Even during the boom in Turnamics manufacturing brought on by the bike industry, Spiegel had never been a biker. His primary outlet for recreation was whitewater kayaking, but the realities of a growing family and a demanding job had pushed him into a phase that many kayakers experience. Risk tolerance and free time begin to wane, and the aging kayaker starts to see the appeal of land-based alternatives. “Having kids made me realize that risking my life kayaking probably wasn’t the smartest thing. I also needed something that would get me in shape with less of a time commitment, so I started riding.” More Biking in the Blue Ridge from our September Bike Issue Here A previous version of this story incorrectly stated that Cane Creek was an offshoot of RockShox. Cane Creek actually began as Japanese component manufacturer DiaCompe (a founding partner of RockShox) before a name change in 1992 and transition to employee ownership some years later. The company has been operating out of its Western North Carolina facility since 1974. In an effort to remain afloat, Spiegel took on a contract with local component manufacturer Cane Creek. In addition to high-end bike headsets and suspension products, Cane Creek was looking to produce its own line of hubs, which transfer power from the rider to the rear wheel by engaging a drive ring mechanism when the pedals turn. Hubs are a complex part that must be built to withstand the forces produced by the strongest riders, with the durability to take years of battering on a mountain bike. It was a tall order. Spiegel reminisces about the gamble, admitting that “They didn’t have money to pay me, but it would be my design and they would be the marketer. I spent a couple years and a quarter-million dollars trying to develop a hub. Ultimately, I couldn’t make it light enough and strong enough, so they dropped the project.” The Beginning of a Legacy Over the years, Spiegel produced parts for everything from nuclear submarines to medical devices to aircraft landing gear, but the humble bike hub had him stumped, and the design was shelved for a decade. Of course, riding brought Spiegel face-to-face with his old nemesis – the hub project. “Every time I rode, I started thinking about those old designs and how they kicked my ass.” Those rides led to new ideas, and he would stay in the machine shop late at the night and emerge the next morning with prototypes ready to run. “When I finally came up with good stuff, I decided to launch the company.” Trey Thomas rides Bennett Gap in Pisgah National / photo by Joe Hoeper As a tip of the hat to the eight mostly failed ventures that came before, Spiegel named his new wheel company Industry Nine – i9 for short. I9’s first hub was called the Legacy, and while it gained a niche following, there was room for improvement. Besides excessive weight and drag, the bearings in the hub tended to wear out early and cause annoying creaking noises. The team went back to the drawing board. Industry Nine’s long and winding path to success The next iteration was called the Torch, and the vast improvements in every category garnered immediate attention from mountain bikers around the country. Thanks to some innovative engineering, turning the cranks just three degrees would allow the hub to engage the rear wheel. At a time when most hubs required 15 degrees of pedaling to reach engagement, it was a standout that managed to keep weight and drag to a minimum without sacrificing durability. The Torch hub also generated a literal buzz. While coasting, the sound of each of the six pawls engaging with the drive ring produced a signature sound that’s been likened to a swarm of angry bees. Since the Torch, i9 has continued to reinvent the bike wheel with eye-catching anodization, high-strength straight-pull spokes, and a breakthrough new hub called the Hydra. Today, the multimillion-dollar company occupies a building next to the revitalized Turnamics machine shop, employing 45 people and utilizing about 60 percent of the manufacturing capacity of Turnamics’ additional 45-person staff. Bike culture at i9 is ubiquitous. The manufacturing floor is covered in employee rides, from the burliest enduro rigs to gravel grinders and single speeds. There’s even a pump track behind the shop for lunch breaks, and it’s seen more than a few backflips. Spiegel’s manufacturing company itself went through plenty of iterations, but his persistence paid off. The evidence isn’t just in Asheville. Trails around the world are buzzing with the sound of i9 hubs, and every trailhead parking lot features wheels in a kaleidoscope of colors. For at least one determined entrepreneur, the ninth time is the charm. No matter how good things get, they’re never good enough for Spiegel and his engineers. “I play around with new ideas constantly. Test them out, see the strengths and weaknesses, refine them. We’re always working toward the next thing.” With advanced manufacturing capabilities onsite, the innovation produced at i9 is likely to continue. “Because we manufacture everything here, when we do have a new idea, we can pretty much immediately make prototypes and start testing them rather than waiting. No matter what we’re making, we’ll go through tons of iterations before we reach the final product.” When Clint Spiegel graduated college and returned to Asheville to work in his family’s Turnamics, Inc. machine shop, the facility was ramping up production for mountain bike suspension company RockShox. In a few short years, Rockshox relocated to California and moved production overseas. It was a crippling blow in an industry where work was slowly drying up. Unable to compete with the low labor costs of international manufacturing, the future of Turnamics was looking grim. Industry Nine has reinvented the bike wheel. / photo by Burke Lawrence Updated on October 15:
