Cook the rice in
plenty of boiling salted water for 8 minutes until
almost tender, drain.
Meanwhile fry (sauté) the
onion and pepper in the butter in a large saucepan
for 2 minutes. Cover and cook gently for 5 minutes
until soft.
Stir in the tomatoes, a little salt and
pepper, the sugar and bay leaf.
Bring to the boil.
Stir in the rice, reduce the heat and simmer for 15
minutes, stirring frequently, until all the tomato
juice has been absorbed and the rice is tender.
Discard the bay leaf, stir in the olives and fluff
up with a fork. Serve sprinkled with the Parmesan
cheese.