STOCKHOLM: The Nobel prize in economics, to be announced on Monday, has increasingly honoured research in the field of finance -- a subject which, observers note, is far from founder Alfred Nobel's philanthropic ideals. The economics prize has always been set apart from the other Nobel awards, and the subject of much controversy: unlike the other awards, which were created in Nobel's 1895 will, the "Prize in Economic Sciences in Memory of Alfred Nobel" was devised by the Swedish central bank in 1968 to mark its…
STOCKHOLM: Swedish inventor and scholar Alfred Nobel, who made a vast fortune from his invention of dynamite in 1866, ordered the creation of the famous Nobel prizes in his will. His 1895 testament stipulated his fortune was to be placed in a fund destined to honour "those who, during the preceding year, shall have conferred the greatest benefit on mankind". He died a year later in San Remo, Italy. Nobel had decreed the bulk of his estate should be invested in "safe securities" and, as a result, some 31.5 million Swedish…
STOCKHOLM: Three scientists from Japan, China and Ireland whose discoveries led to the development of potent new drugs against parasitic diseases such as malaria and elephantiasis won the Nobel Prize for Medicine on Monday.
STOCKHOLM: Anglo-American John O'Keefe and Norwegian couple May-Britt and Edvard Moser won the 2014 Nobel Prize for medicine on Monday for discovering the brain's internal positioning system, helping humans find their way and giving clues to how strokes and Alzheimer's affect the brain.