Forbes Magazine will include a new section “ForbesWoman” for professional and executive women. “Women are making waves in business, politics and nonprofits around the world. Their influence is growing. Forbes' Power Women list isn't about celebrity or popularity; it's about influence,” Forbes says.

In the “Powerful Women” list, Forbes looked for women who run countries, big companies or influential nonprofits and rated them based on visibility (press mentions) and the size of the organization or country they lead.

German Chancellor Angela Merkel for four successive years is ranked No. 1 powerful woman and a leader of the world's fourth-largest economy.

Federal Deposit Insurance Corporation Chairman Sheila Bair is No. 2 presided over the due takeover of 77 banks this year.

U.S. first lady Michelle Obama “a champion for working women and families of the U.S. military” is No. 40.

Iceland's new PM Johanna Sigurdardottir is No. 74 trying “to recapitalize the banks of her small island nation, which recently came very close to complete economic collapse. She is an advocate of Iceland's entry into the E.U. and adoption of the euro-views not entirely popular with her people,” Forbes reads.