Thailand Approves Fiscal Package to Revive Tourism and Support Growth Thailand: Thailand’s Economic Cabinet has approved a fiscal stimulus package aimed at revitalising the country’s declining tourism sector and boosting economic growth. The Ministry of Finance is expected to present the proposal to the full Cabinet for approval next week. The decision followed the first meeting of the Economic Cabinet under Prime Minister Anutin Charnvirakul’s administration, which focused o

Ariston Group Acquires Telangana Manufacturing Facility to Expand Racold Operations in India India: Ariston Group has signed an agreement to acquire a new manufacturing facility near Hyderabad, Telangana, from Hintastica Private Limited, a joint venture between Groupe Atlantic of France and Hindware Home Innovation Limited of India. The plant, inaugurated in January 2023, spans 23,100 square metres, with 13,000 square metres covered area, and has an annual production capacity

India Extends Application Deadline for PLI Scheme on Air Conditioners India: The Government of India has extended the application deadline for the Production Linked Incentive (PLI) scheme for white goods, specifically air conditioners, until 10 November 2025. The extension follows strong interest from industry participants and growing investment commitments under the scheme. Initially launched in April 2021, the PLI scheme for white goods has a total budgetary outlay of INR 6

USD 1.2 Billion Disbursement Pakistan: The International Monetary Fund (IMF) approves USD 1.2 billion disbursement to Pakistan following a staff-level agreement reached after several days of talks in Islamabad. The IMF confirmed that Pakistan’s economic program is contributing to macroeconomic stability and restoring market confidence. In July 2024, the IMF had approved a USD 7 billion bailout package for Pakistan under the Extended Fund Facility (EFF) to help the country avo

Premium Building Materials in Bangladesh Bangladesh: AkijBashir Group and MHM Properties Ltd. have signed a strategic partnership to advance premium building material solutions and enhance customer value in Bangladesh’s real estate and construction sectors. Under the Memorandum of Understanding signed on October 14, MHM Properties Ltd. will feature and distribute AkijBashir’s leading brands including Akij Ceramics, ROSA Sanitaryware, Akij Particle Board Mills Ltd., Akij Door,

Leading US Air Conditioner Exporter Thailand: Thailand is projected to become the leading exporter of air conditioners to the United States in 2025, surpassing China, following the US imposition of a 19% reciprocal tariff on imports from Thailand. The tariff, along with an additional 50% levy on steel components under Section 232, is expected to boost Thailand’s competitiveness against China, particularly for window-type (self-contained) air conditioners, which account for ov

GDP Growth Expected to Slow China: China GDP Growth Expected to Slow, in a year during the third quarter of 2025, with GDP growth forecast at 4.8% year-on-year, down from 5.2% in the second quarter and the slowest pace since Q3 2024, according to a Reuters poll of 45 economists. On a quarterly basis, the economy is projected to have expanded 0.8%, slowing from 1.1% in April–June. The slowdown, driven by a prolonged property slump, trade tensions with the U.S., and deflationar

Kajaria Ceramics Reports 58% YoY India: Kajaria Ceramics Ltd reported a 58% year-on-year (YoY) growth in net profit to Rs. 133 crore (USD 16.7 million) for the second quarter ended September 30, 2025, compared to Rs. 84 crore (USD 10.7 million) in the same period last year. Revenue from operations rose 2% YoY to Rs. 1,186 crore (USD 149 million) and 7.5% sequentially from the June quarter of Rs. 1,103 crore (USD 138 million). EBITDA grew 31.3% YoY to Rs. 214 crore (USD 26.6 m

GDP VIETNAM: Vietnam aims to achieve an average annual economic growth rate of at least 10% during the 2026–2030 period, according to a document released by the country’s ruling Communist Party. Published on the Party’s official website ahead of its upcoming five-year congress, the plan sets an ambitious vision for the nation’s next development phase. It also outlines a goal to raise Vietnam’s GDP per capita to US$8,500 by 2030, nearly doubling the current target of US$4,700–

Indian Flag INDIA: The International Monetary Fund (IMF) revised India’s economic growth forecast for FY26 upward to 6.6%, from its earlier estimate of 6.4%, citing robust first-quarter performance that more than offset the effects of higher U.S. tariffs on Indian exports. However, in its latest World Economic Outlook (WEO)  report, the IMF trimmed India’s FY27 growth projection to 6.2%, down from the 6.4% forecast released in July. Despite the upward revision, India’s FY26 g

