1. Preheat oven to 350°.
2. Make 5 (1/2-inch-deep) slits into brisket; place 1 garlic clove in each slit. Sprinkle brisket evenly with salt and black pepper.
3. Heat a large nonstick skillet over medium-high heat. Coat pan with cooking spray. Add brisket to pan; cook 5 minutes, browning on all sides. Remove from pan.
4. Recoat pan with cooking spray. Add onion to pan; sauté 10 minutes or until tender. Add 1/2 cup water and next 6 ingredients (through bay leaves) to pan; cook 2 minutes or until heated through.
5. Place brisket in a 13 x 9–inch baking dish coated with cooking spray; top with onion mixture. Cover dish with foil. Bake at 350° for 3 hours or until brisket is very tender. Remove brisket from dish, reserving onion mixture. Discard bay leaves. Stir 2 tablespoons parsley and 2 tablespoons cilantro into onion mixture.
6. Cut brisket diagonally across grain into thin slices. Arrange brisket and onion mixture on a serving platter; sprinkle with remaining 2 tablespoons parsley and remaining 2 tablespoons cilantro. Serve with Preserved Lemons and olives.