"As is the case with most countries in the Middle East, Israel rarely comes up in discussions of global 'safe havens', notes John Christy.

The editor of The Forbes International Investment Report explains, "But so far this year, Israel has been a pretty good place to hide from Wall Street's woes." Here he looks at one Israeli favorite, Cellcom Israel (NYSE: CEL).

"Putting stereotypes about risk aside, Israel offers a lot of interesting opportunities, even for fairly conservative investors. Cellcom Israel is a prime example. The company is Israel's largest mobile phone service provider, with sales of $1.6 billion in 2007.

"Since February 2007, the company has had a dual listing on both the New York and Tel Aviv stock exchanges. Discount Investment Corp. Ltd., one of Israel's largest business groups, owns just over 50% of the company.

"With 3.1 million subscribers, Cellcom has a 34% share of Israel's mobile telecom services market. Roughly three-quarters of Cellcom's subscribers are individuals, and the remaining 25% are corporate customers.

"African investments will be volatile and they may take years to mature," cautions Jim Powell, editor of Global Changes & Opportunities Report.

Nevertheless, the advisor explains, "I believe the emergence of Africa is an important development that should be represented in your portfolio." Here he looks at two opportunities in the resource-rich region.

"The richest remaining deposits of natural resources on earth are in Africa. And a resource race is starting as America and China are in a quiet struggle in Africa to secure the resources they must have to keep their industrial economies running.

"Many African resources are untapped because most developers have been unwilling to sink billions of dollars into the region's many unstable countries.

"But with natural resource prices soaring, however, Africa's risks are now worth taking. Since 2006, publicly-listed oil companies have tripled their spending in the region.

"And few investors have yet to realize Africa's potential. However, if mainstream investors discover the region, prices could go up very quickly. Either way, I believe Africa will deliver excellent profits for at least a decade, and probably far longer.