Taiwanese tycoon to fund Nobel-type Prizes for outstanding achievementsJanuary 28, 2013 - 20:37 AMT PanARMENIAN.Net - A Taiwanese tycoon with vast business interests in mainland China said Monday, Jan 28 he is funding what local media call Asia's Nobel Prizes for outstanding achievements in natural and social sciences, The Associated Press reports. Ruentex Group head Samuel Yin announced the establishment of the Tang Prize Foundation with an initial endowment of 3 billion New Taiwan dollars ($103 million). The 618-907 A.D. Tang Dynasty is widely revered by Chinese for its cultural and scientific achievements. The prizes will be awarded every other year to international leaders in biopharmaceutical science, sustainable development, the study of China and the rule of law. Yin said he decided on those fields because the 118-year-old Nobels do not cover them, and they have intrinsic importance for humanity. The prizes will be awarded starting next year. Winners will receive NT$50 million ($1.7 million). Nobel awards for peace, medicine, chemistry, physics, literature and economics bring each winner about $1.2 million and enormous international recognition. Last year, the 62-year-old Yin vowed to give away 95 percent of his assets - estimated to be worth NT$100 billion - after he dies. Yin is known for his generous donations to education and charity in China, which have helped cement his influence there. Taiwan media say more than 80,000 Chinese students have received tuition assistance from him. In the late 1980s, he co-financed the building of a 250-kilometer (155 mile) railway in eastern China. He also set up Peking University's Guanghua School of Management, which is now an important source of personnel for China's government and in state-run businesses. The Tang Prize winners will be nominated and screened by special committees set up by the Academia Sinica, Taiwan's most prestigious research organization. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. Armenia, Russia discuss life extension of Metsamor nuclear plant Issues regarding the extension of life of the 2nd power unit of the Armenian Nuclear Power Plant were discussed in Yerevan. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. |