diff --git a/gradle.properties b/gradle.properties
index 5334fa7..8f1ee80 100644
--- a/gradle.properties
+++ b/gradle.properties
@@ -21,12 +21,12 @@ org.gradle.jvmargs='-Dfile.encoding=UTF-8'
 org.gradle.workers.max=3
 
 # Observe Modules
-observeVersion=1.0.2
-observeInternalVersion=1.0.2
+observeVersion=1.1.0
+observeInternalVersion=1.1.0
 
 # Ballerina Module Dependecy Versions
 stdlibHttpVersion=2.2.1
-stdlibIoVersion=1.2.1
+stdlibIoVersion=1.5.0
 stdlibRegexVersion=1.2.1
 stdlibOsVersion=1.2.1
 stdlibTimeVersion=2.2.1