Heat the olive oil in a large pot over medium-high heat. Add the beef chunks and brown them on all sides. Remove the beef from the pot and set aside.
In the same pot, add garlic and onion. Sauté until the onion becomes translucent.
Pour in the red wine and beef broth, then stir in the tomato paste, thyme, rosemary, salt, and pepper. Bring to a simmer.
Return the beef to the pot. Cover and cook on low heat for about 2 hours.
Add carrots and potatoes to the pot, and continue cooking for an additional 30 minutes, or until the vegetables are tender.
Taste and adjust seasoning, if necessary. Serve hot.