20080630 MCI Biweekly Update

In terms of the global economic environment, it was further battered by rising inflation pressures and record high oil prices during the past two weeks. Between June 16, 2008 to June 27, 2008, the Dow Jones Industrial average declined from 12,269.08 to 11,346.51, down by a whooping 7.5%. Meanwhile, oil prices briefly reached a new high at $142 per barrel last Friday (June 27, 2008).