In the news area you can publish news items about the project or any subject you like.
You can give the news item a title, a summary and the detailed description. The summary will be displayed in the Latest news area of the Overview page whereas the description will be displayed if you click on the title (in this case Release 0.8.0 release candidate) of the news item.
If you have the permission to create new news items you have a green plus sing in the upper right of you screen. If you click on that you can add a new news item.