In a large pot or dutch oven, cook beef in oil over medium heat until brown. Dissolve bouillon in water and pour into pot. Stir in rosemary, parsley and pepper. Bring to a boil, then reduce heat, cover and simmer 1 hour.
Stir potatoes, carrots, celery, and onion into the pot. Dissolve cornstarch in 2 teaspoons cold water and stir into stew. Cover and simmer 1 hour more.