Economy Surges to Record Growth Taiwan: Taiwan’s economy recorded its fastest growth since 1987, expanding by 13.7% year-on-year in Q1 2026, driven by strong global demand for AI-related technology products. The growth exceeded expectations, supported by robust exports, rising investments, and improved private consumption. Tech exports accounting for over three-quarters of total shipments played a crucial role, with overall exports hitting a record high in March, reflecting t

Deepens Strategic Ties with ADB Uzbekistan: Uzbekistan has significantly strategic Ties with the Asian Development Bank (ADB), which has provided around UZS 1.2 quadrillion (US$14.6 billion) in funding through nearly 300 projects since 1995. This collaboration has supported key sectors including infrastructure, energy, healthcare, agriculture, and financial systems, contributing to the country’s ongoing economic reforms and sustainable development. Major initiatives include r

A Niche but Growing Segment India’s air conditioner market has long been shaped by the country’s intense summers, with cooling-only split ACs dominating residential and commercial spaces. As temperatures soar for much of the year, air conditioning has moved from being a luxury to a near-necessity in many urban households. However, rather than a broad market shift, a small but emerging niche is beginning to take shape. Reversible split air conditioners, which provide both coo

GIFT City Expands District Cooling Network with Major Capacity Increase Plans INDIA: Gujarat International Finance Tec-City (GIFT City) is set to significantly expand its district cooling system, aiming to triple capacity to 30,000 TR by 2030. A new 10,000 TR plant in the SEZ, alongside upgrades to the existing network, will support this growth. Capacity is expected to reach 20,000 TR by 2028, serving around 55 buildings across commercial, residential and social infrastructur

Daelim Bath South Korea: Daelim Bath reported that it has retained the leading position in the South Korean sanitaryware market for 23 consecutive years, with a market share of 61.8% based on annual shipment data released by the Korea Ceramics and Tile Industry Cooperative. This figure highlights the company’s dominant position, with its share being more than double that of the second-ranked competitor. The data serves as a key benchmark for assessing trends in the bathroom i

SCG Decor Thailand: SCG Décor Plc announced an investment of over 1.6 billion baht (approximately US$48 million) to enhance production capabilities across Thailand and Vietnam as part of its regional optimisation strategy. The investment focuses on expanding glazed porcelain tile production capacity in Vietnam and improving manufacturing efficiency in Thailand. In Vietnam, funds are being directed toward increasing capacity at the PRIME production base to support both domesti

LG Electronics South Korea: LG Electronics Inc. reported consolidated revenue of 23.73 trillion won (approximately US$16 billion) and operating profit of 1.67 trillion won (approximately US$1.12 billion) for the first quarter of 2026, marking a year-on-year increase of 4.3% in revenue and 32.9% in operating profit. The company recorded its highest-ever first-quarter revenue, supported by stable growth in core businesses and expansion in business-to-business segments, particul

Amazon India: Rising temperatures across India have led to increased demand for compact and energy-efficient air conditioners, particularly 1-tonne inverter models suited for small rooms and offices. Online discounts offered by platforms such as Amazon have made these systems more accessible to budget-conscious consumers, supporting higher adoption during the summer season. These units are designed to deliver stable cooling while reducing energy consumption through inverter t

Somany Ceramics India: Somany Ceramics Ltd has unveiled a new brand identity, marking a shift in its positioning from a traditional tile manufacturer to a broader home and building solutions provider. The updated identity reflects the company’s evolution over more than five decades and aligns with its expanding portfolio across tiles, bathware, and related product segments. The rebranding will be implemented across retail outlets, packaging, communication platforms, and digit

SCG Decor Thailand: SCG Décor Plc announced plans to shut down two ceramic tile plants in Thailand as part of efforts to address rising production costs and weaker market conditions. The closures are expected to take place within 2026, reducing the company’s total number of tile factories in the country from four to two. The decision follows sustained pressure from higher energy costs, particularly natural gas, along with increasing logistics and raw material expenses, which

