Translate Home & News Page
Duplicate Home Page for Other Language
Go to Pages on WordPress admin side and look for Home Page.
Open the Home page for editing and look for Language meta box in right sidebar.
You can edit the duplicated page if you need to but we are not doing it here.
If you are not able to view language switcher then make sure to enable the setting in Dashboard → Appearance → Customize Settings → Floating Features panel and look for the WPML Language Switcher section (appears only when WPML plugin is activated) as displayed in the screenshots below.
Do not worry about lots of un-translated things in header, footer and content area. You will learn to translate those one by one.
Duplicate News Page for Other Language
Go to Pages on WordPress admin side and look for News Page
Duplicate it the same way we duplicated home page. ( As explained above )
Edit the duplicated news page and provide it translated title. As displayed below.
Update the page after editing.
Update Reading Settings
After creating Translated Pages for Home and news Go to Dashboard → Settings → Reading and configure the translated pages as FrontPage and Posts Page.