The [Nobel] prize was invented by the Swedish industrialist and inventor of dynamite Alfred Nobel, and was first awarded in 1901. There were a record 205 nominations for this year's peace prize. Zimbabwean Prime Minister Morgan Tsvangirai and Chinese dissident Hu Jia had been among the favourites.

Instead the committee chose Mr Obama, who was inaugurated less than two weeks before the 1 February nomination deadline.

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