“The state is stronger than any individual… We must not allow anything to become an obstacle to Serbia’s path towards the European Union,” Vucic said. “This is a cunning and dirty plot against me… All those proven guilty who I know will end in prison. The fact that I know them is not protection but a handicap for them because I will be even more ruthless because they betrayed my trust,” Dacic told reporters. Organized crime prosecutor Miljko Radisavljevic said he had told police to “collect data on alleged meetings” between top state officials and members of a “narco-clan” led by Darko Saric, an alleged Balkan cocaine king who has been on the run for more than four years. Serbia obtained EU candidate status last March, but has yet to be given a date for membership talks. The decision is conditioned with further progress in a EU-sponsored dialogue with breakaway Kosovo. Serbian prosecutors are investigating alleged contacts between top state officials and suspected organized criminals after reports surfaced that Prime Minister Ivica Dacic had met a key aide of an alleged drug kingpin, an official said on February 6. For weeks, Serbian media have speculated about alleged contacts between top government officials with Saric’s aides and suspected drug traffickers. By Dialogo February 08, 2013 “All that is happening is unpleasant and difficult, but we are solving these cases once and for all,” said Deputy Prime Minister Aleksandar Vucic, leader of the conservative Serbian Progressive Party, the country’s strongest political force. The affair has rocked the uneasy ruling coalition between Vucic’s party and socialists led by Dacic, but both leaders have insisted that the government, formed last July, would not collapse. Dacic, who at the time was Serbia’s interior minister, said he had met one of Saric’s aides in 2008, but denied any wrongdoing. Vucic said his party would not seek early elections, but warned “no one will be spared” during the investigation. Saric and his 19-member group have been on trial in absentia on charges of cocaine smuggling from South America to Europe. He has also been indicted for money laundering in Serbia.
By Erick Foronda / Diálogo September 19, 2019 More than 7,000 members of the Armed Forces, police, and firefighters continue to work tirelessly to fight wildfires in the Bolivian Amazon that have already wiped out nearly 5 million acres, according to official figures from the Evo Morales government.About 18 aircraft and more than 200 vehicles take part in the operation to control the fires that have destroyed forests since August in Chiquitanía, a region of Santa Cruz department on the border with Brazil and Paraguay. The fire has damaged five forest reserves, home to more than 550 animal species and more than 50 native plants, the Bolivian government said.In early September, Bolivian firefighting efforts received support from France, with the arrival of 38 specialized firefighters and drone operators trained for fire reconnaissance and localization missions, as well as 2 tons of donations, including water pumps and personal protection equipment. The French assistance is in addition to the regional support coming from Peru, with two helicopters that can carry 790 gallons of water, and from Argentina, which sent 85 members of the White Helmet Commission (a humanitarian civil organization under the Ministry of Foreign Affairs) along with 200 service members and 40 vehicles.Through the U.S. Agency for International Development (USAID), the United States also contributed with the delivery of 2,000 units of equipment for firefighters, valued at $3 million. On September 9, a Russian bomber aircraft (with capacity to unload 13,200 gallons of water) joined the extinguishing efforts of the Supertanker — the largest firefighting plane in the world — and the Boeing CH-47 Chinook helicopter, which have water transport capacities of 39,600 and 3,100 gallons, respectively (both aircraft were hired through U.S. companies.)“We are grateful for all the international solidarity that continues to grow,” Morales said in a press release.In early September, Morales met with experts of international organizations such as the World Bank, the Inter-American Development Bank, the United Nations, and the European Union, in addition to the U.S. and U.K. Embassies, to devise a fire prevention, action, and recovery plan. The Bolivian president also took part in a summit in Leticia, Colombia, on September 6, where seven of the Amazon countries agreed on protection measures for the Amazon, the largest rainforest in the world.Deforestation, illegal mining, illicit crops, and cattle farming in prohibited areas are the most serious threats to the Amazon. Sixty percent of the Amazon jungle is in Brazil, while the rest extends through Colombia, Bolivia, Ecuador, Guyana, French Guyana, Peru, Suriname, and Venezuela.Environmental organizations and advocates of indigenous rights have accused the Morales government of being responsible for the fires, after modifying a decree which regulates production on forest lands. The decree, passed in July, authorizes controlled fires for agricultural purposes in the Santa Cruz and Beni departments, which have been affected by the fires.On September 9, Amnesty International asked the Bolivian government to suspend the decree and demanded punishment for those responsible. “Bolivian authorities must conduct a scientific and independent investigation to find out the origin of this serious crisis,” said María José Veramendi Villa, South America researcher for the nongovernmental organization.
