Heat olive oil in a large pot over medium heat.
Add chopped onions and sauté until translucent.
Stir in minced garlic and cook for an additional minute.
Add beef cubes and brown on all sides.
Sprinkle paprika and caraway seeds over the meat, mixing well.
Pour in the beef broth and diced tomatoes.
Stir in sliced bell peppers and Worcestershire sauce.
Season with salt and pepper to taste.
Bring to a boil, then reduce heat and let simmer, covered, for 1.5 hours.
Check for tenderness of the meat and adjust seasoning if necessary.