Nobel Prize in Economics awarded to 3 US-based economists
Stockholm (AP): This year's Nobel Prize in economic sciences has been awarded to the former chair of the U.S. Federal Reserve, Ben S. Bernanke, and two U.S.-based economists, Douglas W. Diamond and Philip H. Dybvig, for research on banks and financial crises.
The prize was announced Monday by the Nobel panel at the Royal Swedish Academy of Sciences in Stockholm.
The committee said their work had shown in their research why avoiding bank collapses is vital.
Nobel prizes carry a cash award of 10 million Swedish kronor (nearly 900,000) and will be handed out on Dec. 10.
Unlike the other prizes, the economics award wasn't established in Alfred Nobel's will of 1895 but by the Swedish central bank in his memory. The first winner was selected in 1969.
Last year, half of the award went to David Card for his research on how the minimum wage, immigration and education affect the labor market. The other half was shared by Joshua Angrist and Guido Imbens for proposing how to study issues that don't easily fit traditional scientific methods.
A week of Nobel Prize announcements kicked off Oct. 3 with Swedish scientist Svante Paabo receiving the award in medicine for unlocking secrets of Neanderthal DNA that provided key insights into our immune system.
Three scientists jointly won the prize in physics Tuesday. Frenchman Alain Aspect, American John F. Clauser and Austrian Anton Zeilinger had shown that tiny particles can retain a connection with each other even when separated, a phenomenon known as quantum entanglement, that can be used for specialized computing and to encrypt information.
The Nobel Prize in chemistry was awarded Wednesday to Americans Carolyn R. Bertozzi and K. Barry Sharpless, and Danish scientist Morten Meldal for developing a way of snapping molecules together that can be used to explore cells, map DNA and design drugs that can target diseases such as cancer more precisely.
French author Annie Ernaux won this year's Nobel Prize in literature Thursday. The panel commended her for blending fiction and autobiography in books that fearlessly mine her experiences as a working-class woman to explore life in France since the 1940s.
The Nobel Peace Prize went to jailed Belarus human rights activist Ales Bialiatski, the Russian group Memorial and the Ukrainian organization Center for Civil Liberties on Friday.
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Gold worth Rs 4.35 cr seized at IGI Airport in two smuggling cases; three arrested
New Delhi (PTI): Customs officers at the Indira Gandhi International Airport have busted two separate gold smuggling attempts, seizing a total of over 3.17 kilograms of gold worth about Rs 4.35 crore and arresting three foreign nationals, officials said on Monday.
In the first instance, Customs registered a case of smuggling on February 26 against a 39-year-old Chadian woman who arrived from Addis Ababa a day before, an official statement said.
Acting on specific profiling and surveillance, officers intercepted the passenger for a detailed examination.
During the search, gold articles of high purity weighing 1,843 grams were recovered from her baggage. The seized gold was assessed at a tariff value of Rs 2.37 crore, officials said.
The passenger admitted that the gold had been smuggled into India without payment of duty, officials said, adding that the recovery was made after she confessed the concealment was done "to evade Customs detection and payment of applicable duty".
The gold was seized under Section 110 of the Customs Act, 1962, and the woman was placed under arrest under Section 104 of the Act for her alleged role in smuggling.
In a separate incident, Airport Customs Preventive officers booked two Myanmar nationals in a gold smuggling case on February 23. The duo had arrived from Yangon, another statement said.
The passengers were intercepted while crossing the green channel at the international arrival hall of Terminal-3.
On thorough personal search and baggage examination, the two men admitted that they had concealed gold bars inside their rectum.
"Further, four gold bars were ejected by each of the passengers," the Customs statement said, adding that eight rectangular gold bars were recovered.
The total net weight of the recovered gold was 1,329 grams, which was appraised at a tariff value of Rs 1.98 crore.
Both passengers were arrested under Section 104 of the Customs Act, 1962 for their involvement in the offence of smuggling, officials added.
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