Morning roundup: No dividends from Emaar

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Emaar shareholders learned last night that there would be no dividend, The National reports. Not everyone was happy, but 80 per cent of the shareholders agreed it was the right thing to do. Emaar's share price has dropped by about 85 per cent in the past 12 months.  Things weren't much cheerier at Sorouh, which reported profits yesterday of Dh130.4 million (US$35.5m) in the first three months of the year, a 64 per cent drop from the same period last year, The National reports.

Carbon isn't the only footprint that Masdar is trying to reduce these days. The project is planning to revise future constuction contracts by up to Dh14.6 billion (US$4bn) to save costs, according to The National.

And a report commissioned by Better Homes suggests that Dubai's property market could recover in a year to 18 months, The National reports.

But at the moment, rents in Dubai have dropped by up to 50 per cent in some areas, according to a new RERA rental price index, Gulf News reports.