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Stockholm, Sweden:
The money envelope that accompanies every Nobel prize can be elevated this yr from 9 to 10 million kronor ($1.1 million), the Nobel Foundation stated Thursday.
“The work done in recent years to strengthen the Nobel Foundation’s financial standing has made it possible to increase the prize sum,” the inspiration stated in a press release.
This yr’s prizes within the fields of drugs, physics, chemistry, literature, peace and economics can be introduced throughout the week of October 5.
The prize sum was decreased from 10 to eight million Swedish kronor in 2011, when the inspiration launched a programme to enhance its funds.
Since the start of 2012, its funding capital has risen from just below three billion kronor to 4.6 billion, whereas the return has been near 9 % per yr because of a usually good market efficiency and good outcomes from the inspiration’s personal asset administration, it stated.
Prize creator Alfred Nobel, an inventor and scholar who made an enormous fortune from his invention of dynamite in 1866, decreed in his 1895 will that the majority of his property — about 31.5 million Swedish kronor, equal in the present day to about 2.2 billion kronor ($222 million, 203 million euros) — be invested to fund the prizes.
The Nobel Foundation has beforehand introduced that the standard award ceremony and banquet in Stockholm have been cancelled this yr due to the coronavirus pandemic, changed by a televised occasion with laureates receiving their prizes of their residence nations.
The Peace Prize ceremony, which takes place in Oslo, will go forward albeit in a scaled-back model — with the standard banquet cancelled.
(This story has not been edited by NDTV workers and is auto-generated from a syndicated feed.)
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