Including the recent preliminary results of BaBar and BELLE experiments, we update the currently allowed intervals for various CKM parameters:ρ, η, sin 2β, sin 2α, sin 2 γ. We also update the SM prediction for the rates of the K L → π 0 νν and K + → π + νν decays, their ratio a πνν , as well as for certain observables related to B Physics like the CP asymmetries a ψK S in B 0 d → J/ψ K S and a ψφ in B 0 s → J/ψ φ or the mass differences ∆m q (q = d, s) in the B 0 q −B 0 q systems. We investigate the correlations between them. The strongest correlations are between i) a πνν and a ψK S , ii) BR(K + → π + νν) and ∆m d /∆m s and iii) BR(K L → π 0 νν) and a ψφ . These correlations are likely to be violated in the presence of New Physics and therefore provide stringent tests of the Standard Model.