Sign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York Thousands of Occupy Wall Street protestors, environmentalists and anti-climate change activists “flooded” Lower Manhattan Monday on the eve of a United Nations Climate Summit, among other reasons, to raise awareness about the devastating effects of global warming and its connection to corporate America.Demonstrators demanded justice for what they described as Wall Street’s profiteering and perpetuation of what they deem a severe “climate crisis.”Organizers hosted civil disobedience training sessions at Battery Park prior to marching on Wall Street, sharing codes and signs with each other so large groups could sit-in all at once, also dispersing pamphlets with the course’s route and legal representation information for those arrested.Speakers included a host of activists from across the globe, among them, Pulitzer Prize-winning journalist Chris Hedges.“No one will stop [Wall Street profiteers] but the people!” he boomed from “The People’s Microphone,” whereby others within earshot repeat the main speaker’s message so all can hear. “We are the people! This means revolution!”Pulitzer Prize-winning journalist Chris Hedges (far left) joins other speakers at a Flood Wall Street rally in Battery Park prior to its march on Wall Street Sept. 22, 2014. (Rashed Mian/Long Island Press)The mass demonstration-turned-mass-sit-in, dubbed “Flood Wall Street,” which organizers anticipate will result in droves of arrests, settled in the middle of streets throughout the financial district.Wearing blue, carrying signs and singing a pre-practiced anti-capitalism song, the protestors halted traffic, climbed buses and telephone poles and overflowed police barricades while teams of news crews and journalists ran alongside them.Early on, the protestors deviated from a path cleared by police, instead zig-zagging through narrow roads cluttered with trapped taxis, tour buses and other vehicles.For the most part, it was a peaceful morning, as New York City police officers accommodated the flood of people, watching and even opening barricades for those who either wanted to enter or exit the sit-in.Protestors waved flags and toted huge signs that read “Flood Wall Street” and “Capitalism = Climate Chaos” as they marched, also hurling a giant, 15-foot high inflatable “Carbon Bubble”–which was eventually burst by police as the crowd rolled it atop a 300-foot unfurled banner.“People gonna rise with the water,” they sang. “We’re gonna calm this crisis down. I hear the voice of my great-granddaughter, singing ‘Shut down Wall Street now!’”Flood Wall Street protestors rally among the war memorials at Battery Park before marching on Wall Street Sept. 22, 2014. (Rashed Mian/Long Island Press)Thousands of Occupy Wall Street protestors, environmentalists and anti-climate change activists “flooded” Lower Manhattan Monday on the eve of a United Nations Climate Summit, among other reasons, to raise awareness about the devastating effects of global warming and its connection to corporate America.Demonstrators demanded justice for what they described as Wall Street’s profiteering and perpetuation of what they deem a severe “climate crisis.”Organizers hosted civil disobedience training sessions at Battery Park prior to marching on Wall Street, sharing codes and signs with each other so large groups could sit-in all at once, also dispersing pamphlets with the course’s route and legal representation information for those arrested.Speakers included a host of activists from across the globe, among them, Pulitzer Prize-winning journalist Chris Hedges.“No one will stop [Wall Street profiteers] but the people!” he boomed from “The People’s Microphone,” whereby others within earshot repeat the main speaker’s message so all can hear. “We are the people! This means revolution!”The mass demonstration-turned-mass-sit-in, dubbed “Flood Wall Street,” which organizers anticipate will result in droves of arrests, settled in the middle of streets throughout the financial district.Wearing blue, carrying signs and singing a pre-practiced anti-capitalism song, the protestors halted traffic, climbed buses and telephone poles and overflowed police barricades while teams of news crews and journalists ran alongside them.Early on, the protestors deviated from a path cleared by police, instead zig-zagging through narrow roads cluttered with trapped taxis, tour buses and other vehicles.For the most part, it was a peaceful morning, as New York City police officers accommodated the flood of people, watching and even opening barricades for those who either wanted to enter or exit the sit-in.Protestors waved flags and toted huge signs that read “Flood Wall Street” and “Capitalism = Climate Chaos” as they marched, also hurling a giant, 15-foot high inflatable “Carbon Bubble”–which was eventually burst by police as the crowd rolled it atop a 300-foot unfurled banner.“People gonna rise with the water,” they sang. “We’re gonna calm this crisis down. I hear the voice of my great-granddaughter, singing ‘Shut down Wall Street now!’”Flood Wall Street comes on the heels of the “People’s Climate March” Sunday, which drew more than 300,000 protestors into Upper Manhattan in anticipation to the climate summit.