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Russia put the first-ever artificial satellite Sputnik into orbit in 1957, but its industry has since gone to the birds.

The head of Russia's space agency Yuri Borisov said in an interview Wednesday that the Kremlin plans to rectify that by selling debt to raise around $710 million to plug into satellites. Borisov acknowledged that Russia has fallen behind the US and China on satellite launches.

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Source Fool.com