Is there a way I can have the latest news topic posted on the homepage of my XOOPS site? [News Module]

You can either use the news module as the front page. You set this in the System Admin - Preferences - General Settings, 5th line down.

You can use the recent news block that comes with the news module. You set this in System Admin - Blocks.

You can use a spotlite block like Here to display recent news on the front page.

Additionally the recent news/articles modules like news 1.3 and AMS have built in spotlite blocks to display recent news.

HTH.