UPDATE 1-Market Chatter - Corporate finance press digest
BANGALORE May 8 (Reuters) - The following corporate finance-related stories were reported by media on Tuesday:
* China's top economic planning agency, in a setback for foreign private equity funds, has ruled that all capital in a yuan-denominated fund must come from local Chinese investors, failing which the funds will be treated as foreign, the Wall Street Journal said.
* DLF Ltd, India's biggest property company, plans to sell a majority stake in its life insurance joint venture to India's HCL Group for about 5 billion rupees ($95 million), the Business Standard reported on Tuesday.
* China's securities regulator is considering giving preferential tax treatment to long-term investors such as pension funds, the Securities Times reported on Tuesday.
* Germany's Metro plans to double the number of its stores in China to more than 100 over the next three to four years to grab a bigger share of the country's growing retail market, China Business News reported on Tuesday.
* Fuel prices in the United Arab Emirates are too high and should be brought down to match levels in other Gulf countries according to a proposal by an advisory council's committee, daily newspaper Gulf News said on Monday.
* Samsonite International, the world's biggest luggage maker, is eyeing acquisitions of smaller, privately held companies, its chief executive told a German newspaper.
* Tokyo Electric Power Co and the government-backed Nuclear Damage Liability Facilitation Fund plan to replace the utility's President Toshio Nishizawa with managing director Naomi Hirose, the Nikkei business daily said.