Changing URL of page and blog

I’m currently working on a website for a client and now I’ve run into a tricky situation. Well basically what I’m trying to do is make a PAGE called news the index and the BLOG which is the index be located at http://www.example.com/blog.

The PAGE called news is being administrated from the page section of the wordpress admin area. The BLOG is being updated by using the posts section of the admin area. I want the BLOG to be located at http://www.example.com/blog while the PAGE called news at http://www.example.com. So when you enter the website you get to the news page/home page and then you can go further and enter the blog.

All the other pages are going to be located at the usual /about, /contact etc.

Is there any way I can do this?