Dubai Police have caught a beggar who owns three luxury cars and admitted to amassing large sums of money by asking people for help on the streets. The arrest is part of the emirate’s intensive anti-begging crackdown during the holy month of Ramadan.&nbsp;Brigadier Ali Al Shamsi, director of the Suspects and Criminal Phenomena Department, said the man would beg in public during the day by projecting an image of exhaustion and poverty, only to shed the disguise and drive off in a high-end car once his “shift” ended, the Khaleej Times reported.&nbsp;Large sums of money, estimated in the thousands of dirhams, were found in the beggar’s possession. The officer further noted that one individual had collected Dh25,000 and still continued to beg, despite the amount being sufficient to sustain him or fund his return home.&nbsp;The man allegedly crafted stories of destitution, poverty, and helplessness with such precision that authorities described him as almost professional.&nbsp;Under the UAE Federal Law No. 9 of 2018, begging carries a maximum penalty of three months in prison and a Dh5,000 fine. Those who organise begging rings or recruit individuals from abroad face up to six months’ imprisonment and fines of up to Dh100,000.&nbsp;Also Read: <a href="https://www.wionews.com/world/afghanistan-warns-of-decisive-action-if-pakistan-continues-war-1772196518103">‘Our hand can reach their necks’: Afghanistan warns of ‘decisive’ action if Pakistan continues war</a>&nbsp;As part of the “Combat Begging” campaign, Dubai Police have arrested 26 beggars of different nationalities during the first week of Ramadan.&nbsp;Ahead of Ramadan, Dubai Police also warned residents against falling victim to online begging scams during the holy month, urging the public not to engage with suspicious donation appeals circulating on websites and social media platforms.&nbsp;The Anti-Cybercrime Department at the General Department of Criminal Investigation said fraudsters and organised beggars exploit the spirit of compassion and generosity associated with Ramadan to obtain unlawful financial gains.

As part of the “Combat Begging” campaign, Dubai Police have arrested 26 beggars of different nationalities during the first week of Ramadan.

Dubai Police have caught a beggar who owns three luxury cars and admitted to amassing large sums of money by asking people for help on the streets. The arrest is part of the emirate’s intensive anti-begging crackdown during the holy month of Ramadan. Brigadier Ali Al Shamsi, director of the Suspects and Criminal Phenomena Department, said the man would beg in public during the day by projecting an image of exhaustion and poverty, only to shed the disguise and drive off in a high-end car once his “shift” ended, the Khaleej Times reported. Large sums of money, estimated in the thousands of dirhams, were found in the beggar’s possession. The officer further noted that one individual had collected Dh25,000 and still continued to beg, despite the amount being sufficient to sustain him or fund his return home. The man allegedly crafted stories of destitution, poverty, and helplessness with such precision that authorities described him as almost professional. Under the UAE Federal Law No. 9 of 2018, begging carries a maximum penalty of three months in prison and a Dh5,000 fine. Those who organise begging rings or recruit individuals from abroad face up to six months’ imprisonment and fines of up to Dh100,000. Also Read: ‘Our hand can reach their necks’: Afghanistan warns of ‘decisive’ action if Pakistan continues war As part of the “Combat Begging” campaign, Dubai Police have arrested 26 beggars of different nationalities during the first week of Ramadan. Ahead of Ramadan, Dubai Police also warned residents against falling victim to online begging scams during the holy month, urging the public not to engage with suspicious donation appeals circulating on websites and social media platforms. The Anti-Cybercrime Department at the General Department of Criminal Investigation said fraudsters and organised beggars exploit the spirit of compassion and generosity associated with Ramadan to obtain unlawful financial gains.

As part of the “Combat Begging” campaign, Dubai Police have arrested 26 beggars of different nationalities during the first week of Ramadan.

Dubai Police nab beggar who owns three luxury cars and big cash stash

Chinese demand for foreign luxury cars is weakening as buyers turn away from big-ticket purchases amid a slowing economy. 

