Preheat oven to 350 degrees F (175 degrees C). Grease a 9-inch baking pan.
Beat white sugar and eggs together until smooth, 3 to 4 minutes. Add olive oil, milk, and orange marmalade; beat again until well mixed. Add flour, cranberries, pecans, baking powder, and salt; stir until ingredients are moist. Pour batter into prepared baking pan.
Bake in the preheated oven until a toothpick inserted in the center comes out clean, 35 to 40 minutes. Cool cake in the pan; sprinkle with confectioners' sugar.