Heat the butter and oil in a heavy-based saucepan and brown the beef cubes. Remove from the pan and set aside. Reduce the heat and sauté the onions and chillies until tender and fragrant. Add the garlic and sauté for 1 minute. Add the stock and wine. Bring to boil and stir continually. Add the bay leaf, olives and a few sprigs of fresh rosemary. Return the meat cubes to the pan and simmer slowly for 2 hours or until the meat is tender. Add the cream and stir through. Season well with salt and freshly ground black pepper, fresh lemon peel and extra rosemary. Serve with bread for dipping into the gravy.
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