Coat a 9x5-inch loaf pan or a baking sheet with oil or nonstick spray.
Combine flour, baking powder, salt, oregano, and cumin in a medium-sized mixing bowl. Stir with a fork or whisk to distribute.
Add beaten egg, milk, and oil. Stir until moistened. Stir in olives and nuts if using.
Smooth dough into 9x5-inch loaf pan, or form dough into a ball shape, place on pan, and flatten into a round about 3 inches high and 8 or 9 inches in diameter. Brush a little olive oil on the top if desired.
Bake about 40 minutes, or until brown and knife inserted into the center comes out clean.