Yes. I have not tried the [WorldCallPlaceAndTime](http://www.appbrain.com/app/ru.atrant.worldcallplaceandtime) App but it looks like what you want. Below you can see the summary and screenshot from appbrain.com. 

> This program shows a small
> CUSTOMIZABLE info window during
> incoming/outgoing call: country,
> region, city (or mobile operator) and
> LOCAL TIME in that place (worldwide)!
> 
> 2.0: colors option for donators, bugfixes
> 
> tag: call location,calllocation,who's
> calling,wer ruft an,caller id,who
> called

![alt text][1]


  [1]: https://i.sstatic.net/HivBa.png