diff --git a/.gitignore b/.gitignore
index 11c82a2..7922bb6 100644
--- a/.gitignore
+++ b/.gitignore
@@ -15,3 +15,4 @@
 /ucx-1.13.1.tar.gz
 /ucx-1.14.1.tar.gz
 /ucx-1.15.0.tar.gz
+/ucx-1.16.0.tar.gz
diff --git a/sources b/sources
index 54e15ac..56708a5 100644
--- a/sources
+++ b/sources
@@ -1 +1 @@
-SHA512 (ucx-1.15.0.tar.gz) = 8ad9d4bc09a890ffae74c71496221d6ad710116e25531e867f78a84ff90808fe8859d856e261f536e89fba8d7d1b6ed3f7cf5054b6e34edee1bea19d5fdd1e0b
+SHA512 (ucx-1.16.0.tar.gz) = 063bc025e1bfa5b2f8fbaa020c7853fd2c19c0bfb600d24f98bba7637996b91922c8fe4563dac3e46c23280c5bd254c890623a78013d98d0e21b0f46d8500506
diff --git a/ucx.spec b/ucx.spec
index 2c66403..a3cb2d9 100644
--- a/ucx.spec
+++ b/ucx.spec
@@ -11,8 +11,8 @@
 %bcond_with    vfs
 
 Name: ucx
-Version: 1.15.0
-Release: 2%{?dist}
+Version: 1.16.0
+Release: 1%{?dist}
 Summary: UCX is a communication library implementing high-performance messaging
 
 License: BSD
@@ -288,6 +288,10 @@ library internals, protocol objects, transports status, and more.
 %endif
 
 %changelog
+* Wed May 01 2024 Kamal Heib <kheib@redhat.com> - 1.16.0-1
+- Update to upstream release 1.16.0
+- Resolves: RHEL-24468, RHEL-31249
+
 * Thu Nov 09 2023 Kamal Heib <kheib@redhat.com> - 1.15.0-2
 - Fix requirement error
 - Resolves: RHEL-888