To Import project you need to start Xcode which you already downloaded, Once Xcode start follow below steps to import project in Xcode.
First of all goto the location where you have placed WP News code.
Please extract zip file in same location.
Now select "Open another project..." from Xcode.
Browse location where you have placed WP News.xcworkspace press "OK" button.
You can also import project. Navigate to the location where you have placed WP News code and find "WP News.xcodeproj" Now double click on that project will open in default Xcode and import it.