“The Earth is in crisis,” declared a jubilant “Magick,” from San Francisco, one of several hundred who plopped down in the middle of the street in front of Wall Street’s famous bull statue near the corner of Morris Street and Broadway. “We are all part of a cult of capitalism that’s taken over the planet.“Look how they barricaded us in,” she continued. “We’re prisoners right now trying to demonstrate with this Earth.“If we are connected with the Earth, we will all find a way to be resilient,” she added, before asking a police officer why she and the sea of other protestors were “barricaded in.”The sea of protestors will be heading to “flood” the New York Stock Exchange for the 4 p.m. closing bell.Flood Wall Street comes on the heels of the “People’s Climate March” Sunday, which drew more than 300,000 protestors into Upper Manhattan in anticipation to the climate summit.“The Earth is in crisis,” declared a jubilant “Magick,” from San Francisco, one of several hundred who plopped down in the middle of the street in front of Wall Street’s famous bull statue near the corner of Morris Street and Broadway. “We are all part of a cult of capitalism that’s taken over the planet.“Look how they barricaded us in,” she continued. “We’re prisoners right now trying to demonstrate with this Earth.“If we are connected with the Earth, we will all find a way to be resilient,” she added, before asking a police officer why she and the sea of other protestors were “barricaded in.”The sea of protestors will be heading to “flood” the New York Stock Exchange for the 4 p.m. closing bell.
1SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Last week, I was in Dallas. In between credit union visits, I stopped to have some lunch.I hate eating by myself in restaurants. I always have. But last week, I had no choice.So it was me and my iPhone.I’m fairly social, so I couldn’t help but pick up on the conversation next to me.Two men from the oil industry were chewing the fat. One was complaining about an employee from a business he worked with from time to time.“I tell you, he was a ghost,” the guy joked. “You’d catch glimpses of him from time to time. But when you were looking for him or really needed him, he was never there. I’m telling you, Todd was AWOL!”The other man nodded. It became clear that they both worked with Todd. Over the next few minutes, they traded “Todd” stories. Each one was worse than the other.But then they changed subjects. It turns out that the same company employed someone named Judy. She seemed to be the one that fixed all the problems that Todd created. Or ignored. continue reading »
Zabok High School, Split Tourism and Catering School, Osijek Catering and Tourism School, Opatija Catering School, Pula School of Tourism, Catering and Trade and Dubrovnik Tourism and Catering School will be the official centers of vocational education in the tourism and catering sector in Croatia.This was confirmed at the official appointment of 25 vocational schools to regional centers of competence in the sectors of tourism and hospitality, mechanical engineering, electrical engineering and computer science, agriculture and health, held at the Ministry of Science and Education. It is a project worth almost 500 million kuna secured from EU funds, intended for the development of human resources in the tourism and hospitality sector. In addition to the current scholarship programs for students of hospitality and tourism professions and cooperation with employers in the sector, Regional centers of competence as a system of dual education, they should further strengthen the interest in occupations in tourism and hospitality, provide more practice for students and facilitate entry into a world of work where innovation and an entrepreneurial approach are particularly valued.”In a country of exceptional tourist potential such as Croatia, we direct our efforts and available resources towards education, activation and popularization of tourist and catering professions. Therefore, I am extremely pleased that through the Regional Competence Centers we will provide quality and modern training of staff for tourism and hospitality, with the active support and cooperation of top experts from the public and private sectors. I believe that this project starts a new era for human resources in tourism for the benefit of employees who will gain top knowledge in accordance with modern market trends, but also employers who will get a quality workforce with practical experience. “, said Minister of Tourism Gary Cappelli, adding that in this way the Centers will also receive new equipment and accommodation facilities intended for students and teachers.According to the Ministry of Tourism, the regional centers of competence for vocational education in the tourism and hospitality sector represent a new and modern approach to the education system in the Republic of Croatia, which will consist of a network of six schools that will also have the function of hotels. and the implementation of work-based learning, as well as training, development and adaptation to the needs of the economy and the labor market.In addition to formal vocational education, additional necessary professional knowledge and skills will be provided to adults through the possibility of retraining, additional training, etc., and in this way will provide quality and necessary staff to work in tourism. The Centers will provide quality staff who, after the completion of the educational process, should be ready to actively and effectively join the labor market.
