The battle with Profiteur is not available immediately upon entering Ancheim. Indeed, there's an entire other sub scenario to complete before you get a chance to put a fist in his smug face. You need to do the following to spark this second sub scenario:
- Speak to Profiteur in his merchantry building. You can do this after first entering Ancheim and after listening to the king's speech in his palace. He'll greet you kindly, talk a bit about how awesome he is, and throw you out. All subsequent visits before you complete the next sub scenario will meet with the same treatment.
- After being kicked out of the merchantry, check the well that's sitting to the left of the building. A thug will prevent you from taking water and order you to go to the oasis outside town if you seek liquid refreshment.
- Check out the oasis to the west. Once there you'll hit a quick cut scene with bandits and a hapless merchant. Tiz and co. will drive the bandits off; give chase.
- Proceed through the Harena Ruins. This place is full of traps and treasure. It's not terribly long, but this walkthrough will help you track down all of the treasure - including the stuff that's not sitting out in the open.
- Defeat The Jackal and his bodyguard Khint. Again, you can find details regarding this battle in the above-mentioned walkthrough. Not a terrible battle, but mildly tricky. (Though you do get the Thief job for completing it.)
- Return to Ancheim, heal up, save, and wander over to Profiteur's little home for a chat. He won't be happy with the evidence you've brought him, and the battle will begin.
Khint, Chairman Profiteur
Woof. This fight's a bit different from the last boss fight. Khint is more or less identical, and can be dispatched in the same fashion, but Profiteur's another matter. His Takeover ability deals 300 HP of damage every time it's used, and he'll typically use it twice per turn. Painful on a melee character, deadly to mages. The only way to really get around the pain of this attack at this stage in the game is the Black Mage Damage Dispersion ability, which will spread some of the damage out to your other characters. Otherwise, you're going to be wasting a lot of MP and Phoenix Downs healing and reviving characters as you whittle down Profiteur's HP (which, mercifully, isn't that high). If you don't want to spend that much time on a Black Mage, make sure you have a dedicated White Mage casting Cure every turn. You'll need it.
One thing to note here is that you don't actually have to attack Khint, nor should you. He will bug out on the battle once you do enough damage to him or Profiteur. Consequently, you might as well concentrate the whole of your offence on Profiteur and ignore Khint altogether.
- Wiping out Profiteur will earn you the Merchant asterisk, which offers you some very fancy outfits. (They're also better than they sound. The More Money ability is great.) You'll also find notes regarding the water-fixing scheme which will lead you to the next side quest.