STOCKHOLM UK-born Oliver Hart and Finland-born Bengt Holmstrom won the 2016 Nobel Economics Prize for "their contributions to contract theory", the Royal Swedish Academy of Sciences said on Monday. "(Their work) lays an intellectual foundation for designing policies and institutions in many areas, from bankruptcy legislation to political constitutions," the award-giving body said on announcing the 8 million Swedish crown ($928,000) prize. The economics prize, officially called the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, was established in 1968. It was not part of the original group of awards set out in dynamite tycoon Nobel's 1895 will. Economy is the fifth of this year's Nobels. The prizes for physiology or medicine, physics, chemistry and peace were awarded last week. The literature prize is due on Thursday. (Reporting by Anna Ringstrom and Bjorn Rundstrom; Editing by Alistair Scrutton) Next In World News France wants international war crimes investigation in Syria PARIS French Foreign Minister Jean-Marc Ayrault said on Monday that President Francois Hollande will take into account the situation in Syria's Aleppo in deciding whether to see Russian President Vladimir Putin when he visits Paris on Oct. 19 German police capture man suspected of planning bomb attack BERLIN German police said on Monday they had captured a man suspected of planning a bomb attack who had slipped through their grasp during a raid two days ago. Putin still planning to visit France despite Hollande comments: Kremlin MOSCOW Russian President Vladimir Putin still plans to visit France later this month, despite French President Francois Hollande saying he was unsure whether to receive him, Kremlin spokesman Dmitry Peskov said on Monday. From Around the Web Promoted by Taboola Editor's Pick Pictures
