Pat the beef cubes dry with paper towels and season with salt and black pepper.
Heat the vegetable oil in a large heavy-bottomed pot over medium-high heat.
Add the beef cubes in batches, browning them on all sides for about 5 minutes per batch. Remove browned beef and set aside.
In the same pot, add the diced onion and cook for 4 minutes until softened.
Add the minced garlic and cook for 1 minute until fragrant.
Stir in the tomato paste and cook for 2 minutes.
Pour in the red wine to deglaze the pot, scraping up any browned bits from the bottom. Let it simmer for 3 minutes to reduce slightly.
Return the browned beef to the pot and add the beef broth, dried thyme, dried rosemary, and bay leaves.
Bring the mixture to a boil, then reduce heat to low, cover, and simmer for 1 hour and 45 minutes, stirring occasionally.
Add the carrots, potatoes, and celery to the pot. Cover and continue to simmer for another 45 minutes, or until the vegetables and beef are tender.
In a small bowl, whisk together the all-purpose flour and cold water until smooth.
Stir the flour mixture into the stew and cook uncovered for 10 minutes to thicken the broth, stirring frequently.
Remove the bay leaves and adjust seasoning with salt and black pepper to taste.
Serve hot, garnished with chopped fresh parsley.