Business
Paraguay – the Silicon Valley of South America?
Jane ChambersBusiness reporter, Asunción, Paraguay
Gabriela CibilsGabriela Cibils is on a mission – to help turn Paraguay into the Silicon Valley of South America.
When she was growing up in the landlocked country, nestled between Brazil and Argentina, she says the nation “wasn’t super tech focused”.
But it was different for Ms Cibils, as her parents worked in the technology sector. And she was inspired to study in the US, where she got a degree in computing and neuroscience from the University of California, Berkeley.
After graduating she spent eight years working in Silicon Valley, near San Francisco, with roles at various American start-ups.
But rather than staying permanently in the US, a few years ago she decided to return home to Paraguay. She’s now helping to lead efforts to build a large and successful tech sector that puts the country of seven million people on the world map – and attract some of the globe’s tech giants.
AFP via Getty Images“I saw first hand the impact that technology can have on your life,” says Ms Cibils. “After being exposed to such a different world [in Silicon Valley], it’s my responsibility to bring that mindset back and combine it with the talent I see in Paraguay.”
She is now a partner at global technology and investment firm Cibersons, whose headquarters is in Paraguay’s capital Asunción.
While most countries would love to build a world-class tech sector, Paraguay has a distinct advantage in one regard – an abundance of cheap, green electricity.
This is thanks to 100% of its generation now coming from hydroelectric power.
This is centred on the giant Itaipu Dam on the Paraná River, which forms part of the border between Paraguay and Brazil. This huge hydroelectric power station, the largest in the world outside of China, supplies 90% of Paraguay’s electricity needs, and 10% of Brazil’s.
In fact, such is Paraguay’s surplus of electricity that its electricity prices are the lowest in South America.
And it is the world’s largest exporter of clean energy.
The Paraguayan government hopes that the country’s abundance of cheap, green electricity will attract global tech firms increasingly focused on the massive energy demands of AI computing.
“If you want to install any technology investment like AI data centres, keep in mind hydroelectric power is both renewable and steady,” says Paraguayan software development entrepreneur Sebastian Ortiz-Chamorro.
“Compared to other renewable energy sources like wind or solar, that have their ups and downs, it’s much more attractive for creating data centres or any other electro intensive activity that requires a steady electricity source.”
He adds that in addition to Itaipu, and Paraguay’s other large state-owned hydroelectric plant, the Yacyretá Dam, private companies can easily build their own smaller facilities.

On a visit to California last year Paraguay’s President Santiago Peña spoke with companies like Google and OpenAI to encourage them to invest in Paraguay. It remains to be seen if such industry giants open large operations in the country.
Minister of Technology and Communication Gustavo Villate is working closely with the president on the continuing efforts.
“We have the youngest population. We have a lot of renewable green energy. We have low taxes and economic stability,” he says proudly.
I’m taken on a tour with the minister of a planned new digital park near Asunción’s main airport. It’s currently green fields and some army barracks.
Mr Villate unfurls plans to show off the lakes, a childcare centre and other buildings which he says should be ready in under two years.
“The government are going to invest around $20m (£15m) for the first stage, but the idea is for private companies to invest the rest,” he says.
Even though the park isn’t ready yet, Mr Villate says the collaboration already happening between the public, private and university sectors is key to building an ecosystem to attract foreign investors.
The government thinks the country’s young population will be a key attraction, and able to provide a large tech workforce. The average age in Paraguay is 27.
Vanessa CañeteBut more young people will need to be trained. The technology minister says the new digital park will also be home to The University of Technology, which is a joint venture between Taiwan and Paraguay.
Meanwhile, there are other initiatives to train young people in the country. “We are working really hard to create a mass of software engineers, programmers and everything you need to provide software services,” says Vanessa Cañete, president of trade group Paraguayan Chamber of the Software Industry.
Ms Cañete says she is also passionate about encouraging more women to study computer engineering. In 2017 she set up Girls Code, a non-profit association which aims to close the tech gender gap.
It organises programming and robotics workshops for teenagers and young women, with more than 1,000 receiving some sort of training to date.
Ms Cañete adds that software developers are also given English lessons for up to four years to improve their communication with overseas firms.
The people I met are brimming with positivity about what Paraguay has to offer the tech world, but they are also pragmatic.
Ms Cibils says there are still “growing pains” for foreign investors, with issues like bureaucracy, which can hold things up adapting local contracts to standardised international ones.
But she is adamant that “if you put innovation at its core and leverage all the benefits that the country has I think Paraguay can be a superpower”.
Business
Eli Lilly cuts cash prices of Zepbound weight loss drug vials on direct-to-consumer site
The Eli Lilly logo appears on the company’s office in San Diego, California, U.S., Nov. 21, 2025.
Mike Blake | Reuters
Eli Lilly on Monday said it is lowering the cash prices of single-dose vials of its blockbuster weight loss drug Zepbound on its direct-to-consumer platform, LillyDirect, building on efforts by the company and the Trump administration to make the medicine more accessible.
The announcement also comes weeks after chief rival Novo Nordisk unveiled additional discounts on the cash prices of its obesity and diabetes drugs.
Starting Monday, cash-paying patients with a valid prescription can get the starting dose of Zepbound vials for as low as $299 per month on LillyDirect, down from a previous price of $349 per month. They can also access the next dose, 5 milligrams, for $399 per month and all other doses for $449 per month, down from $499 per month across those sizes.
