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Housing Development Finance Corp (HDFC), India's leading mortgage lender, on Friday posted an increase of slightly more than 17 per cent in standalone net profit to Rs 1,173 crore for the April-June quarter of 2013.

The private sector mortgage lender's net interest income (NII) - the difference between interest it earned and it paid out - also jumped at a similar rate to settle at Rs 1,794 crore.

Analysts, polled by CNBC TV18, had projected a growth of 20 per cent each for both the company's net profit and NII.

Multinational retail giant Walmart violated Reserve Bank of India (RBI) and Foreign Exchange Maintenance Act (Fema) regulations in 2010, the Central Bureau of Investigation (CBI) said on Friday.

In a letter to Rajya Sabha member M P Achuthan, CBI Superintendent of Police V N Verma stated that a scrutiny of Walmart's investments in Bharti Group's retail business through the foreign direct investment (FDI) route violated the regulations.

Reliance Industries Ltd (RIL) enjoyed a year-on-year jump of 18.9 per cent in net profit for the three months ended June 30 this year, thanks to improved margins in refining business and strong growth in other income.

In a statement released on Friday, RIL said that its net profit jumped from Rs 4,503 crore during the April-June quarter of 2012 to Rs 5,352 crore in the same of 2013.

Gross refining margin jumped to $8.4 a barrel during the three months ended June 30, up from $7.6 a barrel during the corresponding period of the previous year.

Government officials form the leading economies of the world will call for stricter rules for regulation of taxes in the global economy.

Economic officials are expected to agree to stricter global tax laws and even discuss steps taken by countries to protect selective industries by tax breaks. A 40-page work plan has been prepared and is expected to be endorsed by the G20 in Moscow. The new plan would help in shaping the new international tax system in order to facilitate fair operations by global companies.

According to the latest data released, the unemployment rate in the US has remained unchanged at 7.6 per cent during the month of June from May.

Data from the Bureau of Labor Statistics showed that a total of nineteen states had lower unemployment rate that the national average while nine states and the District of Columbia had a higher unemployment rate during the month. Meanwhile, the unemployment rose in half of the states, fell only in 11 states and remained unchanged in 11 states and the District of Columbia.

Three senior level management officials of GlaxoSmithKline are now in China to prepare a response to the allegations of bribery and corruption in the country.