Chinese Buyers Cut Back on Big-Ticket Auto Spending

The Jain community, renowned for its strong business background and proficiency, managed to strike an amazing bulk deal, securing a huge collective discount of over Rs 21 crore on the purchase of 190 luxury vehicles, including brands like Mercedes, BMW, and Audi. The deal with enormous discount was struck in a special initiative by the Jain International Trade Organisation (JITO), a not-for-profit community body with 65,000 members from across India, and highlights the significance of the community’s buying power and business prowess. JITO vice president Himanshu Shah described it as a “one-of-its-kind deal” with the luxury brands. The organisation collaborated with 15 dealers of top brands like BMW and Mercedes and negotiated prices for its members.&nbsp;&nbsp;JITO acted only as a facilitator and did not profit from the deal, Shah told news agency PTI.Shah revealed that most of the luxury cars were bought by Gujarat-based Jains. The cost of the cars ranged between Rs 50 lakh and Rs 1.25 crore and the vehicles were delivered between January and June. “It helped our members save Rs 21 crore in discounts,” said Shah.&nbsp;&nbsp;

<blockquote class="twitter-tweet"><a href="https://twitter.com/hashtag/WATCH?src=hash&amp;ref_src=twsrc%5Etfw">#WATCH</a> | Gujarat: Member of Jain International Trade Organisation (JITO) joins hands, buys 186 high-end luxury cars like BMW, Audi, and Mercedes; saves Rs 21 crores. Convener Amit Shah says, &quot;JITO JPoint is a project under JITO. JITO works on three things: service, knowledge,… <a href="https://t.co/HxmHyxqQhZ">pic.twitter.com/HxmHyxqQhZ</a>&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/1979920433613865417?ref_src=twsrc%5Etfw">October 19, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

&nbsp;Also Read: <a href="https://www.wionews.com/world/thieves-used-cherry-picker-angle-grinder-in-7-minute-louvre-museum-heist-pulled-off-like-a-breeze-1760880195775">Thieves used ‘cherry picker’, ‘angle grinder’ in 7-minute Louvre Museum heist, pulled off like a breeze</a>&nbsp;The initiative was driven by Nitin Jain, a community member, after some JITO members came up with the idea that they could negotiate discounts from car dealers by leveraging their purchasing power. Since no marketing cost was involved, even carmakers saw this as a win-win situation.&nbsp;“Since buying power is one of the key strengths of Jains, we came up with this idea of directly contacting the brands to ensure higher discounts on purchases our members make. The carmakers also saw a win-win situation and offered us discounts as this deal eliminated their marketing cost,” Jain said.&nbsp;Also Read: <a href="https://www.wionews.com/world/anti-trump-rallies-sweep-across-us-states-and-world-as-huge-crowds-turn-up-in-no-kings-protests-1760818449941">Anti-Trump rallies sweep across US and world as huge crowds turn up in No Kings protests</a>&nbsp;The initiative began with a few members, and soon more people from the community got interested after hearing about the hefty discounts.“Soon, other JITO members also started buying cars. In all, 190 cars were bought and over Rs 21 crore was saved. On average, each member saved between Rs 8 lakh and Rs 17 lakh, enough to buy another car for a family member,” said Jain.&nbsp;JITO is now coming with a new initiative called ‘Utsav’ for similar deals with major brands in jewellery, consumer durables and electronics.

Since buying power is one of the key strengths of Jains, they came up with this idea of directly contacting the brands to ensure higher discounts on purchases by members. The carmakers also saw a win-win situation and offered discounts as this deal eliminated their marketing cost.

