With the new calendar application, you can create calendar events from iCalender feeds should you wish to do so. You would do this from the following location.
Community>Calendar>iCalendar Feeds
Once you go to this location you will be presented with the following screen.
You will notice from this screen that there are 2 ways in which to add feeds to your calendar. The first of these is by selecting the "Upload iCalendar File" button, which will allow you to simply select a file, a calendar, and a member in which the entries will appear from
The second method of adding these is from a calendar feed which you can add using the "Add iCalendar Feed" button and filling in the details requested.
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