News UZBEKISTAN: Uzbekistan is set to rank among the five fastest-growing economies in the broader Europe and Central Asia region in 2025, according to the World Bank’s Europe and Central Asia Economic Update, Fall 2025 . The report forecasts Uzbekistan’s GDP to expand by approximately 6.2%, significantly outpacing the regional average amid a general slowdown across emerging European and Central Asian markets. Overall, regional GDP growth is projected to ease to around 2.4% i

Heat Network SOUTH KOREA: The city gas and district heating sectors are currently on high alert following growing interest from Minister Kim Sung-whan of the Ministry of Climate, Energy and Environment in heat pumps. This eco-friendly technology leverages external heat to provide heating or hot water, reducing reliance on fossil fuels. Widespread adoption of heat pumps could fundamentally transform the existing systems, which have been based on city gas and district heating f

Construction AUSTRALIA: Australia’s construction sector closed the 2024–25 financial year on a subdued note, with the latest ABS Building Activity data for the June 2025 quarter revealing a decline in both dwelling commencements and completions, highlighting growing concerns that progress under the National Housing Accord is already falling behind schedule. According to the Australian Bureau of Statistics (ABS), dwelling commencements dropped by 4.4% to 45,156 during the June

Economy AUSTRALIA: Australia’s unemployment rate unexpectedly jumped to a near four-year high of 4.5% in September, as more people entered the labor market, a weak outcome that has reignited expectations of further policy easing. Following the data, investors sharply increased bets on a Reserve Bank of Australia (RBA) rate cut in November, with the probability rising to 72% from 40% prior to the report. Optimism for easing had previously waned amid concerns over persistent in

Shinsung South Korea: South Korean HVAC manufacturers Shinsung Engineering and KD Navien are ramping up efforts in the growing heat pump segment as part of their sustainability and export expansion strategies. The domestic market, valued at roughly US$ 1.4 -2.1 billion, is expected to grow around 10% annually due to government incentives and green energy policies. The company is also focusing on developing geothermal and water-source systems for commercial buildings, while KD

South Korea South Korea: South Korean companies such as Samsung and LG are leveraging AI and eco-friendly heat pump and HVAC technologies to expand into emerging markets across Africa, Southeast Asia, and Latin America. They are targeting these “Global South” regions with offerings tailored to local needs, such as off-grid cooling, solar-driven systems, and modular designs. These firms aim to take advantage of growing demand in countries seeking sustainable climate control so

Sanitec Philippines: Sanitec has launched JOMOO, a smart living brand, in the Philippines, marking its first showroom opening in Metro Manila. The event, themed "JOMOO: The Eos of Smart Living," showcased a range of innovative bathroom and kitchen solutions designed to enhance modern living. Source: Philstar

India Launches Next Phase of Housing Project in Sri Lanka's Bandarawela Shri Lanka: India on Sunday launched the second stage of Phase IV of its housing project in Sri Lanka’s central hill town of Bandarawela, reinforcing development cooperation between the two nations. The initiative, part of India’s major assistance programme to construct 65,000 houses across Sri Lanka, aims to rehabilitate internally displaced Indian-origin Tamils. Under Phase IV, India has pledged 10,000

Dwarka Expressway and UER-II Drive Housing Demand in Delhi-NCR India: The Dwarka Expressway and Urban Extension Road-II (UER-II) have become major growth corridors fueling housing demand across Delhi-NCR, according to reports by Anarock Property Consultants and Cushman & Wakefield. Improved connectivity and proximity to Gurugram and Dwarka have spurred property interest, with housing supply in the region rising 23% in the first half of 2025 compared with last year. Property p

China’s Exports Surge Despite Escalating Trade War China: Chinese companies exports more goods than expected in September, with shipments rising 8.3% year-on-year, surpassing the 6.6% forecast in a Bloomberg survey, while imports grew 7.4%, resulting in a $90.5 billion trade surplus. The stronger demand from markets beyond the US is helping Chinese firms withstand potential tariff hikes threatened by President Donald Trump and providing support to the domestic economy amid de