In the face of sharp criticism over the appointment of Bank of Portugal governor Carlos Costa for a further term, the PM has decided that the matter will be debated in parliament after all.

News last Friday that Pedro Passos Coelho and Finance Minister Maria Luís Albuquerque had offered Costa a continuation of his post from June this year set alarm bells ringing across Portugal's financial community and media, both fully aware of Costa’s track record of ineptitude when handling the regulation of Portugal’s financial sector.

The world-renowned Kimberley diamond mine has been put up for sale.

De Beers, the world’s largest diamond mining company, announced the sale of its oldest mine.

Bank of Portugal formally has accused 18 Banco Espírito Santo managers of ‘ruinous management.’

The regulator now has evidence that the BES chief executive Ricardo Salgado ordered that the accounts of Espírito Santo International should be doctored and that he lied to the parliamentary commission of inquiry.

The weak economy in France has given rise to makeshift mechanics creating a black market for car repairs.

All over greater Paris as well as in the rundown housing estates surrounding many French cities, amateur repair ‘shops’ spring up in the open air as well as in underground car parks, disused factories and warehouses and even supermarket parking areas.

The inhabitants of Farol on Culatra island in the Ria Formosa have reacted with understandable joy and relief as the anxiously awaited ruling from Loulé court is in, and it calls an indefinite halt to the programme of property destruction by Polis Litoral Ria Formosa.

Loulé’s administrative court has stopped the demolition programme of houses making up the community of Farol due to a rare and rather lovely chameleon which needs its habitat protecting, its habitat being the gardens and greenery in and near the islanders’ homes.

Not content with spending €15 million hiring BNP Paribas to advise on the creation and sale of Novo Banco, the Bank of Portugal also has contracted to spend up to €800,000 for independent advice and assessment from TC Capital in London.

Both financial companies have been hired by direct private contract without the Bank of Portugal asking for competitive quotes and without any supervision as to the suitability of the appointees.

The French parliament has approved legislation to ban supermarkets from destroying unsold food and forcing them instead to give it to charity.

Unsold but edible food will be devoted to charity or for use as animal feed or compost.

Voices in the tourism sector are urging the Brazilian authorities to take action after a 57-year-old visitor was stabbed while cycling around a scenic lake just behind Ipanema beach.

Lagoa Rodrigo de Freitas will be the site of the Olympic rowing and canoeing events next year.