Preheat oven to 180 C | 350 F. Grease a 9 x 5 inch loaf pan and line with parchment paper.
Soak the apricots and cranberry in hot water for 15 minutes. Drain and set aside.
In a large mixing bowl, cream the butter and sugar. Beat in the eggs one at a time, beating until fluffy after each addition.
Add baking powder, baking soda, salt, nutmeg, cinnamon, orange zest and beat until well blended.
Stir in the flour and then add the milk ¼ cup at a time, stirring well after each addition. Fold in the apricots, cranberries and nuts.
Pour the batter into loaf pan. Bake for 50-55 minutes or until toothpick inserted in the center comes out clean.
Remove the bread from the oven and let it cool in the pan for 10 minutes before removing it from the pan to cool completely on a wire rack.