By combining the expertise and previous experience of the partners, we will provide support to governments and businesses engaged in tourism in Croatia and other countries in the region, such as Albania, Slovenia, Bulgaria, Bosnia and Herzegovina and Montenegro, said doc. dr. sc. Damir Krešić, director of the Institute of Tourism, added: “We are very pleased to have the opportunity to support and contribute to the development and management of tourism in Southeast Europe. We look forward to successful future cooperation and the positive effects that this partnership will have on the local community, environment, natural and cultural resources of tourist destinations. ” Organizations will implement programs that may include: introducing or improving globally recognized sustainability standards, developing new key performance indicators, building smarter data management systems, evidence-based decision-making, and participatory planning involving a wide range of stakeholders in the destination to develop a joint program private and public sector to develop and manage the visitor economy. “We are extremely pleased to believe that this partnership will promote and encourage a better, more efficient and more sustainable recovery of tourism in South East Europe. The emphasis will be on measuring impact, educating local stakeholders, research, projects and technical support, which will provide good conditions for long-term creation of new value for local communities in which tourism takes place.Said Jeremy Sampson, director of The Travel Foundation. The Institute for Tourism and the international NGO The Travel Foundation have signed a Cooperation Agreement aimed at supporting the recovery of tourism following the COVID-19 pandemic and a long-term partnership on tourism development in Southeast Europe. The goal of the formed partnership is to maximize the value that tourism brings to local communities and destinations, while minimizing its negative impacts on the environment and natural resources. The partnership will contribute to the recovery of tourism based on science-based research, positive and negative impacts of tourism and will develop the capacity of destination management organizations, local and regional development agencies and micro and small enterprises, which will better respond to the crisis caused by the COVID-19 pandemic. and a responsible way, all with the aim of faster tourist recovery. Photo: Christopher Willan, The Travel Foundation / Illustration: HrTurizam.hr
“The bridge will connect the autoterminal and the port in the middle of the sea. It will be 1 kilometer long and as the operation of the autoterminal is scheduled for September, the connecting bridge must be completed long before, hopefully in April or June,” Agus told reporters in Jakarta on Thursday. On Thursday, the ministry signed the third package of the contract for development of the port, which will be the base for the construction of the connecting bridge, with a contract value of Rp 524.1 billion (US$38.2 million). State-owned construction companies Wijaya Karya and PP will build the bridge. Patimban seaport is one of the government’s national strategic projects, funded by an official development assistance (ODA) loan from the Japanese government amounting Rp 14.2 trillion for the first development phase.Key details of the Patimban Port project (JP/File) Phase I of the development includes construction of the terminal, the breakwater, seawall, revetment, backup area, road access and connecting bridge. The ministry reported that the vehicle and container terminals were 58 percent complete as of Jan. 26. The breakwater, seawall and revetment were 25 percent complete as of Feb. 11. In the first development phase, Patimban port is planned to serve 3.75 million twenty-foot equivalent units (TEUs) and accommodate 600,000 complete built-up (CBU) vehicles. Meanwhile, in the second phase, Patimban’s capacity will increase to 5.5 million TEUs and it is expected to reach its final capacity of 7.5 million TEUs in phase 3.Patimban port is expected to be Indonesia’s primary export port. It is also expected to solve the overcapacity of Tanjung Priok Port and traffic congestion in Jakarta from the transport of cargo.Topics : Patimban port in Subang West Java, a strategic project expected to ease logistics in the busy industrial neighborhood, has been scheduled for partial operation in September, according to the Transportation Ministry.The ministry’s sea transportation director general, R. Agus H. Purnomo, said the autoterminal would be the first part of the port to be operational, opening in September. The port is located about 70 kilometers from the Karawang industrial estate in West Java, where many Japanese companies have built factories.The operation of the autoterminal is awaiting the completion of a connecting bridge that will be the main access that links the terminal with the backup area.
