Swedish Academy to announce Nobel literature prize on Thursday

STOCKHOLM - The Swedish Academy will announce the winner of this year's Nobel Prize in literature on Thursday this week at 0700, it said in a statement on Monday.

The Swedish Academy, founded in 1786, usually gets around 350 proposals each year for the world's most prestigious literary award, which has been awarded according to the will of dynamite tycoon Alfred Nobel since 1901.

The winner will receive the prize of 8 million Swedish crowns ($1.1 million) from the Swedish king in Stockholm on Dec. 10.

The announcements of the winners of the Nobel Prizes begin on Monday with the physiology or medicine prize. — Reuters