Air Conditioners India: Rising temperatures exceeding 50 degrees Celsius across several parts of India have led to a sharp increase in demand for high-performance and heavy-duty air conditioners. Consumers are increasingly opting for models capable of operating efficiently under extreme climatic conditions, as standard units struggle to maintain cooling at such high temperatures. Online platforms have reported a surge in interest for these systems, reflecting a shift toward m

Haier China: Haier Smart Home Co Ltd reported revenue of 73.69 billion yuan (approximately US$10.7 billion) for the first quarter of 2026, reflecting a decline compared to the previous year amid softer demand conditions in key markets. Net profit attributable to shareholders reached 4.65 billion yuan (approximately US$0.67 billion), showing a sequential improvement compared to the previous quarter. The overall performance was influenced by weaker demand in North America and C

Mitsubishi Electric Japan: Mitsubishi Electric Corporation reported consolidated revenue of 5,894.7 billion yen (approximately US$36.71 billion) for fiscal year 2026, marking a 7% year-on-year increase supported by currency impact and pricing improvements. Operating profit reached 433.0 billion yen (approximately US$2.6 billion), while net profit attributable to shareholders rose to 407.7 billion yen (approximately US$2.53 billion), reflecting stronger profitability across ma

SCG Decor Thailand: SCG Décor Plc reported first-quarter 2026 revenue of 5.55 billion baht (approximately US$169 million), reflecting a 7% year-on-year decline due to weaker economic conditions in key markets and currency impacts. Despite lower revenue, profit attributable to shareholders increased by 14% to 247 million baht (approximately US$7.5 million), supported by cost control measures and operational efficiency. EBITDA stood at 780 million baht (approximately US$23.7 mi

Indian Startup Develops 50°C Air Conditioner with IIT Delhi INDIA: Climate-tech startup Optimist has developed a next-generation air conditioner capable of operating efficiently in temperatures up to 50°C, following an 18-month collaboration with IIT Delhi. The system has successfully completed pilot testing and is moving toward market launch as rising heat intensifies demand for resilient cooling solutions. The partnership focused on advanced engineering, including HVAC simu

TCL Opens Guangzhou Facility to Expand Air Conditioning Production China: TCL has inaugurated a new smart manufacturing base in Guangzhou as part of its expansion in air conditioning production. The facility supports the company’s growing global operations, with products sold across more than 160 countries and regions. The development follows the company reaching a cumulative production milestone of 100 million air conditioning units within five years, reflecting increased de

Roca Partners with Graha Bangunan Blitar to Expand Market Reach Indonesia: Graha Bangunan Blitar has entered into a partnership with Roca to expand the availability of sanitary products in Blitar and surrounding areas. The collaboration is aimed at strengthening distribution networks and supporting demand from the construction sector, including architects, contractors and other professionals. The initiative aligns with ongoing activity in the property sector, where access to

Gujarat Gas Reduces PNG Prices for Morbi Ceramic Units India: Gujarat Gas Ltd has reduced the price of piped natural gas (PNG) supplied to ceramic manufacturers in Morbi following industry concerns. The price has been lowered from INR 88 per cubic metre (approximately USD 1.05) to INR 77 per cubic metre (approximately USD 0.92) after negotiations. Despite the reduction, PNG remains around 48 percent more expensive than propane-LPG at INR 52 per standard cubic metre (approxima

Roca Partners with Graha Bangunan Blitar to Expand Market Reach in Indonesia Indonesia: Graha Bangunan Blitar has partnered with Roca to expand the availability of sanitary products in Blitar and nearby areas. The collaboration aims to strengthen distribution and support demand from the construction sector by offering a wider range of sanitary solutions for residential and project-based developments. The initiative reflects ongoing activity in the property sector, where acces

Rising AC Demand in India Faces Supply Constraints India: Demand for air conditioners in India has increased by around 20–25 percent in recent weeks, following a decline of 5–8 percent during March and April. However, supply has not kept pace, with retailers receiving only about 50 percent of their ordered volumes. The shortage is most pronounced in newer energy-efficient models, as compliance with updated government efficiency standards has made production more complex, part