Advertisement Arsenal star Bukayo Saka made his senior England debut in the midweek win over Wales (Picture: YouTube)Arsenal manager Mikel Arteta has hailed the rapid progression of the club’s latest senior England international Bukayo Saka.The teenager committed his long-term future to the Gunners back in the summer after cementing his place as a regular first team player under Unai Emery’s successor.Saka’s versatility has rendered him a major asset to Arteta and his early season performances were rewarded with a first call-up to Gareth Southgate’s senior Three Lions squad last week.The 19-year-old subsequently made his debut in the 3-0 win over Wales in midweek and Arteta is confident the talented winger will not have been daunted at the prospect of playing alongside so many illustrious names.AdvertisementAdvertisementADVERTISEMENTIndeed, the Arsenal manager has noted a significant change in Saka’s maturity and personality over the course of the last couple of months and believes he is now fully at ease with his ever increasing status. Mikel Arteta pinpoints the biggest improvement Bukayo Saka has made since he rejoined Arsenal Advertisement Metro Sport ReporterSaturday 10 Oct 2020 8:28 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link11.8kShares Comment Bukayo Saka scored his first ever goal at the Emirates Stadium in last week’s win over Sheffield United (Picture: Getty)He told Arsenal’s official website: ‘Absolutely [it’s been crazy] and this is down to all the good work that is being done at Hale End with him, with all the coaches, all the education that he’s been through here and then the type of character and player that he is.‘The way he’s maturing, the way he’s assimilating everything that’s happened to him in the last few months is remarkable. ‘Physically he has evolved. He looks a little bit older. But then how he’s able to read the game, the situation that happens to him, how he resolves the situation, how long it takes to make those decisions.More: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing Arsenal‘His communication has improved a lot towards his team-mates as well because he feels more part of the team, he’s integrated, he feels important in the team I think. ‘Then what he’s able to do with the ball in the final third when things get a little bit difficult, and how he approaches those moments is probably the biggest part of his game.“What I like about him is that he’s very versatile, he’s really intelligent and that he adapts and has a lot of courage to play the game.‘It doesn’t matter which position he plays, he acts exactly the same way. He’s so willing to learn and ask the right questions that he can set his own limits.’MORE: Paul Merson claims Manchester United should have signed Arsenal’s Thomas ParteyMORE: ‘It’s a very good PR stunt’ – Ray Parlour aims dig at Arsenal’s Mesut Ozil over Gunnersaurus pay gestureFollow Metro Sport across our social channels, on Facebook, Twitter and Instagram.For more stories like this, check our sport page.
Finnish pensions insurance company Varma reported a 4.3% return on investments in the first half, down from 5.0% a year before, and warned that hidden exchange rate risk had returned to the euro following the crisis over Greece’s debt repayments.In its interim report, Varma said its investment return was €1.7bn in absolute terms from January to June this year, down from €1.9bn in the same period last year.Risto Murto, Varma’s chief executive, said: “A major change took place in principle in Finland this summer in relation to the shared currency area of the euro.”He said the exit of a single country — in this case Greece — from the euro was now considered a possibility. “From an investor’s point of view, a hidden exchange rate risk has returned within the euro,” he said.“In Finland’s case, this risk is still very minute, but it’s not nil,” he warned.Varma said the equity and fixed income markets had been unsettled during the second quarter of the year, with the investment market plagued by three threats — rising interest rates, Greece and China.These had added to difficulties in the already-challenged investment markets, said Varma’s CIO Reima Rytsölä.Varma’s pension assets grew to €41.9bn at the end of June from €39.7bn, according to the report.Written premiums rose to €2.26bn in the period from €2.19bn in the same period a year earlier.Solvency capital increased to 35.3% of technical provisions at the end of June from 34.9% 12 months earlier.Within asset classes, equities generated the highest returns, at 8.3%, compared to 7.2% a year earlier, and fixed income investments produced 0.3%, after 3.4% in the first half of 2014.Property yielded 3.4%, up slightly from 3.2% in the comparable period, with other investments — including hedge funds — generating 4.0% compared with 5.2% in the same period last year.