The Jain community, renowned for its strong business background and proficiency, managed to strike an amazing bulk deal, securing a huge collective discount of over Rs 21 crore on the purchase of 190 luxury vehicles, including brands like Mercedes, BMW, and Audi. The deal with enormous discount was struck in a special initiative by the Jain International Trade Organisation (JITO), a not-for-profit community body with 65,000 members from across India, and highlights the significance of the community’s buying power and business prowess. JITO vice president Himanshu Shah described it as a “one-of-its-kind deal” with the luxury brands. The organisation collaborated with 15 dealers of top brands like BMW and Mercedes and negotiated prices for its members. JITO acted only as a facilitator and did not profit from the deal, Shah told news agency PTI. Shah revealed that most of the luxury cars were bought by Gujarat-based Jains. The cost of the cars ranged between Rs 50 lakh and Rs 1.25 crore and the vehicles were delivered between January and June. “It helped our members save Rs 21 crore in discounts,” said Shah.

Since buying power is one of the key strengths of Jains, they came up with this idea of directly contacting the brands to ensure higher discounts on purchases by members. The carmakers also saw a win-win situation and offered discounts as this deal eliminated their marketing cost.

Jain community members buy 190 luxury cars, get Rs 21 crore discount in bulk deal

Rolls-Royce built its first car in 1904. From the silent 10 hp engine to the iconic Spirit of Ecstasy, starry ceilings, hand-painted coachlines, and aircraft engines each detail is crafted with care.

Rolls-Royce built its first car in 1904. From the silent 10 hp engine to the iconic Spirit of Ecstasy, starry ceilings, hand-painted coachlines, and aircraft engines each detail is crafted with care.

6 things about the Rolls-Royce that might surprise you

In Pics | Shanghai Auto Show 2023: Luxury brands show off their swankiest models

Authorities in Romania confiscated a number of high-end vehicles from social media star Andrew Tate's Bucharest home. On Saturday, 11 vehicles, including a Rolls-Royce, BMW, and Mercedes-Benz, were reportedly observed being removed from the Tate complex outside of Bucharest in order to be transported to a storage facility.

Romanian authorities seize Tate's luxury car collection which costs upto $300,000

Mercedes feels SIP’s are giving the luxury car-maker a run for its money! India’s youth would rather invest than buy luxury cars. Is India’s youth wrong for investing?

Mercedes, no thanks. India's youth would rather invest in SIPs

Salon Prive moto show has returned to the grounds of Blenheim Palace for its annual festival. It celebrates the cream of the crop of rare and luxurious vehicles.

UK: Salon Prive motor show continues to amaze even after 17 years, rare and luxury cars on display

4,000 Luxury vehicles worth $401 million were burnt in a fire onboard cargo vessel Felicity Ace. There were 1,100 Porsches, 189 Bentleys along with hundreds of Lamborghinis & Audis. The blaze destroyed all these vehicles. Palki Sharma gets you a report.

Gravitas: 4,000 luxury cars worth $401 million destroyed in Cargo mishap

A Portuguese navy official has said that salvage crews are set to board a blazing ship&nbsp;carrying luxury cars.

The Felicity Ace, carrying around 4,000 vehicles including Porsches, Audis and Bentleys, some with lithium-ion batteries, caught fire on Wednesday last week.

Two ocean-going tugboats with firefighting equipment have hosed down the ship’s hull to cool it, according to the port of Horta harbormaster, Capt. Joao Mendes Cabecas, on the Azores island of Faial.

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-4000-luxury-cars-worth-401-million-destroyed-in-cargo-mishap-455789/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

The cause of the fire is not known, Mendes Cabecas said, though suspicion has fallen on lithium batteries in electric vehicles the Felicity Ace was taking from Germany to the United States.

“We know from what the captain told us that there were a lot of electric vehicles on board, as well as non-electric vehicles,” he said.

The fire broke out on a cargo deck where the vehicles were stowed, according to Mendes Cabecas, but when the alarm went off there was already too much smoke to make out where the blaze had started.

