Nobel economics prize to be announced

STOCKHOLM: Latest developments in the announcements of the Nobel Prizes (all times local):

The winner or winners of this year's Nobel economics prize will be announced at 11 a.m. GMT by a committee at the Royal Swedish Academy of Sciences in Stockholm.

Last year, French economist Jean Tirole won the 8 million Swedish kronor (about $975,000) award for his research on market power and regulation.

The revelation follows announcements last week of the winners of the Nobel Prizes in medicine, chemistry, physics, literature and peace.

The economics award is not a Nobel Prize in the same sense as the others, which were created by Swedish industrialist Alfred Nobel in 1895.

Sweden's central bank added the economics prize in 1968 as a memorial to Nobel.