Several large bales of hashish have washing up along the Algarve coast between Lagos and Sagres.

The first bale appeared on Tuesday at Meia Praia, the next day at Praia da Pinhão and on Thursday at Martinhal.

David Neeleman says his TAP takeover vehicle Gateway so far has paid €80 million to suppliers and paid off €100 million of the airline’s debt.

"Without capital, the company could not do anything," said the American part-owner of TAP.

Investors interested in buying the state’s shareholding of 60.5% had until 8.00pm this evening to register their interest. Six businesses are confirmed to have made offers.

This afternoon, Banif’s board announced that it has accepted a bid for its business in Malta.

Three terrorists involved in the Paris attacks may be in Portugal.

Interpol has warned Lisbon that the suspects may have sought refuge in Portugal.

Chelsea has sacked its manager José Mourinho seven months after he led the team to the Premier League title.

The 52-year-old Portuguese, aka ‘The Special One’  was on his second contract having started in June 2013.

Portugal’s stock market regulator this afternoon suspended trading in Banif shares on the Lisbon stock exchange.

Shortly after 2pm the regulator CMVM had enough of observing the roller-coaster ride Banif’s shares had been suffering and, using share trading rules, it issued a statement advising the suspension of trading in Banif shares and that it had asked for the company to provide it with information on its voluntary sale process.

Christine Lagarde, director of the IMF, says that Portugal’s debt should have been restructured and that really, it should not have lent the money in the first place.

The International Monetary Fund shut its eyes to the potential problems of Portugal taking on so much bail-out debt, according to a team of IMF experts in a study released yesterday.

Portugal's former Prime Minister, Pedro Passos Coelho, has told the press, “it’s over” - the coalition between his Social Democrat Party and Paulo Portas’ CDS-PP has come to a natural end.

"The agreement ended with the end of the last government," according to Passos Coelho, adding that there was no need formally to end the coalition.