Since its early phases of operation, the AGILE mission is successfully observing Gamma Ray Bursts (GRBs) in the hard X-ray band with the SuperAGILE imager and in the MeV range with the Mini-Calorimeter. Up to now, three firm GRB detections were obtained above 25 MeV and some bursts were detected with lower statistical confidence in the same energy band. When a GRB is localized, either by SuperAGILE or Swift/BAT or INTEGRAL/IBIS or Fermi/GBM or IPN, inside the field of view of the Gamma Ray Imager of AGILE, a detection is searched for in the gamma ray band or an upper limit is provided. A promising result of AGILE is the detection of very short gamma ray transients, a few ms in duration and possibly identified with Terrestrial Gamma-ray Flashes. In this paper we show the current status of the observation of Gamma Ray Bursts and Terrestrial Gamma-ray Flashes with AGILE.