Heat the oil on the browning feature of the pressure cooker. Add the beef and brown turning occasionally for about 10 minutes. Transfer to a large bowl.
Add the onions and cook about 5 minutes. Pour in the wine and stir, scraping up any browned bits on the bottom of the pan. Add the carrots, figs, rosemary, thyme, salt and pepper. Add the beef back to the pan and any juices that accumulated in the bowl.
Lock the lid on the pot and set the time for 30 minutes at high pressure.
When timer is done, let the pressure reduce naturally for 20-25 minutes. If after 25 minutes, it hasn't returned to normal, do a quick pressure release.
Unlock the lid and remove the thyme and rosemary. In a small bowl, whisk the cornstarch with 2 teaspoons water. Stir this into the pot, until thickened about one minute.
Serve over rice, noodles, steamed potatoes, or polenta if desired.
Note - the cooking time in the recipe includes time for the pot to reduce to normal pressure using the natural pressure release method.