Best of Business

Queenstown will need to double its infrastructure within 15 years to keep pace with growth, according to Southern Infrastructure chief executive Ross Copland.
Copland warned the resort town’s roads could reach capacity by the end of the decade - and said changes need to be made.
Infrastructure NZ chief executive Nick Leggett says Queenstown draws in a lot of visitors and it'll leave a bad taste if people can't get around properly.
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Following the release of last week's Budget, there's growing claims that Australians are looking across the Tasman with 'genuine envy'.
A recent article in The Australian claimed that with no capital gains tax, no stamp duty or land tax, and the opportunity to negatively gear, business owners and property investors have taken more interest in New Zealand as a result.
Australian independent economist Saul Eslake says this is likely just wishful thinking as a response to the recent Budget.
"People look over the ditch and see that New Zealand's top rate of 39 is lower than our top rate of 46...and that you don't really have a capital gains tax, other than on assets that are held for less than two years, so they might think that looks more attractive than Australia."
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The services sector continues to contract.
The latest Services Index rose 2.7 points to 48.9 – with anything below 50 signalling contraction.
New orders was the only category in expansion, sitting at 51.2, while employment remained negative for the 29th consecutive month.
BusinessNZ Advocacy Director Catherine Beard told Mike Hosking the figures are the result of the fuel situation due to the conflict in the Middle East.
It’s a shame, she says, as we started the year in quite positive territory.
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It's tourism's time to shine this week as TRENZ hits Auckland.
The country's largest tourism business event runs from today to Thursday at the International Convention Centre.
More than 12 hundred delegates will attend from key markets like the US and China, and it’s projected to inject more than $3 million into Auckland's economy.
Tourism Industry Aotearoa CEO Rebecca Ingram told Mike Hosking 16 thousand business meetings will take place.
She says the benefits are multi-layered as some will boost this summer, but most of it will be focused on the two after that.
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The BNZ-BusinessNZ Performance of Services Index (PSI) rose 2.7 points to 48.9, up from 46.2 in March.
A reading below 50 indicates the sector - which accounts for nearly three-quarters of the economy - is contracting.
Harbour Asset Management expert Shane Solly explained further.
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