1. Heat olive oil in heavy large pot over medium- high heat. Lightly salt the beef stew meat. Add the beef and cook, without stirring, until nicely browned on one side, then turn until all sides are browned, about 5 minutes. Add garlic and saute` 1 minute. Add beef stock, red wine, tomato paste, sugar, thyme, Worchestershire sauce, and bay leaves. Stir to combine. Bring mixture to boil. Reduce heat to medium- low, cover and simmer 1 hour, stirring occasionally.
2. While the meat and stock is simmering, melt butter in another large pot over medium heat. Add potatoes, onion and carrots. Saute` vegetables until golden, about 20 minutes. Set aside until the beef stew in step 1 has simmered 1 hour.
3. Add vegetables to beef stew. Simmer uncovered until vegetables and beef are very tender, about 40 minutes. Discard bay leaves. Tilt pan and spoon off fat. Transfer stew to serving bowl. Add salt and pepper to taste. Sprinkle with parsley and serve.