Spain's Princess Cristina found not guilty in tax fraud case

In a wide-ranging tax fraud case that captivated Spain, Princess Cristina was found not guilty Friday of being an accessory to fraud but her husband was convicted and sentenced to more than six years in prison.

A panel of judges ruled that Cristina, the 51-year-old sister of King Felipe VI, will be required to pay nearly 265,000 euros (over $280,000) in fines because the court considers that she indirectly benefited from the fraud.

Indian government cuts taxes, pledges to boost rural economy

India's finance minister pledged relief for middle class taxpayers and small and medium-sized companies on Wednesday, saying the government would spend billions of dollars to double farmers' incomes, upgrade ramshackle infrastructure and provide cheap housing.

In presenting to Parliament the budget for fiscal year that starts April 1, Finance Minister Arun Jaitley said the economy was doing well despite slowing growth in other emerging economies and a massive demonetization order late last year that affected the country's mostly cash-based business activities.

India scraps high currency notes overnight to fight graft

India scrapped its highest-denomination currency notes overnight, delivering a blow to black-market money launderers but plunging hundreds of millions of common citizens holding cash savings into fear and uncertainty.

Within hours of Prime Minister Narendra Modi announcing the surprise move in a televised address, people thronged to ATMs, standing in long lines in hopes of grabbing bills that might still be in circulation on Wednesday.

India's Modi: cooperation with Swiss on tax-evasion fight

Indian Prime Minister Narendra Modi says his country and Switzerland have a "shared priority" in fighting tax evasion and the practice of squirreling away "black money" in Swiss banks.

Modi spoke Monday to reporters alongside Switzerland's president in a brief stop in Geneva as part of a five-country trip. Modi's next stop is Washington.

The Indian leader pointed to "the need for an early and expeditious exchange of information to bring to justice the tax offenders."