This rice is Indian inspired and so the recipe calls for traditional basmati, but Texmati rice will give much the same effect, and in fact any white rice is good made this way. Substitute almonds for the cashews if you prefer.
Rinse the rice until the water runs clear. Put the rice in a medium saucepan with the water, cinnamon stick, cloves, bay leaves, saffron, and salt. Bring to a boil, reduce the heat to low, and cook, covered, for 15 minutes. Remove from the heat and let sit, without removing the lid, for 10 minutes.
With a fork, gently stir in the butter, cashews, and raisins.