<a href="https://www.wionews.com/world/a-burning-cargo-ship-consisting-luxury-cars-is-adrift-in-mid-atlantic-454221">Also read |&nbsp;A burning cargo ship, consisting luxury cars, is adrift in mid-Atlantic</a>

Mendes Cabecas said there was currently no threat of pollution. Hoses are not being aimed inside the vessel, to avoid runoff from lithium batteries going into the sea.

Ship manager Mitsui OSK&nbsp;Lines Ltd (MOL) said in a statement the vessel was still on fire but stable, and that no oil leak had been reported so far. It also said the ship was drifting further from the Azores islands in the Atlantic ocean.

"Together with the all relevant parties, MOL is making every effort to contain the damage and resolve the situation as soon as possible," MOL said.

"When conditions are safe the salvage team will board the Felicity Ace for an initial assessment," MOL added.

The ship is carrying 2,000 metric tons (2,200 tons) of fuel and 2,000 metric tons (2,200 tons) of oil.

The weather in the area, 190 nautical miles (350 kilometers/220 miles) south of the Azores, is fair, with a swell of less than 2 metres (6.5 feet).

(With inputs from agencies)

A Portuguese navy official has said that salvage crews are set to board a blazing ship carrying luxury cars. The Felicity Ace, carrying around 4,000 vehicles including Porsches, Audis and Bentleys, some with lithium-ion batteries, caught fire on Wednesday last week.

A Portuguese navy official has said that salvage crews are set to board a blazing ship carrying luxury cars. The Felicity Ace, carrying around 4,000 vehicles including Porsches, Audis and Bentleys, some with lithium-ion batteries, caught fire on Wednesday last week. Two ocean-going tugboats with firefighting equipment have hosed down the ship’s hull to cool it, according to the port of Horta harbormaster, Capt. Joao Mendes Cabecas, on the Azores island of Faial. The cause of the fire is not known, Mendes Cabecas said, though suspicion has fallen on lithium batteries in electric vehicles the Felicity Ace was taking from Germany to the United States. “We know from what the captain told us that there were a lot of electric vehicles on board, as well as non-electric vehicles,” he said. The fire broke out on a cargo deck where the vehicles were stowed, according to Mendes Cabecas, but when the alarm went off there was already too much smoke to make out where the blaze had started. Also read | A burning cargo ship, consisting luxury cars, is adrift in mid-Atlantic Mendes Cabecas said there was currently no threat of pollution. Hoses are not being aimed inside the vessel, to avoid runoff from lithium batteries going into the sea. Ship manager Mitsui OSK Lines Ltd (MOL) said in a statement the vessel was still on fire but stable, and that no oil leak had been reported so far. It also said the ship was drifting further from the Azores islands in the Atlantic ocean. "Together with the all relevant parties, MOL is making every effort to contain the damage and resolve the situation as soon as possible," MOL said. "When conditions are safe the salvage team will board the Felicity Ace for an initial assessment," MOL added. The ship is carrying 2,000 metric tons (2,200 tons) of fuel and 2,000 metric tons (2,200 tons) of oil. The weather in the area, 190 nautical miles (350 kilometers/220 miles) south of the Azores, is fair, with a swell of less than 2 metres (6.5 feet). (With inputs from agencies)

Salvage crews set to board blazing ship carrying luxury cars in Atlantic Ocean

Police in Germany, Italy and Bulgaria detained 11 people on Wednesday and raided 46 residential and commercial buildings in an investigation into tax fraud by the Italian mafia involving the trade in luxury vehicles, German police said.

The main suspects who were detained belong to the "Ndrangheta", the most powerful mafia group in Italy, and are accused of forming a criminal organisation and of tax fraud worth 13 million euros ($15.12 million), police said.

The perpetrators illegally claimed value added tax (VAT) by selling exclusive cars several times in different European countries, police said in a statement.

The suspects will be brought before a magistrate shortly, the statement said.

