Wash the Rice: Rinse the rice in cold water until the water runs clear. Cook the rice according to package instructions, ensuring it remains fluffy and not overly soft. Set aside.

Sauté the Aromatics: Heat the vegetable oil and butter in a large skillet or pot over medium heat. Add the chopped onion and garlic, sautéing for 2-3 minutes until fragrant and translucent.

Cook the Vegetables: Add the diced bell peppers to the skillet. Cook for 5-7 minutes, allowing the vegetables to soften while retaining their bright color. Sprinkle with a pinch of salt and pepper to enhance their flavor.

Season the Rice: Reduce the heat and stir in the bouillon powder, Italian seasoning, mixed spice (if using), and red pepper flakes. Mix well to evenly coat the vegetables.

Combine the Rice and Vegetables: Add the cooked rice to the skillet with the seasoned vegetables. Gently stir to combine, ensuring the rice is well-coated with the spices and evenly mixed with the peppers and onions.

Taste and Adjust: Taste the rice and adjust seasoning as needed, adding a little more bouillon powder, salt, or pepper for depth.

Garnish and Serve: Sprinkle the reserved 1/2 teaspoon bouillon powder over the rice for added flavor. Serve warm as a festive side dish or a light main course.