Treasury is warning that New Zealand's government debt will hit 200% of GDP by 2065 ‒ or $246,500 per person ‒ if major policies are not changed, The Post reported. The agency is not recommending any specific policy but notes that with an ageing population the costs of superannuation and healthcare will spiral upwards, without enough working age people to keep paying the taxes for such policies. It noted that New Zealand had seven working age Kiwis for every retiree in 1960, four for every retiree now, and but would hit just two working Kiwis for every retired Kiwi by 2065.

Australian consumer prices rose at the fastest annual pace in a year in August after a hot July, suggesting some upside to inflation that prompted markets to pare back the chances of imminent policy easing, Reuters reported. The Australian dollar rose 0.3% to $0.6619, while three-year government bond futures fell 7 ticks to 96.45, the lowest in three weeks. Investors doubled down on bets that the Reserve Bank of Australia will skip a move in interest rates next week given the recent flow of data has been on the strong side.

Chinese automakers are expanding in Europe, betting on their competitive pricing and advanced technology to break into a market traditionally dominated by European and American brands, amid a global shift towards electric vehicles, Reuters reported. This expansion has stoked trade tensions between Brussels and Beijing, including a row over EU tariffs on Chinese-made EVs, imposed to protect European producers. Read more

The New Zealand government has appointed Anna Breman from Sweden’s central bank as the next governor of the Reserve Bank of New Zealand, the Wall Street Journal reported. Breman has been deputy governor of Riksbank since 2019 and her appointment follows a global talent search that involved 300 candidates, said New Zealand Finance Minister Nicola Willis in a statement. The search for a new governor began after the sudden exit from the central bank of former Gov. Adrian Orr in March.

U.S. wind turbine blade maker TPI Composites has completed the sale of its Turkish operations after receiving approval from the US Bankruptcy Court in its chapter 11 proceedings, WindPowerMonthly.com reported. The blade maker announced the agreement to sell the assets to UAE-based company XCS Composites earlier this month as part of its ‘reorganisation bankruptcy’ proceedings. In a 4 September filing in Texas, TPI asked for the court to approve the transaction by 19 September, warning that there would be “serious risk” of XCS walking away from the transaction otherwise.

Indonesia and the European Union have signed a long-awaited trade deal that comes as Asian countries reposition themselves in a landscape reshaped by U.S. tariffs, the Wall Street Journal reported. The pact, which Jakarta and the EU have been negotiating for over nine years, was inked Tuesday during European Commissioner for Trade & Economic Security Maroš Šefčovič’s visit to Indonesia. “This agreement eliminates over 98% of tariffs, removing nearly all barriers to trade and opening new pathways for investment,” the European official said.

Delhi-based all-electric taxi service company Evera is in discussions with Gensol’s insolvency resolution professional (IRP) and its committee of creditors (CoC) to lease 1,000 cars from Gensol’s fleet of 4,000 vehicles, which are currently under the National Company Law Tribunal (NCLT), the Economic Times of India reported.

A Melbourne lawyer has been sentenced to three years’ imprisonment, with a non-parole period of one year, for perverting the course of justice and running an offshore scam to help his clients avoid bankruptcy, according to a joint release from the Australian Federal Police and Australian Financial Security Authority. The man used his law firm to create fictitious personal debts for two clients so they could gain a favourable outcome from bankruptcy and insolvency processes.