Four people were detained in Germany, six in Italy and one in Bulgaria, said the police, who seized extensive evidence during the raids, including several high-value vehicles.

Police in Bavaria said that police and tax investigators in Augsburg had been investigating the case for more than a year, under the leadership of the European Public Prosecutor's Office.

The Ndrangheta, based in the southern region of Calabria, the toe of Italy's boot, has surpassed Sicily's more famous Cosa Nostra to become the most powerful organised crime group in the country and one of the largest in the world.

Police in Germany, Italy and Bulgaria detained 11 people on Wednesday and raided 46 residential and commercial buildings in an investigation into tax fraud by the Italian mafia involving the trade in luxury vehicles, German police said.

Police in Germany, Italy and Bulgaria detained 11 people on Wednesday and raided 46 residential and commercial buildings in an investigation into tax fraud by the Italian mafia involving the trade in luxury vehicles, German police said. The main suspects who were detained belong to the "Ndrangheta", the most powerful mafia group in Italy, and are accused of forming a criminal organisation and of tax fraud worth 13 million euros ($15.12 million), police said. The perpetrators illegally claimed value added tax (VAT) by selling exclusive cars several times in different European countries, police said in a statement. The suspects will be brought before a magistrate shortly, the statement said. Four people were detained in Germany, six in Italy and one in Bulgaria, said the police, who seized extensive evidence during the raids, including several high-value vehicles. Police in Bavaria said that police and tax investigators in Augsburg had been investigating the case for more than a year, under the leadership of the European Public Prosecutor's Office. The Ndrangheta, based in the southern region of Calabria, the toe of Italy's boot, has surpassed Sicily's more famous Cosa Nostra to become the most powerful organised crime group in the country and one of the largest in the world.

Police detain 11 across Europe in mafia probe of luxury cars

Even when the world is going through the coronavirus pandemic, luxury car makers are showing no signs of stress. Italian luxury car maker Ferrari is stuck to its 2021 target. It also increased its industrial cash flow.

Ferrari shows no signs of stress even amid COVID pandemic, sticks to its 2021 target

WION Wallet: 2019 worst year for luxury car sales in India

The Union Cabinet has approved a GST Council proposal to<a href="http://www.wionews.com/business-economy/suvs-luxury-cars-to-cost-more-as-gst-council-approves-hike-in-cess-18666" target="_blank"> hike cess on mid-sized, large cars and SUVs</a> to 25 per cent from 15 per cent.

Under the GST regime, cars are taxed at the highets tax bracket of 28 per cent. The cess is over an above that and helps in buildinga corpus to compensate the states for any loss in the implementation of GST.

The earlier cess of 15 per cent led to a reduction in prices vis-a-vis total incidence in pre-GST regime.

After the GST was introduced, prices of most of the SUVs were cut between Rs 1.1 lakh and Rs 3 lakh.

With the additional cess getting Cabinet&#39;s nod, the prices of SUVs and luxury segment vehicles are set to rise. 
&nbsp;

The rate has been hiked to 25% from the earlier 15%

The Union Cabinet has approved a GST Council proposal to hike cess on mid-sized, large cars and SUVs to 25 per cent from 15 per cent. Under the GST regime, cars are taxed at the highets tax bracket of 28 per cent. The cess is over an above that and helps in buildinga corpus to compensate the states for any loss in the implementation of GST. The earlier cess of 15 per cent led to a reduction in prices vis-a-vis total incidence in pre-GST regime. After the GST was introduced, prices of most of the SUVs were cut between Rs 1.1 lakh and Rs 3 lakh. With the additional cess getting Cabinet's nod, the prices of SUVs and luxury segment vehicles are set to rise.

Union Cabinet approves hike in cess on luxury cars, SUVs

South Korea&#39;s new president was sworn in today, just a day after a landslide election victory, and immediately declared his willingness to visit Pyongyang amid high tensions with the nuclear-armed North.

