Heat olive oil in a large pot over medium heat. Add beef and brown on all sides.
Add chopped onion and cook until softened. Stir in minced garlic and cook for another minute.
Pour in red wine and let it simmer until reduced by half.
Add beef broth, diced tomatoes, tomato paste, oregano, thyme, bay leaves, salt, and pepper. Bring to a boil.
Reduce heat to low, cover, and let it simmer for about 2 hours or until the beef is tender.
Stir in kalamata olives and cook for another 10 minutes.
Remove bay leaves, garnish with fresh parsley, and serve hot.