Crossword Genius

Cyprus welcomes Italian stockbrokers and others? (4)

Ross

I believe the answer is:

city

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'stockbrokers and others?' is the definition.
I can't judge whether this defines the answer.

'cyprus welcomes italian' is the wordplay.
'cyprus' becomes 'cy' (abbreviation).
'welcomes' means one lot of letters goes inside another (in sense of 'invites in').
'italian' becomes 'it' (abbreviation for Italian).
'cy' placed around 'it' is 'CITY'.

Can you help me to learn more?

(Other definitions for city that I've seen before include "See 5" , "Eg, London, Coventry" , "Large urban area" , "it's important to see" , "Major residential area" .)

I've seen this clue in The Independent.
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