Nobel Prize season opens with medicine award

16:03, 8 October 2012

OSLO. October 8. KAZINFORM The announcement of the Nobel Prize for medicine on Monday opens the prestigious award season that shines a spotlight on the world's top scholars and peacemakers, according to CNN.

The Nobel Assembly's anticipated announcement at the Karolinska Institute in Stockholm is the first in a series of prizes that will be announced this week.

The Norweigian Nobel committee will announce the most anticipated of the annual honors -- the Nobel Peace Prize -- on Friday in Oslo.

Read more: Nobel winner died days before award announced

The prizes created in 1895 by Swedish industrialist Alfred Nobel honor work in physics, chemistry, literature, and peace. Economics was added as a category in 1968, and the first prize awarded for economic sciences was in 1969.

The monetary award that accompanies the Nobel Prize was lowered by the foundation this year by 20 percent from 10 million Swedish kronor ($1.5 million) to 8 million kronor ($1.2 million) because of turbulence that hit the financial markets.

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