In a large skillet, heat up some olive oil over medium-high heat.
Add the beef and brown completely.
Add the onions, garlic, peppers, and tomato paste and cook for 2-3 minutes.
Add the dry white wine, cumin, bay leaves, tomato sauce, raisins, olives, salt, and pepper.
Reduce the heat to low, cover slightly, and simmer for 1 hour or until the beef is fork tender.
Discard the bay leaves and serve immediately.