India Replaces NBC 2016 with NBC 2026 India: The Bureau of Indian Standards (BIS) has officially notified the National Building Construction Standards 2026 (SP 7: 2026), replacing the National Building Code of India 2016 with immediate effect from 30 April 2026. The updated standards were introduced under Rule 15(1) of the BIS Rules, 2018, and are intended to revise India’s regulatory framework for building design, construction practices, safety standards and valuation parame

Exits India After Four Decades India: Japanese electronics major Sharp Corporation has exits India after selling its 75% stake in Sharp India to Pune-based Smart Services for INR 19.46 crore (USD 2.03 million), ending the company’s direct presence in the country after nearly four decades. Sharp entered India in 1985 through its manufacturing arm and later partnered locally to manufacture televisions and air conditioners. Over the years, the company expanded into consumer elec

Daikin Daikin Holdings Singapore announced the signing of a Memorandum of Understanding with Delta Electronics to jointly develop next-generation Coolant Distribution Unit (CDU) solutions for AI and high-performance computing (HPC) data centres across the ASEAN and Oceania regions. The collaboration combines Daikin’s long-standing expertise in facility-level cooling and thermal management with Delta’s advanced capabilities in server-side liquid cooling and CDU technologies to

Haier THAILAND: Haier is investing THB 5 billion (US$ 154 m) to establish a new commercial air conditioner manufacturing facility in Rayong, Thailand, with operations expected to commence in June 2027. The plant, situated on approximately 76 rai within the WHA Eastern Seaboard Industrial Estate 5, is projected to become Southeast Asia’s largest central air conditioning manufacturing base. According to the company, the facility is expected to achieve an annual production capac

Carysil Expands Premium Kitchen Business in India INDIA: Carysil showcased its latest kitchen and bathroom innovations at Innovaxpo 2026 while accelerating expansion in the Indian market. The company introduced advanced quartz and granite sinks, integrated stainless steel worktops, RO faucet systems and its premium CX appliance range inspired by European design. Carysil also expanded into bathroom solutions through its Carysil Blue portfolio. Growth is being driven by rising

Housing Construction Vietnam: Nishi-Nippon Railroad, also known as Nishitetsu, plans to develop around 22,000 housing units in Vietnam between 2026 and 2035 through a partnership with local developer Nam Long Group. The Japanese company has acquired a 49% stake in Nam Long ADC, a subsidiary focused on affordable and middle-income housing projects, while Nam Long will retain the remaining 51% stake. The partnership will expand existing residential developments around Ho Chi Mi

Import relaxation on air conditioner and compressor India: The Government of India has extended conditional import relaxations for selected hermetic compressors used in air conditioners, refrigerators, and heat pumps until March 31, 2027, under the amended Quality Control Order framework. The revised notification allows manufacturers to continue importing specified compressor categories for captive use, subject to limits linked to their FY2024-25 import volumes. The move is a

Cera India: Cera Sanitaryware reported a 9.6% year on year decline in net profit to INR 77.33 crore (US$8.11 million) during Q4 FY26, while revenue from operations increased by 11.4% to INR 643.8 crore (US$67.5 million). The company stated that higher operating expenses, including increased stock in trade purchases and other expenditures, affected profitability during the quarter. Operating profit margin declined to 15.2% from 18.3% in the corresponding period last year. For

VTS Expands Production Capacity in Bangalore with Second Manufacturing Module India: In response to rising order volumes and growing demand for HVAC solutions across the region, VTS has expanded its production capacity in Bangalore, India, by launching a second production module. The newly operational facility, completed following successful equipment installation, manufactures air handling units (AHUs), including solutions dedicated to the Data Center sector. The expansion s

Tata Power, Keppel and Tata Realty Partner for Large-Scale Cooling-as-a-Service Project in Chennai India: Tata Power Trading Company Ltd, a wholly owned subsidiary of Tata Power, has partnered with Keppel Limited and Tata Realty and Infrastructure Limited to deploy a large-scale cooling-as-a-service (CaaS) solution at Intellion Park in Chennai’s Taramani IT corridor. Spread across more than 25 acres, the project will feature a total installed cooling capacity of 12,100 tonnes

