because in English you have to say "a newspaper"or else it sounds weird.

"I read a newspaper" is also correct. There is no difference in Hebrew between the simple present and the present progressive or present continuous.

Can't help with a book, but the answer to your question is easy: no )-: עיתון comes from עת /'et/ which is an ancient word for "time" (in modern Hebrew it's found in some idioms).