Zepbound carries a list price of roughly $1,086 per month. That price point, and spotty insurance coverage for weight loss drugs in the U.S., have been significant barriers to access for some patients.
Eli Lilly’s announcement comes just weeks after President Donald Trump inked deals with Eli Lilly and Novo Nordisk to make their GLP-1 drugs easier for Americans to get and afford. The agreements will cut the prices the government pays for the drugs, introduce Medicare coverage of obesity drugs for the first time for certain patients and offer discounted medicines on the government’s new direct-to-consumer website launching in January, TrumpRx.
But Eli Lilly’s deal with Trump centers around lowering the prices of a different form of Zepbound – a multi-dose pen – after it wins Food and Drug Administration approval.
That means Eli Lilly’s Monday announcement around cutting prices on the existing single-dose vials could allow more patients to get discounted treatments more quickly.
“We will keep working to provide more options — expanding choices for delivery devices and creating new pathways for access — so more people can get the medicines they need,” said Ilya Yuffa, president of Lilly USA and global customer capabilities, in a statement.
Eli Lilly’s stock, which has climbed more than 36% this year, fell nearly 2% on Monday. Its meteoric rise due to the success of Zepbound and its diabetes injection Mounjaro vaulted it to becoming the first health-care company to hit a $1 trillion market value last month. Though cutting prices means lower revenue per medication sold, Eli Lilly’s sales — and shares — have continued to soar through past pricing announcements as demand balloons.
With single-dose vials, patients need to use a syringe and needle to draw up the medicine and inject it into themselves. Eli Lilly first introduced that form of Zepbound in August 2024.
It’s unclear how many patients are currently using single-dose vials of Zepbound. But Eli Lilly previously said that direct-to-consumer sales now account for more than a third of new prescriptions of Zepbound.
Novo Nordisk earlier this month lowered the price of its obesity drug Wegovy and diabetes treatment Ozempic for existing cash-paying patients to $349 per month from $499 per month. That excludes the highest dose of Ozempic.
The company also launched a temporary introductory offer, which will allow new cash-paying patients to access the two lowest doses of Wegovy and Ozempic for $199 per month for the first two months of treatment.
Business
OGRA Announces LPG Price Increase for December – SUCH TV
The Oil and Gas Regulatory Authority (OGRA) has approved a fresh increase in the price of liquefied petroleum gas (LPG), raising the cost for both domestic consumers and commercial users.
According to the notification issued, the LPG price has been increased by Rs7.39 per kilogram, setting the new rate at Rs209 per kg for December. As a result, the price of a domestic LPG cylinder has risen by Rs87.21, bringing the new price to Rs2,466.10.
In November, the price of LPG stood at Rs201 per kg, while the domestic cylinder was priced at Rs2,378.89.
The latest price hike is expected to put additional pressure on households already grappling with rising living costs nationwide.
Business
Taxable Value Of Goods Surges 15% In Sep-Oct As GST Cuts Boost Consumption
New Delhi: The taxable value of all supplies under GST surged by a robust 15 per cent during September-October this year, compared to the same period in 2024 due to sharp increase in consumption triggered by the tax rate cuts on goods across sectors that kicked in from September 22, according to official sources.
The growth in the same two-month period last year was 8.6 per cent. “This surge in taxable value during ‘Bachat Utsav’ demonstrates strong consumption uplift, stimulated by reduced rates and improved compliance behaviour,” a senior official said.
He pointed out that the growth has especially been strong in sectors where rate rationalisation was implemented, such as FMCG, pharma goods, food products, automobiles, medical devices and textiles. In these sectors, the taxable value of supplies has seen significantly higher growth, confirming that lower GST rates translated directly into higher consumer spending.
“It vindicates our strategy that reducing rates on essentials and mass-use sectors would create demand-side buoyancy — a Laffer Curve–type demand uplift,” he explained.These trends confirm that GST next-gen reforms have not disrupted revenue stability, and that consumption-side buoyancy has begun to translate into higher taxable value in key sectors.
This growth is in value terms which means that since GST rates were lower, the growth in volume terms will be even higher. It is clearly visible that while the Next Gen Reforms resulted in significant Bachat — increased consumption, industry has been very proactive in passing on the GST savings to the final consumers and ensuring that there is no supply side deficiency.
As GDP private consumption data will be released much later, GST taxable value serves as the most reliable real-time proxy for consumption, and the current numbers clearly indicate sustained demand expansion, the official added.
-
Sports1 week agoWATCH: Ronaldo scores spectacular bicycle kick
-
Entertainment1 week agoWelcome to Derry’ episode 5 delivers shocking twist
-
Politics1 week agoWashington and Kyiv Stress Any Peace Deal Must Fully Respect Ukraine’s Sovereignty
-
Business1 week agoKey economic data and trends that will shape Rachel Reeves’ Budget
-
Politics1 week ago53,000 Sikhs vote in Ottawa Khalistan Referendum amid Carney-Modi trade talks scrutiny
-
Tech6 days agoWake Up—the Best Black Friday Mattress Sales Are Here
-
Fashion1 week agoCanada’s Lululemon unveils team Canada kit for Milano Cortina 2026
-
Tech1 day agoGet Your Steps In From Your Home Office With This Walking Pad—On Sale This Week

