Heat oil in heavy skilled over medium-high heat.
Add ham, onions and bell pepper and saute until golden brown, approx 8 min.
Stir in saffron and paprika, then 5 cups broth and rice.
Bring to boil.
Sprinkle with salt and pepper.
Reduce heat to low, cover and simmer until rice is almost tender, approx 15 min.
Nestle shrimp into rice, top with olives and drizzle with 1/4 cup or more broth to moisten.
Cover and cook until shrimp are just opaque in center.
Season to taste.
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