I've been trying for quite a while to recreate the Mexican Rice that you find at most any Mexican restaurant. I think I have finally found the right combination of ingredients and balance. Please note that I use a rice cooker when making this but I don't see any reason why you can't make it in a covered pan on the stove.
2 cups white rice
4 cups water
1 can diced tomatoes - do NOT drain
1 can diced green chiles
1/2 cup diced onion
1/4 - 1/2 cup diced red bell pepper
I don't have measurements on the spices because I simply added them until it seemed about right. I would start with 1/8 or 1/4 teaspoon of cumin, 1 teaspoon of chili powder, and a pinch of black pepper.
Add all ingredients into a rice cooker and cook on the "white rice" setting. If using a pan on the stove, bring water to a boil, add all other ingredients, reduce heat, cover, and simmer till rice is done.