Reliance Industries reported a 27.8% rise in its second quarter net profit, beating forecasts. Chairman Mukesh Ambani said improved refining margins and high operating rates across manufacturing facilities led to record results. Honda recalled 528,000 vehicles worldwide due to potential issues with a master brake cylinder seal made by the same Japanese supplier as Toyota, which recalled 1.5 million vehicles for the same issue. China ordered banks to only offer a maximum 15% discount on mortgage interest rates, down from the previous 30%, to discourage property purchases and tighten bank lending policies. The Asian Development Bank chief warned Asian nations to carefully manage large capital inflows to avoid remedies that could destabilize economies.