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Corporate Economy Expressions Markets Leisure Saturday, March 14, 1998   Japan Inc seen suffering record level of bankruptcies Japan Inc is set to suffer a record level of bankruptcies in the business year ending this month and the situation may only get worse. Total debts held by Japanese companies going bust will rise to 13.5 trillion yen ($104 billion) in the 1997/98 year to March 31, a record for the third straight year.   Cathay Pacific Airways mulls joint ventures to stay afloat, say analysts Cathay Pacific Airways Ltd may seek support in an alliance as it battles strong headwinds in 1998. Recent months have seen a boom in global airline pacts. Cathay has previously been reluctant to tie the knot with other carriers but may find it is getting increasingly isolated. Decks cleared for Price Waterhouse, Coopers Lybrand nuptial knot The US justice department on Friday cleared the way for Coopers and Lybrand and Price Waterhouse to go ahead with a 13 billion dollars merger into the world's largest accounting and consultancy firm. Heineken net profit brews 16 per cent hike Brewing giant Heineken on Friday reported a 16 per cent rise in 1997 net profit to 761 million guilders ($369.4 million). Heineken also announced it would dilute its shares with a bonus issue and a five-for-one split.   Indo Gulf Fertilisers may see urea output at 9 lakh tonnes Indo Gulf Fertilizers & Chemicals Ltd (IGFCL) is estimated to touch a record high urea production of over 9 lakh tonnes at the end of March 31, 1998, as against 6.68 lakh tonnes in the previous year. This is despite an annual shutdown of around three weeks which the company has undertaken from March 1 this year. Raasi Cement chairman says takeover code benefits raider The man does not like hanging up his boots, India Cements may well know this. BV Raju, the 78-year old chairman of Raasi Cements, India Cements' takeover target, walked through 53 villages to raise equity for a new company in 1981 after he retired as chairman-cum-managing director (CMD) of Cement Corporation of India.     World Briefing   ONGC to start deep water exploration in Krishna-Godavari basin   How SEBI demolished HLL defence in insider-trading case