Left-leaning Moon Jae-In, a former human rights lawyer, backs engagement with North Korea in the quest for peace -- in contrast to the threatening rhetoric from the Trump administration in recent weeks.

&quot;If needed I will fly to Washington immediately,&quot; Moon said in an inauguration speech after taking the oath of office in front of lawmakers at Seoul&#39;s National Assembly building.

&quot;I will also go to Beijing and Tokyo and even Pyongyang in the right circumstances.&quot;

Moon will have a difficult diplomatic path to tread in his approach to the North, which dreams of a missile capable of delivering a nuclear warhead to the continental United States, and has vast artillery forces trained on Seoul.

At the same time the South is embroiled in disputes with China over a US missile defence system, and former colonial occupier Japan over wartime history.

He named former journalist Lee Nak-Yon, a four-term lawmaker, as prime minister -- a largely coordinating role and appointed a new head of the National Intelligence Service, Suh Hoon, who played a key role in preparing the past two inter- Korea summits of 2000 and 2007.

Domestically, Moon begins his term facing multiple challenges, including the aftermath of the huge corruption scandal that saw his conservative predecessor Park Geun-Hye impeached and swept him to power, but leaves the country bitterly divided.

Ahead of the swearing-in, Moon met leading lawmakers of Park&#39;s Liberty Korea party -- which has repeatedly accused him of being a Pyongyang sympathiser -- to &quot;beg&quot; for their cooperation.

&quot;I will be a president to all people,&quot; he said in his speech, promising to &quot;serve even those who did not support me&quot; and remain &quot;at eye-level with the people&quot;.

After the low-key ceremony he was driven through the streets of the capital to the Blue House, standing in the back of his limousine and waving to supporters.

Moon took 41.1 per cent of the vote in yesterday&#39;s election, far ahead of Hong Joon-Pyo of Park&#39;s Liberty Korea party, on 24.0 per cent, and centrist Ahn Cheol-Soo on 21.4 per cent.

The 64-year-old is bespectacled, reserved and mild- mannered, although some critics describe him as bland, indecisive and uninspiring.

&quot;I liked the no-frills inauguration event and his down- to-earth style,&quot; said Lee Jeong-Mi, a Seoul office worker who watched him pass by. &quot;He really looks like a true people&#39;s president.&quot;

Since the beginning of last year the North -- which says it needs atomic weapons to defend itself against invasion -- has mounted two nuclear tests and a series of missile launches.

In recent months the Trump administration has suggested a military option is on the table, escalating fears of conflict -- although the US president changed tone last week, saying he would be &quot;honoured&quot; to meet the North&#39;s young ruler, Kim Jong-Un.

Moon is expected to have his first conversation with Trump in a phone call Wednesday, Yonhap news agency said, citing unnamed Seoul diplomats.

Chinese President Xi Jinping congratulated Moon on his election, saying he would be willing to work with him on a basis of &quot;mutual understanding and mutual respect&quot;, according to China&#39;s official Xinhua news agency.

The phrasing is Beijing&#39;s diplomatic code for acceptance of its stance. The South&#39;s biggest trading partner, China has been infuriated by the deployment of the US anti-missile system THAAD in the country, which it sees as a threat to its own military capability.

It has taken a series of moves against South Korean firms seen as economic retaliation.

At home, Moon will have to deal with slowing growth, soaring unemployment and public frustration over widening inequality in wealth and opportunities.

The stellar expansion that pulled a war-ravaged country out of poverty has slowed down in recent years as the economy matured, with the jobless rate among those aged under 30 hitting record highs.

Such frustrations fuelled anger over Park&#39;s scandal, which exposed the cosy and corrupt ties between regulators and powerful conglomerates that have endured for decades.

The family-run giants, called chaebols, dominate Asia&#39;s fourth-largest economy but have come under fire in recent years for running their global businesses like personal fiefdoms, with minimum scrutiny by investors and regulators.

