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Well, I know that this "advice" is trivial and as old as the world but, nevertheless: Practice, Practice, Practice! It really boils down to that 3 words.
Shalva is correct. It's also important to realize that practice takes on many forms. Studying with a good guidebook is obviously recommended, as is practicing with high quality questions. But reading in general can also increase one's speed, as well as indirectly strengthen RC and SC skills. GMAT Fiction is something you should look into, along with reading an article from The Economist everyday.
This process takes time and effort, but you will improve your verbal score. _________________
I know this post is old, but I just want to make a quick point here. The Economist is a great publication, and I enjoy reading it every week. That said, it is written using British grammar rules. The GMAT, on the other hand, uses standard American rules.
Correct in British publications: "The army have captured the enemy leader." Correct on the GMAT: "The army has captured the enemy leader."
This is one of many minor differences between the two grammatical systems, but collectively the differences would lead me to suggest practicing for the GMAT by reading U.S. publications.
Check out this awesome article about Anderson on Poets Quants, http://poetsandquants.com/2015/01/02/uclas-anderson-school-morphs-into-a-friendly-tech-hub/ . Anderson is a great place! Sorry for the lack of updates recently. I...