groups to Expand European Data Center Cooling Business Japan: Mitsubishi Electric Corporation announced that its wholly owned subsidiary, Mitsubishi Electric Hydronics & IT Cooling Systems S.p.A., acquired all shares of the APAC and COMPAC groups, including their operating companies in the Netherlands, on July 13. The acquisition strengthens Mitsubishi Electric’s one-stop capabilities in Europe by combining the groups’ expertise in