The magazine mentioned that the Turkish businesswoman has been at the helm of her family's industrial, financial, and retail empire for five years now, consolidating her power every passing year.
The revenues of the conglomerate, which is the second largest in Turkey after Koç Holding, grew 23 percent in 2007, to $14.8 billion, the magazine noted. It also underlined that the firm has largely benefited and still continues to profit from the high growth in the Turkish economy, while also seeking opportunities to expand abroad. The group's efforts to have a stronger foot in retail was underlined by the magazine, while special emphasis was given to its investments in beefing up the undersized Turkish energy sector, with the group's EnjerjiSA company.

This year's list was again topped by Cynthia Carroll, the 51-year-old American-born CEO of British company Anglo American. It noted that the manager has been forced by the economic downturn to target still-growing markets such as China with ramped-up production of iron ore, coal, and copper. Though 2007 revenues dropped 9 percent, to $29 billion, and production costs rose, Carroll reported another year of record operating profits.

In Fortune's estimates, the second most powerful woman is Gail Kelly. The newly appointed CEO of Australia's Westpac climbed from 28th position in just one year. She is currently planning to merge Westpac, which last year had gross revenues of $20.9 billion, with St. George Bank, her former employer, in an announced $15 billion deal that would create Australia's largest financial services company.

The third most powerful businesswoman was Linda Zarda Cook, the executive director of the gas and power department of Royal Dutch Shell. "Cook, 50, just might make history," the magazine commented and went on to say: "Already the highest-ranking woman at the world's second-largest energy company, she is a favorite to take over as CEO next year. That would make Shell the first major oil company to have a female chief executive and the largest company in the world of any industry to be led by one."

The other names in the top 10 were Ho Ching at fourth, Marjorie Scardino, Anne Lauvergeon, Annika Falkengren, Marina Berlusconi, Güler Sabancı and finally Gulzhan Moldazhanova in 10th position.

TODAYSZAMAN