  We present a concise review of the recent theoretical progress concerning the
standard model calculation of the inclusive radiative anti-B --> X(s) gamma
decay. Particular attention is thereby devoted to the calculations of the
next-to-next-to-leading order fixed-order O(alpha_s^2) contributions, non-local
O(alpha_s Lambda/m_b) power corrections, and logarithmic-enhanced O(alpha_s^2)
cut-effects to the decay rate. The current status of various beyond the
standard model calculations of the inclusive b --> s gamma mode is also
summarized.
