We report the recent progress in Standard Model calculations of b→s transitions. We discuss the first NNLL prediction of the
branching ratio, including important additional subtleties due to nonperturbative corrections and logarithmically-enhanced cut effects, and also the recent results on the inclusive mode
. Moreover, new results on the corresponding exclusive modes are reviewed. Finally, we comment on the present status of the so-called B→Kπ puzzle in hadronic b→s transitions.