diff --git a/ballerina-tests/build.gradle b/ballerina-tests/build.gradle
index e5b52eb90..09c8ca060 100644
--- a/ballerina-tests/build.gradle
+++ b/ballerina-tests/build.gradle
@@ -207,7 +207,7 @@ task stopLdapServer() {
             if (stdOut.toString().contains("openldap-server")) {
                 println "Stopping LDAP server."
                 exec {
-                    commandLine 'sh', '-c', "docker-compose -f tests/resources/openldap/docker-compose.yml rm -svf"
+                    commandLine 'sh', '-c', "docker compose -f tests/resources/openldap/compose.yml rm -svf"
                     standardOutput = stdOut
                 }
                 println stdOut.toString()
diff --git a/ballerina-tests/tests/resources/openldap/docker-compose.yml b/ballerina-tests/tests/resources/openldap/compose.yml
similarity index 96%
rename from ballerina-tests/tests/resources/openldap/docker-compose.yml
rename to ballerina-tests/tests/resources/openldap/compose.yml
index 6c4d9869b..e46069f79 100644
--- a/ballerina-tests/tests/resources/openldap/docker-compose.yml
+++ b/ballerina-tests/tests/resources/openldap/compose.yml
@@ -1,4 +1,3 @@
-version: '3.7'
 services:
   ldap_server:
     image: osixia/openldap:1.3.0
diff --git a/ballerina/Ballerina.toml b/ballerina/Ballerina.toml
index e3da380da..913dc332b 100644
--- a/ballerina/Ballerina.toml
+++ b/ballerina/Ballerina.toml
@@ -1,8 +1,8 @@
 [package]
 org = "ballerina"
 name = "grpc"
-version = "1.11.2"
-distribution = "2201.9.0"
+version = "1.12.0"
+distribution = "2201.10.0"
 authors = ["Ballerina"]
 keywords = ["network", "grpc", "protobuf", "server-streaming", "client-streaming", "bidirectional-streaming"]
 repository = "https://github.com/ballerina-platform/module-ballerina-grpc"
@@ -16,15 +16,15 @@ graalvmCompatible = true
 [[platform.java17.dependency]]
 groupId = "io.ballerina.stdlib"
 artifactId = "grpc-native"
-version = "1.11.2"
-path = "../native/build/libs/grpc-native-1.11.2-SNAPSHOT.jar"
+version = "1.12.0"
+path = "../native/build/libs/grpc-native-1.12.0-SNAPSHOT.jar"
 
 [[platform.java17.dependency]]
-path = "../test-utils/build/libs/grpc-test-utils-1.11.2-SNAPSHOT.jar"
+path = "../test-utils/build/libs/grpc-test-utils-1.12.0-SNAPSHOT.jar"
 scope = "testOnly"
 
 [[platform.java17.dependency]]
-path = "./lib/ballerina-cli-2201.9.0.jar"
+path = "./lib/ballerina-cli-2201.10.0-20240806-083400-aabac46a.jar"
 scope = "testOnly"
 
 [[platform.java17.dependency]]
@@ -34,8 +34,8 @@ scope = "testOnly"
 [[platform.java17.dependency]]
 groupId = "io.ballerina.stdlib"
 artifactId = "http-native"
-version = "2.11.0"
-path = "./lib/http-native-2.11.0.jar"
+version = "2.12.0"
+path = "./lib/http-native-2.12.0-20240809-111500-91b1ccd.jar"
 
 [[platform.java17.dependency]]
 groupId = "io.netty"
@@ -163,11 +163,11 @@ path = "./lib/proto-google-common-protos-1.17.0.jar"
 [[platform.java17.dependency]]
 groupId = "org.ballerinalang"
 artifactId = "formatter-core"
-version = "2201.9.0"
-path = "./lib/formatter-core-2201.9.0.jar"
+version = "2201.10.0-20240806-083400-aabac46a"
+path = "./lib/formatter-core-2201.10.0-20240806-083400-aabac46a.jar"
 