(AFP)

German carmaker BMW plans to double its production capacity in China

South Korea's new president was sworn in today, just a day after a landslide election victory, and immediately declared his willingness to visit Pyongyang amid high tensions with the nuclear-armed North. Left-leaning Moon Jae-In, a former human rights lawyer, backs engagement with North Korea in the quest for peace -- in contrast to the threatening rhetoric from the Trump administration in recent weeks. "If needed I will fly to Washington immediately," Moon said in an inauguration speech after taking the oath of office in front of lawmakers at Seoul's National Assembly building. "I will also go to Beijing and Tokyo and even Pyongyang in the right circumstances." Moon will have a difficult diplomatic path to tread in his approach to the North, which dreams of a missile capable of delivering a nuclear warhead to the continental United States, and has vast artillery forces trained on Seoul. At the same time the South is embroiled in disputes with China over a US missile defence system, and former colonial occupier Japan over wartime history. He named former journalist Lee Nak-Yon, a four-term lawmaker, as prime minister -- a largely coordinating role and appointed a new head of the National Intelligence Service, Suh Hoon, who played a key role in preparing the past two inter- Korea summits of 2000 and 2007. Domestically, Moon begins his term facing multiple challenges, including the aftermath of the huge corruption scandal that saw his conservative predecessor Park Geun-Hye impeached and swept him to power, but leaves the country bitterly divided. Ahead of the swearing-in, Moon met leading lawmakers of Park's Liberty Korea party -- which has repeatedly accused him of being a Pyongyang sympathiser -- to "beg" for their cooperation. "I will be a president to all people," he said in his speech, promising to "serve even those who did not support me" and remain "at eye-level with the people". After the low-key ceremony he was driven through the streets of the capital to the Blue House, standing in the back of his limousine and waving to supporters. Moon took 41.1 per cent of the vote in yesterday's election, far ahead of Hong Joon-Pyo of Park's Liberty Korea party, on 24.0 per cent, and centrist Ahn Cheol-Soo on 21.4 per cent. The 64-year-old is bespectacled, reserved and mild- mannered, although some critics describe him as bland, indecisive and uninspiring. "I liked the no-frills inauguration event and his down- to-earth style," said Lee Jeong-Mi, a Seoul office worker who watched him pass by. "He really looks like a true people's president." Since the beginning of last year the North -- which says it needs atomic weapons to defend itself against invasion -- has mounted two nuclear tests and a series of missile launches. In recent months the Trump administration has suggested a military option is on the table, escalating fears of conflict -- although the US president changed tone last week, saying he would be "honoured" to meet the North's young ruler, Kim Jong-Un. Moon is expected to have his first conversation with Trump in a phone call Wednesday, Yonhap news agency said, citing unnamed Seoul diplomats. Chinese President Xi Jinping congratulated Moon on his election, saying he would be willing to work with him on a basis of "mutual understanding and mutual respect", according to China's official Xinhua news agency. The phrasing is Beijing's diplomatic code for acceptance of its stance. The South's biggest trading partner, China has been infuriated by the deployment of the US anti-missile system THAAD in the country, which it sees as a threat to its own military capability. It has taken a series of moves against South Korean firms seen as economic retaliation. At home, Moon will have to deal with slowing growth, soaring unemployment and public frustration over widening inequality in wealth and opportunities. The stellar expansion that pulled a war-ravaged country out of poverty has slowed down in recent years as the economy matured, with the jobless rate among those aged under 30 hitting record highs. Such frustrations fuelled anger over Park's scandal, which exposed the cosy and corrupt ties between regulators and powerful conglomerates that have endured for decades. The family-run giants, called chaebols, dominate Asia's fourth-largest economy but have come under fire in recent years for running their global businesses like personal fiefdoms, with minimum scrutiny by investors and regulators. (AFP)

BMW to raise production capacity to 3 million cars by 2020: Report

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