Blue Star Reports 17% Growth in Q4 FY26 Net Profit Despite Weather-Related Demand Challenges India: Blue Star Limited reported a 17% year-on-year increase in consolidated net profit to approximately USD 26.8 million in Q4 FY26, compared to around USD 22.9 million in the same quarter last year, while revenue from operations rose 1.3% to nearly USD 480.6 million. For the full year FY26, consolidated net profit declined 11% to around USD 62.2 million despite revenue increasing 3

China’s First-Tier Property Markets Show Recovery While Lower-Tier Cities Continue to Struggle China: China’s property markets is showing signs of recovery, led by stronger demand in first-tier cities such as Shanghai, Beijing, Guangzhou, and Shenzhen, while lower-tier cities continue to face high housing inventory and weaker demand. Shanghai recorded 31,215 pre-owned home transactions in March 2026, the highest monthly level since March 2021, followed by nearly 29,000 transa

Hisense HVAC Enters Indian Market, Appoints Rakesh Chauhan as India Director INDIA: Hisense HVAC has officially commenced operations in India and appointed Rakesh Chauhan as Director for India. The announcement was made during a product launch event in Bangkok attended by channel partners from across India. The company, a subsidiary of Qingdao Hisense Hitachi Air-conditioning Systems, plans to introduce smart HVAC solutions for residential and commercial applications in the I

COTTO Expands Portfolio with Focus on Automatic Sanitary Solutions Thailand: COTTO has outlined its business strategy for 2026, focusing on expanding its product portfolio and introducing automatic sanitary ware to address demand for contactless and hygiene-oriented solutions. The company plans to broaden its surface materials offering to more than 10 categories, alongside the launch of new bathroom products, including an automatic toilet system and washbasin designs. These d

Air Conditioner Prices in India Expected to Increase Further India: Air conditioner prices in India are expected to rise further in the coming months due to higher raw material costs and revised energy efficiency standards introduced in January 2026. Industry representatives stated that costs across the sector have increased by around 14% to 16%, driven by higher prices of copper, aluminium and steel, along with changes in energy rating requirements. Older models manufactured

Carrier Targets India Growth with New Sri City Facility India: Carrier Global has announced plans to invest USD 100 million (EUR 92 million) in a new manufacturing facility in Sri City, Andhra Pradesh, with operations expected to begin by the end of next year. The company stated that India has been its fastest-growing market over the past four years, recording growth above 20% during the period and 33% growth in the first quarter of 2026. The new facility is intended to incre

Iraq Prepares Plans for 21 New Residential Cities Iraq: Iraq has prepared designs for 21 new residential cities as part of ongoing efforts to address housing shortages, according to an official statement. The Ministry of Construction and Housing is working towards developing fully serviced residential cities in cooperation with real estate developers across multiple governorates. Ministry spokesperson Nabil al-Saffar stated, “Basic designs have been prepared for 21 cities…the

Chinese flag CHINA: As urban living in Hong Kong increasingly prioritizes efficiency, wellness, and optimal space use, a forward-looking bathroom brand has entered the market. Leisure Plus Building Products Company Limited, with nearly 30 years of presence in the city, has been appointed the exclusive Hong Kong agent for global bathroom brand JOMOO. Through this partnership, the companies aim to introduce premium smart bathroom solutions powered by JOMOO’s advanced AI-driven

Logo SOUTH KOREA: Samsung Electronics reported its financial results for the first quarter ended March 31, 2026. The Digital Appliances (DA) business posted only modest earnings improvement during the quarter, impacted by ongoing cost pressures and tariffs. Looking ahead to the second quarter of 2026, the company expects to support revenue growth through the launch of a new premium product lineup and a recovery in air conditioner demand. In the second half of 2026, the busine

USD 1 Billion Investment India: French building materials major Saint-Gobain plans to invest nearly INR 8,300 crore (USD 1 billion) in India over the next five years, signalling a strategic pivot toward emerging markets. The company sees India as a key growth engine driven by strong population growth, rapid urbanisation, and a rising middle class. CEO Benoit Bazin highlighted that India could become one of the company’s largest profit contributors, potentially surpassing Fran