 [[platform.java17.dependency]]
 groupId = "org.ballerinalang"
 artifactId = "ballerina-parser"
-version = "2201.9.0"
-path = "./lib/ballerina-parser-2201.9.0.jar"
+version = "2201.10.0-20240806-083400-aabac46a"
+path = "./lib/ballerina-parser-2201.10.0-20240806-083400-aabac46a.jar"
diff --git a/ballerina/CompilerPlugin.toml b/ballerina/CompilerPlugin.toml
index f4e07bf97..2027a88b1 100644
--- a/ballerina/CompilerPlugin.toml
+++ b/ballerina/CompilerPlugin.toml
@@ -3,4 +3,4 @@ id = "grpc-compiler-plugin"
 class = "io.ballerina.stdlib.grpc.plugin.GrpcCompilerPlugin"
 
 [[dependency]]
-path = "../compiler-plugin/build/libs/grpc-compiler-plugin-1.11.2-SNAPSHOT.jar"
+path = "../compiler-plugin/build/libs/grpc-compiler-plugin-1.12.0-SNAPSHOT.jar"
diff --git a/ballerina/Dependencies.toml b/ballerina/Dependencies.toml
index 67b98b94d..23fb55374 100644
--- a/ballerina/Dependencies.toml
+++ b/ballerina/Dependencies.toml
@@ -5,12 +5,12 @@
 
 [ballerina]
 dependencies-toml-version = "2"
-distribution-version = "2201.9.0"
+distribution-version = "2201.10.0-20240806-083400-aabac46a"
 
 [[package]]
 org = "ballerina"
 name = "auth"
-version = "2.11.0"
+version = "2.12.0"
 dependencies = [
 	{org = "ballerina", name = "crypto"},
 	{org = "ballerina", name = "jballerina.java"},
@@ -56,7 +56,7 @@ modules = [
 [[package]]
 org = "ballerina"
 name = "file"
-version = "1.9.0"
+version = "1.10.0"
 scope = "testOnly"
 dependencies = [
 	{org = "ballerina", name = "io"},
@@ -68,7 +68,7 @@ dependencies = [
 [[package]]
 org = "ballerina"
 name = "grpc"
-version = "1.11.2"
+version = "1.12.0"
 dependencies = [
 	{org = "ballerina", name = "auth"},
 	{org = "ballerina", name = "crypto"},
@@ -94,7 +94,7 @@ modules = [
 [[package]]
 org = "ballerina"
 name = "http"
-version = "2.11.2"
+version = "2.12.0"
 scope = "testOnly"
 dependencies = [
 	{org = "ballerina", name = "auth"},
@@ -127,7 +127,7 @@ modules = [
 [[package]]
 org = "ballerina"
 name = "io"
-version = "1.6.0"
+version = "1.6.1"
 dependencies = [
 	{org = "ballerina", name = "jballerina.java"},
 	{org = "ballerina", name = "lang.value"}
@@ -144,10 +144,11 @@ modules = [
 [[package]]
 org = "ballerina"
 name = "jwt"
-version = "2.11.0"
+version = "2.13.0"
 dependencies = [
 	{org = "ballerina", name = "cache"},
 	{org = "ballerina", name = "crypto"},
+	{org = "ballerina", name = "io"},
 	{org = "ballerina", name = "jballerina.java"},
 	{org = "ballerina", name = "lang.int"},
 	{org = "ballerina", name = "lang.string"},
@@ -248,7 +249,7 @@ dependencies = [
 [[package]]
 org = "ballerina"
 name = "log"
-version = "2.9.0"
+version = "2.10.0"
 dependencies = [
 	{org = "ballerina", name = "io"},
 	{org = "ballerina", name = "jballerina.java"},
@@ -262,18 +263,19 @@ modules = [
 [[package]]
 org = "ballerina"
 name = "mime"
-version = "2.9.0"
+version = "2.10.0"
 scope = "testOnly"
 dependencies = [
 	{org = "ballerina", name = "io"},
 	{org = "ballerina", name = "jballerina.java"},
-	{org = "ballerina", name = "lang.int"}
+	{org = "ballerina", name = "lang.int"},
+	{org = "ballerina", name = "log"}
 ]
 
