German Chancellor Angela Merkel has topped a list of the most powerful women in the world for the second year.
US Secretary of State Condoleezza Rice is fourth in the Forbes magazine list, which is assessed using a mix of media "reach", influence and economic impact.
The Queen - among only three UK women listed - rose 23 places to 23, partly because of the length of her reign and her "increasing media favourability".
Businesswomen have performed strongly, taking five of the top 10 places.
Ho Ching, head of Singapore's Temasek Holdings was at number three while Pepsi's chief executive Indra Nooyi was fifth in the list of 100 women.
TEN MOST POWERFUL WOMEN
Second highest Briton after the Queen was London Stock Exchange boss Clara Furse, at 54th.
In another strong showing by the world of business, chief executive of mining giant Anglo American, Cynthia Carroll was the highest ranking newcomer, placed seventh.
Other City-based high-flyers included the chief executive of publishers Pearson, Marjorie Scardino, who was ranked 17th and Angela Ahrendts, the chief executive of fashion label Burberry, who placed 66th.
However, Margaret Beckett, who was placed 29th last year in her role as foreign secretary slipped out of the top 100 list completely after being replaced in the job by a man - David Miliband.
And Cherie Blair also failed to make the list, having been named as 62nd most powerful woman in 2005.
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