Israeli entrepreneur Stef Wertheimer is to receive an award for his contribution to ethical business and industry at the 2010 Oslo Summit peace conference, to be held on October 18 at the Oslo City Hall, Norway.

Wertheimer and six other businesspeople will receive the Oslo Business for Peace Award at this year’s Oslo Summit. The award, sponsored by the International Chamber of Commerce and the Business for Peace Foundation, honors the seven business figures for their contributions to the advancement of ethical business practice and social responsibilities.

This year marks the first time that an Israeli will be receiving the Oslo Business for Peace Award, considered the most prestigious award in business management.

Wertheimer, a former Member of Knesset, is well¬known for founding four industrial parks in Israel, with the goal of fostering economic growth and creating jobs to help create stability in the region.

The award will also be granted to Venkataramani Srivathshan, Managing Director of Olam Nigeria; Francis Yeoh, managing director of the YTL Corporation Berhad; Ratan Tata, current Chairman of the Tata group; Emily Cummins, a product designer and developer; William Rosenzweig, Managing Director of Physic Ventures; and Robert Sendra, Chairman of the Board of Grupo Bimbo.