 [[package]]
 org = "ballerina"
 name = "oauth2"
-version = "2.11.0"
+version = "2.12.0"
 dependencies = [
 	{org = "ballerina", name = "cache"},
 	{org = "ballerina", name = "crypto"},
@@ -289,7 +291,7 @@ modules = [
 [[package]]
 org = "ballerina"
 name = "observe"
-version = "1.2.3"
+version = "1.3.0"
 dependencies = [
 	{org = "ballerina", name = "jballerina.java"}
 ]
diff --git a/ballerina/build.gradle b/ballerina/build.gradle
index d0ec11b9d..cfde948a1 100644
--- a/ballerina/build.gradle
+++ b/ballerina/build.gradle
@@ -236,7 +236,7 @@ task startLdapServer() {
             if (!stdOut.toString().contains("openldap-server")) {
                 println "Starting LDAP server."
                 exec {
-                    commandLine 'sh', '-c', "docker-compose -f tests/resources/openldap/docker-compose.yml up -d"
+                    commandLine 'sh', '-c', "docker compose -f tests/resources/openldap/compose.yml up -d"
                     standardOutput = stdOut
                 }
                 println stdOut.toString()
diff --git a/ballerina/tests/resources/openldap/docker-compose.yml b/ballerina/tests/resources/openldap/compose.yml
similarity index 96%
rename from ballerina/tests/resources/openldap/docker-compose.yml
rename to ballerina/tests/resources/openldap/compose.yml
index 6c4d9869b..e46069f79 100644
--- a/ballerina/tests/resources/openldap/docker-compose.yml
+++ b/ballerina/tests/resources/openldap/compose.yml
@@ -1,4 +1,3 @@
-version: '3.7'
 services:
   ldap_server:
     image: osixia/openldap:1.3.0
diff --git a/build-config/resources/Ballerina.toml b/build-config/resources/Ballerina.toml
index 0ecf97694..c11629927 100644
--- a/build-config/resources/Ballerina.toml
+++ b/build-config/resources/Ballerina.toml
@@ -2,7 +2,7 @@
 org = "ballerina"
 name = "grpc"
 version = "@toml.version@"
-distribution = "2201.9.0"
+distribution = "2201.10.0"
 authors = ["Ballerina"]
 keywords = ["network", "grpc", "protobuf", "server-streaming", "client-streaming", "bidirectional-streaming"]
 repository = "https://github.com/ballerina-platform/module-ballerina-grpc"
diff --git a/gradle.properties b/gradle.properties
index 2a209c824..dc311c53f 100644
--- a/gradle.properties
+++ b/gradle.properties
@@ -1,8 +1,8 @@
 org.gradle.caching=true
 group=io.ballerina.stdlib
-version=1.11.2-SNAPSHOT
+version=1.12.0-SNAPSHOT
 #dependency versions
-ballerinaLangVersion=2201.9.0
+ballerinaLangVersion=2201.10.0-20240814-095500-9d14866a
 ballerinaTomlParserVersion=1.2.2
 checkstylePluginVersion=10.12.0
 commonsLang3Version=3.8.1
@@ -26,29 +26,29 @@ bouncycastleVersion=1.78
 wso2CommonsPoolVersion=1.5.6.wso2v1
 
 #stdlib dependencies
-stdlibIoVersion=1.6.0
+stdlibIoVersion=1.6.1
 stdlibTimeVersion=2.4.0
 stdlibUrlVersion=2.4.0
 
 stdlibConstraintVersion=1.5.0
-stdlibCryptoVersion=2.7.0
-stdlibLogVersion=2.9.0
+stdlibCryptoVersion=2.7.2
+stdlibLogVersion=2.10.0-20240814-120000-f0c3cc8
 stdlibOsVersion=1.8.0
 stdlibProtobufVersion=1.6.0
 stdlibRandomVersion=1.5.0
 stdlibTaskVersion=2.5.0
 
 stdlibCacheVersion=3.8.0
-stdlibFileVersion=1.9.0
-stdlibMimeVersion=2.9.0
+stdlibFileVersion=1.10.0-20240814-133200-74f4d63
+stdlibMimeVersion=2.10.0-20240814-133200-6c54439
 stdlibUuidVersion=1.8.0
 
-stdlibAuthVersion=2.11.0
-stdlibJwtVersion=2.11.0
-stdlibOAuth2Version=2.11.0
+stdlibAuthVersion=2.12.0-20240814-133000-6db5624
+stdlibJwtVersion=2.13.0-20240814-133100-630021f
+stdlibOAuth2Version=2.12.0-20240814-133400-a7008e4
 
-stdlibHttpVersion=2.11.0
+stdlibHttpVersion=2.12.0-20240814-145000-dcdc9a0
 
 # Ballerinax Observer
-observeVersion=1.2.3
-observeInternalVersion=1.2.2
+observeVersion=1.3.0-20240814-114100-0f71e1e
+observeInternalVersion=1.3.0-20240814-114900-8a734a3