Sprinkle cubed beef chunk generously with salt and black pepper.
Heat dutch oven with vegetable oil. Once oil is heated, bring beef to dutch oven to sear. Turn beef to make sure all sides are seared well. Do this in batches if you have a small Dutch oven so that beef do not overlap each other when searing.
Bring all seared beef back to the Dutch oven. Add beef broth, garlic, red wine, bay leaf, thyme, and smoked paprika. Bring to boil.
After coming to a boil, cover, bring Dutch oven to medium low heat and simmer for 90 minutes. Check at the 45 minute mark on dryness. If liquid level looks very low, add 1/2 cup of water at a time. (see Note 1)
Add 1 can of whole tomatoes (do not drain) and sugar. Break tomatoes into halves and stir.
Add potatoes, onions, carrots and celery. Stir. Add water until most of the items are submerged in liquid (Note 2).
Bring to a boil. Cover, and then take it to medium low heat and simmer for another 45 minutes, or until beef is tender (easily break apart with a fork).
Combine cornflour with 3 tbsp of water in a small bowl. Stir to dissolve cornflour and then pour it back to the pot (see Note 3). Bring to boil and let it simmer for another 10 minutes.
Taste, add more salt to open up the flavors if needed.
Serve and enjoy!