In a Dutch oven, heat the vegetable oil over medium-high heat and brown the beef cubes on all sides.

Remove the beef and set aside. In the same pot, add diced onion and minced garlic, cooking until softened.

Return the beef to the pot, then stir in the beef broth, diced tomatoes, cumin, chili powder, paprika, salt, and pepper.

Bring the mixture to a boil, then reduce heat to low and add the bay leaf. Cover and simmer for about 2 hours, stirring occasionally.

Once the beef is tender, remove the bay leaf and adjust seasonings as needed before serving.