Years after they were indicted for sex crimes against children, former television personality Carlos Cruz and former UNESCO ambassador Jorge Ritto have finally been stripped of their honours. According to Portuguese law, anyone going to prison for more than three years automatically loses any honours. Both men were condemned to over six years each in the Casa Pia sex scandal which involved a number of high- ranking public officials and professional people.

Among the recommendations in the report from the Inspector General for Internal Administration, requested by new minister Anabela Rodrigues, is the creation of an advisory board of the great and the good from the legal, financial, tax and policing disciplines.

The report recommends legislative changes to the whole scheme and the preparation of a "clear and transparent" Golden Visa idiot’s guide to show how to process applications.

Plans to drill for oil and gas off the Canary Islands have been dropped after the energy giant Repsol said insufficient quantities had been found.

It would not be surprising if the bars on the islands were full of rejoicing locals.

A series of loud bangs and the sound of breaking glass woke many Olhão residents in the early hours as vandals left a trail of destruction from the council building as far as the Social Security office about a kilometre north.

Random acts of vandalism are not uncommon in the hard drinking city with late night revellers weaving their way back home deciding no night out is complete unless a shop window or two is smashed.

Oxfam has warned that 1% of the world’s richest people by next year will own more than that of the remaining 99%.

Their research indicates that the wealthiest 1% have seen their share of global assets rise from 44% in 2009 to 48% last year - with an average worth of $2.7million (£1.8m) each. The figure is predicted to exceed 50% this year.

Portugal's Secretary of State for Tourism Adolfo Mesquita Nunes said today that "2014 was the best year ever for tourism in Portugal," with revenue expected to top €10 billion.

The figures for January to November 2014 show a growth in overnight stays in Portugal of three times than seen in Spain - a market six times the size of Portugal's.

The tax office has detected 17,000 cases of income received by landlords that has not been declared.

According to data from the Fiscal Affairs Secretariat of State, between 2011 and 2014 a total of €200 million in rental income was not declared to the IRS.

The highest consumer spending per person of any city on the globe stands at $54,438 and it is in Zurich. This is 20% above the average across Switzerland of $45,300, according to Euromonitor International.

Geneva, the country’s second most populous city, has the world's fifth highest consumer spending, at $47,894, or 6% higher than the Swiss average.